Common use of Purchase Price Clause in Contracts

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website, multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 5 contracts

Samples: Purchase, Warranties and Servicing Agreement (STARM Mortgage Loan Trust 2007-3), Purchase, Warranties and Servicing Agreement (Starm Mortgage Loan Trust 2007-2), Purchase, Warranties and Servicing Agreement (MASTR Asset Securitization Trust 2006-2)

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Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteConfirmation, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average its Net Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date), and (4) all Prepayment Charges on the Mortgage Loans collected on or after the Cut-Off Date. The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 5 contracts

Samples: Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar7), Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar6), Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-6)

Purchase Price. The purchase price for the Mortgage Loans (the "Purchase Price for each Mortgage Loan Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided The Purchase Price may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyrespective Commitment Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance aggregate principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 5 contracts

Samples: Warranties and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A1), Warranties and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Af2), Warranties and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A3)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related attached Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of the Mortgage Loans, so computed as of the Cut-off Date. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, Loans as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through of the day prior to the related Closing Date, inclusiveMortgage Loans. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. If, subsequent to the Closing Date, the amount on which the Purchase Price with respect to a Mortgage Loan was based is found to be in error, or if, for any other reason, the Purchase Price or such other amounts are found to be in error, within ten (10) Business Days of the receipt of information sufficient to provide notice that payment is due the party benefiting from the error shall pay an amount sufficient to correct and reconcile the Purchase Price plus interest thereon at an agreed upon market rate or such other amounts and shall provide a reconciliation statement and such other documentation sufficient reasonably to satisfy the other party concerning the accuracy of such reconciliation.

Appears in 5 contracts

Samples: Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-1f), Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-2f), And Servicing Agreement (Banc of America Funding 2006-5 Trust)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or not collectedbut only to the extent such payments were actually received. The initial principal amount of the related Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of related Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date through the day prior to the related Closing Date, inclusiveof those Mortgage Loans. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1l) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not Date, to the extent actually collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to such Cut-off Date, but to be applied on a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-Nc5), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He7), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-Nc3)

Purchase Price. The purchase price for the Mortgage Loans (the "Purchase Price for each Mortgage Loan Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided The Purchase Price may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance aggregate principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 4 contracts

Samples: Warranties and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-A3), Indemnification Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-A4), Warranties and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Af1)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteLoans, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collectedto the extent such payments were actually received. The initial principal amount of the Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the Cut-off Date, as set forth on the Mortgage Loan Schedule. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of related Mortgage Loans, Loans as of the applicable Cut-off Date at the weighted average Mortgage Interest Rate of those Mortgage Loans from the date through which interest on the Mortgage Loan Remittance Rate from such Cuthas been paid through (the "Paid-off Date through Date") the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1l) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to after the period prior to the applicable CutPaid-off through Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not Date, to the extent actually collected, together with any unscheduled principal prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to the Cut-off Date, but to be applied on a Due Date due date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit cause any such prepaid amounts into to be remitted to the Custodial Account, which account is established for the benefit of the Purchaser Servicer for subsequent remittance by the Seller to the Purchaser.

Appears in 4 contracts

Samples: Mortgage Loan Purchase and Warranties Agreement (Gs Mortgage Sec Corp Mort Pass THR Cert Ser 2002-Wmc1), Mortgage Loan Purchase and Warranties Agreement (Gs Mortgage Sec Corp Mortgage Pass THR Certs Ser 2003-Sea), Mortgage Loan Purchase and Warranties Agreement (Gs Mortgage Sec Corp Mort Pass THR Cert Ser 2002-Wmc1)

Purchase Price. The Purchase Price for each Mortgage Loan Package shall be the percentage of par as stated in or as otherwise calculated pursuant to the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, plus accrued interest on the current aggregate Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loan Package at the weighted average Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in initial principal amount of the preceding paragraph Mortgage Loans shall be paid the aggregate Stated Principal Balance of the Mortgage Loans, so computed as of the related Cut-off Date, after application of scheduled payments of principal due on or before the applicable Closing Date related Cut-off Date, whether or not collected (except with respect to Option ARM Mortgage Loans, in which case, to the extent received). Such payments shall be made to the account designated by the Company by wire transfer of to immediately available fundsfunds by 3:00 p.m., Charlotte, North Carolina time, on the related Closing Date. The Purchaser shall be entitled to (1) all scheduled principal due (except with respect to Option ARM Mortgage Loans, in which case, to the extent received) after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that that, except with respect to Option ARM Mortgage Loans, all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller Company or any successor servicer after such the related Cut-off Date shall belong to the Seller), Company) and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, collected together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; , provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller Company shall deposit any such prepaid amounts into the Custodial Account, which account is established Account for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Lares Asset Securitization, Inc.), Sale and Servicing Agreement (Luminent Mortgage Trust 2007-1), Sale and Servicing Agreement (Luminent Mortgage Trust 2006-6)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or attached to the UBS Websiterelated Term Sheet, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCompany, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of each Mortgage Loan from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller Company or any successor servicer to the Company after such the related Cut-off Date shall belong to the SellerCompany), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller Company shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller Company to the Purchaser.

Appears in 4 contracts

Samples: Recognition Agreement (Bear Stearns ALT-A Trust 2006-1), Purchase, Warranties and Servicing Agreement (Prime Mortgage Trust 2007-1), Pooling and Servicing Agreement (Prime Mortgage Trust 2006-2)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment the adjustments as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due received on or before the applicable related Cut-off Date. Notwithstanding the foregoing, whether if a Mortgage Loan prepays in full between the related Cut-off Date and the related Closing Date, inclusive, the Seller shall either remove such Mortgage Loan from the Mortgage Loan Schedule or reimburse the Purchaser for the premium over par which the Purchaser paid within five (5) days of the related Closing Date. In addition, Purchaser will not collected. If so provided purchase any Mortgage Loan that has not made a payment as of the date set forth in the related Purchase Price and Terms Letter or the UBS Website, portions Agreement. The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of such Mortgage Loans, so computed as of the related Cut-off Date. On each Closing Date, the Purchaser shall deduct from the Purchase Price proceeds certain costs and expenses set forth in Article XIII or in the related Purchase Price and Terms Agreement. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closingon the related Closing Date, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date the date interest was last received on the related Mortgage Loan through the day prior to the related Closing Date, inclusive. The Purchase Xxx Xxxxxxxx Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available federal funds. The Purchaser shall be entitled to (1i) all scheduled principal due received after the applicable related Cut-off Date, (2ii) all other recoveries of principal late charges, assumption fees or other charges collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3iii) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to at the period prior to the applicable Cut-off Date)Mortgage Interest Rate. The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due received on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that . All payments of scheduled principal and interest prepaid for a Due Date beyond (minus interest at the applicable Servicing Fee Rate) due on the first day of the month after the related Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller belong to the Purchaser.

Appears in 4 contracts

Samples: Lehman Brothers (Structured Adjustable Rate Mortgage Loan Trust Series 2007-5), Reconstituted Servicing Agreement (Lehman Mortgage Trust 2007-10), Reconstituted Servicing Agreement (LXS 2007-3)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment the adjustments as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balancescheduled principal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due received on or before the applicable related Cut-off Date. The initial principal amount of the Mortgage Loans shall be the aggregate scheduled principal balance of such Mortgage Loans, whether so computed as of the related Cut-off Date. On each Closing Date, the Purchaser shall deduct from the Purchase Price proceeds certain costs and expenses set forth in Article XIII or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyLetter. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCompany, at closingon the related Closing Date, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available federal funds. The Purchaser shall be entitled to (1i) all scheduled principal due received after the applicable related Cut-off Date, (2ii) all other recoveries of principal late charges, assumption fees or other charges collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3iii) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to at the period prior to the applicable Cut-off Date)Mortgage Interest Rate. The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due received on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that . All payments of scheduled principal and interest prepaid for a Due Date beyond (minus interest at the applicable Servicing Fee Rate) due on the first day of the month after the related Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller belong to the Purchaser.

Appears in 4 contracts

Samples: Warranties and Servicing Agreement (Sasco 2006-Bc4), Warranties and Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc5), Warranties and Servicing Agreement (Sasco 2006-Bc3)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteLoans, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or not collected. The initial principal amount of the Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of related Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate of those Mortgage Loans, net of the Servicing Fee Rate, from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (providedDate, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date), and (4) all Prepayment Penalties (unless the related Purchase Price and Terms Agreement indicates otherwise) collected on or after the related Cut-off Date (minus the portion of any such payment which is allocable to the period prior the related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date Date, whether or not collected, together with any unscheduled principal prepayments collected prior to the such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to such Cut-off Date, but to be applied on a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 4 contracts

Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-12)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or not collectedreceived by the Seller. The initial principal amount of the related Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closingon the related Closing Date, accrued interest on the current Stated Principal Balance principal amount of the respective pool of related Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date through the day prior to the related Closing Date, inclusiveof those Mortgage Loans. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Upon Seller’s receipt of the related Purchase Price, the Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not Date, to the extent actually collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to such Cut-off date, but to be applied on a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser...

Appears in 3 contracts

Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)

Purchase Price. The Purchase Price purchase price for each Mortgage Loan Package (the "Purchase Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balancescheduled principal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on in the related Mortgage Loan Schedule or the UBS WebsitePackage, after application of scheduled payments of principal for such related Loan Package due on or before the applicable such Cut-off Date, Date whether or not collected. If so provided The Purchase Price for a Loan Package may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described abovePrice, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance aggregate scheduled principal amount of the respective pool of related Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate for each Loan Package from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in With respect to each Loan Package, the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 3 contracts

Samples: Wells Fargo Servicing Agreement (Citigroup Mortgage Loan Trust Inc., Series 2006-Ar2), Assignment, Assumption and Recognition Agreement (Bear Stearns ARM Trust 2007-2), Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar1)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteConfirmation, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, (i) the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, each Loan as of the applicable related Cut-off Date at the weighted average Mortgage its Net Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as both inclusive and (ii) the Seller shall pay to the Initial Purchaser the costs and fees expected to be associated with the recording of an Assignment of Mortgage with respect to each Loan (such amount may be set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available fundsrelated Confirmation). The Purchaser shall own and be entitled to receive with respect to each Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer Servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable (Fee minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller or Servicer shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller Servicer to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 3 contracts

Samples: Master Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1), Master Loan Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2006-2), Master Loan Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2006-3)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteConfirmation, portions certain of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average its Net Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal and any Prepayment Charges, unless otherwise specified in the related Confirmation, collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Net Mortgage Rate (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller Servicer to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 3 contracts

