Common use of Purchase Price Protection Clause in Contracts

Purchase Price Protection. With respect to any Mortgage Loan that is prepaid in full during the two (2) month period from and after the Closing Date, the Company shall upon written notice thereof from Purchaser received by Company within sixty (60) days of the date of such prepayment reimburse the Purchaser, within thirty (30) days of such notice, the amount (if any) by which the Purchase Price paid by the Purchaser to the Company exceeded 100% of the outstanding scheduled principal balance of the Mortgage Loan as of the Cut-off Date. Upon any assignment of a mortgage Loan and/or this Agreement, the Purchaser may at its option retain its rights under this Section 3.05 notwithstanding such assignment.

Purchase Price Protection. With respect to any Mortgage Loan that is prepaid in full during the two (2) month period from and after the related Closing Date, the Company Seller shall upon written notice thereof from Purchaser received by Company Seller within sixty (60) days of the date of such prepayment reimburse the Purchaser, within thirty (30) days of such notice, the amount (if any) by which the Purchase Price paid by the Purchaser to the Company Seller exceeded 100% of the outstanding scheduled principal balance of the Mortgage Loan as of the related Cut-off Date. Upon any assignment of a mortgage Mortgage Loan and/or this Agreement, the Purchaser may at its option retain its rights under this Section 3.05 Subsection 7.05 notwithstanding such assignment.

Purchase Price Protection. With respect to any first lien Mortgage Loan that is prepaid in full during the two (2) month period from and after the related Closing Date, the Company Seller shall upon written notice thereof from Purchaser received by Company Seller within sixty (60) days of the date of such prepayment reimburse the Purchaser, within thirty (30) days of such notice, the amount (if any) by which the Purchase Price paid by the Purchaser to the Company Seller exceeded 100% of the outstanding scheduled principal balance of the Mortgage Loan as of the related Cut-off Date. Upon any assignment of a mortgage Mortgage Loan and/or this Agreement, the Purchaser may at its option retain its rights under this Section 3.05 Subsection 7.08 notwithstanding such assignment.