Common use of Prepayments in Full Clause in Contracts

Prepayments in Full. With respect to any Mortgage Loan which prepays in full on or prior to the date which is six (6) months after the related Closing Date, the Seller shall pay the Purchaser, within five (5) Business Days of such prepayment in full (or, if such prepayment in full occurs during the Interim Period, on or prior to the related Mortgage Loan remittance date following the pay-off date), (a) with respect to any Mortgage Loan without a Prepayment Penalty, an amount equal to the difference between (i) the Purchase Price (as adjusted) for such Mortgage Loan and (ii) the unpaid principal balance as of the pay-off date of such Mortgage Loan, and (b) with respect to any Mortgage Loan with a Prepayment Penalty, an amount equal to the difference between (i) the Purchase Price (as adjusted) for such Mortgage Loan and (ii) the sum of the unpaid principal balance as of the pay-off date of such Mortgage Loan and the Prepayment Penalty actually received by the Purchaser; provided that the Purchaser shall notify and invoice the Seller of any obligation to remit to the Purchaser the premium with respect to such Mortgage Loan pursuant to this Subsection 9.06 within one hundred eighty (180) days following the date on which such Mortgage Loan was paid in full for such claim(s) to be valid and enforceable.

Prepayments in Full. With respect to any Mortgage Loan which prepays in full on or prior to the date which is six the earlier of (6a) three (3) months after the related Closing DateDate or (b) the date of the related net interest margin securitization, the Seller Sellers shall pay the Purchaser, while Seller is interim servicing, within five (5) Business Days 30 days of such prepayment in full (orprepayment, if such prepayment in full occurs during the Interim Periodand thereafter, on or prior to the related Mortgage Loan remittance date following the pay-off date)within 5 business days of notice that includes collection notes and pay history, (a) with respect to any Mortgage Loan without a Prepayment Penalty, an amount equal to the difference between (i) the Purchase Price (as adjusted) for such Mortgage Loan and (ii) the unpaid outstanding principal balance of such Mortgage Loan as of the payCut-off date of such Mortgage LoanDate, and (b) with respect to any Mortgage Loan with a Prepayment Penalty, an amount equal to the difference between (i) the Purchase Price (as adjusted) for such Mortgage Loan and (ii) the sum of the unpaid outstanding principal balance as of the pay-off date of such Mortgage Loan as of the related Cut-off Date and the Prepayment Penalty actually received by during the Purchaser; provided that period the Seller is interim servicing the Mortgage Loans or contractually due thereafter. The Purchaser shall notify and invoice the Seller of any obligation to remit to the Purchaser the request for premium with respect to such Mortgage Loan pursuant to this Subsection 9.06 reimbursement within one hundred eighty ninety (18090) days following the date on which of Purchaser's receipt of notice of any such Mortgage Loan was paid in full for such claim(s) to be valid and enforceableprepayment.