Premium Recapture. With respect to any Mortgage Loan without a prepayment penalty, in the event that any such Mortgage Loan prepays in full during the first three months following the related Closing Date, the Seller shall pay the Purchaser, within ten (10) Business Days of such prepayment in full, an amount equal to the product of the applicable percentage of par as stated in the related Purchase Price and Terms Agreement (subject to adjustment as provided therein) and the Stated Principal Balance of such Mortgage Loan as of the related Cut-off Date; provided, however, that the Purchaser must request in writing that Seller pay such amount within six (6) months of the related Closing Date.
Appears in 23 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He7), Pooling and Servicing Agreement (MSAC Trust 2006-He3), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Capital I Inc. Trust 2006-He1)
