Common use of Purchase and Conveyance Clause in Contracts

Purchase and Conveyance. The Seller, in exchange for the payment of the Purchase Price by the Purchaser on the Closing Date, receipt of which is hereby acknowledged, hereby sells, transfers, assigns, sets over and conveys to the Purchaser, without recourse, but subject to the terms of this Agreement, all of its rights, title and interest in and to the Mortgage Loans identified in the Mortgage Loan Schedule on Exhibit 4 as being sold by it, which Mortgage Loans identified on Exhibit 4 collectively have an aggregate Cut-off Date Principal Balance of [$_____________], together with the related Mortgage Files and all rights and obligations arising under the documents contained therein. With respect to each Mortgage Loan purchased, the Purchaser shall own and be entitled to receive: (a) all scheduled principal due after the Cut-off Date, (b) all other payments and/or recoveries of principal collected on or after the Cut-off Date (provided, however, that all scheduled payments of principal due on or before the Cut-off Date and collected by the Servicer after the Cut-off Date shall belong to the Seller) and (c) all payments of interest on the Mortgage Loans net of the Servicing Fee (minus that portion of any such interest payment that is allocable to the period prior to the Cut-off Date).

Purchase and Conveyance. The Seller, in exchange Purchaser will purchase all Mortgage Loans approved for the payment of the Purchase Price funding by the Purchaser on under Purchaser’s mortgage loan purchase program and pursuant to the term of this Agreement and the Exhibits attached hereto. On or prior to the Closing Date, receipt of which is hereby acknowledgedthe Seller shall receive a Purchase Advice. Upon such receipt, hereby sellsthe Seller shall sell, transferstransfer, assignsassign, sets set over and conveys convey to the Purchaser, without recourse, but subject to the representations, warranties, terms and provisions of this Agreement, all of its rightsthe right, title and interest of the Seller in and to the related Mortgage Loans identified in the Mortgage Loan Schedule on Exhibit 4 as being sold by it, which Mortgage Loans identified on Exhibit 4 collectively have an aggregate Cut-off Date Principal Balance of [$_____________], together with the related Mortgage Files and all rights and obligations arising under the documents contained therein. With respect to each Mortgage Loan purchased, the Purchaser shall own and be entitled to receive: (a) all scheduled principal due after the Cut-off Date, (b) all other payments and/or recoveries of principal collected on or after the Cut-off Date (provided, however, that all scheduled payments of principal due on or before the Cut-off Date and whether or not collected by the Servicer after as of the Cut-off Date shall belong to the Seller) and (c) all payments of interest on the Mortgage Loans net of the Servicing Fee (minus that portion of any such interest payment that is allocable to the period prior to the Cut-off Date)) and the LPMI Fee, if applicable.

Purchase and Conveyance. The On each related Closing Date, the Seller, simultaneously with the execution and delivery of the related Acknowledgment and Conveyance Agreement, in exchange for the payment of the applicable Purchase Price by the Purchaser on the Closing DatePurchaser, receipt of which is hereby acknowledged, hereby sells, transfers, assigns, sets over and conveys to the Purchaser, without recourse, but subject to the terms of this Agreement, all of its rights, title and interest in and to the Mortgage Loans identified in the related Mortgage Loan Schedule on Exhibit 4 as being sold by it, which Mortgage Loans identified on Exhibit 4 collectively have Package having an aggregate principal balance on the related Cut-off Date Principal Balance in an amount as set forth in the related Purchase Price and Terms Agreement, or in such other amount as agreed by the Purchaser and the Seller as evidenced by the actual aggregate principal balance of [$_____________]the Mortgage Loan Package accepted by the Purchaser on the related Closing Date, together with the related Mortgage Files and all rights and obligations arising under the documents contained therein. With respect to each Mortgage Loan purchased, the Purchaser shall own and be entitled to receive: (a) all scheduled principal due after the applicable Cut-off Date, (b) all other payments and/or recoveries of principal collected on or after the applicable Cut-off Date (provided, however, that all scheduled payments of principal due on or before the Cut-off applicable Cutoff Date and collected by the Servicer after the applicable Cut-off Date shall belong to the Seller) and (c) all payments of interest on the Mortgage Loans net of the Servicing Fee (minus that portion of any such interest payment that is allocable to the period prior to the applicable Cut-off Date).

