Common use of Qualification Defect Clause in Contracts

Qualification Defect. If (A) any person required to cure or purchase under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms or under a separate agreement for a Mortgage Loan affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure or purchase a Mortgage Loan affected by a Qualification Defect, the Trustee shall dispose of such Mortgage Loan in such manner and for such price as the Trustee determines are appropriate, provided that the removal of such Mortgage Loan occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan affected by a Qualification Defect be removed from the Trust by the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMIC. Accordingly, the Trustee is not required to sell an affected Mortgage Loan for its fair market value nor shall the Trustee be required to make up any shortfall resulting from the sale of such Mortgage Loan. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note Rate to the date of disposition and (B) the net amount received by the Trustee from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee shall pursue the legal remedies of the Trust on the Trust’s behalf and the Trust shall reimburse the Trustee for any legal or other expenses of the Trustee related to such pursuit not recovered from such person.

Qualification Defect. If (A) any person required to cure or purchase under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms or under a separate agreement for a Mortgage Loan affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure or purchase a Mortgage Loan affected by a Qualification Defect, the Trustee Securities Administrator shall dispose of such Mortgage Loan in such manner and for such price as the Trustee Securities Administrator determines are appropriate, provided that the removal of such Mortgage Loan occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee Securities Administrator may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan affected by a Qualification Defect be removed from the Trust by the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMIC. Accordingly, the Trustee Securities Administrator is not required to sell an affected Mortgage Loan for its fair market value nor shall the Trustee Securities Administrator be required to make up any shortfall resulting from the sale of such Mortgage Loan. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note Rate to the date of disposition and (B) the net amount received by the Trustee Securities Administrator from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee Securities Administrator shall pursue the legal remedies of the Trust on the Trust’s behalf and the Trust shall reimburse the Trustee Securities Administrator for any legal or other expenses of the Trustee Securities Administrator related to such pursuit not recovered from such person.

Qualification Defect. If (A) any person Person required to cure cure, purchase, or purchase substitute under subsections 2.03(a), 2.03(b), 2.03(cSection 2.06(a) or 2.03(d) of these Standard Terms or under a separate agreement above for a Mortgage Loan an Asset affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure or purchase a Mortgage Loan affected by a Qualification Defectsubsections, the Trustee shall dispose of such Mortgage Loan an Asset in such manner and for such price as the Servicer advises the Trustee determines are appropriate, provided that the removal of such Mortgage Loan Asset occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan an Asset affected by a Qualification Defect be removed from the Trust by before the 90th day from the Defect Discovery Date so that the related REMIC(s) REMIC or Pooling REMIC will continue to qualify as a REMIC. Accordingly, the Trustee is not required to sell an affected Mortgage Loan Asset for its fair market value nor shall the Trustee be required to make up any shortfall resulting from the sale of such Mortgage LoanAsset. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(cSection 2.06(a) or 2.03(d) of these Standard Terms above shall be liable to the Trust for (i1) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note applicable Asset Rate to the date of disposition and (B) the net amount received by the Trustee from the disposition (after the payment of related expenses), (ii2) interest on such difference at the Note Asset Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii3) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee Except where the Servicer is the person failing to perform, the Servicer shall pursue the legal remedies of the Trust on the Trust’s 's behalf and the Trust shall reimburse the Trustee Servicer for any legal or other expenses of the Trustee Servicer related to such pursuit not recovered from such person. If the Servicer is the person failing to perform, the Trustee shall pursue the Trust's legal remedies against the Servicer and the Trust shall reimburse the Trustee for its related legal or other expenses.

