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

Payment of Purchase Price for the Subsequent Loans. (a) In consideration of the sale of the Subsequent Loans from the Transferor to the Grantor Trustee on the Subsequent Transfer Date, the Grantor Trustee agrees to pay from the Prefunding Account to the Transferor on the Subsequent Transfer Date by transfer of immediately available funds, an amount equal to 100% of the aggregate Principal Balances of the Subsequent Loans as of the Cut-Off Date in accordance with the provisions of the Grantor Trust Agreement and the Sale and Servicing Agreement.

Payment of Purchase Price for the Subsequent Loans. (a) In consideration of the sale of the Subsequent Loans from the Transferor to the Grantor Trustee on the Subsequent Transfer Date, the Grantor Trustee agrees to pay from the Prefunding Account to the Transferor on the Subsequent Transfer Date by transfer of immediately available funds, an amount equal to 100% of the aggregate Principal Balances of the Subsequent Loans as of the Cut-Off Date in accordance with the provisions of the Grantor Trust Agreement and the Sale and Servicing AgreementDate.