Common use of Procedure Upon Optional Termination or Auction Sale Clause in Contracts

Procedure Upon Optional Termination or Auction Sale. (a) In case of any Optional Termination the Terminating Entity shall, no later than ten (10) days prior to the first day of the Optional Termination Notice Period notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. Upon the purchase by the Terminating Entity of any Mortgage Loans pursuant to Section 11.01, the Trust Administrator shall notify each Servicer that is servicing any of such Mortgage Loans of such purchase.

Procedure Upon Optional Termination or Auction Sale. (a) In case of any Optional Termination pursuant to Section 11.01, the Terminating Entity shall, no later than ten (10) at least twenty days prior to the first day of date notice is to be mailed to the Optional Termination Notice Period affected Certificateholders notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. Upon the purchase by the Terminating Entity of any Mortgage Loans pursuant to Section 11.01, the Trust Administrator shall notify each Servicer that is servicing any of such Mortgage Loans of such purchase.

Procedure Upon Optional Termination or Auction Sale. (a) In case of any Optional Termination the Terminating Entity shall, no later than ten (10) days prior to the first day of the Optional Termination Notice Period notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchasedLoan Purchase Price. Upon the purchase by the Majority Servicer on behalf of the Terminating Entity of any Mortgage Loans pursuant to Section 11.01, the Trust Administrator shall notify each Servicer that is servicing any of such Mortgage Loans of such purchase.

Procedure Upon Optional Termination or Auction Sale. (a) In case of any Optional Termination the Terminating Entity Servicer shall, no later than ten (10) 10 days prior to the first day of the Optional Termination Notice Period notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. Upon the purchase by the Terminating Entity Servicer of any Mortgage Loans pursuant to Section 11.01, the Trust Administrator shall notify each the Servicer that is servicing any of such Mortgage Loans of such purchase.

Procedure Upon Optional Termination or Auction Sale. (a) In case of any Optional Termination Termination, the Terminating Entity shall, no later than ten (10) days prior to the first day of the Optional Termination Notice Period notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. Upon the purchase by the Terminating Entity of any Mortgage Loans pursuant to Section 11.01, the Trust Administrator shall notify each Servicer that is servicing any of such Mortgage Loans of such purchase.

Procedure Upon Optional Termination or Auction Sale. (a) In case of any Optional Termination pursuant to Section 11.01, the Terminating Entity shall, no later than ten (10) at least twenty days prior to the first day of date notice is to be mailed to the Optional Termination Notice Period affected Certificateholders notify the Trustee Trustee, the Class I-A-5 Insurer and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. Upon the purchase by the Terminating Entity of any Mortgage Loans pursuant to Section 11.01, the Trust Administrator shall notify each Servicer that is servicing any of such Mortgage Loans of such purchase.

Procedure Upon Optional Termination or Auction Sale. (a) In case of any Optional Termination the Terminating Entity Servicer shall, no later than ten (10) 10 days prior to the first day of the Optional Termination Notice Period notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. Upon the purchase by the Terminating Entity of any Mortgage Loans pursuant to Section 11.01, the Trust Administrator shall notify each Servicer that is servicing any of such Mortgage Loans of such purchase.119

Procedure Upon Optional Termination or Auction Sale. (a) In case of any Optional Termination the Terminating Entity shall, no later than ten (10) 10 days prior to the first day of the Optional Termination Notice Period notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. Upon the purchase by the Terminating Entity of any Mortgage Loans pursuant to Section 11.01, the Trust Administrator shall notify each the Servicer that is servicing any of such Mortgage Loans of such purchase.