Common use of Delinquent Clause in Contracts

Delinquent. For reporting purposes, a Mortgage Loan is “delinquent” when any payment contractually due thereon has not been made by the close of business on the Due Date therefor. Such Mortgage Loan is “30 days Delinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “60 days Delinquent” and the second immediately succeeding month and “90 days Delinquent” and the third immediately succeeding month.

Delinquent. For reporting purposes, a A Mortgage Loan is “delinquent” when if any payment contractually due thereon has is not been made pursuant to the terms of such Mortgage Loan by the close of business on the Due Date thereforday such payment is scheduled to be due. Such A Mortgage Loan is “30 days Delinquentdelinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “60 days Delinquentdelinquent,” and the second immediately succeeding month and “90 days Delinquentdelinquent” and the third immediately succeeding monthso on.

Delinquent. For reporting purposes, a Mortgage Loan is “delinquentDelinquent” when any payment contractually due thereon has not been made by the close of business on the Due Date therefor. Such Mortgage Loan is “30 days Delinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no not such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “60 days Delinquent” and the second immediately succeeding month and “90 days Delinquent” and the third immediately succeeding month. Depositor: Structured Asset Securities Corporation, or any successor in interest.

Delinquent. For reporting purposes, a Mortgage Loan is considered “delinquent” when any payment contractually due thereon has not been made by the close of business on the Due Date therefor. Such Mortgage Loan is “30 days Delinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “60 days Delinquent” and the second immediately succeeding month and “90 days Delinquent” and the third immediately succeeding month.

Delinquent. For reporting purposes, a Mortgage Loan is “"delinquent” " when any payment contractually due thereon has not been made by the close of business on the Due Date therefor. Such Mortgage Loan is “"30 days Delinquent” " if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “"60 days Delinquent” " and the second immediately succeeding month and “"90 days Delinquent” " and the third immediately succeeding month.

Delinquent. For reporting purposes, a Mortgage Loan is “delinquentDelinquent” when any payment contractually due thereon has not been made by the close of business on the Due Date therefortherefore. Such Mortgage Loan is “30 days Delinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no not such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “60 days Delinquent” and the second immediately succeeding month and “90 days Delinquent” and the third immediately succeeding month.

Delinquent. For reporting purposes, a A Mortgage Loan is “"delinquent” when " if any payment contractually due thereon has is not been made pursuant to the terms of such Mortgage Loan by the close of business on the Due Date thereforday such payment is scheduled to be due. Such A Mortgage Loan is “"30 days Delinquent” delinquent" if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “"60 days Delinquent” and the second immediately succeeding month and “delinquent," "90 days Delinquent” delinquent" and the third immediately succeeding monthso on.

Delinquent. For reporting purposes, a A Mortgage Loan is “delinquent” when if any payment contractually due thereon has is not been made pursuant to the terms of such Mortgage Loan by the close of business on the Due Date thereforday such payment is scheduled to be due. Such A Mortgage Loan is “30 days Delinquentdelinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “60 days Delinquentdelinquent,” and the second immediately succeeding month and “90 days Delinquentdelinquent” and so on. This method of determining delinquencies is also referred to as the third immediately succeeding monthOTS method.

Delinquent. For reporting purposes, a A Mortgage Loan is “delinquent” when if any payment contractually due thereon has is not been made by the close of business on the Due Date thereforday such payment is scheduled to be due. Such A Mortgage Loan is “30 days Delinquentdelinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), ) then on the last day of such immediately succeeding month. Similarly for “60 days Delinquentdelinquent,” and the second immediately succeeding month and “90 days Delinquentdelinquent” and the third immediately succeeding monthso on.

Delinquent. For reporting purposes, a Mortgage A Loan is “delinquent” when if any payment contractually due thereon has is not been made by the close of business on the Due Date thereforday such payment is scheduled to be due. Such Mortgage A Loan is “30 days Delinquentdelinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), ) then on the last day of such immediately succeeding month. Similarly for “60 days Delinquentdelinquent,” and the second immediately succeeding month and “90 days Delinquentdelinquent” and the third immediately succeeding monthso on.

Delinquent. For reporting purposes, a A Mortgage Loan is “delinquent” when delinquent if any payment contractually due thereon has is not been made by the close of business on the Due Date thereforDate. Such A Mortgage Loan is “"30 days Delinquent” delinquent" if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), ) then on the close of business on the last day of such immediately succeeding month. Similarly for “"60 days Delinquent” and the second immediately succeeding month and “delinquent," "90 days Delinquent” delinquent" and the third immediately succeeding monthso on.

Delinquent. For reporting purposes, a A Mortgage Loan is “delinquent” when shall be considered to be Delinquent in payment if any payment contractually due thereon has not been made by the close of business on the Due Date therefor. Such Mortgage Loan is “30 days Delinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “60 days Delinquent” and the second immediately succeeding month and “90 days Delinquent” and the third immediately succeeding month.

Delinquent. For reporting purposes, a Mortgage Securitized Loan is “delinquent” when any payment contractually due thereon has not been made by the close of business on the Due Date therefor. Such Mortgage Securitized Loan is “30 days Delinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no not such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “60 days Delinquent” and the second immediately succeeding month and “90 days Delinquent” and the third immediately succeeding month.

Delinquent. For reporting purposes, a Mortgage Loan is “delinquent” when any payment contractually due thereon has not been made by the close of business on the Due Date therefor. Such Mortgage Loan is “30 days Delinquent” if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no such corresponding day (e.g., as when a 30-day 201359 HomeBanc 2006-2 Transfer and Servicing Agreement month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “60 days Delinquent” and the second immediately succeeding month and “90 days Delinquent” and the third immediately succeeding month.

Delinquent. For reporting purposes, a Mortgage Loan is “delinquent” "Delinquent" when any payment contractually due thereon has not been made by the close of business on the Due Date therefor. Such Mortgage Loan is “"30 days Delinquent” " if such payment has not been received by the close of business on the corresponding day of the month immediately succeeding the month in which such payment was first due, or, if there is no not such corresponding day (e.g., as when a 30-day month follows a 31-day month in which a payment was due on the 31st day of such month), then on the last day of such immediately succeeding month. Similarly for “"60 days Delinquent” " and the second immediately succeeding month and “"90 days Delinquent” " and the third immediately succeeding month. Depositor: Structured Asset Securities Corporation, or any successor in interest.