Common use of Early Payment Default Clause in Contracts

Early Payment Default. In addition to, but not in limitation of, the Seller/Servicer's repurchase obligations set forth in Section 6.03, the Seller/Servicer shall repurchase, at the Purchase Price, any Mortgage Loan sold to Purchaser pursuant to this Agreement within twenty (20) business days of receipt of written notice from the Purchaser if (i) the first Due Date for a Mortgage Loan is subsequent to the Cut- Off Date and a Mortgagor fails to make the first payment due under the terms of the Mortgage Note and Mortgage within thirty (30) days of the Due Date, or (ii) the Unpaid Principal Balance due on a Mortgage Loan is paid in full within thirty (30) days of the related Closing Date.

Early Payment Default. In addition to, but not in limitation of, the Seller/Servicer's ’s repurchase obligations set forth in Section 6.03, the Seller/Servicer shall repurchase, at the Purchase Price, any Mortgage Loan sold to the Purchaser pursuant to this Agreement within twenty (20) business days of receipt of written notice from the Purchaser if (i) the i)the first Due Date for a Mortgage Loan is subsequent to the Cut- Off Date and a Mortgagor fails to make the first payment due under the terms of the Mortgage Note and Mortgage within thirty (30) days of the Due Date, or (ii) the ii)the Unpaid Principal Balance due on a Mortgage Loan is paid in full within thirty (30) days of the related Closing Date.