Common use of Pool Purchase Price Clause in Contracts

Pool Purchase Price. (a) On the Closing Date, as full consideration for the Seller's sale of the Mortgage Loans to the Depositor, the Depositor will (1) pay to the Seller cash, in immediately available funds, equal to the proceeds of the sale of the Notes by the Issuer, net of underwriting discounts and the Issuance Fee described in Section 10 below, and (2) direct the issuance of the Trust Certificates (collectively, the "Pool Purchase Price"). (b) The Depositor or any assignee or transferee of the Depositor (which will include the Issuer and the Indenture Trustee) shall be entitled to all Monthly Payments due after the Cut-off Date and all Principal Prepayments and other unscheduled collections of principal collected in respect of the Mortgage Loans on or after the Cut-off Date. All Monthly Payments due on or before the Cut-off Date and collected on or after the Cut-off Date shall belong to the Seller. (c) The Depositor will transfer and assign all of its right, title and interest in and to the Mortgage Loans to the Issuer, which will in turn pledge all of its right, title and interest in and to the Mortgage Loans to the Indenture Trustee pursuant to the Indenture for the benefit of the holders of the Notes and the Note Insurer.

Pool Purchase Price. (a) On the Closing Date, as full consideration for the Seller's sale of the Mortgage Loans to the DepositorFAIC II, the Depositor FAIC II will (1) pay to the Seller cash, cash in immediately available funds, funds equal to the proceeds of the sale of the Notes Bonds by the Issuer, net of underwriting discounts and the Issuance Fee described in Section 10 below, and (2) direct the issuance of transfer the Trust Certificates to NMFC, as the Seller's designee (collectively, the "Pool Purchase Price"). (b) The Depositor FAIC II or any assignee or transferee of the Depositor FAIC II (which will include the Issuer and the Indenture Trustee) shall be entitled to all Monthly Payments due after the Cut-off Date and all Principal Prepayments and other unscheduled collections of principal collected in respect of the Mortgage Loans on or after the Cut-off Date. All Monthly Payments due on or before the Cut-off Date and collected on or after the Cut-off Date shall belong to the Seller. (c) The Depositor Pursuant to the Trust Agreement, FAIC II will transfer and assign all of its right, title and interest in and to the Mortgage Loans to the Issuer, which will in turn pledge all of its right, title and interest in and to the Mortgage Loans to the Indenture Trustee pursuant to the Indenture for the benefit of the holders of the Notes Bonds and the Note Bond Insurer.

Pool Purchase Price. (a) On the Closing Date, as full consideration for the Seller's sale of the Mortgage Loans to the DepositorFAIC II, the Depositor FAIC II will (1) pay to the Seller cash, cash in immediately available funds, funds equal to the proceeds of the sale of the Notes Bonds by the Issuer, net of underwriting discounts and the Issuance Fee described in Section 10 below, and (2) direct the issuance of transfer the Trust Certificates to NMFC, as the Seller's designee (collectively, the "Pool Purchase Price"). (b) The Depositor FAIC II or any assignee or transferee of the Depositor FAIC II (which will include the Issuer and the Indenture Trustee) shall be entitled to all Monthly Payments due after the Cut-off Date and all Principal Prepayments and other unscheduled collections of principal collected in respect of the Mortgage Loans on or after the Cut-off Date. All Monthly Payments due on or before the Cut-off Date and collected on or after the Cut-off Date shall belong to the Seller. (c) The Depositor Pursuant to the Trust Agreement, FAIC II will transfer and assign all of its right, title and interest in and to the Mortgage Loans to the Issuer, which will in turn pledge all of its right, title and interest in and to the Mortgage Loans to the Indenture Trustee pursuant to the Indenture for the benefit of the holders of the Notes and the Note InsurerBonds.