Termination Upon Purchase by the Servicer or Liquidation of All Mortgage Loans. (a) The Servicer may purchase the outstanding Mortgage Loans, all property acquired by the Trust in respect of any Mortgage Loan and all other property included in any REMIC formed under this Agreement at the price stated in clause (i) of the second paragraph of this Section 9.01(a) on or after the first date on which the aggregate Principal Balance of the Mortgage Loans is less than the Clean-Up Call Percentage of the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date; provided, however, that the Servicer may not so purchase such outstanding Mortgage Loans and property if the price stated in such clause (i) exceeds the fair market value, determined by the Servicer in accordance with prudent industry practices, of such outstanding Mortgage Loans and property. If such right is exercised, the Servicer shall provide to the Trustee, the Delaware Trustee and the Company the written certification of an officer of the Servicer (which certification shall include a statement to the effect that all amounts required to be paid in order to exercise such right have been deposited in the Certificate Account) and the Trustee on behalf of the Trust shall promptly execute all instruments as may be necessary to release and assign to the Servicer the Mortgage Loans, all property acquired by the Trust in respect of any Mortgage Loan and all other property included in any REMIC formed under this Agreement. Except as otherwise set forth in this Article IX, including, without limitation, the obligation of the Servicer to make payments to Certificateholders as hereafter set forth, the Trust and the respective obligations and responsibilities of the Company, the Servicer, the Trustee and the Delaware Trustee created hereby shall terminate in accordance with Section 3808 of the Statutory Trust Statute upon:
Termination Upon Purchase by the Servicer or Liquidation of All Mortgage Loans. (a) Subject to Section 9.02, the respective obligations and responsibilities of the Company, the Servicer and the Trustee created hereby in respect of the Certificates (other than the obligation of the Trustee to make certain payments after the Final Distribution Date to Certificateholders and the obligation of the Company to send certain notices as hereinafter set forth) shall terminate upon the last action required to be taken by the Trustee on the Final Distribution Date pursuant to this Article IX following the earlier of:
Termination Upon Purchase by the Servicer or Liquidation of All Mortgage Loans. The respective obligations and responsibilities of the Servicer and the Company created hereby shall terminate upon the last action required to be taken by the Issuer pursuant to the Trust Agreement and by the Indenture Trustee pursuant to the Indenture following the earlier of:
Termination Upon Purchase by the Servicer or Liquidation of All Mortgage Loans. (a) The Servicer may purchase the outstanding Group 1 and Group 2 Loans, all property acquired by the Trust in respect of any such Mortgage Loan and all other property included in REMIC I or REMIC III in respect of such Mortgage Loans, on or after the first date on which the aggregate Principal Balance of the Group 1 and Group 2 Loans is less than the Groups 1-2 Clean-Up Call Percentage of the aggregate Principal Balance of such Mortgage Loans as of the Cut-Off Date, at a price equal to the sum, reduced by unreimbursed advances (other than advances made with respect to Group 1 and Group 2 Loans as to which the Servicer expects at the time of such purchase, in its sole judgment, that foreclosure is not imminent), of
Termination Upon Purchase by the Servicer or Liquidation of All Mortgage Loans. (a) The Servicer may purchase the outstanding Mortgage Loans, all property acquired by the Trust in respect of any Mortgage Loan and all other property included in any REMIC formed under this Agreement in respect of the Mortgage Loans, on or after the first date on which the aggregate Principal Balance of the Mortgage Loans is less than the Clean-Up Call Percentage of the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date, at a price equal to the sum, reduced by unreimbursed advances (other than advances made with respect to Mortgage Loans as to which the Servicer expects at the time of such purchase, in its sole judgment, that foreclosure is not imminent), of
Termination Upon Purchase by the Servicer or Liquidation of All Mortgage Loans. (a) Except as otherwise set forth in this Article IX, including, without limitation, the obligation of the Servicer to make payments to Certificateholders as hereafter set forth, the Trust and the respective obligations and responsibilities of the Company, the Servicer, the Trustee and the Delaware Trustee created hereby shall terminate in accordance with Section 3808 of the Statutory Trust Statute upon:
Termination Upon Purchase by the Servicer or Liquidation of All Mortgage Loans. Subject to Section 10.02, the respective obligations and responsibilities of the Depositor, the Servicer, the Securities Administrator and the Trustee created hereby (other than the obligation of the Securities Administrator to make certain payments to Certificateholders after the Final Distribution Date and to send certain notices as hereinafter set forth and the obligations of the Securities Administrator pursuant to Sections 5.04(b) and 5.05(b)) shall terminate upon the last action required to be taken by the Securities Administrator on the Final Distribution Date pursuant to this Article X following the earlier of (a) the purchase by the Servicer of all Mortgage Loans and all REO Property remaining in the Trust Estate at a price equal to the sum of (i) 100% of the Stated Principal Balance of each Mortgage Loan (other than any Mortgage Loan as to which REO Property has been acquired and whose fair market value is included pursuant to clause (ii) below) and (ii) the fair market value of such REO Property (as determined by the Servicer as of the close of business on the third Business Day next preceding the date upon which notice of any such termination is furnished to Certificateholders pursuant to the fourth paragraph of this Article X), plus any Class Unpaid Interest Shortfall for any Class of Certificates as well as one month's interest at the related Mortgage Rate on the Stated Principal Balance of each Mortgage Loan (including any Mortgage Loan as to which REO Property has been acquired) or (b) the final payment or other liquidation (or any advance with respect thereto) of the last Mortgage Loan remaining in the Trust Estate or the disposition of all REO Property. The Servicer may not exercise its purchase option until all Reimbursement Amounts owed to the Trust have been paid. The Securities Administrator shall notify the Seller upon notice of the Servicer's intent to exercise its purchase option of any Reimbursement Amount outstanding. Regardless of the foregoing, in no event shall the Trust created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Courx xx Xx. Xxxxx, xiving on the date hereof. The right of the Servicex xx repurchase all of the Mortgage Loans is conditioned upon the aggregate Stated Principal Balance of the Mortgage Loans as of the Final Distribution Date being less than 1% of the aggregate Cut-off Date Prin...
Termination Upon Purchase by the Servicer or Liquidation of All Mortgage Loans. The respective obligations and responsibilities of the Servicer and the Company created hereby shall terminate upon the last action required to be taken by the Issuing Entity pursuant to the Trust Agreement and by the Indenture Trustee pursuant to the Indenture following the earlier of:
Termination Upon Purchase by the Servicer or Liquidation of All Mortgage Loans. (a) The Servicer may purchase the outstanding Mortgage Loans, all property acquired by the Trust in respect of any Mortgage Loan and all other property included in any REMIC formed under this Agreement, on or after the first date on which the aggregate Principal Balance of the Mortgage Loans is less than the Clean-Up Call Percentage of the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date, at a price equal to the sum, reduced by unreimbursed advances (other than advances made with respect to Mortgage Loans as to which the Servicer expects at the time of such purchase, in its sole judgment, that foreclosure is not imminent), of
Termination Upon Purchase by the Servicer or Liquidation of All Mortgage Loans. (a) The Servicer may purchase the outstanding Group 1, Group 2 and Group 3 Loans, all property acquired by the Trust in respect of any such Mortgage Loan and all other property included in REMIC I or REMIC III in respect of such Mortgage Loans, on or after the first date on which the aggregate Principal Balance of the Group 1, Group 2 and Group 3 Loans is less than the Groups 1-3 Clean-Up Call Percentage of the aggregate Principal Balance of such Mortgage Loans as of the Cut-Off Date, at a price equal to the sum, reduced by unreimbursed advances made by the Servicer with respect to Group 1, Group 2 and Group 3 Loans (other than advances made with respect to Group 1, Group 2 and Group 3 Loans as to which the Servicer expects at the time of such purchase, in its sole judgment, that foreclosure is not imminent), of