Samples: Reconstituted Servicing Agreement (HarborView 2007-5), Reconstituted Servicing Agreement (Harborview 2006-7), Reconstituted Servicing Agreement (HarborView 2007-2)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, as of the applicable related Cut-off Date, of the Mortgage Loans Loan listed on the related Mortgage Loan Schedule or attached to the UBS Websiterelated Term Sheet, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCompany, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of each Mortgage Loan from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller Company or the Servicer or any successor servicer after such the related Cut-off Date shall belong to the SellerCompany), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller Servicer shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller Servicer to the Purchaser.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Commitment Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteCommitment Letter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average its Mortgage Loan Remittance Interest Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in , less the preceding paragraph shall be paid Servicing Fee, pro rated on the applicable Closing Date by wire transfer basis of immediately available fundsa 30-day month. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 3 contracts

Samples: Mortgage Loan Purchase and Servicing Agreement (CMALT (CitiMortgage Alternative Loan Trust), Series 2007-A7), Mortgage Loan Purchase and Servicing Agreement (Citicorp Mortgage Securities Trust, Series 2007-6), Mortgage Loan Purchase and Servicing Agreement (Citicorp Mortgage Securities Inc)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated calculated in accordance with the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or ). The initial principal amount of the UBS Website, multiplied by related Mortgage Loans shall be the aggregate Stated Principal Balanceactual unpaid principal balance of the Mortgage Loans, so computed as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced and paid for separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of related Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date through the day prior to the related Closing Date, inclusiveof those Mortgage Loans. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not Date, to the extent actually collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to such Cut-off date, but to be applied on a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 3 contracts

Samples: Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs), Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax), Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax)

Purchase Price. The Purchase Price for the Mortgage Loans in each Mortgage Loan Package shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein( the "Purchase Price Percentage") or the UBS Website, multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable related Cut-off Date. Purchaser will pay to Seller accrued interest on the Stated Principal Balance of each Mortgage Loan as of the related Cut-off Date at the weighted average its Mortgage Loan Remittance Rate from such the related Cut-off Date through up to and including the day prior to preceding the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid prorated on the applicable Closing Date by wire transfer basis of immediately available fundsa 360 day year consisting of twelve (12) months of thirty (30) days each. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1a) all scheduled principal due after the applicable Cut-off Date, (2b) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by Seller after the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3c) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to Purchaser on the first Remittance Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the Cut-off Date shall belong to Purchaser.

Appears in 3 contracts

Samples: Purchase and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust), Flow Mortgage Loan Purchase and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2004-15), Purchase and Servicing Agreement (Lehman Sarm 2005-5)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteConfirmation, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, (i) the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, each Loan as of the applicable related Cut-off Date at the weighted average Mortgage its Net Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as both inclusive and (ii) the Seller shall pay to the Initial Purchaser the costs and fees expected to be associated with the recording of an Assignment of Mortgage or, with respect to a Cooperative Loan, an Assignment of Note and Pledge Agreement, with respect to each Loan (such amount may be set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available fundsrelated Confirmation). The Purchaser shall own and be entitled to receive with respect to each Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable (Fee minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 3 contracts

Samples: Master Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-Oa2), Master Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1), Master Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-3)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceactual unpaid principal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or not collectedbut only to the extent such payments were actually received. The initial principal amount of the related Mortgage Loans shall be the aggregate actual unpaid principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest from the last “interest paid to” date through the day immediately preceding the related Closing Date, inclusive, on the current Stated Principal Balance aggregate actual unpaid principal amount of the respective pool of related Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date through the day prior to the related Closing Dateof those Mortgage Loans, inclusivenet of any applicable Servicing Fees. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding actual unpaid principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not Date, to the extent actually collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to such Cut-off Date, but to be applied on a Due Date beyond the applicable related Cut-off Date shall not be applied to the actual unpaid principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 3 contracts

Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-12), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-13)

Purchase Price. The Purchase Price purchase price for each Mortgage Loan Package (the "Purchase Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on in the related Mortgage Loan Schedule or the UBS WebsitePackage, after application of scheduled payments of principal for such related Loan Package due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided The purchase price for a Loan Package may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described abovePrice, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate for each Loan Package from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in With respect to each Loan Package, the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date due date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 3 contracts

Samples: Custodial Agreement (Prime Mortgage Trust 2007-1), Custodial Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He3), Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2006-Ac2)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated defined in the related initial Purchase Price and Terms Letter (subject or the subsequent related Trade Confirmation as the Purchase Price Percentage(subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related in each Mortgage Loan Schedule or the UBS WebsitePackage, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closingon the related Closing Date, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of the Mortgage Loans from such Cut-the Cut off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph paragraphs shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. If a Mortgage Loan prepays in full between the Cut-off Date and the Closing Date, inclusive, the Seller shall either remove such Mortgage Loan from the Mortgage Loan Schedule or if the Mortgage Loan Schedule has been finalized, reimburse the Purchaser for the premium over par which the Purchaser paid within 5 business days of request by the Purchaser; provided, however, such request shall not be later than 60 days after the Closing Date. If, subsequent to the related Closing Date, the amount on which the Purchase Price with respect to a Mortgage Loan was based is found to be in error, or if, for any other reason, the Purchase Price or such other amounts are found to be in error, within ten (10) Business Days of the receipt of information sufficient to provide notice that payment is due the party benefiting from the error shall pay an amount sufficient to correct and reconcile the Purchase Price plus interest thereon at an agreed upon market rate or such other amounts and shall provide a reconciliation statement and such other documentation sufficient reasonably to satisfy the other party concerning the accuracy of such reconciliation.

Appears in 3 contracts

Samples: Warranties and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2007-S1), Warranties and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S1), Warranties and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S4)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable related Cut-off Date whether or not collected. The initial principal amount of the related Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool related Mortgage Loans at the weighted average interest rate of those Mortgage Loans, as net of interest at the applicable Servicing Fee Rate and LPMI Rate, if applicable, from the related Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through to the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1l) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable interest at the Servicing Fees Fee Rate and LPMI RatesRate, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date due date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate and LPMI Rate, if applicable) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. All payments of principal and interest, less interest at the Servicing Fee Rate and LPMI Rate, if applicable, due on the first day of the month after the related Cut-off Date shall belong to the Purchaser.

Appears in 3 contracts

Samples: Letter Agreement (MASTR Adjustable Rate Mortgages Trust 2007-3), Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-Oa2), Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2007-1)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Commitment Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteCommitment Letter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sd3), Master Mortgage Loan Purchase and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa2), Master Mortgage Loan Purchase and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar5)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par Purchase Price Percentage as stated in the related Purchase Price and Terms Commitment Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteCommitment Letter, portions of the each Mortgage Loans Loan Package shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average related Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid , pro-rated on the applicable Closing Date by wire transfer basis of immediately available fundsa 30-day month. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1a) all scheduled principal due after the applicable Cut-off Date, (2b) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by Seller after the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3c) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to Purchaser on the first Remittance Date following the related Closing Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the Cut-off Date shall belong to Purchaser.

Appears in 2 contracts

Samples: Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-6), Letter Agreement (Citigroup Mortgage Loan Trust 2006-Ar7)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Commitment Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteCommitment Letter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 2 contracts

Samples: Assignment, Assumption and Recognition Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He1), Master Mortgage Loan Purchase and Servicing Agreement (Deutsche Alt-a Securities Inc)

Purchase Price. The Purchase Price for each the Mortgage Loans in a Mortgage Loan Package shall be equal to the sum of (a) the percentage of par as stated in the related Purchase Price and Terms Letter or UBS Website (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, Balance as of the applicable related Cut-off Date, Off Date of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application plus (b) an amount equal to accrued interest on the aggregate Stated Principal Balance of scheduled payments the Mortgage Loans at the weighted average Mortgage Interest Rate of principal due on or before such Mortgage Loans from the applicable related Cut-off Date, whether or Date to but not collectedincluding the related Closing Date (assuming 30/360) (the “Purchase Price”). If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to addition, on the Purchase Price as described above, related Closing Date the Purchaser Company shall pay to the Seller, at closing, accrued interest on Purchaser the current Stated Principal Balance costs and fees expected to be associated with the recording of the respective pool an Assignment of Mortgage Loans, as of the applicable Cut-off Date at the weighted average with respect to each Mortgage Loan Remittance Rate from (such Cut-off Date through the day prior to amount may be set forth in the related Closing Date, inclusivePurchase Price and Terms Letter or UBS Website). The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall be entitled to (1) all scheduled recoveries of principal due collected after the applicable related Cut-off Date, and (2) all other recoveries of principal collected on or after such Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of Such Monthly Payments due on Due Date following the applicable related Cut-off Off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller Company shall deposit any such prepaid amounts Monthly Payments into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Ubs Real (MASTR Alternative Loan Trust 2006-3), Ubs Real (MASTR Asset Securitization Trust 2006-2)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related attached Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of the Mortgage Loans, so computed as of the Cut-off Date. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, Loans as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate of the Mortgage Loans from such Cut-the Cut off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. If a Mortgage Loan prepays in full between the Cut-off Date and the Closing Date, inclusive, the Seller shall either remove such Mortgage Loan from the Mortgage Loan Schedule or if the Mortgage Loan Schedule has been finalized, reimburse the Purchaser for the premium over par which the Purchaser paid within 5 business days of request by the Purchaser; provided, however, such request shall not be later than 60 days after the Closing Date. If, subsequent to the Closing Date, the amount on which the Purchase Price with respect to a Mortgage Loan was based is found to be in error, or if, for any other reason, the Purchase Price or such other amounts are found to be in error, within ten (10) Business Days of the receipt of information sufficient to provide notice that payment is due the party benefiting from the error shall pay an amount sufficient to correct and reconcile the Purchase Price plus interest thereon at an agreed upon market rate or such other amounts and shall provide a reconciliation statement and such other documentation sufficient reasonably to satisfy the other party concerning the accuracy of such reconciliation.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-11h), Assignment and Assumption Agreement (Structured Asset Securities Corp)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage amount determined pursuant to the terms of par as stated in the related Purchase Price and Terms Commitment Letter (subject to adjustment as provided therein) or the UBS Website, multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected). If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteCommitment Letter, portions of the Mortgage Loans shall be priced separately. The Purchase Price less the Holdback Amount shall be remitted by the Initial Purchaser to the Company on the Closing Date by wire transfer of immediately available funds to the bank account designated by the Company. The Holdback Amount, less the amount required to reimburse the Initial Purchaser for First Payment Default Loans, shall be remitted by the Initial Purchaser to the Company by wire transfer of immediately available funds to the bank account designated by the Company on the day on which the Company has no further obligations with respect to any First Payment Default Loans. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the SellerCompany, at closingon the Closing Date, accrued interest on the current Stated Actual Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable Cut-off Date at the weighted average its Mortgage Loan Remittance Interest Rate from such the Cut-off Date through to but not including the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer Interim Servicer after such the Cut-off Date shall belong to the SellerCompany), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Interest Rate (minus that portion of any such interest payment which is allocable to the period that was due on or prior to the applicable Cut-off Date)) and (4) all Prepayment Charges on the Mortgage Loans collected on or after the Closing Date. The outstanding principal balance Actual Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller Company shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller Company to the Purchaser on the first Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the Cut-off Date shall belong to the Purchaser.

