Common use of Initial Purchase Price Clause in Contracts

Initial Purchase Price. As consideration for each EPP Loan to be purchased hereunder, Bank of America shall pay to Seller, on or before the Purchase Date, a portion of the estimated Final Purchase Price (as defined below) (such portion of the estimated Final Purchase Price, the “Initial Purchase Price”). The Initial Purchase Price shall be equal to the lesser of (A) the product of the unpaid principal balance of the EPP Loan multiplied by the lesser of (i) the Initial Purchase Price Percentage (as defined below), (ii) par, or (iii) the estimated Final Purchase Price Percentage (as defined below) or (B) the product of the unpaid principal balance of the EPP Loan multiplied by ninety eight percent (98%) of the estimated Final Purchase Price Percentage of the EPP Loan. Bank of America shall pay the Initial Purchase Price to Seller in accordance with the instructions set forth in Exhibit C. It is understood and agreed that the Initial Purchase Price, being a portion of the estimated Final Purchase Price, includes a holdback amount to account for Bank of America’s post purchase review and confirmation that the EPP Loan fully complies with Bank of America’s requirements and may include as a holdback certain other normal and customary adjustments, fees and/or discounts made by or owed to Bank of America with respect to the EPP Loan under the Program Agreements.

Initial Purchase Price. As consideration for each EPP Loan to be purchased hereunder, Bank of America Countrywide shall pay to Seller, on or before the Purchase Date, a portion of the estimated Final Purchase Price (as defined below) (such portion of the estimated Final Purchase Price, the “Initial Purchase Price”). The Initial Purchase Price shall be equal to the lesser of (A) the product of the unpaid principal balance of the EPP Loan multiplied by the lesser of (i) the Initial Purchase Price Percentage (as defined below), (ii) multiplied by the lesser of par, or (iii) the estimated Final Purchase Price Percentage (as defined below) or (Bii) the product of the unpaid principal balance of the EPP Loan multiplied by ninety eight percent (98%) of the estimated Final Purchase Price Percentage of the EPP Loan. Bank of America Countrywide shall pay the Initial Purchase Price to Seller in accordance with the instructions set forth in Exhibit C. C attached hereto. It is understood and agreed that the Initial Purchase Price, being a portion of the estimated Final Purchase Price, includes a holdback amount to account for Bank of AmericaCountrywide’s post purchase review and confirmation that the EPP Loan fully complies with Bank of AmericaCountrywide’s requirements and may include as a holdback certain other normal and customary adjustments, adjustments fees and/or discounts made by or owed to Bank of America Countrywide with respect to the EPP Loan under the Program Agreements.

Initial Purchase Price. As consideration for each EPP Loan to be purchased hereunder, Bank of America Countrywide shall pay to Seller, on or before the Purchase Date, a portion of the estimated Final Purchase Price (as defined below) (such portion of the estimated Final Purchase Price, the “"Initial Purchase Price”"). The Initial Purchase Price shall be equal to the lesser of (A) the product of the unpaid principal balance of the EPP Loan multiplied by the lesser of (i) the Initial Purchase Price Percentage (as defined below), (ii) multiplied by the lesser of par, or (iii) the estimated Final Purchase Price Percentage (as defined below) or (Bii) the product of the unpaid principal balance of the EPP Loan multiplied by ninety eight percent (98%) of the estimated Final Purchase Price Percentage of the EPP Loan. Bank of America Countrywide shall pay the Initial Purchase Price to Seller in accordance with the instructions set forth in Exhibit C. C attached hereto. It is understood and agreed that the Initial Purchase Price, being a portion of the estimated Final Purchase Price, includes a holdback amount to account for Bank of America’s Countrywide's post purchase review and confirmation that the EPP Loan fully complies with Bank of America’s Countrywide's requirements and may include as a holdback certain other normal and customary adjustments, fees and/or discounts made by or owed to Bank of America Countrywide with respect to the EPP Loan under the Program Agreements.