OPTIONAL SUBSTITUTION OF MORTGAGE LOANS. During the three-month period beginning on the Startup Date, the Seller shall have the right, but not the obligation, in its sole discretion for any reason, to substitute for any Group I or Group II Mortgage Loan, a Substitute Mortgage Loan meeting the requirements of Section 2.02. Any such substitution shall be carried out in the manner described in Section 2.02. The Substitution Principal Amount, if any, plus accrued interest thereon and the other amounts referred to in Section 2.02, shall be deposited in the Certificate Account.
Appears in 8 contracts
Samples: Custodial Agreement (Wells Fargo Mortgage Backed Securities Series 2005-Ar3 Trust), Custodial Agreement (Wells Fargo Asset Sec Corp Mort Pass THR Certs Ser 2003-L), Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities Series 2004-R Trust)
OPTIONAL SUBSTITUTION OF MORTGAGE LOANS. During the three-month period beginning on the Startup Date, the Seller shall have the right, but not the obligation, in its sole discretion for any reason, to substitute for any Group I I, Group II or Group II III Mortgage Loan, a Substitute Mortgage Loan meeting the requirements of Section 2.02. Any such substitution shall be carried out in the manner described in Section 2.02. The Substitution Principal Amount, if any, plus accrued interest thereon and the other amounts referred to in Section 2.02, shall be deposited in the Certificate Account.
Appears in 3 contracts
Samples: Custodial Agreement (Wells Fargo Mortgage Backed Securities Series 2005-Ar2 Trust), Pooling and Servicing Agreement (Wells Fargo Asset Sec Corp Mor Pass THR Cert Ser 2001-34), Pooling and Servicing Agreement (Wells Fargo Asset Sec Corp Mort Pas THR Certs Ser 2003 N)
OPTIONAL SUBSTITUTION OF MORTGAGE LOANS. Section 2.07 During the three-month period beginning on the Startup Date, the Seller shall have the right, but not the obligation, in its sole discretion for any reason, to substitute for any Group I or Group II Mortgage Loan, Loan a Substitute Mortgage Loan meeting the requirements of Section 2.02. Any such substitution shall be carried out in the manner described in Section 2.02. The Substitution Principal Amount, if any, plus accrued interest thereon and the other amounts referred to in Section 2.02, shall be deposited in the Certificate Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities Series 2004-W Trust)