Appears in 2 contracts

Samples: Mortgage Loan Purchase and Interim Servicing Agreement (Asset Backed Securities CORP Home Equity Loan Trust, Series AMQ 2007-He2), Mortgage Loan Purchase and Interim Servicing Agreement (Asset Backed Securities CORP Home Equity Loan Trust, Series AMQ 2007-He2)

Purchase Price. The Purchase Price for each the Mortgage Loans in a Mortgage Loan Package shall be equal to the sum of (a) the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Scheduled Principal Balance, Balance of Mortgage Loans as of the applicable related Cut-off Date, of the Mortgage Loans Date listed on the related Mortgage Loan Schedule or plus (b) accrued interest on the UBS Website, after application aggregate Scheduled Principal Balance of scheduled payments the related Mortgage Loans at the weighted average Mortgage Loan Remittance Rate of principal due on or before such Mortgage Loans from the applicable related Cut-off Date, whether or Date to but not collectedincluding such Closing Date (the “Purchase Price”). If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the each Mortgage Loans Loan Package shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall be entitled to (1) the principal portion of all scheduled principal Monthly Payments due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that the principal portion of all scheduled payments of principal Monthly Payments due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the related Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Scheduled Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid Monthly Payments for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts Monthly Payments shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts Monthly Payments into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Assignment, Assumption and Recognition Agreement (Prime Mortgage Trust 2007-1), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar3)

Purchase Price. The Purchase Price for each the Mortgage Loan Loans shall be equal to [ ]% (the percentage of par as stated in the related "Purchase Price and Terms Letter (subject to adjustment as provided thereinPercentage") or the UBS Website, multiplied by the aggregate Stated Principal Balanceoutstanding principal balance of the Mortgage Loans actually purchased, as of the applicable Cut-off Date, after application of payments of principal and interest due on the Mortgage Loans listed on the related Mortgage Loan Schedule whether or the UBS Website, after application of scheduled not such payments of principal due were received on or before the applicable Cut-off Date, whether or not collected. If so provided in plus the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate (as defined herein) from such Cut-off Date the last paid installment date through the day prior to the related Closing Date, inclusive. The weighted average of all mortgage interest rates (the "WAC") on the Mortgage Loans is [ ]%. On the Closing Date, should the WAC for the Mortgage Loans actually purchased vary from [ ]% the Purchase Price Percentage shall be adjusted based upon a Buyup ratio of [ ]:1 and a Buydown ratio of [ ]:1 (the "Adjusted Purchase Price Percentage"). The Adjusted Purchase Price for the Mortgage Loans shall be equal the Adjusted Purchase Price Percentage multiplied by the aggregate outstanding principal balance of the Mortgage Loans actually purchased, as of the Cut-off Date, after application of payments of principal and interest due on the Mortgage Loans whether or not such payments were received on or before the Cut-off Date, plus the accrued interest at the Mortgage Loan Remittance Rate (as defined herein) from the last paid installment date through the day prior to the Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph or Adjusted Purchase Price shall be paid on to the applicable Closing Date Seller in immediately available funds by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Closing Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Master Mortgage Loan Purchase and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-23), Master Mortgage Loan Purchase and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-22)

Purchase Price. The Purchase Price for each Mortgage Loan in the related Mortgage Loan Package shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteClosing Schedule, after application of scheduled payments of principal due actually received on or before the applicable related Cut-off Date. The initial principal amount of the Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, whether or not collectedso computed as of the related Cut-off Date as set forth on the related Mortgage Loan Schedule. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of Mortgage Loans, Loans in the related Mortgage Loan Package as of the applicable related Cut-off Date at the weighted average Net Mortgage Interest Rate of those Mortgage Loans from the date through which interest on the Mortgage Loan Remittance Rate from such Cuthas been paid (the "Paid-off Date through Date") through the day prior to the related Closing Date, inclusive, which shall in no case exceed 59 days interest. The Purchase Price for the related Mortgage Loan Package plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The With respect to the Mortgage Loans in a Mortgage Loan Package, the Purchaser shall be entitled to (1) all scheduled recoveries of principal due collected after the applicable related Cut-off Date, and (2) all other recoveries of principal collected on or after such Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to after the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaseractually received.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (GSAMP Trust 2005-He4), Pooling and Servicing Agreement (GSAMP Trust 2005-He4)

Purchase Price. The purchase price for the Mortgage Loans (the "Purchase Price for each Mortgage Loan Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided The Purchase Price may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance aggregate principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Warranties and Servicing Agreement (RBSGC 2007-A), Indemnification Agreement (RBSGC Mortgage Loan Trust 2007-B)

Purchase Price. The purchase price for the Mortgage Loans (the "Purchase Price for each Mortgage Loan Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Websiterespective Commitment Letter, multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided The Purchase Price may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyrespective Commitment Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Lehman (Structured Adjustable Rate Mortgage Loan Trust Series 2005-18), Warranties and Servicing Agreement (Lehman Sarm 2005-5)

Purchase Price. The Purchase Price for each the Mortgage Loans in a Mortgage Loan Package shall be equal to the sum of (a) the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Scheduled Principal Balance, as Balance of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or plus (b) accrued interest on the UBS Website, after application aggregate Scheduled Principal Balance of scheduled payments the Mortgage Loans at the weighted average Mortgage Interest Rate of principal due on or before such Mortgage Loans from the applicable Cut-off Date, whether or Date to but not collectedincluding such Closing Date (the “Purchase Price”). If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall be entitled to (1) the principal portion of all scheduled principal Monthly Payments due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that the principal portion of all scheduled payments of principal Monthly Payments due on or before such the Cut-off Date and collected by the Seller Servicer or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the related Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance Scheduled Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid Monthly Payments for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts Monthly Payments shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts Monthly Payments into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Assumption and Recognition Agreement (CSMC Trust 2007-4), Assumption and Recognition Agreement (CSMC Mortgage Backed Trust Series 2007-1)

Purchase Price. The purchase price for the Mortgage Loans (the “Purchase Price for each Mortgage Loan Price”) shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balancescheduled principal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided The Purchase Price may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance aggregate scheduled principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Reconstituted Servicing Agreement (SASCO Mortgage Loan Trust 2005-Wf3), Reconstituted Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-21xs)

Purchase Price. The Purchase Price for each Mortgage Loan On the first Business Day following the Agreement Date, Purchaser shall be pay Seller an amount (the percentage “Deposit”) equal to the product of par as stated (i) $24,241,315 and (ii) Current Excess Servicing Spread Percentage, without any of the adjustments provided in the related Purchase Price and Terms Letter Sale Agreement for such calculation, as an xxxxxxx money deposit. In full consideration for the purchase of the Current Excess Servicing Spread and the rights under the Future Spread Agreement for GNMA Mortgage Loans, and upon the terms and conditions of this Agreement, Purchaser shall pay to Seller an amount (subject the “Base Purchase Price”) equal to adjustment as provided thereinthe product of (x) or the UBS Website, multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, outstanding principal balance of the Mortgage Loans listed on as of the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to (y) the Purchase Price as described above, Percentage and (z) the Current Excess Servicing Spread Percentage. The Base Purchase Price shall be allocated by the Parties on the Sale Date to reflect the consideration for the purchase of the Current Excess Servicing Spread hereunder (the “Purchase Price”) and the consideration for the rights acquired by Purchaser under the Future Spread Agreement for GNMA Mortgage Loans. The Base Purchase Price shall be payable by the Purchaser shall pay to the Seller, at closing, accrued interest Seller as follows: (a) the Deposit shall be payable on the current Stated Principal Balance of first Business Day following the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Agreement Date, (2b) all other recoveries 50% of principal collected the estimated Base Purchase Price net of the Deposit shall be payable on or after such Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off the Sale Date and collected by (c) the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable the Base Purchase Price that has not been paid to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance Seller by Purchaser as of such Cut-off date, including with respect to Mortgage Loans that have prepaid between the Sale Date and the Servicing Transfer Date. Such prepaid amounts , plus interest thereon at the Federal Funds Rate for the period from the Sale Date to the Servicing Transfer Date shall be payable on the property of the PurchaserServicing Transfer Date. The Seller shall deposit any such prepaid amounts into deliver the Custodial Account, which account Schedule of Mortgage Loans no later ten (10) Business Days after the Sale Date. In the event there is established for the benefit an adjustment and reconciliation of the Purchaser for subsequent remittance Seller’s purchase price pursuant to the terms of Section 3.01(d) of the Purchase and Sale Agreement, the Base Purchase Price shall be subject to a corresponding adjustment and any adjustment amounts (including interest) shall be paid by the Seller Purchaser or the Seller, as applicable, to the Purchaserother party within ten (10) Business Days from receipt of satisfactory written verification of amounts due.

