Common use of Repurchase of Certain Mortgage Loans That Prepay in Full Clause in Contracts

Repurchase of Certain Mortgage Loans That Prepay in Full. With respect to Mortgage Loans without prepayment penalties, in the event that any such Mortgage Loan prepays in full during the first three months following the related Closing Date, the Seller shall pay the Purchaser, within ten (10) Business Days of such prepayment in full, an amount equal to the product of the applicable Purchase Price Percentage less 100%, multiplied by the outstanding principal balance of such Mortgage Loan as of the related Cut-off Date; provided, however, that the Purchaser must request that Seller pay such amount within sixty (60) days of the date the Mortgage Loan is prepaid in full.

Repurchase of Certain Mortgage Loans That Prepay in Full. With respect to Mortgage Loans without prepayment penaltiesPrepayment Penalties, in the event that any such Mortgage Loan prepays in full during the first three months following the related Closing Date, the Seller shall pay the Purchaser, within ten (10) Business Days of such prepayment in full, an amount equal to the product of the applicable Purchase Price Percentage less 100%, multiplied by the outstanding principal balance of such Mortgage Loan as of the related Cut-off Date; provided, however, that the Purchaser must request that Seller pay such amount within sixty (60) days of the date the Mortgage Loan is prepaid in full.