Common use of Servicer’s Purchase Option Clause in Contracts

Servicer’s Purchase Option. a. The Servicer shall, subject to subsection (b) hereof, have the option to purchase all of the Contracts and all property acquired in respect of any Contract remaining in the Trust at a price equal to the greatest of: A. the sum of (x) 100% of the principal balance of each Contract (other than any Contract as to which title to the underlying property has been acquired and whose fair market value is included pursuant to clause (y) below), together with accrued and unpaid interest on each such Contract at the Weighted Average Pass-Through Rate, plus (y) the fair market value of such acquired property (as reasonably determined by the Servicer as of the close of business on the third Business Day preceding the date of such purchase), B. the aggregate fair market value (as reasonably determined by the Servicer as of the close of business on such third Business Day) of all of the assets of the Trust, and C. the Aggregate Certificate Principal Balance as of the date of such purchase (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of principal in respect of the Contracts) plus an amount necessary to pay the Class HI: A Formula Interest Distribution Amount, the Class HI: M-1 Formula Interest Distribution Amount, the Class HI: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: M-2 Formula Interest Distribution Amount, the Class HI: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-1 Formula Interest Distribution Amount, the Class HI: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-2 Formula Interest Distribution Amount, the Class HI: B-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: A Formula Interest Distribution Amount, the Class HE: M-1 Formula Interest Distribution Amount, the Class HE: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: M-2 Formula Interest Distribution Amount, the Class HE: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-1 Formula Interest Distribution Amount, the Class HE: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-2 Formula Interest Distribution Amount and the Class HE: B-2 Formula Liquidation Loss Interest Distribution Amount due on the Payment Date occurring in the calendar month following such purchase date (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of interest in respect of the Contracts at the Weighted Average Pass-Through Rate). b. The purchase by the Servicer of all of the Contracts pursuant to this Section 8.06 shall be conditioned upon (1) the Pool Scheduled Principal Balance of all Contracts, at the time of any such purchase, aggregating less than 10% of the Cut-off Date Pool Principal Balance of all Contracts, (2) such purchase constituting a plan of complete liquidation in accordance with Section 860F of the Code, and (3) the Servicer having provided the Trustee and the Depository (if any) with at least 30 days' written notice. If such option is exercised, the Servicer shall provide to the Trustee (at the Servicer's expense) the certification required by Section 12.04, which certificate shall constitute a plan of complete liquidation within the meaning of Section 860F of the Code, and the Trustee shall promptly sign such certification and release to the Servicer the Contract Files pertaining to the Contracts being purchased.

Servicer’s Purchase Option. a. The Servicer shall, subject to subsection (b) hereof, have the option to purchase all of the Contracts Loans and all property acquired in respect of any Contract Loan remaining in the Trust at a price equal to the greatest of: A. the sum of (x) 100% of the principal balance of each Contract Loan (other than any Contract Loan as to which title to the underlying property has been acquired and whose fair market value is included pursuant to clause (y) below), together with accrued and unpaid interest on each such Contract Loan at the Weighted Average Pass-Through Rate, plus (y) the fair market value of such acquired property (as reasonably determined by the Servicer as of the close of business on the third Business Day preceding the date of such purchase), B. the aggregate fair market value (as reasonably determined by the Servicer as of the close of business on such third Business Day) of all of the assets of the Trust, and C. the Aggregate Certificate Principal Balance as of the date of such purchase (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of principal in respect of the ContractsLoans) plus an amount necessary to pay the Class HI: A Formula Interest Distribution Amount, the Class HI: M-1 Formula Interest Distribution Amount, the Class HI: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: M-2 Formula Interest Distribution Amount, the Class HI: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-1 Formula Interest Distribution Amount, the Class HI: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-2 Formula Interest Distribution Amount, the Class HI: B-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: A Formula Interest Distribution Amount, the Class HE: M-1 Formula Interest Distribution Amount, the Class HE: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: M-2 Formula Interest Distribution Amount, the Class HE: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-1 Formula Interest Distribution Amount, the Class HE: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-2 Formula Interest Distribution Amount and the Class HE: B-2 B- 2 Formula Liquidation Loss Interest Distribution Amount due on the Payment Date occurring in the calendar month following such purchase date (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of interest in respect of the Contracts Loans at the Weighted Average Pass-Through Rate). b. The purchase by the Servicer of all of the Contracts Loans pursuant to this Section 8.06 shall be conditioned upon (1) the Pool Scheduled Principal Balance of all ContractsLoans, at the time of any such purchase, aggregating less than 10% of the Cut-off Date Pool Principal Balance of all ContractsLoans, (2) such purchase constituting a plan of complete liquidation in accordance with Section 860F of the Code, and (3) the Servicer having provided the Trustee and the Depository (if any) with at least 30 days' written notice. If such option is exercised, the Servicer shall provide to the Trustee (at the Servicer's expense) the certification required by Section 12.04, which certificate shall constitute a plan of complete liquidation within the meaning of Section 860F of the Code, and the Trustee shall promptly sign such certification and release to the Servicer the Contract Loan Files pertaining to the Contracts Loans being purchased.