Appears in 2 contracts

Samples: Acquisition Agreement (Nationstar Mortgage Holdings Inc.), Newcastle Investment Corp

Purchase Price. The Purchase Price MSR XIII LLC shall act as Purchaser for each any Subsequent Sale Date occurring after 90 days following the Sale Date with respect to purchases of current excess servicing spread relating to any Non-Agency Mortgage Loan pursuant to the Purchase and Sale Agreement until the Termination Date. For avoidance of doubt, the purchaser for the Sale Date and any Subsequent Sale Date occurring within 90 days following the Sale Date will be MSR XII LLC and not MSR XIII LLC, and any related current excess servicing spread shall be sold pursuant to the percentage Current Excess Servicing Spread Acquisition Agreement for Non-Agency Mortgage Loans for MSR XII LLC and not this Agreement, and MSR XIII LLC shall not acquire any interest in such current excess servicing spread. In full consideration for the purchase of par as stated in the related Current Excess Servicing Spread and the rights under the Future Spread Agreement for Non-Agency Mortgage Loans, and upon the terms and conditions of this Agreement, Purchaser shall pay to Seller an amount (the “Base Purchase Price and Terms Letter Price”) equal to the product of (subject to adjustment as provided thereinx) or the UBS Website, multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, outstanding principal balance of the Mortgage Loans listed as of the Cut-Off Date, (y) the Purchase Price Percentage and (z) the Current Excess Servicing Spread Percentage. The Base Purchase Price shall be allocated by the Parties on the related Subsequent Sale Date to reflect the consideration for the purchase of the Current Excess Servicing Spread hereunder (the “Purchase Price”) and the consideration for the rights acquired by Purchaser under the Future Spread Agreement for Non-Agency Mortgage Loan Schedule or Loans. The Base Purchase Price shall be payable by the UBS Website, after application Purchaser to the Seller as follows: (a) 50% of scheduled payments the estimated Base Purchase Price net of principal due on or before the portion of the Deposit with respect to the applicable Cut-off Servicing Agreements shall be payable on the related Subsequent Sale Date and (b) the portion of the Base Purchase Price with respect to the Mortgage Servicing Rights transferred on such Servicing Transfer Date that has not been paid to Seller by Purchaser as of such date, including with respect to Mortgage Loans that have prepaid between either (x) the Subsequent Sale Date and the initial applicable Servicing Transfer Date or (y) two Servicing Transfer Dates pertaining to the same Mortgage Servicing Rights, plus interest thereon at the Federal Funds Rate for the period from the Subsequent Sale Date to such Servicing Transfer Date or between such Servicing Transfer Dates, shall be payable on the Servicing Transfer Date. On the Initial Applicable Subsequent Sale Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions MSR XIII LLC shall pay any unused portion of the Mortgage Loans shall be priced separatelyDeposit to MSR XII LLC. In addition to On the Purchase Price as described aboveTermination Date, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance any unused portion of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph Deposit shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled Seller to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into deliver the Custodial Account, which account Schedule of Mortgage Loans no later ten (10) Business Days after each Subsequent Sale Date following the Initial Applicable Subsequent Sale Date. In the event there is established for the benefit an adjustment and reconciliation of the Purchaser for subsequent remittance by the Seller Seller’s purchase price pursuant to the Purchaserterms of Section 3.01(d) of the Purchase and Sale Agreement, the Base Purchase Price shall be subject to a corresponding adjustment and any adjustment amounts (including interest) shall be paid by Purchaser or the Seller, as applicable, to the other party within ten (10) Business Days from receipt of satisfactory written verification of amounts due.

Appears in 2 contracts

Samples: Current Excess Servicing Spread Acquisition Agreement (Nationstar Mortgage Holdings Inc.), Current Excess Servicing Spread Acquisition Agreement (Newcastle Investment Corp)

Purchase Price. The Purchase Price for each the Mortgage Loans in a Mortgage Loan Package shall be equal to the sum of (a) the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Scheduled Principal Balance, as Balance of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or plus (b) accrued interest on the UBS Website, after application aggregate Scheduled Principal Balance of scheduled payments the Mortgage Loans at the weighted average Mortgage Interest Rate of principal due on or before such Mortgage Loans from the applicable Cut-off Date, whether or Date to but not collectedincluding such Closing Date (the “Purchase Price”). If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall be entitled to (1) the principal portion of all scheduled principal Monthly Payments due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that the principal portion of all scheduled payments of principal Monthly Payments due on or before such the Cut-off Date and collected by the Seller Servicer or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance Scheduled Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid Monthly Payments for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts Monthly Payments shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts Monthly Payments into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2005-1), Assignment Agreement (Terwin Securitization LLC)

Purchase Price. The purchase price for the Mortgage Loans (the "Purchase Price for each Mortgage Loan Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided The Purchase Price may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date due date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Reconstituted Servicing Agreement (Structured Asset Mortgage Investments Inc), Letter Agreement (Greenwich Capital Acceptance Inc)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment the adjustments as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, Balance of the Mortgage Loans listed on included in the related Mortgage Loan Schedule or Package. Notwithstanding the UBS Websiteforegoing, after application of scheduled payments of principal due on or before if a Mortgage Loan prepays in full between the applicable related Cut-off Date and the related Closing Date, whether inclusive, the Seller shall either remove such Mortgage Loan from the Mortgage Loan Schedule or reimburse the Purchaser for the premium over par (if any) which the Purchaser paid within five (5) days of the related Closing Date. In addition, Purchaser will not collected. If so provided purchase any Mortgage Loan that has not made a payment as of the date set forth in the related Purchase Price and Terms Letter or the UBS Website, portions Agreement. The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of such Mortgage Loans, so computed as of the related Cut-off Date. On each Closing Date, the Purchaser shall deduct from the Purchase Price proceeds certain costs and expenses set forth in Article XIII or in the related Purchase Price and Terms Agreement, if applicable. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closingon the related Closing Date, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date the date interest was last received on the related Mortgage Loan through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available federal funds. The Purchaser shall be entitled to (1i) all scheduled principal due received after the applicable related Cut-off Date, (2ii) all other recoveries of principal late charges, assumption fees or other charges collected on or after such the related Cut-off Date (providedDate, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)extent any such charges are not Ancillary Income, and (3iii) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to at the period prior to the applicable Cut-off Date)Mortgage Interest Rate. The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due received on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that . All payments of scheduled principal and interest prepaid for a Due Date beyond (minus interest at the applicable Servicing Fee Rate) due on the first day of the month after the related Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller belong to the Purchaser.

Appears in 2 contracts

Samples: Reconstituted Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-10), Execution (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteConfirmation, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at its Net Mortgage Interest Rate less the weighted average Mortgage Loan Remittance Servicing Fee Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 2 contracts

Samples: Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-10), Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-6)

Purchase Price. The purchase price for the Mortgage Loans (the "Purchase Price for each Mortgage Loan Price") shall be the percentage of par as stated set forth in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website., portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, plus accrued interest on each Mortgage, at its respective Mortgage Interest Rate from the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through to and including, the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pass-THR Certs Ser 2004-Gel1), Reconstituted Servicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel3)

Purchase Price. The Purchase Price Price” for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteTerm Sheet, multiplied by the aggregate Stated Principal Balance, as of the applicable related Cut-off Date, of the Mortgage Loans Loan listed on the related Mortgage Loan Schedule or attached to the UBS Websiterelated Term Sheet, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCompany, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of each Mortgage Loan from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller Company or any successor servicer after such the related Cut-off Date shall belong to the SellerCompany), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller Company shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller Company to the Purchaser.. Section 2.03 [Reserved]

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust 2007-3), Warranties and Servicing Agreement (Prime Mortgage Trust 2007-1)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. Further, the Seller shall pay to the Purchaser the costs and fees expected to be associated with the recording of an Assignment with respect to each Mortgage Loan (such amount may be set forth in the related Purchase Price and Terms Letter.) The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Warranties and Servicing Agreement (STARM Mortgage Loan Trust 2007-S1), Purchase, Warranties and Servicing Agreement (MASTR Asset Securitization Trust 2007-2)

Purchase Price. The Purchase Price for each the Mortgage Loans in a Mortgage Loan Package shall be equal to the sum of (a) the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Scheduled Principal Balance, Balance of Mortgage Loans as of the applicable related Cut-off Date, of the Mortgage Loans Date listed on the related Mortgage Loan Schedule or plus (b) accrued interest on the UBS Website, after application aggregate Scheduled Principal Balance as of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or Date of the related Mortgage Loans at the weighted average Mortgage Loan Remittance Rate of such Mortgage Loans from the related Cut-off Date to but not collectedincluding such Closing Date (the "Purchase Price"). If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the each Mortgage Loans Loan Package shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall be entitled to (1) the principal portion of all scheduled principal Monthly Payments due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that the principal portion of all scheduled payments of principal Monthly Payments due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the related Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Scheduled Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid Monthly Payments for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts Monthly Payments shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts Monthly Payments into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Servicing Agreement (GSAA Home Equity Trust 2006-14), Mortgage Loan Sale and Servicing Agreement (GSAA Home Equity Trust 2006-16)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Commitment Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteCommitment Letter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at its Mortgage Interest Rate, net of the weighted average Mortgage Loan Remittance Rate Servicing Fee, from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable Cut-related Cut off Date, (2) all other recoveries of principal collected on or after such Cut-the related Cut off Date (provided, however, that all scheduled payments of principal due on or before such Cut-the related Cut off Date and collected by the Seller or any successor servicer after such Cut-the related Cut off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee during the Preliminary Servicing Period (minus that portion of any such interest payment which that is allocable to the period prior to the applicable Cut-related Cut off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable Cut-related Cut off Date is determined after application to the reduction of principal of payments of principal due on or before such Cut-the related Cut off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-related Cut off Date shall not be applied to the principal balance as of such Cut-the related Cut off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut off Date shall belong to the Purchaser.

Appears in 2 contracts

Samples: Assumption and Recognition Agreement (HSI Asset Loan Obligation Trust 2007-Ar1), Assumption and Recognition Agreement (HSI Asset Loan Obligation Trust 2006-2)

Purchase Price. The purchase price for the Mortgage Loans (the “Purchase Price for each Mortgage Loan Price”) shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided The Purchase Price may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date due date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Letter Agreement (Thornburg Mortgage Securities Trust 2005-4), Letter Agreement (Greenwich Capital Acceptance Inc)

Purchase Price. The Purchase Price purchase price for each Mortgage Loan Package (the "Purchase Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balancescheduled principal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on in the related Mortgage Loan Schedule or the UBS WebsitePackage, after application of scheduled payments of principal for such related Loan Package due on or before the applicable such Cut-off Date, Date whether or not collected. If so provided The Purchase Price for a Loan Package may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described abovePrice, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance aggregate scheduled principal amount of the respective pool of related Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate for each Loan Package from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in With respect to each Loan Package, the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 2 contracts

Samples: Master Mortgage Loan Purchase Agreement (Banc of America Funding 2006-2 Trust), Master Mortgage Loan Purchase Agreement (Banc of America Funding 2006-3 Trust)

Purchase Price. The Purchase Price purchase price for each of the Pool 1 Mortgage Loan Loans, Pool 2 Mortgage Loans and Pool 3 Mortgage Loans (the "Purchase Price") shall be the related percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteLetter, multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteClosing Schedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance aggregate principal amount of the respective pool of Mortgage Loans, Loans as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer under the Seller's Warranties and Servicing Agreement after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date due date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established under the Seller's Warranties and Servicing Agreement for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 1999 1)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par Purchase Price Percentage as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, as of the applicable related Cut-off Date, of the Mortgage Loans Loan listed on the related Mortgage Loan Schedule or the UBS Websiteattached as Exhibit I, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCompany, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of each Mortgage Loan from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller Company or any successor servicer after such the related Cut-off Date shall belong to the SellerCompany), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller Company shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller Company to the Purchaser.