Purchase and Conveyance. The Seller, in exchange for the payment of the Purchase Price by the Purchaser on the Closing Date, receipt of which is hereby acknowledged, hereby sells, transfers, assigns, sets over and conveys to the Purchaser, without recourse, but subject to the terms of this Agreement, all of its rights, title and interest in and to the Mortgage Loans identified in the Mortgage Loan Schedule on Exhibit 4 as being sold by it, which Mortgage Loans identified on Exhibit 4 collectively have an aggregate Cut-off Date Principal Balance of [$______________], together with the related Mortgage Files and all rights and obligations arising under the documents contained therein. With respect to each Mortgage Loan purchased, the Purchaser shall own and be entitled to receive: (a) all scheduled principal due after the Cut-off Date, (b) all other payments and/or recoveries of principal collected on or after the Cut-off Date (provided, however, that all scheduled payments of principal due on or before the Cut-off Date and collected by the Servicer after the Cut-off Date shall belong to the Seller) and (c) all payments of interest on the Mortgage Loans net of the Servicing Fee (minus that portion of any such interest payment that is allocable to the period prior to the Cut-off Date).

Purchase and Conveyance. The Seller, in exchange for the payment of the Purchase Price by the Purchaser on the Closing Date, receipt of which is hereby acknowledged, hereby sells, transfers, assigns, sets over and conveys to the Purchaser, without recourse, but subject to the terms of this Agreement, all of its rights, title and interest in and to the Mortgage Loans identified in the Mortgage Loan Schedule on Exhibit 4 as being sold by it, which Mortgage Loans identified on Exhibit 4 collectively have an aggregate Cut-off Date Principal Balance of [$_____________]51,759,440.05, together with the related Mortgage Files and all rights and obligations arising under the documents contained therein. With respect to each Mortgage Loan purchased, the Purchaser shall own and be entitled to receive: (a) all scheduled principal due after the Cut-off Date, (b) all other payments and/or recoveries of principal collected on or after the Cut-off Date (provided, however, that all scheduled payments of principal due on or before the Cut-off Date and collected by the Servicer after the Cut-off Date shall belong to the Seller) and (c) all payments of interest on the Mortgage Loans net of the Servicing Fee (minus that portion of any such interest payment that is allocable to the period prior to the Cut-off Date).

Purchase and Conveyance. The Seller, in exchange for the payment of the applicable Purchase Price by the Purchaser on the related Closing Date, receipt of which is hereby acknowledged, hereby sells, transfers, assigns, sets over and conveys to the Purchaser, without recourse, but subject to the terms of this Agreement, all of its rights, title and interest in and to the Mortgage Loans identified in the a Mortgage Loan Schedule on Exhibit 4 as being sold by it, which Mortgage Loans identified on Exhibit 4 collectively have Package having an aggregate principal balance on the related Cut-off Date Principal Balance of [$_____________]in an amount as set forth in the related Term Sheet, together with the related Mortgage Files and all rights and obligations arising under the documents contained therein, but excluding any BPP Fees. With respect to each Mortgage Loan purchased, the Purchaser shall own and be entitled to receive: (a) all scheduled principal due after the applicable Cut-off Date, (b) all other payments and/or recoveries of principal collected on or after the applicable Cut-off Date (provided, however, that all scheduled payments of principal due on or before the applicable Cut-off Date and collected by the Servicer after the applicable Cut-off Date shall belong to the Seller) and ), (c) all payments of interest on the Mortgage Loans net of the Servicing Fee (minus that portion of any such interest payment that is allocable to the period prior to the applicable Cut-off Date)) and (d) all BPP Mortgage Loan Payments payable by the Servicer pursuant to Subsection 10.26 with respect to scheduled principal and interest due after the applicable Cut-off Date.