Qualification Defect. If (Ai) any person Person required to cure cure, purchase or purchase under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms or under a separate agreement substitute for a Mortgage Loan affected by a Qualification Defect under the terms of the Trust Agreement or a separate agreement fails to perform within the earlier of (1A) 75 days of the Defect Discovery Date or (2B) the time limit set forth in those subsections the Trust Agreement or that such separate agreement or (Bii) no person Person is obligated to cure cure, purchase or purchase substitute for a Mortgage Loan affected by a Qualification Defect, the Trustee shall dispose of such Mortgage Loan in such manner and for such price as the Master Servicer notifies the Trustee determines in writing are appropriate, provided that the removal of such Mortgage Loan occurs no later than on or before the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan affected by a Qualification Defect be removed from the Trust by before the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMICREMIC(s). Accordingly, the Trustee is not required to sell an affected Mortgage Loan for its fair market value nor shall the Trustee be required to make up any shortfall resulting from the sale of such Mortgage Loan. The person Person failing to perform cure, purchase, or substitute for a Mortgage Loan as required under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) the terms of these Standard Terms the Trust Agreement shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note related Mortgage Interest Rate to the date of disposition and (B) the net amount received by the Trustee from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note related Mortgage Interest Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee Master Servicer shall pursue the legal remedies of the Trust relating to this Section 2.03(j) on the Trust’s behalf 's behalf, and the Trust shall reimburse the Trustee Master Servicer for any legal or other expenses of the Trustee Master Servicer related to such pursuit not recovered from such personthe Person that failed to cure, purchase, or substitute for a Mortgage Loan as required under the terms of the Trust Agreement.

Qualification Defect. If (A) any person required to cure cure, purchase or purchase substitute under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms or under a separate agreement for a Mortgage Loan affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure or purchase a Mortgage Loan affected by a Qualification Defect, the Trustee shall dispose of such Mortgage Loan in such manner and for such price as the Trustee (in consultation with the Securities Administrator) determines are appropriate, provided that the removal of such Mortgage Loan occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan affected by a Qualification Defect be removed from the Trust by the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMIC. Accordingly, the Trustee is not required to sell an affected Mortgage Loan for its fair market value nor shall the Trustee be required to make up any shortfall resulting from the sale of such Mortgage Loan. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note Rate to the date of disposition and (B) the net amount received by the Trustee from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee shall pursue the legal remedies of the Trust on the Trust’s behalf and the Trust shall reimburse the Trustee for any legal or other expenses of the Trustee related to such pursuit not recovered from such person.

Qualification Defect. If (A) any person required to cure or purchase under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms or under a separate agreement for a Mortgage Loan affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure or purchase a Mortgage Loan affected by a Qualification Defect, the Trustee shall dispose of such Mortgage Loan in such manner and for such price as the Trustee determines are appropriate, provided that the removal of such Mortgage Loan occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan affected by a Qualification Defect be removed from the Trust by the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMIC. Accordingly, the Trustee is not required to sell an affected Mortgage Loan for its fair market value nor shall the Trustee be required to make up any shortfall resulting from the sale of such Mortgage Loan. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note Rate to the date of disposition and (B) the net amount received by the Trustee from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee shall pursue the legal remedies of the Trust on the Trust’s 's behalf and the Trust shall reimburse the Trustee for any legal or other expenses of the Trustee related to such pursuit not recovered from such person.

Qualification Defect. If (A) any person Person required to cure cure, purchase, or purchase substitute under subsections 2.03(a), 2.03(b), 2.03(cSection 2.05(a) or 2.03(d) of these Standard Terms or under a separate agreement above for a Mortgage Loan an Asset affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure or purchase a Mortgage Loan affected by a Qualification Defectsubsections, the Trustee Master Servicer shall dispose of such Mortgage Loan an Asset in such manner and for such price as the Trustee Master Servicer determines are appropriate, provided that the removal of such Mortgage Loan Asset occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan an Asset affected by a Qualification Defect be removed from the Trust by before the 90th day from the Defect Discovery Date so that the related REMIC(s) REMIC or Pooling REMIC will continue to qualify as a REMIC. Accordingly, the Trustee Master Servicer is not required to sell an affected Mortgage Loan Asset for its fair market value nor shall the Trustee Master Servicer be required to make up any shortfall resulting from the sale of such Mortgage LoanAsset. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(cSection 2.05(a) or 2.03(d) of these Standard Terms above shall be liable to the Trust for (i1) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note applicable Asset Rate to the date of disposition and (B) the net amount received by the Trustee Master Servicer from the disposition (after the payment of related expenses), (ii2) interest on such difference at the Note Asset Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii3) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee Except where the Master Servicer is the person failing to perform, the Master Servicer shall pursue the legal remedies of the Trust on the Trust’s 's behalf and the Trust shall reimburse the Trustee Master Servicer for any legal or other expenses of the Trustee Master Servicer related to such pursuit not recovered from such person. If the Master Servicer is the person failing to perform, the Trustee shall pursue the Trust's legal remedies against the Master Servicer and the Trust shall reimburse the Trustee for its related legal or other expenses.

