Review of Mortgage Loans. From the Closing Date until 60 days after the Closing Date, the Purchaser shall have the right to review each Mortgage File, to conduct property inspections, obtain appraisal recertifications and otherwise to underwrite the Mortgage Loans and to reject any Mortgage Loan which in the Purchaser's sole opinion is an unacceptable investment. In the event that the Purchaser so rejects any Mortgage Loan, the Seller shall, no later than the 60th day following the Closing Date, repurchase the rejected Mortgage Loan in the manner prescribed in Section 7.04 at the Repurchase Price. Any rejected Mortgage Loan shall be removed from the terms of this Agreement.
Appears in 8 contracts
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A1), Master Mortgage Loan Purchase and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Af1), Master Mortgage Loan Purchase and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-A1)
