OPTIONAL REDEMPTION OF THE BONDS. (a) The Issuer shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Principal Balance of the Initial Mortgage Loans is less than or equal to 25% of the sum of the aggregate Principal Balance of the Initial Mortgage Loans as of the Cut-Off Date and the Original Pre-Funded Amount or (ii) the Payment Date occurring in _______________. The aggregate redemption price for the Bonds will be equal to the unpaid Bond Principal Balance of the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the Bond Interest Rate through such Payment Date (including any Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Insurance Agreement (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer).
OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans as of the end of the prior Due Period is less than or equal to 20% of the aggregate Cut-off Date Balance and (ii) the Payment Date occurring in June 2015. The aggregate redemption price for the Bonds will be equal to the unpaid Bond Principal Balance of such Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall and Basis Risk Shortfall Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Bond Insurance Policy (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount equal to any amounts owing to the Derivative Contract Counterparties under the Derivative Contracts.
OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder shall have the option to redeem the Bonds, other than the Class A-IO-1 Bonds and Class A-IO-2 Bonds, in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the sum of the aggregate Stated Principal Balance of the Mortgage Loans and the Group 1 Pre-Funded Amount is less than or equal to 20% of the sum of the aggregate Stated Principal Balance of the Mortgage Loans as of Cut-off Date and the Group 1 Original Pre-Funded Amount and (ii) the Payment Date in October 2014. The aggregate redemption price for the Bonds, other than the Class A-IO-1 Bonds and Class A-IO-2 Bonds, will be equal to the unpaid Bond Principal Balance of the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall and Basis Risk Shortfall Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Bond Insurance Policy (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount equal to any amounts owing to the Derivative Counterparty under the Derivative Contracts.
OPTIONAL REDEMPTION OF THE BONDS. (a) On or after the Payment Date in June 2005, the Majority Certificateholder shall have the option to redeem the Bonds, other than the Class A-IO Bonds, in whole, but not in part, on any Payment Date on or after the earlier of (i) the 20% Clean-Up Call Date and (ii) the Payment Date in December 2012. The aggregate redemption price for the Bonds will be equal to the unpaid Bond Principal Balance of the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall), plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee).
OPTIONAL REDEMPTION OF THE BONDS. (a) The Holder of the Certificates shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans as of the end of the prior Due Period is less than or equal to 25% of the aggregate Stated Principal Balance of the Mortgage Loans as of Cut-off Date, but not earlier than the Payment Date occurring in February 2005 and (ii) the Payment Date in September 2012. The aggregate redemption price for the Bonds will be equal to the sum of (i) the unpaid Bond Principal Balance of the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall and Basis Risk Shortfall Carry-Forward Amount), (ii) the Class A-IO Adjusted Issue Price for the Class A-IO Bonds and (iii) an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Insurance Agreement (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer).
OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Group 1 Loans and Group 2 Loans as of the end of the prior Due Period is less than or equal to 25% of the aggregate Stated Principal Balance of the Group 1 Loans and Group 2 Loans as of the Cut-off Date and the sum of the Group 1 Original Pre-Funded Amount and Group 2 Original Pre-Funded Amount and (ii) the Payment Date occurring in April 2014. The holder of the Owner Trust Certificates, or, if there is no single holder, the majority holder of the Owner Trust Certificates, may purchase the Group 3 Bonds from the trust, effecting the early retirement of the Group 3 Bonds, on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Group 3 Loans as of the end of the prior Due Period is less than or equal to 25% of the aggregate Stated Principal Balance of the Group 3 Loans as of the Cut-off Date and (ii) the Payment Date occurring in April 2014. The purchase price for the Group 1 Bonds and Group 2 Bonds will be equal to 100% of the aggregate outstanding Bond Principal Balance of these Bonds and accrued and unpaid interest thereon (including any related Unpaid Interest Shortfall, Class 2-A Net WAC Shortfall Carry-Forward Amount and Basis Risk Shortfall Carry-Forward Amount) at the Bond Interest Rate through the date on which these Bonds are redeemed in full together with all amounts due and owing to the Indenture Trustee and the Grantor Trustee in relation to these called Bonds, plus an amount equal to any amounts owing to the Derivative Contract Counterparty under the related Derivative Contracts. The purchase price for the Group 3 Bonds will be equal to 100% of the aggregate outstanding Bond Principal Balance of the related Bonds and accrued and unpaid interest thereon (including any related Unpaid Interest Shortfall and Basis Risk Shortfall Carry-Forward Amount) at the Bond Interest Rate through the date on which these Bonds are redeemed in full together with all amounts due and owing to the Indenture Trustee and the Grantor Trustee in relation to these called Bonds, plus an amount equal to any amounts owing to the Derivative Contract Counterparty under the related Derivative Contracts.
OPTIONAL REDEMPTION OF THE BONDS. (a) Provided that no Issuer Event of Default has occurred and is continuing, the Issuer may, at its option, pursuant to Section 10.01 of the Standard Indenture Provisions, redeem Bonds of any Class, in whole but not in part, at the Redemption Price therefor, on any Payment Date as of which the aggregate Principal Amount of such Class is less than or equal to ___% of the initial aggregate Principal Amount thereof and in any event subject to and in accordance with Article X of the Standard Indenture Provisions.
OPTIONAL REDEMPTION OF THE BONDS. (a) The Issuer shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Principal Balance of the Mortgage Loans is less than or equal to 25% of the aggregate Principal Balance of the Mortgage Loans as of the Cut-off Date or (ii) the Payment Date occurring in March 2006. The aggregate redemption price for the Bonds, as evidenced by an Officer's Certificate of the Master Servicer addressed to the Indenture Trustee attesting to the accuracy and detailing the steps of such calculation, will be equal to the unpaid Bond Principal Balance of the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the Bond Interest Rate through such Payment Date (including any Unpaid Interest Shortfalls and Carry-Forward Amounts), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Insurance Agreement (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer).
OPTIONAL REDEMPTION OF THE BONDS. 51 ARTICLE IX
OPTIONAL REDEMPTION OF THE BONDS. (a) The Issuer shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Principal Balance of the Mortgage Loans is less than or equal to 20% of the aggregate Principal Balance of the Mortgage Loans as of the Cut-off Date or (ii) the Payment Date occurring in March 2008. The aggregate redemption price for the Bonds will be equal to the unpaid Bond Principal Balance of the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the Bond Interest Rate through such Payment Date (including any Unpaid Interest Shortfalls), plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee).
