Common use of Purchases Upon Conversion Clause in Contracts

Purchases Upon Conversion. The Holders of the Class R Certificates, by their acceptance of such Certificates shall agree that with respect to each Contract that converts from a variable Contract Rate to a fixed Contract Rate during any Collection Period pursuant to the terms of such Contract that they will: (i) Repurchase such Contracts not later than the 5th day following such Collection Period at a price equal to the Scheduled Principal Balance of such Contract on the date of such conversion, plus all accrued and unpaid interest thereon to such date of conversion. Amounts in respect of such price shall be delivered to the Servicer for deposit to the Certificate Account. (ii) Any amounts received as payment in respect of any such Contract repurchased pursuant to clause (i) above after the date of repurchase (other than the amount referred to in clause (i) above), shall not be a part of the Trust Fund and shall be paid by the Servicer to the Holders of the Class R Certificates or, if such amounts have been deposited into the Certificate Account, shall be withdrawn therefrom by the Servicer and paid by the Servicer to the Holders of the Class R Certificates. (iii) Promptly after the purchase referred to in this Section 11.12, the Trustee shall execute such documents as are presented to it by the Servicer on behalf of the Holder of the Class R Certificate and are reasonably necessary to convey the purchased Contract to the Holder of the Class R Certificate.

Purchases Upon Conversion. The Holders of the Class R Certificates, by their acceptance of such Certificates shall agree that with respect to each Group II Contract that converts from a variable Contract Rate to a fixed Contract Rate during any Collection Period pursuant to the terms of such Contract that they will: (i) Repurchase such Contracts not later than the 5th day following such Collection Period at a price equal to the Scheduled Principal Balance of such Contract on the date of such conversion, plus all accrued and unpaid interest thereon to such date of conversion. Amounts in respect of such price shall be delivered to the Servicer for deposit to the Group II Certificate Account. (ii) Any amounts received as payment in respect of any such Contract repurchased pursuant to clause (i) above after the date of repurchase (other than the amount referred to in clause (i) above), shall not be a part of the Trust Fund and shall be paid by the Servicer to the Holders of the Class R Certificates or, if such amounts have been deposited into the Group II Certificate Account, shall be withdrawn therefrom by the Servicer and paid by the Servicer to the Holders of the Class R Certificates. (iii) . Promptly after the purchase referred to in this Section 11.12, the Trustee shall execute such documents as are presented to it by the Servicer on behalf of the Holder of the Class R Certificate and are reasonably necessary to convey the purchased Contract to the Holder of the Class R Certificate.. 100

Purchases Upon Conversion. 106 The Holders of the Class R Certificates, by their acceptance of such Certificates shall agree that with respect to each Group II Contract that converts from a variable Contract Rate to a fixed Contract Rate during any Collection Period pursuant to the terms of such Contract that they will: (i) Repurchase such Contracts not later than the 5th day following such Collection Period at a price equal to the Scheduled Principal Balance of such Contract on the date of such conversion, plus all accrued and unpaid interest thereon to such date of conversion. Amounts in respect of such price shall be delivered to the Servicer for deposit to the Group II Certificate Account. (ii) Any amounts received as payment in respect of any such Contract repurchased pursuant to clause (i) above after the date of repurchase (other than the amount referred to in clause (i) above), shall not be a part of the Trust Fund and shall be paid by the Servicer to the Holders of the Class R Certificates or, if such amounts have been deposited into the Group II Certificate Account, shall be withdrawn therefrom by the Servicer and paid by the Servicer to the Holders of the Class R Certificates. (iii) Promptly after the purchase referred to in this Section 11.12, the Trustee shall execute such documents as are presented to it by the Servicer on behalf of the Holder of the Class R Certificate and are reasonably necessary to convey the purchased Contract to the Holder of the Class R Certificate.. 107

Purchases Upon Conversion. The Holders of the Class R Certificates, by their acceptance of such Certificates shall agree that with respect to each Group II Contract that converts from a variable Contract Rate to a fixed Contract Rate during any Collection Period pursuant to the terms of such Contract that they will: (i) Repurchase such Contracts not later than the 5th day following such Collection Period at a price equal to the Scheduled Principal Balance of such Contract on the date of such conversion, plus all accrued and unpaid interest thereon to such date of conversion. Amounts in respect of such price shall be delivered to the Servicer for deposit to the Group II Certificate Account. (ii) Any amounts received as payment in respect of any such Contract repurchased pursuant to clause (i) above after the date of repurchase (other than the amount referred to in clause (i) above), shall not be a part of the Trust Fund and shall be paid by the Servicer to the Holders of the Class R Certificates or, if such amounts have been deposited into the Group II Certificate Account, shall be withdrawn therefrom by the Servicer and paid by the Servicer to the Holders of the Class R Certificates. (iii) . Promptly after the purchase referred to in this Section 11.12, the Trustee shall execute such documents as are presented to it by the Servicer on behalf of the Holder of the Class R Certificate and are reasonably necessary to convey the purchased Contract to the Holder of the Class R Certificate.

Purchases Upon Conversion. The Holders of the Class R Certificates, by their acceptance of such Certificates shall agree that with respect to each Group II Contract that converts from a variable Contract Rate to a fixed Contract Rate during any Collection Period pursuant to the terms of such Contract that they will: (i) Repurchase such Contracts not later than the 5th day following such Collection Period at a price equal to the Scheduled Principal Balance of such Contract on the date of such conversion, plus all accrued and unpaid interest thereon to such date of conversion. Amounts in respect of such price shall be delivered to the Servicer for deposit to the Group II Certificate Account. (ii) Any amounts received as payment in respect of any such Contract repurchased pursuant to clause (i) above after the date of repurchase (other than the amount referred to in clause (i) above), shall not be a part of the Trust Fund and shall be paid by the Servicer to the Holders of the Class R Certificates or, if such amounts have been deposited into the Certificate Account, shall be withdrawn therefrom by the Servicer and paid by the Servicer to the Holders of the Class R Certificates. (iii) For purposes of this Section 11.12, the Servicer shall not be considered the Holder of a Class R Certificate to the extent that it maintains a .01% Percentage Interest in the Class R Certificates for purposes of being the REMIC Administrator hereunder. (iv) Promptly after the purchase referred to in this Section 11.12, the Trustee shall execute such documents as are presented to it by the Servicer on behalf of the Holder of the Class R Certificate and are reasonably necessary to convey the purchased Contract to the Holder of the Class R Certificate.