Appears in 1 contract

Samples: Recognition Agreement (Bear Stearns ALT-A Trust 2006-1)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Commitment Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteCommitment Letter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average its Mortgage Loan Remittance Interest Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in , less the preceding paragraph shall be paid Servicing Fee, pro rated on the applicable Closing Date by wire transfer basis of immediately available fundsa 30-day month. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1a) all scheduled principal due after the applicable Cut-off Date, (2b) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by Seller after the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3c) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to Purchaser on the first Remittance Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the Cut-off Date shall belong to Purchaser.. ARTICLE V

Appears in 1 contract

Samples: Master Mortgage Loan Purchase and Servicing Agreement (Sequoia Mortgage Trust 2010-H1)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteLoans, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collectedto the extent such payments were actually received. The initial principal amount of the Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the Cut-off Date as set forth on the Mortgage Loan Schedule. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of related Mortgage Loans, Loans which are less than 60 days delinquent as of the applicable Cut-off Date at the weighted average Net Mortgage Loan Remittance Interest Rate of those Mortgage Loans from such the Cut-off Date through the day prior to the related Closing Date, inclusive; provided, however, the total amount of accrued interest shall not exceed 59 days' interest. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1l) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not Date, to the extent actually collected, together with any unscheduled principal prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to the Cut-off Date, but to be applied on a Due Date due date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit cause any such prepaid amounts into to be remitted to the Custodial Account, which account is established for the benefit of the Purchaser Interim Servicer for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Warranties Agreement (Gs Mortgage Sec Corp Mortgage Pass THR Certs Ser 2003-Sea)

Purchase Price. The purchase price for tile Mortgage Loans (the “Purchase Price for each Mortgage Loan Price”) shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the tile aggregate Stated Principal Balanceprincipal balance, as of the applicable tile Cut-off Date, of the Mortgage Loans listed on the tile related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided The Purchase Price may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the tile Seller, at closing, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date due date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Letter Agreement (Thornburg Mortgage Securities Trust 2005-4)

Purchase Price. The Purchase Price In consideration for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website, multiplied by the aggregate Stated Principal Balance, as sale of the applicable Cut-off Date, of the Mortgage Loans listed Servicing on the related Mortgage Loan Schedule or Sale Date and upon the UBS Website, after application terms and conditions of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described abovethis Agreement, the Purchaser shall pay to the Seller, at closing, accrued interest on Purchase Price less the current Stated Principal Balance Deposit which it paid in accordance with the Sale Procedures. The purchase price for the Servicing shall be 0.77% of the respective pool unpaid principal balance of the Mortgage Loans, Loans as of the applicable close of business on the Sale Date plus all of the Accounts Receivable due to the Seller (the “Purchase Price”). For purposes of payment of the Purchase Price on the Sale Date, the calculation of the Purchase Price and the Accounts Receivable shall be determined as of the Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior Date. Subject to the related Closing Date, inclusive. The Purchase Price plus accrued interest adjustment as set forth in the preceding paragraph following paragraph, such payment shall be paid made by the Purchaser on the applicable Closing Sale Date by wire transfer of immediately available fundsfunds to the account designated by the Seller. On or prior to the Reconciliation Date, the Seller will determine the actual unpaid principal balance of the Mortgage Loans and the amount of the Accounts Receivable as of the close of business on the Sale Date, and deliver that information to the Purchaser. The Purchaser Purchase Price [and the amount of the Accounts Receivable reimbursement] shall be entitled adjusted to (1) all scheduled reflect any change in the principal due after balance of the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such Mortgage Loans and the Accounts Receivable compared to the Cut-off Date (providedbalances. In the event that the Purchase Price calculated on the Reconciliation Date is greater than the Purchase Price calculated on the Sale Date, howeverthe Purchaser, that all scheduled payments on the Business Day following the Reconciliation Date, shall pay by wire transfer of principal due immediately available funds to the Seller the difference between the Purchase Price paid on or before such Cut-off the Sale Date and collected the Purchase Price calculated on the Reconciliation Date. In the event that the Purchase Price calculated on the Reconciliation Date is less than the Purchase Price paid on the Sale Date, the Seller shall deliver to the Purchaser on the Business Day following the Reconciliation Date by wire transfer of immediately available funds the difference between the Purchase Price paid by the Seller or any successor servicer after such Cut-off Date shall belong to and the Seller), and (3) all payments of interest Purchase Price calculated on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Reconciliation Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Servicing Purchase Agreement (TMST, Inc.)

Purchase Price. The purchase price for the Mortgage Loans (the "Purchase Price for each Mortgage Loan Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balancescheduled principal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedules, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided The Purchase Price may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance aggregate scheduled principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Lehman XS Trust Series 2006-10n)

Purchase Price. The Purchase Price for each the Mortgage Loans in a Mortgage Loan Package shall be equal to the sum of (a) the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Scheduled Principal Balance, as Balance of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or plus (b) accrued interest on the UBS Website, after application aggregate Scheduled Principal Balance of scheduled payments the Mortgage Loans at the weighted average Mortgage Interest Rate of principal due on or before such Mortgage Loans from the applicable Cut-off Date, whether or Date to but not collectedincluding such Closing Date (the "Purchase Price"). If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall be entitled to (1) the principal portion of all scheduled principal Monthly Payments due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such Cut-the Cut- off Date (provided, however, that the principal portion of all scheduled payments of principal Monthly Payments due on or before such the Cut-off Date and collected by the Seller Servicer or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance Scheduled Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid Monthly Payments for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts Monthly Payments shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts Monthly Payments into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Servicing Agreement (E Loan Inc)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteConfirmation, portions of the certain Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average its Net Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal and any Prepayment Charges collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Net Mortgage Rate (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee and any LPMI Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Master Mortgage Loan Purchase and Servicing Agreement (HarborView 2007-7)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteConfirmation, portions certain of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average its Net Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Net Mortgage Rate (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Sequoia Mortgage Trust 2007-2)

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Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, its principal balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, Date after application of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or not collectedbut only to the extent such payments were actually received. The initial principal amount of the related Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of related Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date through the day prior to the related Closing Date, inclusiveof those Mortgage Loans. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The With respect to each Mortgage Loan purchased, the Purchaser shall own and be entitled to receive: (1a) all scheduled principal due after the applicable related Cut-off Date, (2b) all other payments and/or recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer Servicer after such the related Cut-off Date shall belong to the Seller), and (3c) all payments of interest on the Mortgage Loans Loans, net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance For the purposes of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collectedthis Agreement, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to reduce the principal balance Stated Principal Balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall remit to the Servicer for deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller Servicer to the Purchaser on the appropriate Remittance Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter Confirmation, the Loans or the UBS Website, portions of the Mortgage Loans in each Loan Package shall be priced separately. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, each Loan as of the applicable related Cut-off Date at the weighted average Mortgage its Net Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as both inclusive and (ii) the Seller shall pay to the Initial Purchaser the costs and fees expected to be associated with the recording of an Assignment of Mortgage with respect to each Loan (such amount may be set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available fundsrelated Confirmation). The Purchaser shall own and be entitled to receive with respect to each Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable (Fee minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Master Loan Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2007-1)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website, multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition equal to (a) the Purchase Price as described above, Percentage multiplied by the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Balance, plus (b) accrued and unpaid interest on such principal balance at the weighted average Mortgage Loan Remittance Interest Rate (net of the Servicing Fee) of those Mortgage Loans from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. For purposes hereof, "Cut-off Date Balance" means the aggregate principal balance, as of the related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule, after application of scheduled payments of principal due on or before the related Cut-off Date, to the extent such payments were actually received, together with any unscheduled principal payments collected prior to the Cut-off Date; provided, however, that payments of scheduled principal and interest paid prior to the Cut-off Date, but to be applied on a due date beyond the related Cut-off Date, shall not be applied to the principal balance as of the related Cut-off Date. If so provided in the related Purchase Price and Terms Agreement, portions of the Mortgage Loans shall be priced separately. The Purchase Price plus accrued interest as set forth in the preceding paragraph so determined shall be paid to the Seller on the applicable related Closing Date by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1l) all scheduled principal due paid after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not Date, to the extent actually collected, together with any unscheduled principal prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to the Cut-off Date, but to be applied on a Due Date due date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Assignment and Recognition Agreement (Morgan Stanley ABS Capital I Inc. IXIS Real Estate Capital Trust 2007-He1)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website, multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule shall be $[__________,] or in such other amount as agreed by the UBS WebsitePurchaser and the Seller as evidenced by the actual aggregate principal balance of the Mortgage Loans accepted by the Purchaser on the Closing Date. The initial principal amount of the Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the Cut-off Date, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of related Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Interest Rate of those Mortgage Loans, minus any amounts attributable to Servicing Fees as provided in the Servicing Agreement from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1l) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by after the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable collected on or after the Cut-off Date (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any Any such prepaid amounts shall be deposited into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Purchase and Warranties Agreement (D&n Capital Corp)

Purchase Price. The Purchase Price for each the Mortgage Loans in a Mortgage Loan Package shall be equal to the sum of (a) the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Scheduled Principal Balance, Balance of Mortgage Loans as of the applicable related Cut-off Date, of the Mortgage Loans Date listed on the related Mortgage Loan Schedule or plus (b) accrued interest on the UBS Website, after application aggregate Scheduled Principal Balance as of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or Date of the related Mortgage Loans at the weighted average Mortgage Loan Remittance Rate of such Mortgage Loans from the related Cut-off Date to but not collectedincluding such Closing Date (the “Purchase Price”). If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the each Mortgage Loans Loan Package shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall own and be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the related Mortgage Loan Remittance Rate (minus that portion of any such interest payment which is allocable to the period prior to the applicable related Cut-off Date)) and (4) all Prepayment Penalties on the Mortgage Loans collected after the Cut-off Date. The outstanding principal balance Scheduled Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collectedcollected Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Remittance Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-6)

