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Common use of Purchase Price Protection Clause in Contracts

Purchase Price Protection. With respect to any Mortgage Loan that prepays in full at any time prior to the date that is sixty (60) days after the Closing Date for such Mortgage Loan, the Company shall reimburse the Purchaser, within 30 days following the prepayment in full of such Mortgage Loan, the amount (if any) by which the portion of the Purchase Price paid by the Purchaser to the Company for such Mortgage Loan exceeded 100% of the outstanding scheduled principal balance of the Mortgage Loan as of the related Cut-off Date.

Appears in 3 contracts

Samples: Flow Sale and Servicing Agreement (Luminent Mortgage Trust 2006-6), Flow Sale and Servicing Agreement (Luminent Mortgage Trust 2006-7), Flow Sale and Servicing Agreement (Luminent Mortgage Trust 2007-1)

Purchase Price Protection. With respect to any Mortgage Loan that prepays in full at any time prior to the date that is sixty (60) 60 days after the Closing Date for such Mortgage Loan, the Company shall reimburse the Purchaser, within 30 days following the prepayment in full of such Mortgage Loan, the amount (if any) by which the portion of the Purchase Price paid by the Purchaser to the Company for such Mortgage Loan exceeded 100% of the outstanding scheduled principal balance of the Mortgage Loan as of the related Cut-off Date.

Appears in 1 contract

Samples: Flow Sale and Servicing Agreement (Lares Asset Securitization, Inc.)

Purchase Price Protection. With respect to any Mortgage Loan that prepays in full at any time prior to the date that is sixty (60) days after expiration of the Closing Date period specified in the related Memorandum of Sale for such Mortgage Loan, the Company shall reimburse the Purchaser, within 30 days following the prepayment in full of such Mortgage Loan, the amount (if any) by which the portion of the Purchase Price paid by the Purchaser to the Company for such Mortgage Loan exceeded 100% of the outstanding scheduled principal balance of the Mortgage Loan as of the related Cut-off Date.

Appears in 1 contract

Samples: Mortgage Loan Flow Purchase, Sale and Servicing Agreement (SunTrust Real Estate Trust, LLC)

Purchase Price Protection. With respect to any Mortgage Loan that prepays in full at any time prior to the date that is sixty (60) days after expiration of the Closing Date Holding Period for such Mortgage Loan, the Company shall reimburse the Purchaser, within 30 days following the prepayment in full of such Mortgage Loan, the amount (if any) by which the portion of the Purchase Price paid by the Purchaser to the Company for such Mortgage Loan exceeded 100% of the outstanding scheduled principal balance of the Mortgage Loan as of the related Cut-off Date.

Appears in 1 contract

Samples: Flow Sale and Servicing Agreement (Banc of America Funding 2006-D Trust)