Common use of Purchase Price; Payments on the Mortgage Loans Clause in Contracts

Purchase Price; Payments on the Mortgage Loans. (a) The purchase price for the Mortgage Loans shall be an amount equal to $1,704,517.94. Such purchase price shall be payable in immediately available funds on the Closing Date. (b) The Purchaser shall be entitled to all payments of principal and interest received on or after the Cut-off Date. All payments of principal and interest received before the Cut-off Date shall belong to the Seller. The Seller shall hold in trust for the Purchaser and shall promptly remit to the Purchaser, any payments on the Mortgage Loans received by the Seller that belong to the Purchaser under the terms of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (Cit Home Equity Loan Trust 1997-1)

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Purchase Price; Payments on the Mortgage Loans. (a) The purchase price for the Mortgage Loans shall be an amount equal to $1,704,517.9417,233,224.37. Such purchase price shall be payable in immediately available funds on the Closing Date. (b) The Purchaser shall be entitled to all payments of principal and interest received on or after the Cut-off Date. All payments of principal and interest received before the Cut-off Date shall belong to the Seller. The Seller shall hold in trust for the Purchaser and shall promptly remit to the Purchaser, any payments on the Mortgage Loans received by the Seller that belong to the Purchaser under the terms of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (Cit Group Securitization Corp Iii)

Purchase Price; Payments on the Mortgage Loans. (a) The purchase price for the Mortgage Loans shall be an amount equal to $1,704,517.941,074,715.36. Such purchase price shall be payable in immediately available funds on the Closing Date. (b) The Purchaser shall be entitled to all payments of principal and interest received on or after the Cut-off Date. All payments of principal and interest received before the Cut-off Date shall belong to the Seller. The Seller shall hold in trust for the Purchaser and shall promptly remit to the Purchaser, any payments on the Mortgage Loans received by the Seller that belong to the Purchaser under the terms of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (Cit Group Securitization Corp Iii)

Purchase Price; Payments on the Mortgage Loans. (a) The purchase price for the Mortgage Loans shall be an amount equal to $1,704,517.94500,068,599.83. Such purchase price shall be payable in immediately available funds on the Closing Date. (b) The Purchaser shall be entitled to all payments of principal and interest received on or after the Cut-off Date. All payments of principal and interest received before the Cut-off Date shall belong to the Seller. The Seller shall hold in trust for the Purchaser and shall promptly remit to the Purchaser, any payments on the Mortgage Loans received by the Seller that belong to the Purchaser under the terms of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (Cit Home Equity Loan Trust 1997-1)

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Purchase Price; Payments on the Mortgage Loans. (a) The purchase price for the Mortgage Loans shall be an amount equal to $1,704,517.9423,917,769.60. Such purchase price shall be payable in immediately available funds on the Closing Date. (b) The Purchaser shall be entitled to all payments of principal and interest received on or after the Cut-off Date. All payments of principal and interest received before the Cut-off Date shall belong to the Seller. The Seller shall hold in trust for the Purchaser and shall promptly remit to the Purchaser, any payments on the Mortgage Loans received by the Seller that belong to the Purchaser under the terms of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (Cit Home Equity Loan Trust 1997-1)

Purchase Price; Payments on the Mortgage Loans. (a) The purchase price for the Mortgage Loans shall be an amount equal to $1,704,517.94341,424,511.24. Such purchase price shall be payable in immediately available funds on the Closing Date. (b) The Purchaser shall be entitled to all payments of principal and interest received on or after the Cut-off Date. All payments of principal and interest received before the Cut-off Date shall belong to the Seller. The Seller shall hold in trust for the Purchaser and shall promptly remit to the Purchaser, any payments on the Mortgage Loans received by the Seller that belong to the Purchaser under the terms of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (Cit Group Securitization Corp Iii)

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