Purchase Price. The Purchase Price for each Mortgage Loan shall be On the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website, multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Closing Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to Company for the Seller, at closing, accrued interest on Mortgage Loans the current sum of (i) the Stated Principal Balance of the respective pool of Mortgage Loans multiplied by the Purchase Price Percentage, plus (ii) an amount equal to accrued interest on the Mortgage Loans at the Mortgage Interest Rate, from and including the Cut-Off Date through and including the day before the Closing Date. The payment by Purchaser shall be made by wire transfer before 4:00pm, Eastern Time, in immediately available funds to an account designated by Company. If any miscalculation is reflected in the purchase price for the Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate party benefiting from such Cut-off Date through error shall pay an amount sufficient to correct the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available fundserror. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer Company after such the Cut-off Date shall belong to the SellerCompany), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such interest payment which that is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance Unpaid Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller All payments of principal and interest due on a Due Date following the Cut-off Date shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller belong to the Purchaser.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (MASTR Asset Securitization Trust 2007-1)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off related Cut‑off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collectedSchedule. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Cut‑off Date of the related Mortgage Loans at the weighted average interest rate of those Mortgage Loan Remittance Rate Loans, net of interest at the Servicing Fee Rate, from such Cut-off the related Cut‑off Date through to the day prior to the related Closing Date, inclusive and, with respect to Lender PMI Mortgage Loans, net of the amount of the fee for the related policy, from the related Cut‑off Date to the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1l) all scheduled principal due after the applicable Cut-off related Cut‑off Date, (2) all other recoveries of principal collected on or after such Cut-off the related Cut‑off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off the related Cut‑off Date and collected by the Seller or any successor servicer after such Cut-off the related Cut‑off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable interest at the Servicing Fees and LPMI Rates, if applicable Fee Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off related Cut‑off Date)) and, with respect to Lender PMI Mortgage Loans, net of the amount of the fee for the related policy. The outstanding unpaid principal balance of each Mortgage Loan as of the applicable Cut-off related Cut‑off Date is determined after application of payments of principal due on or before such Cut-off the related Cut‑off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date due date beyond the applicable Cut-off related Cut‑off Date shall not be applied to the principal balance as of such Cut-off the related Cut‑off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. All payments of principal and interest, less interest at the Servicing Fee Rate, due on the first day of the month after the related Cut‑off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Master Mortgage Loan Purchase and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar1)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteConfirmation, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at its Mortgage Interest Rate, net of the weighted average Mortgage Loan Remittance Rate Servicing Fee, from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal and any Prepayment Charges (unless otherwise specified in the related Confirmation) collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of interest and principal due on or before such the related Cut-off Date and collected by the Seller Purchaser or any successor servicer Servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Net Mortgage Rate (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller Servicer shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Servicer to the Purchaser on the first related Distribution Date. All payments of principal and interest, whenever received, relating to a Due Date prior to the related Cut-off Date shall belong to the Seller and all payments of principal and interest less the applicable Servicing Fee, or any Monthly Advance or Servicing Advance, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Assumption and Recognition Agreement (HSI Asset Loan Obligation Trust 2007-Ar1)

Purchase Price. The Purchase Price for each the Mortgage Loans in a Mortgage Loan Package shall be equal to the sum of (a) the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Scheduled Principal Balance, Balance of Mortgage Loans as of the applicable related Cut-off Date, of the Mortgage Loans Date listed on the related Mortgage Loan Schedule or plus (b) accrued interest on the UBS Website, after application aggregate Scheduled Principal Balance of scheduled payments the related Mortgage Loans at the weighted average Mortgage Loan Remittance Rate of principal due on or before such Mortgage Loans from the applicable related Cut-off Date, whether or Date to but not collectedincluding such Closing Date (the "Purchase Price"). If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall be entitled to (1) the principal portion of all scheduled principal Monthly Payments due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that the principal portion of all scheduled payments of principal Monthly Payments due on or before such the related Cut-off Date and collected by the Seller Servicer or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest at the Mortgage Loan Remittance Rate on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Scheduled Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid Monthly Payments for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts Monthly Payments shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts Monthly Payments into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Custodial Agreement (SunTrust Alternative Loan Trust, Series 2005-1f)

Purchase Price. The Purchase Price for each Mortgage Loan in the Mortgage Loan Package shall be the percentage of par as stated in the related Purchase Price and Terms Letter Term Sheet (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of the Mortgage Loans from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. If a Mortgage Loan prepays in full between the a Cut-off Date and the related Closing Date, inclusive, the Seller shall either remove such Mortgage Loan from the Mortgage Loan Schedule or if the Mortgage Loan Schedule has been finalized, reimburse the Purchaser for the premium over par which the Purchaser paid within 5 business days of request by the Purchaser; provided, however, such request shall not be later than 60 days after the related Closing Date. If, subsequent to a Closing Date, the amount on which the Purchase Price with respect to a Mortgage Loan was based is found to be in error, or if, for any other reason, the Purchase Price or such other amounts are found to be in error, within ten (10) Business Days of the receipt of information sufficient to provide notice that payment is due the party benefiting from the error shall pay an amount sufficient to correct and reconcile the Purchase Price plus interest thereon at an agreed upon market rate or such other amounts and shall provide a reconciliation statement and such other documentation sufficient reasonably to satisfy the other party concerning the accuracy of such reconciliation.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-A1)

Purchase Price. The Purchase Price for each the Mortgage Loan Loans shall be equal to the percentage sum of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided thereini) or the UBS Website, 100.453125% multiplied by the aggregate Stated Scheduled Principal Balance, as Balance of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or Schedule, plus (ii) accrued interest on the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions aggregate Scheduled Principal Balance of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate of such Mortgage Loans from such the Cut-off Date through to but not including such Closing Date (the day prior to the related Closing Date, inclusive“Purchase Price”). The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall be entitled to (1) the principal portion of all scheduled principal Monthly Payments due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that the principal portion of all scheduled payments of principal Monthly Payments due on or before such the Cut-off Date and collected by the Seller Servicer or any successor servicer after such the Cut-off Date shall belong to the Seller), ) and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which that is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance Scheduled Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is shall be determined after application of payments of principal due on or before such the Cut-off Date Date, whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid Monthly Payments for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts Monthly Payments shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts Monthly Payments into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (TBW Mortgage-Backed Trust Series 2006-4)

Purchase Price. The Purchase Price for each the Mortgage Loan Loans shall be equal to the percentage sum of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided thereini) or the UBS Website, [[Ÿ]]% multiplied by the aggregate Stated Scheduled Principal Balance, as Balance of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or Schedule, plus (ii) accrued interest on the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions aggregate Scheduled Principal Balance of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate of such Mortgage Loans from such the Cut-off Date through to but not including such Closing Date (the day prior to the related Closing Date, inclusive“Purchase Price”). The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall be entitled to (1) the principal portion of all scheduled principal Monthly Payments due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that the principal portion of all scheduled payments of principal Monthly Payments due on or before such the Cut-off Date and collected by the Seller Servicer or any successor servicer after such the Cut-off Date shall belong to the Seller), ) and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which that is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance Scheduled Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is shall be determined after application of payments of principal due on or before such the Cut-off Date Date, whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid Monthly Payments for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts Monthly Payments shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts Monthly Payments into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (TBW 2006-2)

Purchase Price. The Purchase Price for each Mortgage Loan in the related Mortgage Loan Package shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteLoans, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or not collectedto the extent such payments were actually received. The initial principal amount of the Mortgage Loans in the related Mortgage Loan Package shall be the aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date as set forth on the related Mortgage Loan Schedule. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of Mortgage Loans, as of Loans in the applicable Cut-off Date related Mortgage Loan Package at the weighted average Mortgage Loan Remittance Interest Rate of those Mortgage Loans from such Cut-off Date the related paid through date through the day date prior to the related Closing Date, inclusive. The Servicing Fee will not be applicable until the Closing Date. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1l) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not Date, to the extent actually collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to the related Cut-off Date, but to be applied on a Due Date due date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit cause any such prepaid amounts into to be remitted to the Custodial Account, which account is established for the benefit of the Purchaser Interim Servicer for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (FFMLT Trust 2005-Ffa)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Commitment Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, Balance as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest up to, but not including, the Closing Date on the current Stated Principal Balance principal amount of the respective pool of Mortgage Loans, Loans as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such of the Mortgage Loans as of the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. If, subsequent to the Closing Date, the amount on which the Purchase Price with respect to a Mortgage Loan was based is found to be in error, or if, for any other reason, the Purchase Price or such other amounts are found to be in error, within ten (10) Business Days of the receipt of information sufficient to provide notice that payment is due the party benefitting from the error shall pay an amount sufficient to correct and reconcile the Purchase Price (plus interest thereon in the case of overpayment by Purchaser) or such other amounts and shall provide a reconciliation statement and such other documentation sufficient reasonably to satisfy the other party concerning the accuracy of such reconciliation.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2000-1)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, as of the applicable related Cut-off Date, of the Mortgage Loans Loan listed on the related Mortgage Loan Schedule or attached to the UBS Websiterelated Term Sheet, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above.above, the Purchaser shall pay to the SellerCompany, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of each Mortgage Loan from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller Company or any successor servicer after such the related Cut-off Date shall belong to the SellerCompany), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller Company shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller Company to the Purchaser.

Appears in 1 contract

Samples: Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2006-Ac2)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collectedSchedule. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCHL, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date of the related Mortgage Loans at the weighted average Mortgage Loan Remittance Interest Rate of those Mortgage Loans, net of interest at the Servicing Fee Rate, from such the Cut-off Date through to the day prior to the Closing Date, inclusive and, with respect to Lender PMI Mortgage Loans (other than Radian Policy Mortgage Loans), net of the amount of the fee for the related policy, from the Cut-off Date to the day prior to the Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due on and after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by CHL after the Seller or any successor servicer after such Cut-off Date shall belong to the SellerCHL), and (3) all payments of interest on the Mortgage Loans net of applicable interest at the Servicing Fees and LPMI Rates, if applicable Fee Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date)) and, with respect to Lender PMI Mortgage Loans, net of the amount of the fee for the policy. The outstanding unpaid principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal Minimum Monthly Payments due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date due date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at (i) the Servicing Fee Rate and (ii) the premium rate payable by the Servicer under any Lender PMI Mortgage Loans) shall be the property of the Purchaser. The Seller CHL shall deposit any such prepaid amounts into the Custodial Servicing Account, which account is established for the benefit of the Purchaser for subsequent remittance by CHL to the Seller Purchaser. All payments of principal and interest, less interest at the Servicing Fee Rate and the premium rate payable by the Servicer under any Lender PMI Mortgage Loans, due on the first day of the month after the Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Servicing Agreement (Harborview Mortgage Loan Trust 2006-Cb1)

Purchase Price. The Purchase Price for each Mortgage Loan and the related Servicing Rights shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceactual unpaid principal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or not collectedbut only to the extent such payments were actually received. The initial principal amount of the related Mortgage Loans shall be the aggregate actual unpaid principal balance of the Mortgage -15- Loans, so computed as of the related Cut-off Date. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans and/or the Servicing Rights shall be priced and paid for separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest from the last “interest paid to” date through the day immediately preceding the related Closing Date, inclusive, on the current Stated Principal Balance aggregate actual unpaid principal amount of the respective pool of related Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date through the day prior to the related Closing Date, inclusiveof those Mortgage Loans. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not Date, to the extent actually collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to such Cut-off date, but to be applied on a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. SECTION 5.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Warranties Agreement

