Repurchase Upon Conversion. In the event the Mortgagor under any Convertible Mortgage Loan elects to convert said Mortgage Loan to a fixed rate mortgage loan, as provided in the related Mortgage Note, then the Company shall repurchase the related Mortgage Loan in the month the conversion takes place and in the manner prescribed in Section 3.04 at the Repurchase Price.
Appears in 6 contracts
Samples: Custodial Agreement (Bear Stearns ARM Trust 2006-4), Pooling and Servicing Agreement (Bear Stearns ARM Trust 2007-3), Custodial Agreement (Bear Stearns ARM Trust 2007-5)
Repurchase Upon Conversion. In the event the Mortgagor under any Convertible convertible Mortgage Loan elects to convert said Mortgage Loan to a fixed rate mortgage loan, as provided in the related Mortgage Note, then the Company shall repurchase the related Mortgage Loan in the month the conversion takes place and in the manner prescribed in Section 3.04 at the Repurchase Price.
Appears in 5 contracts
Samples: Custodial Agreement (Bear Stearns ARM Trust 2007-5), Pooling and Servicing Agreement (Bear Stearns ARM Trust 2007-3), Custodial Agreement (Bear Stearns ARM Trust 2007-4)
Repurchase Upon Conversion. In the event the Mortgagor under any Convertible Mortgage Loan elects to convert said Mortgage Loan to a fixed rate mortgage loan, as provided in the related Mortgage Note, then the Company shall repurchase the related Mortgage Loan in during the month the conversion takes place and in the manner prescribed in Section 3.04 3.03 hereof at the Repurchase Price.
Appears in 3 contracts
Samples: Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2007-1), Letter Agreement (MASTR Adjustable Rate Mortgages Trust 2007-3), Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-Oa2)
Repurchase Upon Conversion. In the event the Mortgagor under any Convertible Mortgage Loan elects to convert said Mortgage Loan to a fixed rate mortgage loan, as provided in the related Mortgage Note, then the Company Seller shall repurchase the related Mortgage Loan in the month the conversion takes place and in the manner prescribed in Section 3.04 Subsection 7.03 at the Repurchase Price.
Appears in 3 contracts
Samples: Letter Agreement (MASTR Adjustable Rate Mortgages Trust 2007-3), Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-Oa2), Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2007-1)
