Common use of Termination Prior to Maturity Date; and Optional Redemption Clause in Contracts

Termination Prior to Maturity Date; and Optional Redemption. On any Payment Date on which the Aggregate Loan Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, the Servicer acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer fails to exercise such option prior to the Stepup Date, the Interest Rate for each class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafter. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Account, which deposit shall be deemed to have occurred immediately preceding such purchase.

Termination Prior to Maturity Date; and Optional Redemption. On any Payment Date on which the Aggregate Loan Collateral Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Collateral Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, the Servicer acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer fails to exercise such option prior to the Stepup Date, the Interest Rate for each class Class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafter. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Collection Account, which deposit shall be deemed to have occurred immediately preceding such purchase. Promptly following any such purchase pursuant to paragraph (a) of this Section, the Indenture Trustee or the applicable Custodian shall release the Mortgage Files to the purchaser of such Mortgage Loans pursuant to this Section 10.02, or otherwise upon its order.

Termination Prior to Maturity Date; and Optional Redemption. On any Payment Date on which the Aggregate Loan Collateral Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Collateral Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, the Servicer acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Swap 140 Counterparty, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer fails to exercise such option prior to the Stepup Date, the Interest Rate for each class Class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafter. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Collection Account, which deposit shall be deemed to have occurred immediately preceding such purchase. Promptly following any such purchase pursuant to the first paragraph of this Section 9.02, the Indenture Trustee or the applicable Custodian shall release the Mortgage Files to the purchaser of such Mortgage Loans pursuant to this Section 9.02, or otherwise upon its order.

Termination Prior to Maturity Date; and Optional Redemption. On any Payment Date on which the Aggregate Loan Collateral Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Collateral Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, the Servicer Servicer, acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer shall deliver written notice of its intention to exercise such option to the IssuerIssuing Entity, the Swap Counterparty, the Trust Administrator, Administrator and the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer fails to exercise such option prior to the Stepup Date, the Interest Rate for each class Class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafter. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Collection Account, which deposit shall be deemed to have occurred immediately preceding such purchase. Promptly following any such purchase pursuant to the first paragraph of this Section 9.02, the Indenture Trustee or the applicable Custodian shall release the Mortgage Files to the purchaser of such Mortgage Loans pursuant to this Section 9.02, or otherwise upon its order.

Termination Prior to Maturity Date; and Optional Redemption. (a) On any the Payment Date on following the month in which the Aggregate Loan Pool Scheduled Principal Balance at the beginning of the Due Period related to that Payment Date is less than 20% [ - ] of the sum of the Aggregate Loan Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing DateBalance, the Servicer [ - ] acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer Servicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Owner Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer [ - ] shall deliver written notice of its intention to exercise such option to the Issuer, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer [ - ] fails to exercise such option prior to by the Stepup immediately subsequent Payment Date, the Note Interest Rate for each class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafterherein. The Servicer [ - ] shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer [ - ] shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Servicer Remittance Amount for deposit to the Note Collection Account, which deposit shall be deemed to have occurred immediately preceding such purchase.

Termination Prior to Maturity Date; and Optional Redemption. On any Payment Date on which the Aggregate Loan Collateral Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Collateral Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, FSC, in its capacity as the Servicer Servicer, acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer FSC, as Servicer, shall deliver written notice of its intention to exercise such option to the Issuer, the Swap Counterparty, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer FSC fails to exercise such option prior to the Stepup Date, the Interest Rate for each class Class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafter. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. 148 In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Collection Account, which deposit shall be deemed to have occurred immediately preceding such purchase. Promptly following any such purchase pursuant to the first paragraph of this Section 9.02, the Indenture Trustee or the applicable Custodian shall release the Mortgage Files to the purchaser of such Mortgage Loans pursuant to this Section 9.02, or otherwise upon its order.

Termination Prior to Maturity Date; and Optional Redemption. On any Payment Date on which the Aggregate Loan Collateral Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Collateral Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, the Servicer acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer fails to exercise such option prior to the Stepup Date, the Interest Rate for each class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafter. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Collection Account, which deposit shall be deemed to have occurred immediately preceding such purchase.

Termination Prior to Maturity Date; and Optional Redemption. On any Payment Date on which the Aggregate Loan Collateral Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Collateral Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, the Servicer acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer fails to exercise such option prior to the Stepup Date, the Interest Rate for each class Class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafter. The Servicer shall deliver written notice of its intention to exercise such option to the 140 Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Collection Account, which deposit shall be deemed to have occurred immediately preceding such purchase. Promptly following any such purchase pursuant to paragraph (a) of this Section, the Indenture Trustee or the applicable Custodian shall release the Mortgage Files to the purchaser of such Mortgage Loans pursuant to this Section 10.02, or otherwise upon its order.