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Commitment Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable Cut-off related Closing Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteCommitment Letter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He1)

Purchase Price. The purchase price for the Mortgage Loans (the "Purchase Price for each Mortgage Loan Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balancescheduled principal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest may be adjusted as set forth stated in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available fundsCommitment Letter. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Series 2004-3)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance. The initial principal amount of the related Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of related Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate of those Mortgage Loans from such Cut-off Date the related date on which interest was last paid through the day prior to the related applicable Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable during the period that the Interim Servicer is servicing the Mortgage Loans (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not Date, to the extent actually collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for paid prior to such Cut-off date, but to be applied on a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He7)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related attached Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of the Mortgage Loans, so computed as of the Cut-off Date. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of Mortgage Loans, Loans as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Rate from such Cut-off Date through of the day prior to the related Closing Date, inclusiveMortgage Loans. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. If, subsequent to the Closing Date, the amount on which the Purchase Price with respect to a Mortgage Loan was based is found to be in error, or if, for any other reason, the Purchase Price or such other amounts are found to be in error, within ten (10) Business Days of the receipt of information sufficient to provide notice that payment is due the party benefiting from the error shall pay an amount sufficient to correct and reconcile the Purchase Price plus interest thereon at an agreed upon market rate or such other amounts and shall provide a reconciliation statement and such other documentation sufficient reasonably to satisfy the other party concerning the accuracy of such reconciliation.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Structured Asset Sec Mort Pass Thru Cert Ser 2002-22h)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balancescheduled principal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteClosing Schedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued but unpaid interest on the current Stated Principal Balance principal balance of the respective pool of Mortgage Loans, Loans as of the applicable Cut-off Date at a rate equal to the weighted average Mortgage Loan Remittance Interest Rate minus the Servicing Fee Rate (as defined in the Servicing Agreement), from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account or accounts designated by the Seller in writing. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date)) and (4) all other recoveries of late charges, assumption fees, prepayment penalties or other charges collected after the Cut-off Date. The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date due date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gs Mortgage Sec Corp Mort Pass THR Certs Ser 2003-He2)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or not collectedbut only to the extent such payments were actually received. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, with respect to any Mortgage Loans which are less than 30 days delinquent as of the Cut-off Date, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of related Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date through the day prior of those Mortgage Loans; provided, that, Purchaser shall not pay more than 30 days’ interest with respect to the related Closing Date, inclusiveany Mortgage Loan. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall not reimburse the Seller for any corporate advances, servicing advances or escrow advances outstanding prior to the related Closing Date. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (32) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date)Loans. The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due received on or before such the related Cut-off Date whether or not collectedDate, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Five Oaks Investment Corp.)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, whether or not collectedbut only to the extent such payments were actually received. The initial principal amount of the related Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of Mortgage Loans, Loans as of the applicable Cut-off related Closing Date at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date through of the day prior to the related Closing Date, inclusiveMortgage Loans. The Purchase Price plus accrued interest as set forth in the preceding paragraph this Section 4.01 shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall not reimburse the Seller for any corporate advances, servicing advances or escrow payments outstanding prior to the related Closing Date. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (32) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to accrued on or after the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off related Closing Date is determined after application of payments of principal due received on or before such the related Cut-off Date whether or not collectedDate, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Sequoia Mortgage Trust 2013-1)

Purchase Price. The Purchase Price for each the Mortgage Loans in a Mortgage Loan Package shall be equal to the sum of (a) the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Scheduled Principal Balance, Balance of Mortgage Loans as of the applicable related Cut-off Date, of the Mortgage Loans Date listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, plus (b) accrued interest on the current Stated aggregate Scheduled Principal Balance of the respective pool of related Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of such Mortgage Loans from such and including the related Cut-off Date through to but not including such Closing Date (the day prior to "Purchase Price"). If so provided in the related Closing DatePurchase Price and Terms Letter, inclusiveportions of each Mortgage Loan Package shall be priced separately. The Purchase Price plus accrued interest as set forth in the preceding paragraph for the Mortgage Loans in a Mortgage Loan Package shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The With respect to each Mortgage Loan, the Purchaser shall be entitled to (1) the principal portion of all scheduled principal Monthly Payments due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that the principal portion of all scheduled payments of principal Monthly Payments due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the related Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Scheduled Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the USActive 7452067.1 related Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid Monthly Payments for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts Monthly Payments shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts Monthly Payments into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Assignment Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, as of the applicable related Cut-off Date, of the Mortgage Loans Loan listed on the related Mortgage Loan Schedule or attached to the UBS Websiterelated Term Sheet, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCompany, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of each Mortgage Loan from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller Servicer or any successor servicer after such the related Cut-off Date shall belong to the SellerCompany), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller Servicer shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller Servicer to the Purchaser.

Appears in 1 contract

Samples: Purchase, Warranties and Servicing Agreement (Homebanc Corp)

Purchase Price. The Purchase Price for each Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in or otherwise calculated pursuant to the related Purchase Price and Terms Letter Trade Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteTrade Confirmation, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCompany, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in With respect to each Mortgage Loan (other than Option ARM Mortgage Loans) purchased, the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive: (1a) the principal portion of all scheduled principal Monthly Payments due (or received in the case of the Option ARM Mortgage Loans) after the applicable Cut-off Date, Date and (2b) all other payments and/or recoveries of principal collected on or after such the applicable Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the applicable Cut-off Date and collected by the Seller or any successor servicer Servicer after such the applicable Cut-off Date shall shall, except in the case of the Option ARM Mortgage Loans, belong to the Seller), Company) and (3c) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which that is allocable to the period prior to the applicable related Cut-off Date)) and (4) all Prepayment Premiums. The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, collected together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; , provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate and any LPMI Fee Rate, if applicable) shall be the property of the Purchaser. The Seller Company shall deposit any such prepaid amounts into the Custodial Account, which account is established Account for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Master Bulk Sale and Servicing Agreement (Banc of America Funding Corp)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the such Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteLoan, after application of scheduled payments of principal due received on or before the applicable Cut-off Date. The initial principal amount of the Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, whether or not collectedso computed as of the Cut-off Date. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteAgreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued but unpaid interest on the current Stated Principal Balance principal balance of the respective pool of Mortgage Loans, Loans as of the applicable Cut-off Date at the weighted average Mortgage Interest Rate, from the date through which interest on the Mortgage Loan Remittance Rate from such Cuthas been paid through (the "Paid-off Date Through Date") through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on to the applicable Closing Date Seller by wire transfer of immediately available fundsfunds to an account designated by the Seller in writing. The Purchaser shall be entitled to (1) all scheduled principal due received after the applicable Cut-off Date, (2) all other recoveries of principal late charges, assumption fees, prepayment penalties or other charges collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to at the period prior to the applicable Cut-off Date)Mortgage Interest Rate. The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due received on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Warranties Agreement (Gs Mortgage Sec Corp Mortgage Pass THR Certs Ser 2003-Sea)

Purchase Price. (a) The Purchase Price for each Servicing Retained Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteConfirmation, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Servicing Retained Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average its Net Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Servicing Retained Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Servicing Retained Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Servicing Retained Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller Servicer shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller Servicer to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-10)

Purchase Price. The "Purchase Price Price" for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteTerm Sheet, multiplied by the aggregate Stated Principal Balance, as of the applicable related Cut-off Date, of the Mortgage Loans Loan listed on the related Mortgage Loan Schedule or attached to the UBS Websiterelated Term Sheet, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCompany, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of each Mortgage Loan from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller Company or any successor servicer after such the related Cut-off Date shall belong to the SellerCompany), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller Company shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller Company to the Purchaser.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-7)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment the adjustments as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due received on or before the applicable related Cut-off Date. Notwithstanding the foregoing, whether if a Mortgage Loan prepays in full between the related Cut-off Date and the related Closing Date, inclusive, the Company shall either remove such Mortgage Loan from the Mortgage Loan Schedule or reimburse the Purchaser for the premium over par (if any) which the Purchaser paid within three (3) days of the related Closing Date. In addition, Purchaser will not collected. If so provided purchase any Mortgage Loan that has not made a payment as of the date set forth in the related Purchase Price and Terms Letter or the UBS Website, portions Letter. The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of such Mortgage Loans, so computed as of the related Cut-off Date. On each Closing Date, the Purchaser shall deduct from the Purchase Price proceeds certain costs and expenses set forth in Article XIII or in the related Purchase Price and Terms Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCompany, at closingon the related Closing Date, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available federal funds. The Purchaser shall be entitled to (1i) all scheduled principal due received after the applicable related Cut-off Date, (2ii) all other recoveries of principal late charges, assumption fees or other charges collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3iii) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to at the period prior to the applicable Cut-off Date)Mortgage Interest Rate. The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due received on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that . All payments of scheduled principal and interest prepaid for a Due Date beyond (minus interest at the applicable Servicing Fee Rate) due on the first day of the month after the related Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller belong to the Purchaser.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman Mortgage Trust 2007-5)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collectedSchedule. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date of the related Mortgage Loans at the weighted average interest rate of those Mortgage Loan Remittance Rate Loans, net of interest at the Servicing Fee Rate, from such the related Cut-off Date through to the day prior to the related Closing Date, inclusive and, with respect to Lender PMI Mortgage Loans, net of the amount of the fee for the related policy, from the related Cut-off Date to the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1l) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable interest at the Servicing Fees and LPMI Rates, if applicable Fee Rate (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date)) and, with respect to Lender PMI Mortgage Loans, net of the amount of the fee for the related policy. The outstanding unpaid principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date due date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. All payments of principal and interest, less interest at the Servicing Fee Rate, due on the first day of the month after the related Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Master Mortgage Loan Purchase and Servicing Agreement

Purchase Price. (a) The Purchase Price for each Servicing Retained Mortgage Loan listed on the related Mortgage Loan Schedule shall be the percentage of par as stated in the related Purchase Price and Terms Letter Confirmation (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate its Stated Principal Balance, Balance as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteConfirmation, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance of the respective pool of each Servicing Retained Mortgage Loans, Loan as of the applicable related Cut-off Date at the weighted average its Net Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, both inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall own and be entitled to receive with respect to each Servicing Retained Mortgage Loan purchased, (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Servicing Retained Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable related Cut-off Date). The outstanding principal balance Stated Principal Balance of each Servicing Retained Mortgage Loan as of the applicable related Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; providedfor the purposes of this Agreement, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to the Purchaser on the first related Distribution Date. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the related Cut-off Date shall belong to the Purchaser.

