Common use of Sale of Certificates Clause in Contracts

Sale of Certificates. At 11 a.m. New York City time on the Startup Day, at the offices of Xxxxx Xxxxxxxxxx, 0000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, the Seller will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) hold the Class A Certificates as transfer agent for the Depository, with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters shall direct against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee for disbursement to the Seller and (ii) deliver to the Seller, the Class B Certificates and the Residual Certificates, with an aggregate Percentage Interest equal to 100%, registered as the Seller shall request. Upon receipt of the proceeds of the sale of the Certificates, the Seller shall (a) pay the initial premiums due to the Certificate Insurer and (b) pay other fees and expenses identified by the Seller.

Sale of Certificates. At 11 a.m. New York City time on the Startup Day, at the offices of Xxxxx Xxxxxxxxxx, 0000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx__________, the Seller Company will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Depositor, and the Depositor will sell and convey such property to the Trustee, and the Trustee will (i) hold the Class A Certificates as transfer agent for the Depository, with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters shall direct against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee for disbursement to the Seller Depositor and (ii) deliver to the SellerDepositor, the Class B Certificates and the Residual Certificates, with an aggregate Percentage Interest equal to 100%, registered as the Seller Depositor shall request. Upon receipt of the proceeds of the sale of the Certificates, the Seller Depositor shall (a) pay the initial premiums due to the Certificate Insurer and (b) pay other fees and expenses identified by the SellerDepositor.

Sale of Certificates. At 11 a.m. New York City time on the Startup DayDate, at the offices of Xxxxx Xxxxxxxxxx, 0000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, the Seller Sponsor will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) hold deliver to the Underwriter, the Class A Certificates as transfer agent for the Depository, with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters Underwriter shall direct direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee for disbursement to the Seller and (ii) deliver to the SellerSponsor, the Class B Certificates and the Residual RS Certificates, with an aggregate Percentage Interest in each Class equal to 100%, registered as the Seller Sponsor shall request. Upon receipt of the proceeds of the sale of the Certificates, the Seller shall (a) pay Trustee shall, from the initial premiums due to proceeds of the Certificate Insurer and (b) sale of the Certificates, pay other fees and expenses identified by the SellerSponsor, and (b) pay to the Sponsor the balance after deducting such amounts. The Sponsor shall pay directly to the Certificate Insurer the Initial Premiums.

Sale of Certificates. At 11 11:00 a.m. New York City time on the Startup DayDate, at the offices of Xxxxx Xxxxxxxxxx, 0000 Xxxxx Xxxxxx1301 Avenue of the Americas, Xxx XxxxNew York, Xxx XxxxNew York, the Seller Sponsor will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) hold deliver to the Underwriter, the Class A Certificates as transfer agent for the Depository, with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters Underwriter shall direct direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee for disbursement to the Seller and (ii) deliver to the SellerSponsor, the Class B Certificates and the Residual Certificates, with an aggregate Percentage Interest equal to 100%, registered as the Seller Sponsor shall request. Upon receipt of the proceeds of the sale of the Certificates, the Seller Trustee shall, from the proceeds of the sale of the Certificates, pay such fees and expenses as are identified by the Sponsor, and pay to the Sponsor the balance after deducting such amounts. The Sponsor shall (a) pay the initial premiums due directly to the Certificate Insurer and (b) pay other fees and expenses identified by the SellerInitial Premium.