Servicer’s Purchase Option. a. The Servicer shall, subject to subsection (b) hereof, have the option to purchase all of the Contracts and all property acquired in respect of any Contract remaining in the Trust at a price equal to the greatest of: A. (i) the sum of (x) 100% of the principal balance of each Contract (other than any Contract as to which title to the underlying property has been acquired and whose fair market value is included pursuant to clause (y) below), together with accrued and unpaid interest on each such Contract at the Weighted Average Pass-Through Rate, plus (y) the fair market value of such acquired property (as reasonably determined by the Servicer as of the close of business on the third Business Day preceding the date of such purchase), B. (ii) the aggregate fair market value (as reasonably determined by the Servicer as of the close of business on such third Business Day) of all of the assets of the Trust, and C. (iii) the Aggregate Certificate Principal Balance as of the date of such purchase (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of principal in respect of the Contracts) plus an amount necessary to pay the Class HI: A Formula Interest Distribution Amount, the Class HI: M-1 Formula Interest Distribution Amount, the Class HI: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: M-2 Formula Interest Distribution Amount, the Class HI: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-1 Formula Interest Distribution Amount, the Class HI: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-2 Formula Interest Distribution Amount, the Class HI: B-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: A Formula Interest Distribution Amount, the Class HE: M-1 Formula Interest Distribution Amount, the Class HE: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: M-2 Formula Interest Distribution Amount, the Class HE: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-1 Formula Interest Distribution Amount, the Class HE: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-2 Formula Interest Distribution Amount and the Class HE: B-2 Formula Liquidation Loss Interest Distribution Amount due on the Payment Date occurring in the calendar month following such purchase date (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of interest in respect of the Contracts at the Weighted Average Pass-Through Rate). b. The purchase by the Servicer of all of the Contracts pursuant to this Section 8.06 shall be conditioned upon (1) the Pool Scheduled Principal Balance of all Contracts, at the time of any such purchase, aggregating less than 10% of the Cut-off Date Pool Principal Balance of all Contracts, (2) such purchase constituting a plan of complete liquidation in accordance with Section 860F of the Code, and (3) the Servicer having provided the Trustee and the Depository (if any) with at least 30 days' written notice. If such option is exercised, the Servicer shall provide to the Trustee (at the Servicer's expense) the certification required by Section 12.04, which certificate shall constitute a plan of complete liquidation within the meaning of Section 860F of the Code, and the Trustee shall promptly sign such certification and release to the Servicer the Contract Files pertaining to the Contracts being purchased.

