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

Termination Prior to Maturity Date; and Optional Redemption. (a) On any Payment Date occurring on or after the Initial Optional Purchase Date, the Master Servicer, acting directly or through one or more Affiliates, with the prior written consent of LBH (which consent shall not unreasonably be withheld), may purchase from the Issuer all (but not fewer than all) of the Mortgage Loans and all other property of the Issuer at a cash price equal to the sum of (w) the greater of (i) the unpaid principal balance of each Mortgage Loan immediately prior to the date of purchase and (ii) the fair market value of such Mortgage Loans (disregarding accrued interest), (x) any accrued and unpaid interest on the Mortgage Loans from the date as to which interest was last paid to (but not including) the Due Date in the Due Period immediately preceding the related Payment Date, calculated at the Mortgage Rate thereon, (y) any unreimbursed Servicing Advances with respect to such Mortgage Loan and (z) the fair market value of all other property of the Trust. The Master 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 Master Servicer shall remit to the Indenture Trustee all amounts then on deposit in the Collection Account in respect of the related Total Payment 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. (a) On any Payment Date occurring on or after the Initial Optional Purchase Date, the Master Servicer, acting directly or through one or more Affiliates, with the prior written consent of LBH (which consent shall not unreasonably be withheld), may purchase from the Issuer all (but not fewer than all) of the Mortgage Loans and all other property of the Issuer at a cash price equal to the sum of (w) the greater of (i) the unpaid principal balance of each Mortgage Loan immediately prior to the date of purchase and (ii) the fair market value of such Mortgage Loans (disregarding accrued interest), (x) any accrued and unpaid interest on the Mortgage Loans from the date as to which interest was last paid to (but not including) the Due Date in the Due Period immediately preceding the related Payment Distribution Date, calculated at the Mortgage Rate thereon, (y) any unreimbursed Servicing Advances with respect to such Mortgage Loan and (z) the fair market value of all other property of the Trust. The Master 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 Master Servicer shall remit to the Indenture Trustee all amounts then on deposit in the Collection Account in respect of the related Total Payment Distribution Amount for deposit to the Note Account, which deposit shall be deemed to have occurred immediately preceding such purchase.