Premium Recapture. Should any Borrower prepay a Subprime Loan during the twelve month period following Countrywide’s purchase of the loan, Seller shall reimburse Countywide, upon demand, some or all of the purchase price premium above par paid by Countrywide. The reimbursement shall be calculated using the following formula for “Spot” commitments and “Pool” commitments unless stated otherwise in the “Pool” commitment letter:
Appears in 4 contracts
Samples: Loan Purchase Agreement (Tree.com, Inc.), Loan Purchase Agreement (Tree.com, Inc.), Loan Purchase Agreement (Tree.com, Inc.)
Premium Recapture. Should any Borrower prepay a Subprime Loan during the twelve month period following Countrywide’s 's purchase of the loan, Seller shall reimburse Countywide, upon demand, some or all of the purchase price premium above par paid by Countrywide. The reimbursement shall be calculated using the following formula for “"Spot” " commitments and “"Pool” " commitments unless stated otherwise in the “"Pool” " commitment letter:: Purchase Price 12 minus the number of months Premium x expired since the date of purchase - Prepay = Premium ---------------------------------- paid by Countrywide 12 penalty Refund
Appears in 1 contract
Samples: Loan Purchase Agreement (E Loan Inc)