First Payment Default. In the event the Mortgagor fails to make the first Monthly Payment due after the Closing Date, the Company will repurchase the Mortgage Loan at the Purchase Price.
Appears in 10 contracts
Sources: Seller's Warranties and Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Ser 2002-8a), Seller's Warranties and Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-18a), Seller's Warranties and Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 03 2a)