Mortgage Loan Purchase Price definition

Mortgage Loan Purchase Price. The price, calculated as set forth in Section 10.01, to be paid in connection with the repurchase of the Mortgage Loans pursuant to Section 10.01.

Mortgage Loan Purchase Price. The price, calculated as set forth in Section 11.01, to be paid in connection with the purchase of the Mortgage Loans pursuant to an Optional Termination.

Mortgage Loan Purchase Price. With respect to any Mortgage Loan required to be purchased by the Seller pursuant to Section 4.1(c) hereof, an amount equal to the sum of (i) 100% of the unpaid principal balance of the Mortgage Loan on the date of such purchase, and (ii) accrued interest thereon at the applicable Mortgage Rate from the date through which interest was last paid by the Mortgagor to the first day in the month in which the Mortgage Loan Purchase Price is to be distributed to the Purchaser or its designees.

Examples of Mortgage Loan Purchase Price in a sentence

• On the Closing Date, upon (i) notification from the Mortgage Loan Seller that the Mortgage Loan Purchase Price referred to in Section 1 has been received by the Mortgage Loan Seller and (ii) the issuance of the Certificates, the Purchaser shall be authorized to release to the Certificate Administrator or its designee all of the Mortgage Files in the Purchaser’s possession relating to the Mortgage Loans.

• Subject to the terms and conditions set forth in this Agreement, the Mortgage Loan Seller agrees to sell, assign, transfer and otherwise convey to the Purchaser upon receipt of the Mortgage Loan Purchase Price referred to in this Section 1, and the Purchaser agrees to purchase, the Mortgage Loans.

• Such Late Delivery Penalty Fee may be deducted from the applicable Mortgage Loan Purchase Price specified in the applicable Program Notice relating to a particular Program Installment.

• Only an amount (the “Group II REMIC Termination Payment”) equal to the Group II Mortgage Loan Purchase Price less any Group II Swap Optional Termination Payment shall be made available for distribution to the Group II Regular Certificates.

• EMC shall remit the Mortgage Loan Purchase Price to the Trustee on the Business Day immediately preceding the Distribution Date on which such Optional Termination by EMC will be effected.

More Definitions of Mortgage Loan Purchase Price

Mortgage Loan Purchase Price means the amount described in Section 2 of the Agreement.

Mortgage Loan Purchase Price paid by Depositor shall be equal to the amount that the Depositor and the Seller have mutually agreed upon as the Seller's share of the net securitization proceeds from the sale of the Publicly Offered Certificates and the Private Certificates as set forth in the Closing Statement (which amount includes, without limitation, accrued interest).

Mortgage Loan Purchase Price. The price, calculated as set forth in Section 9.01, to be paid in connection with the purchase of the Trust Collateral by the Auction Purchaser.

Mortgage Loan Purchase Price means the amount described in SECTION 2 of the Agreement.

Mortgage Loan Purchase Price means the price to be paid by the Servicer to a Lender for a Mortgage Loan, which shall be the percentage, of the unpaid principal balance of such Mortgage Loan as set forth in the [Rate Lock Notice], plus accrued interest to the date of purchase.

Mortgage Loan Purchase Price paid by Depositor shall be equal to $260,582,609.74.

Mortgage Loan Purchase Price for any such Optional Termination shall be equal to the sum of (i) 100% of the Stated Principal Balance of each Mortgage Loan in the applicable Loan Group(s) (other than in respect of REO Property) plus accrued and unpaid interest thereon from the date to which such interest was paid or advanced at the applicable Mortgage Rate, to but not including the Due Date in the month of the final Distribution Date (or the Net Mortgage Rate with respect to any related Mortgage Loan currently serviced by the entity exercising such Optional Termination) and (ii) with respect to any REO Property, the lesser of (x) the appraised value of any REO Property as determined by the higher of two appraisals completed by two independent appraisers selected by the Depositor at the expense of the Depositor and (y) the Stated Principal Balance of each related Mortgage Loan related to any REO Property, in each case and (iii) (A) any remaining unreimbursed Advances, Servicing Advances and unpaid Servicing Fees (other than any remaining unreimbursed Advances and Servicing Advances and unpaid Servicing Fees, if any, due to the Terminating Entity) and other amounts payable to the Servicer, the Custodian and the Trustee and (B) any Swap Termination Payments owed to the Swap Counterparty which remains unpaid or which is due to the exercise of such option (the “Swap Optional Termination Payment”).