Servicer’s Purchase Option. a. The Servicer shall, subject to subsection (b) hereof, have the option to purchase all of the Contracts and all property acquired in respect of any Contract remaining in the Trust at a price equal to the greatest of: A. the sum of (x) 100% of the principal balance of each Contract (other than any Contract as to which title to the underlying property has been acquired and whose fair market value is included pursuant to clause (y) below), together with accrued and unpaid interest on each such Contract at the Weighted Average Pass-Through Rate, plus (y) the fair market value of such acquired property (as reasonably determined by the Servicer as of the close of business on the third Business Day preceding the date of such purchase), B. the aggregate fair market value (as reasonably determined by the Servicer as of the close of business on such third Business Day) of all of the assets of the Trust, and C. the Aggregate Certificate Principal Balance as of the date of such purchase (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of principal in respect of the Contracts) plus an amount necessary to pay the Class HI: A Formula Interest Distribution Amount, the Class HI: M-1 Formula Interest Distribution Amount, the Class HI: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: M-2 Formula Interest Distribution Amount, the Class HI: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-1 Formula Interest Distribution Amount, the Class HI: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-2 Formula Interest Distribution Amount, the Class HI: B-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: A Formula Interest Distribution Amount, the Class HE: M-1 Formula Interest Distribution Amount, the Class HE: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: M-2 Formula Interest Distribution Amount, the Class HE: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-1 Formula Interest Distribution Amount, the Class HE: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-2 Formula Interest Distribution Amount and the Class HE: B-2 Formula Liquidation Loss Interest Distribution Amount due on the Payment Date occurring in the calendar month following such purchase date (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of interest in respect of the Contracts at the Weighted Average Pass-Through Rate). b. The purchase by the Servicer of all of the Contracts pursuant to this Section 8.06 shall be conditioned upon (1) the Pool Scheduled Principal Balance of all ContractsBalance, at the time of any such purchase, aggregating less than 10% of the Cut-off Date Pool Principal Balance of all ContractsBalance, (2) such purchase constituting a plan of complete liquidation in accordance with Section 860F of the Code, and (3) the Servicer having provided the Trustee and the Depository (if any) with at least 30 days' written notice. If such option is exercised, the Servicer shall provide to the Trustee (at the Servicer's expense) the certification required by Section 12.04, which certificate shall constitute a plan of complete liquidation within the meaning of Section 860F of the Code, and the Trustee shall promptly sign such certification and release to the Servicer the Contract Files pertaining to the Contracts being purchased.

Servicer’s Purchase Option. a. The Servicer shall, subject to subsection (b) hereof, have the option to purchase all of the Contracts and all property acquired in respect of any Contract remaining in the Trust at a price equal to the greatest of: A. the sum of (x) 100% of the principal balance of each Contract (other than any Contract as to which title to the underlying property has been acquired and whose fair market value is included pursuant to clause (y) below), together with accrued and unpaid interest on each such Contract at the Weighted Average Pass-Through Rate, plus (y) the fair market value of such acquired property (as reasonably determined by the Servicer as of the close of business on the third Business Day preceding the date of such purchase), B. the aggregate fair market value (as reasonably determined by the Servicer as of the close of business on such third Business Day) of all of the assets of the Trust, and C. the Aggregate Certificate Principal Balance as of the date of such purchase (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of principal in respect of the Contracts) plus an amount necessary to pay the Class HI: A Formula Interest Distribution Amount, the Class HI: M-1 Formula Interest Distribution Amount, the Class HI: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: M-2 Formula Interest Distribution Amount, the Class HI: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-1 Formula Interest Distribution Amount, the Class HI: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-2 Formula Interest Distribution Amount, the Class HI: B-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: A Formula Interest Distribution Amount, the Class HE: M-1 Formula Interest Distribution Amount, the Class HE: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: M-2 Formula Interest Distribution Amount, the Class HE: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-1 Formula Interest Distribution Amount, the Class HE: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-2 Formula Interest Distribution Amount and the Class HE: B-2 Formula Liquidation Loss Interest Distribution Amount due on the Payment Date occurring in the calendar month following such purchase date (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of interest in respect of the Contracts at the Weighted Average Pass-Through Rate)) . b. The purchase by the Servicer of all of the Contracts pursuant to this Section 8.06 shall be conditioned upon (1) the Pool Scheduled Principal Balance of all Contracts, at the time of any such purchase, aggregating less than 10% of the Cut-off Date Pool Principal Balance of all Contracts, (2) such purchase constituting a plan of complete liquidation in accordance with Section 860F of the Code, and (3) the Servicer having provided the Trustee and the Depository (if any) with at least 30 days' written notice. If such option is exercised, the Servicer shall provide to the Trustee (at the Servicer's expense) the certification required by Section 12.04, which certificate shall constitute a plan of complete liquidation within the meaning of Section 860F of the Code, and the Trustee shall promptly sign such certification and release to the Servicer the Contract Files pertaining to the Contracts being purchased.

