Common use of Payment of Purchase Price for the Mortgage Loans Clause in Contracts

Payment of Purchase Price for the Mortgage Loans. (a) In consideration of the sale of the Initial Mortgage Loans from each of the Sellers to the Purchaser on the Closing Date, the Purchaser agrees to transfer to the applicable Seller on the Closing Date the purchase price for the applicable Initial Mortgage Loans provided in the Adoption Annex attached as Annex 1 to this Agreement (the "Adoption Annex"). (b) In consideration of the sale of the Additional Home Equity Loans from the Seller to the Purchaser on each Subsequent Closing Date, the Purchaser agrees to cause the Trust to pay to the Seller, when the conditions to the release of the purchase price for the Additional Home Equity Loans under the Sale and Servicing Agreement have been met, an amount equal to their Cut-off Date Asset Balance.

Payment of Purchase Price for the Mortgage Loans. (a) In consideration of the sale of the Initial Mortgage Loans from each of the Sellers Seller to the Purchaser on the Closing Date, the Purchaser agrees to pay to the Seller on the Closing Date by transfer of immediately available funds, the amount specified in the Adoption Annex, and to transfer to the applicable Seller on the Closing Date the purchase price for the applicable Initial Mortgage Loans provided in the Adoption Annex attached as Annex 1 to this Agreement (the "Adoption Annex")Transferor Certificates. (b) In consideration of the sale of the Additional Home Equity Loans from the Seller to the Purchaser on each Subsequent Closing Date, the Purchaser agrees to cause the Trust to pay to the Seller, Seller when the conditions to the release of the purchase price for the Additional Home Equity Loans under the Sale and Servicing Agreement have been met, met an amount equal to their Cut-off Date Asset Balance.

Payment of Purchase Price for the Mortgage Loans. (a) In consideration of the sale of the Initial Mortgage Loans from each of the Sellers to the Purchaser on the Closing Date, the Purchaser agrees to transfer to the applicable Seller on the Closing Date the purchase price for the applicable Initial Mortgage Loans provided in the Adoption Annex attached as Annex 1 to this Agreement (the "“Adoption Annex"”). (b) In consideration of the sale of the Additional Home Equity Loans from the Seller to the Purchaser on each Subsequent Closing Date, the Purchaser agrees to cause the Trust to pay to the Seller, when the conditions to the release of the purchase price for the Additional Home Equity Loans under the Sale and Servicing Agreement have been met, an amount equal to their Cut-off Date Asset Balance.