Appears in 1 contract

Samples: Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-6)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter Agreement (subject to adjustment the adjustments as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due received on or before the applicable related Cut-off Date. Notwithstanding the foregoing, whether if a Mortgage Loan prepays in full between the related Cut-off Date and the related Closing Date, inclusive, the Company shall either remove such Mortgage Loan from the Mortgage Loan Schedule or reimburse the Purchaser for the premium over par (if any) which the Purchaser paid within three (3) days of the related Closing Date. In addition, Purchaser will not collected. If so provided purchase any Mortgage Loan that has not made a payment as of the date set forth in the related Purchase Price and Terms Letter or the UBS Website, portions Agreement. The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of such Mortgage Loans, so computed as of the related Cut-off Date. On each Closing Date, the Purchaser shall deduct from the Purchase Price proceeds certain costs and expenses set forth in Article XIII or in the related Purchase Price and Terms Agreement. In addition to the Purchase Price as described above, the Purchaser shall pay to the SellerCompany, at closingon the related Closing Date, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the related Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable related Closing Date by wire transfer of immediately available federal funds. The Purchaser shall be entitled to (1i) all scheduled principal due received after the applicable related Cut-off Date, (2ii) all other recoveries of principal late charges, assumption fees or other charges collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller)Date, and (3iii) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to at the period prior to the applicable Cut-off Date)Mortgage Interest Rate. The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due received on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided, however, that . All payments of scheduled principal and interest prepaid for a Due Date beyond (minus interest at the applicable Servicing Fee Rate) due on the first day of the month after the related Cut-off Date shall not be applied to the principal balance as of such Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller belong to the Purchaser.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-23)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS Website, multiplied by the aggregate Stated Principal Balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS Website, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separately. In addition to 100.623925% (the "Purchase Price as described above, Percentage") of the Purchaser shall pay to the Seller, at closing, accrued interest on the current aggregate Stated Principal Balance of the respective pool of Mortgage Loans, as of the applicable Cut-off Date. Purchaser will pay to Seller accrued interest on the Stated Principal Balance of each Mortgage Loan as of the Cut-off Date at the weighted average its Mortgage Loan Remittance Rate from such the Cut-off Date through up to and including the day prior to preceding the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid prorated on the applicable Closing Date by wire transfer basis of immediately available fundsa 360 day year consisting of twelve (12) months of thirty (30) days each. The Purchaser shall own and be entitled to receive with respect to each Mortgage Loan purchased, (1a) all scheduled principal due after the applicable Cut-off Date, (2b) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by Seller after the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3c) all payments of interest on the Mortgage Loans net of applicable the Servicing Fees and LPMI Rates, if applicable Fee (minus that portion of any such interest payment which that is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance Stated Principal Balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before such the Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such the related Cut-off Date; provided. Therefore, howeverfor the purposes of this Agreement, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus the applicable Servicing Fee) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser Purchaser, for subsequent remittance by the Seller to Purchaser on the first Remittance Date such payment is to be applied. All payments of principal and interest, less the applicable Servicing Fee, due on a Due Date following the Cut-off Date shall belong to Purchaser.

Appears in 1 contract

Samples: Servicing Agreement (Prime Mortgage Trust 2005-5)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and arid Terms Letter (subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, whether or not collected. The initial principal amount of the Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the applicable Cut-off Date. If so provided in the related Purchase Price and Terms Letter or the UBS WebsiteLetter, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay pay. to the Seller, ; at closing, accrued interest on the current Stated Principal Balance principal amount of the respective pool of Mortgage Loans, Loans as of the applicable Cut-off Date at the weighted average Mortgage Loan Remittance Interest Rate from such Cut-off Date through of the day prior to the related Closing Date, inclusiveMortgage Loans. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid to Purchaser on the applicable Closing Date by wire transfer of immediately available funds. funds to an account specified in writing by the Purchaser, The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such Cut-off Date (provided, however, that all scheduled payments of principal due on or before such Cut-off Date and collected by the Seller or any successor servicer after such Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such Cut-off Date whether or not collected, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such Cut-off Cutoff Date. , Such prepaid amounts shall be the property of the purchaser, and shall be paid by the Seller to the Purchaser on the Closing Date as an adjustment to the Purchase Price. Record Title and Possession of Mortgage Files As of the applicable Closing Date, the Seller sells, transfers, sets over and conveys the Mortgage Loans to the Purchaser, without recourse, and the Seller hereby acknowledges that the Purchaser shall have subject to the terms of this Agreement, all the right, title and interest of the Seller in and to the Mortgage Loans. The delivery of the Mortgage Files shall be made to the Purchaser or its designee on the applicable Closing Date at the expense of the Seller. From the applicable Closing Date, the ownership of each related Mortgage Loan, including the Mortgage Note, the Mortgage, the contents of the related Mortgage File and all rights, benefits, proceeds and obligations arising therefrom or in connection therewith, shall be vested in the Purchaser- All rights arising out of the Mortgage Loans including, but not limited to, all funds received on or in connection with the Mortgage Loans and all records or documents with respect to the Mortgage Loans prepared by or which come into the possession of the Seller shall deposit any such prepaid amounts into be received and held by the Custodial Account, which account is established Seller in trust for the benefit of the Purchaser for subsequent remittance by as the Seller to owner of the PurchaserMortgage Loans.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Sale Agreement (E Loan Inc)

Purchase Price. The purchase price for the Mortgage Loans (the "Purchase Price for each Mortgage Loan Price") shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule or the UBS WebsiteSchedule, after application of scheduled payments of principal due on or before the applicable Cut-off Date, Date whether or not collected. If so provided The Purchase Price may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance initial principal amount of the respective pool of Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate from such the Cut-off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable Cut-off Date, (2) all other recoveries of principal collected on or after such the Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the Cut-off Date and collected by the Seller or any successor servicer after such the Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off Date). The outstanding principal balance of each Mortgage Loan as of the applicable Cut-off Date is determined after application of payments of principal due on or before such the Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable Cut-off Date shall not be applied to the principal balance as of such the Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman Xs Trust Series 2005-3)

Purchase Price. The Purchase Price purchase price for each Mortgage Loan Package (the “Purchase Price”) shall be the percentage of par as stated in the related Purchase Price and Terms Letter (subject to adjustment as provided therein) or the UBS WebsiteCommitment Letter, multiplied by the aggregate Stated Principal Balancescheduled principal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on in the related Mortgage Loan Schedule or the UBS WebsitePackage, after application of scheduled payments of principal for such related Loan Package due on or before the applicable such Cut-off Date, Date whether or not collected. If so provided The Purchase Price for a Loan Package may be adjusted as stated in the related Purchase Price and Terms Letter or the UBS Website, portions of the Mortgage Loans shall be priced separatelyCommitment Letter. In addition to the Purchase Price as described abovePrice, the Purchaser shall pay to the Seller, at closing, accrued interest on the current Stated Principal Balance aggregate scheduled principal amount of the respective pool of related Mortgage Loans, as of the applicable Cut-off Date Loans at the weighted average Mortgage Loan Remittance Rate for each Loan Package from such Cut-off the related Cutoff Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in With respect to each Loan Package, the preceding paragraph shall be paid on the applicable Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1l) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable at the Mortgage Loan Remittance Rate (minus that portion of any such payment which is allocable to the period prior to the applicable related Cut-off Date)) and (4) all Prepayment Penalties. The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected. Therefore, together with any unscheduled principal prepayments collected prior to such Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts (minus interest at the Servicing Fee Rate) shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser.

Appears in 1 contract

Samples: Mortgage Loan Purchase (GSR Mortgage Loan Trust 2007-Ar2)

Purchase Price. The Purchase Price for each Mortgage Loan shall be the percentage of par as stated defined in the related initial Purchase Price and Terms Letter (subject or the subsequent related Trade Confirmation as the Purchase Price Percentage(subject to adjustment as provided therein) or the UBS Website), multiplied by the aggregate Stated Principal Balanceprincipal balance, as of the applicable related Cut-off Date, of the Mortgage Loans listed on the related in each Mortgage Loan Schedule or the UBS WebsitePackage, after application of scheduled payments of principal due on or before the applicable related Cut-off Date, Date whether or not collected. If so provided in the related Purchase Price and Terms Letter or the UBS Website, portions The initial principal amount of the Mortgage Loans shall be priced separatelythe aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closingon the related Closing Date, accrued interest on the current Stated Principal Balance of the respective pool of Mortgage Loans, Loans as of the applicable related Cut-off Date at the weighted average Mortgage Loan Remittance Rate of the Mortgage Loans from such Cut-the Cut off Date through the day prior to the related Closing Date, inclusive. The Purchase Price plus accrued interest as set forth in the preceding paragraph paragraphs shall be paid on the applicable related Closing Date by wire transfer of immediately available funds. The Purchaser shall be entitled to (1) all scheduled principal due after the applicable related Cut-off Date, (2) all other recoveries of principal collected on or after such the related Cut-off Date (provided, however, that all scheduled payments of principal due on or before such the related Cut-off Date and collected by the Seller or any successor servicer after such the related Cut-off Date shall belong to the Seller), and (3) all payments of interest on the Mortgage Loans net of applicable Servicing Fees and LPMI Rates, if applicable (minus that portion of any such payment which is allocable to the period prior to the applicable Cut-off related Cut­off Date). The outstanding principal balance of each Mortgage Loan as of the applicable related Cut-off Date is determined after application of payments of principal due on or before such the related Cut-off Date whether or not collected, together with any unscheduled principal prepayments Principal Prepayments collected prior to such the related Cut-off Date; provided, however, that payments of scheduled principal and interest prepaid for a Due Date beyond the applicable related Cut-off Date shall not be applied to the principal balance as of such the related Cut-off Date. Such prepaid amounts shall be the property of the Purchaser. The Seller shall deposit any such prepaid amounts into the Custodial Account, which account is established for the benefit of the Purchaser for subsequent remittance by the Seller to the Purchaser. If a Mortgage Loan prepays in full between the Cut-off Date and the Closing Date, inclusive, the Seller shall either remove such Mortgage Loan from the Mortgage Loan Schedule or if the Mortgage Loan Schedule has been finalized, reimburse the Purchaser for the premium over par which the Purchaser paid within 5 business days of request by the Purchaser; provided, however, such request shall not be later than 60 days after the Closing Date. If, subsequent to the related Closing Date, the amount on which the Purchase Price with respect to a Mortgage Loan was based is found to be in error, or if, for any other reason, the Purchase Price or such other amounts are found to be in error, within ten (10) Business Days of the receipt of information sufficient to provide notice that payment is due the party benefiting from the error shall pay an amount sufficient to correct and reconcile the Purchase Price plus interest thereon at an agreed upon market rate or such other amounts and shall provide a reconciliation statement and such other documentation sufficient reasonably to satisfy the other party concerning the accuracy of such reconciliation.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-S1)

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