Servicer’s Purchase Option. a. The Servicer shall, subject to subsection (b) hereof, have the option to purchase all of the Contracts and all property acquired in respect of any Contract remaining in the Trust at a price equal to the greatest of: A. (i) the sum of (x) 100% of the principal balance of each Contract (other than any Contract as to which title to the underlying property has been acquired and whose fair market value is included pursuant to clause (y) below), together with accrued and unpaid interest on each such Contract at the Weighted Average Pass-Through Rate, plus (y) the fair market value of such acquired property (as reasonably determined by the Servicer as of the close of business on the third Business Day preceding the date of such purchase), B. (ii) the aggregate fair market value (as reasonably determined by the Servicer as of the close of business on such third Business Day) of all of the assets of the Trust, and C. (iii) the Aggregate Certificate Principal Balance as of the date of such purchase (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of principal in respect of the Contracts) plus an amount necessary to pay the Class HI: A Formula Interest Distribution Amount, the Class HI: M-1 Formula Interest Distribution Amount, the Class HI: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: M-2 Formula Interest Distribution Amount, the Class HI: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-1 Formula Interest Distribution Amount, the Class HI: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-2 Formula Interest Distribution Amount, the Class HIHE: B-2 A Formula Liquidation Loss Interest Distribution Amount, the Class HE: A A-1B ARM Formula Available Funds Limitation Interest Distribution Amount, the Class HE: M-1 Formula Interest Distribution Amount, the Class HE: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: M-2 Formula Interest Distribution Amount, the Class HE: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-1 B Formula Interest Distribution Amount, the Class HE: B-1 B Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-2 Formula Interest Distribution Amount and the Class HE: B-2 B Formula Liquidation Loss Interest Distribution Amount due on the Payment Date occurring in the calendar month following such purchase date (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of interest in respect of the Contracts at the Weighted Average Pass-Pass- Through Rate). b. The purchase by the Servicer of all of the Contracts pursuant to this Section 8.06 shall be conditioned upon (1) the Pool Scheduled Principal Balance of all Contracts, at the time of any such purchase, aggregating less than 10% of the Cut-off Date Pool Principal Balance of all Contracts, (2) such purchase constituting a plan of complete liquidation in accordance with Section 860F of the Code, and (3) the Servicer having provided the Trustee and the Depository (if any) with at least 30 days' written notice. If such option is exercised, the Servicer shall provide to the Trustee (at the Servicer's expense) the certification required by Section 12.04, which certificate shall constitute a plan of complete liquidation within the meaning of Section 860F of the Code, and the Trustee shall promptly sign such certification and release to the Servicer the Contract Files pertaining to the Contracts being purchased.,

Servicer’s Purchase Option. a. The Servicer shall, subject to subsection (b) hereof, have the option to purchase all of the Contracts Loans and all property acquired in respect of any Contract Loan remaining in the Trust at a price equal to the greatest of: A. (i) the sum of (x) 100% of the principal balance of each Contract Loan (other than any Contract Loan as to which title to the underlying property has been acquired and whose fair market value is included pursuant to clause (y) below), together with accrued and unpaid interest on each such Contract Loan at a rate per annum equal to the Weighted Average Pass-Through Rate, plus (y) the fair market value of such acquired property (as reasonably determined by the Servicer as of the close of business on the third Business Day preceding the date of such purchase), B. (ii) the aggregate fair market value (as reasonably determined by the Servicer as of the close of business on such third Business Day) of all of the assets of the Trust, and C. (iii) the Aggregate Certificate Principal Balance as of the date of such purchase (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of principal in respect of the ContractsLoans) plus an amount necessary to pay the Class HI: A Formula Interest Distribution Amount, the Class HI: M-1 Formula Interest Distribution Amount, the Class HI: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: M-2 Formula Interest Distribution Amount, the Class HI: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-1 Formula Interest Distribution Amount, the Class HI: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-2 Formula Interest Distribution Amount, the Class HI: B-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: A Formula Interest Distribution Amount, the Class HE: M-1 Formula Interest Distribution Amount, the Class HE: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: M-2 Formula Interest Distribution Amount, the Class HE: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-1 Formula Interest Distribution Amount, the Class HE: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-2 Formula Interest Distribution Amount and the Class HE: B-2 Formula Liquidation Loss Interest Distribution Amount due on the Payment Date occurring in the calendar month following such purchase date (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of interest in respect of the Contracts Loans at a rate per annum equal to the Weighted Average Pass-Through Rate). b. The purchase by the Servicer of all of the Contracts Loans pursuant to this Section 8.06 shall be conditioned upon (1) the Pool Scheduled Principal Balance of all ContractsLoans, at the time of any such purchase, aggregating less than 10% of the Cut-off Date Pool Original Aggregate Certificate Principal Balance of all ContractsBalance, (2) such purchase constituting a plan of complete liquidation in accordance with Section 860F of the Code, and (3) the Servicer having provided the Trustee and the Depository (if any) with at least 30 days' written notice. If such option is exercised, the Servicer shall provide to the Trustee (at the Servicer's expense) the certification required by Section 12.04, which certificate shall constitute a plan of complete liquidation within the meaning of Section 860F of the Code, and the Trustee shall promptly sign such certification and release to the Servicer the Contract Loan Files pertaining to the Contracts Loans being purchased.

