Common use of Substitution and Repurchase Clause in Contracts

Substitution and Repurchase. If the Indenture Trustee does not receive the Mortgage File for any Mortgage Loan as required by Section 2.01(e), that Mortgage Loan shall automatically be retransferred to the Sponsor, subject to the conditions in Section 2.02(b) (as if that Mortgage Loan were otherwise subject to these provisions). If a Transfer Deficiency results, the Sponsor shall substitute an Eligible Substitute Mortgage Loan for the related Mortgage Loan within five Business Days of notification of the Transfer Deficiency by the Indenture Trustee or, if unable to effect this substitution, deposit into the Collection Account the Transfer Deposit Amount in immediately available funds equal to the Transfer Deficiency (or effect a combination of substitution and deposit). This substitution or deposit shall be accomplished in the manner specified in, and have the effect specified in, Section 2.02(b) (as if the related Mortgage Loan were otherwise subject to these provisions).

Substitution and Repurchase. If the Indenture Trustee does not receive the Mortgage File for any Mortgage Loan as required by Section 2.01(e2.01(d), that Mortgage Loan shall automatically be retransferred to the Sponsor, subject to the conditions in Section 2.02(b) (as if that Mortgage Loan were otherwise subject to these provisions). If a Transfer Deficiency results, the Sponsor shall substitute an Eligible Substitute Mortgage Loan for the related Mortgage Loan within five Business Days of notification of the Transfer Deficiency by the Indenture Trustee or, if unable to effect this substitution, deposit into the Collection Account the Transfer Deposit Amount in immediately available funds equal to the Transfer Deficiency (or effect a combination of substitution and deposit). This substitution or deposit shall be accomplished in the manner specified in, and have the effect specified in, Section 2.02(b) (as if the related Mortgage Loan were otherwise subject to these provisions).

Substitution and Repurchase. If the Indenture Trustee does not receive the Mortgage File for any Mortgage Loan as required by Section 2.01(e), that Mortgage Loan shall automatically be retransferred to the Sponsor, subject to the conditions in Section 2.02(b) (as if that Mortgage Loan were otherwise subject to these provisions). If a Transfer Deficiency results, the Sponsor shall substitute an Eligible Substitute Mortgage Loan for the related Mortgage Loan within five [five] Business Days of notification of the Transfer Deficiency by the Indenture Trustee or, if unable to effect this substitution, deposit into the Collection Account the Transfer Deposit Amount in immediately available funds equal to the Transfer Deficiency (or effect a combination of substitution and deposit). This substitution or deposit shall be accomplished in the manner specified in, and have the effect specified in, Section 2.02(b) (as if the related Mortgage Loan were otherwise subject to these provisions).

Substitution and Repurchase. If the Indenture Trustee does not receive the Mortgage File for any Mortgage Loan as required by Section 2.01(e2.01(c), that Mortgage Loan shall automatically be retransferred to the Sponsor, subject to the conditions in Section 2.02(b) (as if that Mortgage Loan were otherwise subject to these provisions). If a Transfer Deficiency results, the Sponsor shall substitute an Eligible Substitute Mortgage Loan for the related Mortgage Loan within five Business Days of notification of the Transfer Deficiency by the Indenture Trustee or, if unable to effect this substitution, deposit into the Collection Account the Transfer Deposit Amount in immediately available funds equal to the Transfer Deficiency (or effect a combination of substitution and deposit). This substitution or deposit shall be accomplished in the manner specified in, and have the effect specified in, Section 2.02(b) (as if the related Mortgage Loan were otherwise subject to these provisions).