Common use of Sale of Certificates Clause in Contracts

Sale of Certificates. At 10:00 a.m. Eastern Standard Time on the Startup Date, at the offices of Xxxxx & Xxxxxx, 0000 X Xxxxxx, X.X., Xxxxxxxxxx, X.X. 00000, the Company will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriter the Class A Certificates 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, (ii) deliver to First Alliance Residual Holding Company a Class R Certificate, with a Percentage Interest equal to 99.99%, and (iii) deliver to the Company a Class R Certificate with a Percentage Interest equal to 0.01%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Company shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to $52,107.71 in the Capitalized Interest Account contributed by the Company out of such proceeds or otherwise, (b) pay any fees and expenses identified by the Company and (c) pay to the Company the balance after deducting such amounts. The Company shall pay directly to the Certificate Insurer the Initial Premiums.

Sale of Certificates. At 10:00 a.m. Eastern Standard Time on the Startup Date, at the offices of Xxxxx & XxxxxxXxxxxx LLP, 0000 X Xxxxxx, X.X., Xxxxxxxxxx, X.X. 00000, the Company will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriter the Class A Certificates 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, and (ii) deliver to First Alliance Residual Holding Company a Class R Certificate, with a Percentage Interest equal to 99.99%, and (iii) deliver to the Company a Class R Certificate with a Percentage Interest equal to 0.01100%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Company shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to $52,107.71 78,928.95 in the Capitalized Interest Account contributed by the Company out of such proceeds or otherwise, (b) pay any fees and expenses identified by the Company and (c) pay to the Company the balance after deducting such amounts. The Company shall pay directly to the Certificate Insurer the Initial Premiums.

Sale of Certificates. At 10:00 a.m. Eastern Standard Time on the Startup DateDay, at the offices of Xxxxx & XxxxxxXxxxxx LLP, 0000 X Xxxxxx, X.X., Xxxxxxxxxx, X.X. 00000, the Company 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) deliver to the Underwriter the Class A Certificates 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, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, and (ii) deliver to First Alliance Residual Holding Company Portfolio Services, Inc. a Class R Certificate, with a Percentage Interest equal to 99.99%, and (iii) deliver to the Company a Class R Certificate with a Percentage Interest equal to 0.01100%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Company Seller shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to $52,107.71 the sum of the Group I Original Capitalized Interest Amount and the Group II Original Capitalized Interest Amount in the Capitalized Interest Account contributed by the Company Seller out of such proceeds or otherwise, (botherwise,(b) pay any fees and expenses identified by the Company Seller and (c) pay to the Company Seller the balance after deducting such amounts. The Company Seller shall pay directly to the Certificate Insurer the Initial PremiumsPremium.

Sale of Certificates. At 10:00 a.m. Eastern Standard Time on the Startup Date, at the offices of Xxxxx & Xxxxxx, 0000 X Xxxxxx, X.X., Xxxxxxxxxx, X.X. 00000, the Company will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriter the Class A Certificates 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, (ii) deliver to First Alliance Residual Holding Company a Class R Certificate, with a Percentage Interest equal to 99.99%, and (iii) deliver to the Company a Class R Certificate with a Percentage Interest equal to 0.01%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Company shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to $52,107.71 90,806.61 in the Capitalized Interest Account contributed by the Company out of such proceeds or otherwise, (b) pay any fees and expenses identified by the Company and (c) pay to the Company the balance after deducting such amounts. The Company shall pay directly to the Certificate Insurer the Initial Premiums.

Sale of Certificates. At 10:00 a.m. Eastern Standard Time on the Startup Date, at the offices of Xxxxx & Xxxxxx, 0000 X Xxxxxx, X.X., Xxxxxxxxxx, X.X. 00000, the Company will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriter the Class A Certificates 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, (ii) deliver to First Alliance Residual Holding Company a Class R Certificate, with a Percentage Interest equal to 99.99%, and (iii) deliver to the Company a Class R Certificate with a Percentage Interest equal to 0.01%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Company shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to $52,107.71 51,855.57 in the Capitalized Interest Account contributed by the Company out of such proceeds or otherwise, (b) pay any fees and expenses identified by the Company and (c) pay to the Company the balance after deducting such amounts. The Company shall pay directly to the Certificate Insurer the Initial Premiums.

Sale of Certificates. At 10:00 a.m. Eastern Standard Time on the Startup DateDay, at the offices of Xxxxx & XxxxxxXxxxxx LLP, 0000 X Xxxxxx, X.X., Xxxxxxxxxx, X.X. 00000, the Company 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) deliver to the Underwriter the Class A Certificates 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, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, and (ii) deliver to First Alliance Residual Holding Company Portfolio Services, Inc. a Class R Certificate, with a Percentage Interest equal to 99.99%, and (iii) deliver to the Company a Class R Certificate with a Percentage Interest equal to 0.01100%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Company Seller shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to $52,107.71 the sum of the Group I Original Capitalized Interest Amount and the Group II Original Capitalized Interest Amount in the Capitalized Interest Account contributed by the Company Seller out of such proceeds or otherwise, (botherwise,(b) pay any fees and 203968.5d expenses identified by the Company Seller and (c) pay to the Company Seller the balance after deducting such amounts. The Company Seller shall pay directly to the Certificate Insurer the Initial PremiumsPremium.

Sale of Certificates. At 10:00 a.m. Eastern Standard Time New York City time on the Startup Date, at the offices of Xxxxx & Xxxxxx, 0000 X Xxxxxx, X.X., Xxxxxxxxxx, X.X. 000001301 Avenue of the Americas, New York, New York, the Company will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriter the Class A Certificates 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, (ii) deliver to First Alliance Residual Holding Company a Class R Certificate, with a Percentage Interest equal to 99.99%, and (iii) deliver to the Company a Class R Certificate with a Percentage Interest equal to 0.01%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Company shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to $52,107.71 50,509.67 in the Capitalized Interest Account contributed by the Company out of such proceeds or otherwise, (b) pay any fees and expenses identified by the Company and (c) pay to the Company the balance after deducting such amounts. The Company shall pay directly to the Certificate Insurer the Initial Premiums.