Servicer’s Purchase Option. a. The Servicer shall, subject to subsection (b) hereof, have the option to purchase all of the Contracts and all property acquired in respect of any Contract remaining in the Trust at a price equal to the greatest of: A. the sum of (x) 100% of the principal balance of each Contract (other than any Contract as to which title to the underlying property has been acquired and whose fair market value is included pursuant to clause (y) below), together with accrued and unpaid interest on each such Contract at the Weighted Average Pass-Through Rate, plus (y) the fair market value of such acquired property (as reasonably determined by the Servicer as of the close of business on the third Business Day preceding the date of such purchase), B. the aggregate fair market value (as reasonably determined by the Servicer as of the close of business on such third Business Day) of all of the assets of the Trust, and C. the Aggregate Certificate Principal Balance as of the date of such purchase (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of principal in respect of the Contracts) plus an amount necessary to pay the Class HI: A Formula Interest Distribution Amount, the Class HI: M-1 Formula Interest Distribution Amount, the Class HI: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: M-2 Formula Interest Distribution Amount, the Class HI: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-1 Formula Interest Distribution Amount, the Class HI: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-2 Formula Interest Distribution Amount, the Class HI: B-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: A Formula Interest Distribution Amount, the Class HE: M-1 Formula Interest Distribution Amount, the Class HE: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: M-2 Formula Interest Distribution Amount, the Class HE: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-1 Formula Interest Distribution Amount, the Class HE: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-2 Formula Interest Distribution Amount and the Class HE: B-2 Formula Liquidation Loss Interest Distribution Amount due on the Payment Date occurring in the calendar month following such purchase date (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of interest in respect of the Contracts at the Weighted Average Pass-Through Rate). b. The purchase by the Servicer of all of the Contracts pursuant to this Section 8.06 shall be conditioned upon (1) the Pool Scheduled Principal Balance of all Contracts, at the time of any such purchase, aggregating less than 10% of the Cut-off Date Pool Principal Balance of all Contracts, (2) such purchase constituting a plan of complete liquidation in accordance with Section 860F of the Code, and (3) the Servicer having provided the Trustee and the Depository (if any) with at least 30 days' written notice. If such option is exercised, the Servicer shall provide to the Trustee (at the Servicer's expense) the certification required by Section 12.04, which certificate shall constitute a plan of complete liquidation within the meaning of Section 860F of the Code, and the Trustee shall promptly sign such certification and release to the Servicer the Contract Files pertaining to the Contracts being purchased.the

Servicer’s Purchase Option. a. The Servicer shall, subject to subsection (b) hereof, have the option to purchase all of the Contracts and all property acquired in respect of any Contract remaining in the Trust at a price equal to the greatest of: A. (i) the sum of (x) 100% of the principal balance of each Contract (other than any Contract as to which title to the underlying property has been acquired and whose fair market value is included pursuant to clause (y) below), together with accrued and unpaid interest on each such Contract at the Weighted Average Pass-Through Rate, plus (y) the fair market value of such acquired property (as reasonably determined by the Servicer as of the close of business on the third Business Day preceding the date of such purchase), B. (ii) the aggregate fair market value (as reasonably determined by the Servicer as of the close of business on such third Business Day) of all of the assets of the Trust, and C. (iii) the Aggregate Certificate Principal Balance as of the date of such purchase (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of principal in respect of the Contracts) plus an amount necessary to pay the Class HI: A Formula Interest Distribution Amount, the Class HI: M-1 Formula Interest Distribution Amount, the Class HI: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: M-2 Formula Interest Distribution Amount, the Class HI: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-1 Formula Interest Distribution Amount, the Class HI: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-2 Formula Interest Distribution Amount, the Class HIHE: B-2 A Formula Liquidation Loss Interest Distribution Amount, the Class HE: A A-1B ARM Formula Available Funds Limitation Interest Distribution Amount, the Class HE: M-1 Formula Interest Distribution Amount, the Class HE: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: M-2 Formula Interest Distribution Amount, the Class HE: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-1 Formula Interest Distribution Amount, the Class HE: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-2 Formula Interest Distribution Amount and the Class HE: B-2 Formula Liquidation Loss Interest Distribution Amount due on the Payment Date occurring in the calendar month following such purchase date (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of interest in respect of the Contracts at the Weighted Average Pass-Through Rate). b. The purchase by the Servicer of all of the Contracts pursuant to this Section 8.06 shall be conditioned upon (1) the Pool Scheduled Principal Balance of all Contracts, at the time of any such purchase, aggregating less than 10% of the Cut-off Date Pool Principal Balance of all Contracts, (2) such purchase constituting a plan of complete liquidation in accordance with Section 860F of the Code, and (3) the Servicer having provided the Trustee and the Depository (if any) with at least 30 days' written notice. If such option is exercised, the Servicer shall provide to the Trustee (at the Servicer's expense) the certification required by Section 12.04, which certificate shall constitute a plan of complete liquidation within the meaning of Section 860F of the Code, and the Trustee shall promptly sign such certification and release to the Servicer the Contract Files pertaining to the Contracts being purchased.

Servicer’s Purchase Option. a. The Servicer shall, subject to subsection (b) hereof, have the option to purchase all of the Contracts Loans and all property acquired in respect of any Contract Loan remaining in the Trust at a price equal to the greatest of: A. (i) the sum of (x) 100% of the principal balance of each Contract Loan (other than any Contract Loan as to which title to the underlying property has been acquired and whose fair market value is included pursuant to clause (y) below), together with accrued and unpaid interest on each such Contract Loan at a rate per annum equal to the Weighted Average Pass-Through Rate, plus (y) the fair market value of such acquired property (as reasonably determined by the Servicer as of the close of business on the third Business Day preceding the date of such purchase), B. (ii) the aggregate fair market value (as reasonably determined by the Servicer as of the close of business on such third Business Day) of all of the assets of the Trust, and C. (iii) the Aggregate Certificate Principal Balance as of the date of such purchase (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of principal in respect of the ContractsLoans) plus an amount necessary to pay the Class HI: A Formula Interest Distribution Amount, the Class HI: A-1A ARM Formula Available Funds Cap Carryover Distribution Amount, the Class A-1B ARM Formula Available Funds Cap Carryover Distribution Amount, the Class M-1 Formula Interest Distribution Amount, the Class HI: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: M-2 Formula Interest Distribution Amount, the Class HI: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-1 Formula Interest Distribution Amount, the Class HI: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HI: B-2 Formula Interest Distribution Amount, the Class HI: B-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: A Formula Interest Distribution Amount, the Class HE: M-1 Formula Interest Distribution Amount, the Class HE: M-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: M-2 Formula Interest Distribution Amount, the Class HE: M-2 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-1 Formula Interest Distribution Amount, the Class HE: B-1 Formula Liquidation Loss Interest Distribution Amount, the Class HE: B-2 Formula Interest Distribution Amount and the Class HE: B-2 Formula Liquidation Loss Interest Distribution Amount due on the Payment Date occurring in the calendar month following such purchase date (less any amounts on deposit in the Certificate Account on such purchase date and representing payments of interest in respect of the Contracts Loans at a rate per annum equal to the Weighted Average Pass-Through Rate). b. The purchase by the Servicer of all of the Contracts Loans pursuant to this Section 8.06 shall be conditioned upon (1) the Pool Scheduled Principal Balance of all ContractsLoans, at the time of any such purchase, aggregating less than 10% of the Cut-off Date Pool Original Aggregate Certificate Principal Balance of all ContractsBalance, (2) such purchase constituting a plan of complete liquidation in accordance with Section 860F of the Code, and (3) the Servicer having provided the Trustee and the Depository (if any) with at least 30 days' written notice. If such option is exercised, the Servicer shall provide to the Trustee (at the Servicer's expense) the certification required by Section 12.04, which certificate shall constitute a plan of complete liquidation within the meaning of Section 860F of the Code, and the Trustee shall promptly sign such certification and release to the Servicer the Contract Loan Files pertaining to the Contracts Loans being purchased.