AUCTION CALL. (a) If neither the Servicer nor the Residual Majority exercises its optional termination right as described in Section 9.01 of the Standard Terms within 90 days after it first becomes entitled to do so, the Trustee shall use commercially reasonable efforts to solicit bids for the purchase of all Assets, REO Properties and Repo Properties remaining in the Trust from no fewer than two prospective purchasers that it believes to be Qualified Bidders. If OAC is then the Servicer of the Assets, the solicitation of bids shall be conditioned upon the continuation of OAC as the servicer of the Assets on terms and conditions substantially similar to those in the Pooling and Servicing Agreement, except that it shall not be required to pay compensating interest or make Advances.
AUCTION CALL. (a) If the Servicer does not exercise its optional termination right as described in Section 9.01 of the Standard Terms within 90 days after it first becomes entitled to do so, the Trustee shall use commercially reasonable efforts to solicit bids for the purchase of all Assets, REO Properties and Repo Properties remaining in the Trust from no fewer than two prospective purchasers that it believes to be Qualified Bidders. If OAC is then the Servicer of the Assets, the solicitation of bids shall be conditioned upon the continuation of OAC as the servicer of the Assets on terms and conditions substantially similar to those in the Pooling and Servicing Agreement, except that it shall not be required to make Advances.
AUCTION CALL. (a) If neither the Servicer nor the Residual Majority exercises its optional termination right as described in Section 9.01 of the Standard Terms within 90 days after it first becomes entitled to do so, the Trustee shall use commercially reasonable efforts to solicit bids for the purchase of all Assets, REO Properties and Repo Properties remaining in the Trust from no fewer than two prospective purchasers that it believes to be Qualified Bidders.
AUCTION CALL. (a) If the Servicer or the holders of a majority in interest of the Class R Certificates does not exercise its optional termination right as described in Section 9.01 of the Standard Terms within 90 days after it first becomes entitled to do so, the Trustee shall use commercially reasonable efforts to solicit bids for the purchase of all Assets, REO Properties and Repo Properties remaining in the Trust from no fewer than two prospective purchasers that it believes to be Qualified Bidders.
AUCTION CALL. Within 90 days of the Auction Sale Bid Date, the Master Servicer will notify the investment banking or whole-loan trading firm selected by the Depositor (such investment bank or trading firm, the "Advisor") who will solicit and will have sole responsibility for soliciting on behalf of the Trust competitive bids for the purchase of the Mortgage Loans then remaining in the Trust for fair market value (such bidders may include the Depositor or any of its affiliates). If satisfactory bids are received as described below, the proceeds of the sale of such assets shall be deposited into the Asset Proceeds Account. The Advisor will solicit, on behalf of the Trust, good-faith bids from no fewer than two prospective purchasers that are considered at the time to be competitive participants in the home loan mortgage market. The Advisor will consult with any securities brokerage houses identified by the Depositor as then making a market in the Certificates to obtain a determination as to whether the fair market value of such assets has been offered. If the highest good-faith bid received by the Advisor from a qualified bidder is, in the judgment of the Advisor, not less than the fair market value of such Mortgage Loans and if such bid is sufficient (i) to reduce the Certificate Principal Balances of the Group I Certificates and Group II Certificates to zero, (ii) to pay the Current Interest Amount and the Interest Carry Forward Amount to the Group I Class A Certificates and the Group II Class A Certificates (and any Class AV-1, Class MV-1, Class MV-2 and Class BV Certificate Carryovers to the Class AV-1, Class MV-1, Class MV-2 and Class BV Certificates), and (iii) the Current Interest Amount and the Interest Carryforward Amount to the Group I Subordinated Certificates and Group II Subordinated Certificates, the Master Servicer, upon the written direction of the Advisor and the Depositor, will, or will direct the Trustee to, sell and assign such Mortgage Loans without representation, warranty or recourse to such highest bidder and will redeem the Certificates; provided, however, the Master Servicer will decline to consummate such sale unless it receives from the Advisor written direction to proceed with such sale and an opinion of counsel addressed to the Master Servicer that such sale will not give rise either to "any prohibited transaction" tax under Section 860F(a)(1) of the Code or to any tax on contribution to the REMIC after the Closing Date under Section 860G(d)(...
AUCTION CALL. (a) If neither the Depositor nor the Servicer exercises its right described in Section 11.01(a)(ii) within 90 days after the Distribution Date on which they are first entitled to do so, the Depositor and the Servicer shall so notify the Trustee, and the Trustee shall use commercially reasonable efforts to solicit bids for the purchase of all Contracts and other property of the Trust Fund from no fewer than two prospective purchasers that it believes to be Qualified Bidders. If AHFSI is then the Servicer, the solicitation of bids shall be conditioned upon its continuing as servicer of the Contracts on terms and conditions substantially similar to those set forth in this Agreement.
AUCTION CALL. The Pool 1 Auction Call or the Pool 2 Auction Call, as applicable. Aurora: Aurora Loan Services Inc., or its successors in interest.
AUCTION CALL. (a) If neither the Servicer nor the Residual Majority exercises its optional termination right as described in Section 9.01 of the Standard Terms within 90 days after it first becomes entitled to do so, the Trustee shall use commercially reasonable efforts to solicit bids for the purchase of all Assets, REO Properties and Repo Properties remaining in the Trust from no fewer than two prospective purchasers that it believes to be Qualified Bidders. If BCI is then the Servicer of the Assets, the solicitation of bids shall be conditioned upon the continuation of BCI as the servicer of
AUCTION CALL. The termination of the Trust Fund created hereunder in connection with the purchase of the Mortgage Loans pursuant to Section 9.01(a).
AUCTION CALL. 89 ARTICLE TWELVE