Qualification Defect. If (A) any person required to cure or purchase under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms or under a separate agreement for a Mortgage Loan affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure or purchase a Mortgage Loan affected by a Qualification Defect, the Trustee shall dispose of such Mortgage Loan in such manner and for such price as the Trustee determines are appropriate, provided that the removal of such Mortgage Loan occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such the Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan affected by a Qualification Defect be removed from the Trust by the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMIC. Accordingly, the Trustee is not required to sell an affected Mortgage Loan for its fair market value nor shall the Trustee be required to make up any shortfall resulting from the sale of such Mortgage Loan. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note Rate to the date of disposition and (B) the net amount received by the Trustee from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee shall pursue the legal remedies of the Trust on the Trust’s 's behalf and the Trust shall reimburse the Trustee for any legal or other expenses of the Trustee related to such pursuit not recovered from such person.

Qualification Defect. If (A) any person required to cure or purchase under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms or under a separate agreement for a Mortgage Loan affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure or purchase a Mortgage Loan affected by a Qualification Defect, the Trustee shall dispose of such Mortgage Loan in such manner and for such price as the Trustee (in consultation with the Securities Administrator) determines are appropriate, provided that the removal of such Mortgage Loan occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan affected by a Qualification Defect be removed from the Trust by the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMIC. Accordingly, the Trustee is not required to sell an affected Mortgage Loan for its fair market value nor shall the Trustee be required to make up any shortfall resulting from the sale of such Mortgage Loan. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note Rate to the date of disposition and (B) the net amount received by the Trustee from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee shall pursue the legal remedies of the Trust on the Trust’s behalf and the Trust shall reimburse the Trustee for any legal or other expenses of the Trustee related to such pursuit not recovered from such person.

Qualification Defect. If (A) any person required to cure cure, purchase, or purchase -------------------- substitute under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d2.03(c) of these Standard Terms or under a separate agreement for a Mortgage Loan Asset affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure cure, purchase or purchase substitute for a Mortgage Loan Asset affected by a Qualification Defect, the Trustee shall dispose of such Mortgage Loan Asset in such manner and for such price as the Master Servicer notifies the Trustee determines are appropriate, provided that the removal of such Mortgage Loan Asset occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan Asset affected by a Qualification Defect be removed from the Trust by before the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMICREMIC(s). Accordingly, the Trustee is not required to sell an affected Mortgage Loan Asset for its fair market value nor shall the Trustee be required to make up any shortfall resulting from the sale of such Mortgage LoanAsset. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d2.03(c) of these Standard Terms shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan Asset plus accrued and unpaid interest thereon at the Note Rate to the date of disposition and (B) the net amount received by the Trustee from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee Except where the Master Servicer is the person failing to perform, the Master Servicer shall pursue the legal remedies of the Trust on the Trust’s 's behalf and the Trust shall reimburse the Trustee Master Servicer for any legal or other expenses of the Trustee Master Servicer related to such pursuit not recovered from such person. If the Master Servicer is the person failing to perform, the Trustee shall pursue the Trust's legal remedies against the Master Servicer and the Trust shall reimburse the Trustee for its related legal or other expenses. Any person required under this Section 2.03 to give notice or to make a request of another person to give notice shall give such notice or make such request promptly.

