Common use of Sale of Certificates Clause in Contracts

Sale of Certificates. At 11 a.m. New York City time on the Startup Date, at the offices of Dewex Xxxxxxxxxx, 0001 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, xxe 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) deliver to the Representative, the Offered 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 Representative shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee and (ii) deliver to the Sponsor, the Class R Certificates, with an aggregate Percentage Interest equal to 100%, registered as the Sponsor shall request. Upon receipt of the proceeds of the sale of the Certificates, the Trustee shall, from the proceeds of the sale of the Certificates, pay other fees and expenses identified by the Sponsor, and pay to the Sponsor the balance after deducting such amounts.

Sale of Certificates. At 11 a.m. New York City time on the Startup Closing Date, at the offices of Dewex Xxxxx Xxxxxxxxxx, 0001 0000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, xxe the 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) deliver to the Representative, the Offered 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 Representative shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee and (ii) deliver to the Sponsor, the Class R RS Certificates, with an aggregate Percentage Interest in each Class equal to 100%, registered as the Sponsor shall request. Upon receipt of the proceeds of the sale of the Certificates, the Trustee shall, from the proceeds of the sale of the Certificates, pay other fees and expenses identified by the Sponsor, Sponsor and 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 a.m. New York City time on the Startup Date, at the offices of Dewex Xxxxx Xxxxxxxxxx, 0001 0000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, xxe the 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) deliver to the RepresentativeUnderwriter, the Offered 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 Representative Underwriter shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee and (ii) deliver to the Sponsor, the Class R Certificates, with an aggregate Percentage Interest equal to 100%, registered as the Sponsor shall request. Upon receipt of the proceeds of the sale of the Certificates, the Trustee shall, from the proceeds of the sale of the Certificates, pay other fees and expenses identified by the Sponsor, and (b) pay to the Sponsor the balance after deducting such amounts.