Termination Prior to Maturity Date; and Optional Redemption. On any Payment Date on which the Aggregate Loan Collateral Balance at the beginning of the Due Period related to that Payment Date is less than 201% of the sum of the Aggregate Loan Collateral Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, the Servicer acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer Servicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer shall deliver written notice of its intention to exercise such option to the IssuerIssuing Entity, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer fails to exercise such option prior to the Stepup Date, the Interest Rate for each class Class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafter. The Servicer shall deliver written notice of its intention to exercise such option to the IssuerIssuing Entity, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Collection Account, which deposit shall be deemed to have occurred immediately preceding such purchase. Promptly following any such purchase pursuant to paragraph (a) of this Section, the Indenture Trustee or the applicable Custodian shall release the Mortgage Files to the purchaser of such Mortgage Loans pursuant to this Section 10.02, or otherwise upon its order.

Termination Prior to Maturity Date; and Optional Redemption. On any Payment Date on which the Aggregate Loan Collateral Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Collateral Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, the Servicer acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer fails to exercise such option prior to the Stepup Date, the Interest Rate for each class Class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafter. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount Interest Funds and Principal Funds for deposit to the Note Collection Account, which deposit shall be deemed to have occurred immediately preceding such purchase. Promptly following any such purchase pursuant to paragraph (a) of this Section, the Indenture Trustee or the applicable Custodian shall release the Mortgage Files to the purchaser of such Mortgage Loans pursuant to this Section 10.02, or otherwise upon its order.

Termination Prior to Maturity Date; and Optional Redemption. On any Payment Date on which the Aggregate Loan Collateral Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Collateral Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, FSC, in its capacity as the Servicer Servicer, acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer FSC, as Servicer, shall deliver written notice of its intention to exercise such option to the Issuer, the Swap Counterparty, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer FSC fails to exercise such option prior to the Stepup Date, the Interest Rate for each class Class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafter. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Collection Account, which deposit shall be deemed to have occurred immediately preceding such purchase.. Promptly following any such purchase pursuant to the first paragraph of this Section 9.02, the Indenture Trustee or the applicable Custodian shall release the Mortgage Files to the purchaser of such Mortgage Loans pursuant to this Section 9.02, or otherwise upon its order. 143

Termination Prior to Maturity Date; and Optional Redemption. (a) On any the Payment Date on following the month in which the Aggregate Loan Pool Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing DateBalance, the Servicer acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer fails to exercise such option prior to by the Stepup immediately subsequent Payment Date, the Interest Rate for each class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafterherein. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Account, which deposit shall be deemed to have occurred immediately preceding such purchase.

Termination Prior to Maturity Date; and Optional Redemption. On any the Payment Date on following the month in which the Aggregate Loan Collateral Balance at the beginning of the Due Period related to that Payment Date is less than 20% of the sum of the Aggregate Loan Balance as of the Initial Cut-off Date and the amount on deposit in the Pre-Funding Account as of the Closing Date, the Servicer acting directly or through one or more Affiliates, shall have the option to purchase the Mortgage Loans, any REO Property and any other property remaining in the Trust for a price equal to the Redemption Price. The Master Servicer, the Servicer and the Subservicer will be reimbursed from the Redemption Price for any outstanding Advances, Servicing Advances and unpaid Servicing Administration Fees and other amounts not previously reimbursed pursuant to the provisions of this Agreement, as applicable, and the Trust Administrator, the Owner Trustee and the Indenture Trustee shall be reimbursed for any previously unreimbursed amounts for which they are entitled to be reimbursed pursuant to this Agreement, the Indenture or the Trust Agreement, as applicable. If such option is exercised, the Trust will be terminated resulting in a mandatory redemption of the Notes. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Trust Administrator, the Indenture Trustee and the Master Servicer not less than 15 days prior to the applicable Payment Date. If the Servicer fails to exercise such option prior to by the Stepup immediately subsequent Payment Date, the Interest Rate for each class of Notes will be increased as set forth in the table in the Preliminary Statement herein beginning on the Stepup Date and for each Payment Date thereafterherein. The Servicer shall deliver written notice of its intention to exercise such option to the Issuer, the Indenture Trustee and the Master Servicer not less than ten days prior to the applicable Payment Date. In connection with such purchase, the Servicer shall remit to the Trust Administrator all amounts then on deposit in the Custodial Account in respect of the related Total Remittance Amount for deposit to the Note Account, which deposit shall be deemed to have occurred immediately preceding such purchase.