Qualification Defect. If (A) any person required to cure cure, purchase or purchase substitute under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms or under a separate agreement for a Mortgage Loan affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure or purchase a Mortgage Loan affected by a Qualification Defect, the Trustee shall dispose of such Mortgage Loan in such manner and for such price as the Trustee (in consultation with the Securities Administrator) determines are appropriate, provided that the removal of such Mortgage Loan occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan affected by a Qualification Defect be removed from the Trust by the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMIC. Accordingly, the Trustee is not required to sell an affected Mortgage Loan for its fair market value nor shall the Trustee be required to make up any shortfall resulting from the sale of such Mortgage Loan. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note Rate to the date of disposition and (B) the net amount received by the Trustee from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee shall pursue the legal remedies of the Trust on the Trust’s behalf and the Trust shall reimburse the Trustee for any legal or other expenses of the Trustee related to such pursuit not recovered from such person.

Qualification Defect. If (A) any person required to cure or purchase under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms or under a separate agreement for a Mortgage Loan affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure or purchase a Mortgage Loan affected by a Qualification Defect, the Trustee Securities Administrator shall dispose of such Mortgage Loan in such manner and for such price as the Trustee Securities Administrator determines are appropriate, provided that the removal of such Mortgage Loan occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee Securities Administrator may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan affected by a Qualification Defect be removed from the Trust by the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMIC. Accordingly, the Trustee Securities Administrator is not required to sell an affected Mortgage Loan for its fair market value nor shall the Trustee Securities Administrator be required to make up any shortfall resulting from the sale of such Mortgage Loan. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d) of these Standard Terms shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan plus accrued and unpaid interest thereon at the Note Rate to the date of disposition and (B) the net amount received by the Trustee Securities Administrator from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee Securities Administrator shall pursue the legal remedies of the Trust on the Trust’s 's behalf and the Trust shall reimburse the Trustee Securities Administrator for any legal or other expenses of the Trustee Securities Administrator related to such pursuit not recovered from such person.

Qualification Defect. If (A) any person required to cure cure, purchase, or purchase substitute under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d2.03(c) of these Standard Terms or under a separate agreement for a Mortgage Loan Asset affected by a Qualification Defect fails to perform within the earlier of (1) 75 days of the Defect Discovery Date or (2) the time limit set forth in those subsections or that separate agreement or (B) no person is obligated to cure cure, purchase or purchase substitute for a Mortgage Loan Asset affected by a Qualification Defect, the Trustee shall dispose of such Mortgage Loan Asset in such manner and for such price as the Master Servicer notifies the Trustee determines are appropriate, provided that the removal of such Mortgage Loan Asset occurs no later than the 90th day from the Defect Discovery Date. If the Servicer is not the person required to cure or repurchase the Mortgage Loan, the Trustee may consult with such Servicer to determine an appropriate manner of disposition for and price for such Mortgage Loan. It is the express intent of the parties that a Mortgage Loan Asset affected by a Qualification Defect be removed from the Trust by before the 90th day from the Defect Discovery Date so that the related REMIC(s) will continue to qualify as a REMICREMIC(s). Accordingly, the Trustee is not required to sell an affected Mortgage Loan Asset for its fair market value nor shall the Trustee be required to make up any shortfall resulting from the sale of such Mortgage LoanAsset. The person failing to perform under subsections 2.03(a), 2.03(b), 2.03(c) or 2.03(d2.03(c) of these Standard Terms shall be liable to the Trust for (i) any difference between (A) the Unpaid Principal Balance of the Mortgage Loan Asset plus accrued and unpaid interest thereon at the Note Rate to the date of disposition and (B) the net amount received by the Trustee from the disposition (after the payment of related expenses), (ii) interest on such difference at the Note Rate (less the Administrative Cost Rate) from the date of disposition to the date of payment and (iii) any legal and other expenses incurred by or on behalf of the Trust in seeking such payments. The Trustee Except where the Master Servicer is the person failing to perform, the Master Servicer shall pursue the legal remedies of the Trust on the Trust’s 's behalf and the Trust shall reimburse the Trustee Master Servicer for any legal or other expenses of the Trustee Master Servicer related to such pursuit not recovered from such person. If the Master Servicer is the person failing to perform, the Trustee shall pursue the Trust's legal remedies against the Master Servicer and the Trust shall reimburse the Trustee for its related legal or other expenses. Any person required under this Section 2.03 to give notice or to make a request of another person to give notice shall give such notice or make such request promptly.