Defective Mortgage Loans. If any Mortgage Loan is re-transferred to the Purchaser pursuant to Section 2.03 of the Sale and Servicing Agreement, the Seller shall, at the Purchaser's option, either (a) repurchase such Mortgage Loan at the Repurchase Price, or (b) provide an Eligible Substitute Mortgage Loan if the Seller has any such loans available for sale at the time, subject to the terms and conditions of the Sale and Servicing Agreement.
Defective Mortgage Loans. If any Mortgage Loan is required to be repurchased due to defective or missing documentation pursuant to Section 2.04 of the Pooling and Servicing Agreement, MLCC shall, at its option, either (a) repurchase or cause the applicable seller of such Mortgage Loan to MLCC to repurchase such Mortgage Loan at the Purchase Price, or (b) provide or cause the applicable seller of such Mortgage Loan to MLCC to provide a Replacement Mortgage Loan, subject to the terms and conditions of the Pooling and Servicing Agreement.
Defective Mortgage Loans. If any Mortgage Loan is required to be repurchased due to defective or missing documentation pursuant to Section 2.04 of the Pooling and Servicing Agreement, RWT shall, at its option, either (a) repurchase or cause the applicable seller of such Mortgage Loan to RWT to repurchase such Mortgage Loan at the Purchase Price, or (b) provide or cause the applicable seller of such Mortgage Loan to RWT to provide a Replacement Mortgage Loan, subject to the terms and conditions of the Pooling and Servicing Agreement.
Defective Mortgage Loans. (i) If, after Buyer purchases a Mortgage Loan, Buyer determines or receives notice (whether from Seller or otherwise) that a Purchased Mortgage Loan is (or has become) a Defective Mortgage Loan, Buyer shall promptly notify Seller, and Seller shall repurchase such Purchased Mortgage Loan at the Repurchase Price on the Early Repurchase Date (as such term is defined below).
Defective Mortgage Loans. 3 ARTICLE III Intent of Parties; Security Interest..................................................................3 Section 3.01. Intent of Parties; Security Interest........................................................3
Defective Mortgage Loans. One or more Purchased Mortgage Loans shall be Defective Mortgage Loans and Seller fails to repurchase such Defective Mortgage Loans within one Business Day; or
Defective Mortgage Loans. (i) If, after Administrative Agent purchases a Mortgage Loan, Administrative Agent (as agent and representative of Buyers) determines or receives notice (whether from a Seller or otherwise) that a Purchased Mortgage Loan is (or has become) a Defective Mortgage Loan, Administrative Agent shall promptly notify any Seller, and a Seller shall repurchase such Purchased Mortgage Loan at the Repurchase Price on the Early Repurchase Date (as such term is defined below).
Defective Mortgage Loans. If any Mortgage Loan sold by an Originator hereunder is re-transferred to Purchaser pursuant to Section 2.2(b) of the Sale and Servicing Agreement, the Originator shall, at Purchaser's option, either (a) repurchase such Mortgage Loan at the Loan Purchase Price therefor or (b) substitute in lieu thereof a Qualified Replacement Mortgage (provided that the Originator has any such loans available for sale at the time) and deliver to or upon the order of Purchaser the related Substitution Amount, all in accordance with and subject to the applicable terms and conditions of the Sale and Servicing Agreement.
Defective Mortgage Loans. If any Mortgage Loan is required to be repurchased due to defective or missing documentation pursuant to Section 8.04 of the Indenture, Seller shall, at its option, either (a) repurchase or cause the applicable seller of such Mortgage Loan to Seller to repurchase such Mortgage Loan at the Purchase Price, or (b) provide or cause the applicable seller of such Mortgage Loan to Seller to provide a Replacement Mortgage Loan, subject to the terms and conditions of the Indenture.
