Common use of Manner of Repurchase Clause in Contracts

Manner of Repurchase. Any Asset purchased pursuant to Section 2.06(a), (b), (c) or (d) hereof shall be purchased at the Repurchase Price for such Asset. The Seller, the Company or the Servicer, as appropriate (any of the foregoing, a "Repurchaser"), shall deposit into the Certificate Account, on the date of purchase, the Repurchase Price for each Asset to be purchased. Upon such deposit and upon being provided by the Repurchaser with appropriate instruments of transfer or assignment, the Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation or warranty, as shall be necessary to vest in the Repurchaser any Asset purchased hereunder, and the Trustee shall deliver to the Repurchaser any Asset Documents relating to the repurchased Asset that are in the Trustee's possession, whereupon the Trustee shall have no further responsibility with regard to such Asset. If a Repurchaser shall, in accordance with the foregoing, purchase any Asset required by it to be purchased, neither the Trustee nor any Certificateholder shall have any other remedy against such Repurchaser based on any misrepresentation or breach of covenant or warranty of such Repurchaser with respect to or resulting from any such Asset. The Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.06 and shall certify such amounts to the Trustee at the time of any such purchase. If, for whatever reason, the Servicer shall certify to the Trustee that there is a miscalculation of the amount to be paid to the Trust, the Trustee shall from monies in the Distribution Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Repurchaser upon the discovery of such overpayment, and the Servicer shall collect from the applicable Repurchaser for payment to the Trustee any underpayment that resulted from such miscalculation upon the discovery of such underpayment. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Repurchaser.

Manner of Repurchase. Any Asset purchased pursuant to Section 2.06(a2.05(a), (b), (c), (d) or (de) hereof shall be purchased at the Repurchase Price for such Asset. The Seller, the Company OMI or the Servicer, as appropriate (any of the foregoing, a "Repurchaser"), shall deposit into the Certificate Account, on the date of purchase, the Repurchase Price for each Asset to be purchased. Upon such deposit and upon being provided by the Repurchaser with appropriate instruments of transfer or assignment, the Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation or warranty, as shall be necessary to vest in the Repurchaser any Asset purchased hereunder, and the Trustee shall deliver to the Repurchaser any Asset Documents relating to the repurchased Asset that are in the Trustee's possession, whereupon the Trustee shall have no further responsibility with regard to such Asset. If Except as provided in this Section 2.06(f), if a Repurchaser shall, in accordance with the foregoing, purchase any Asset required by it to be purchased, neither the Trustee nor any Certificateholder shall have any other remedy against such Repurchaser based on any misrepresentation or breach of covenant or warranty of such Repurchaser with respect to or resulting from any such Asset. The Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.06 and shall certify such amounts to the Trustee at the time of any such purchase. If, for whatever reason, the Servicer shall certify to the Trustee that there is a miscalculation of the amount to be paid to the Trust, the Trustee shall from monies in the Distribution Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Repurchaser upon the discovery of such overpayment, and the Servicer shall collect from the applicable Repurchaser for payment to the Trustee any underpayment that resulted from such miscalculation upon the discovery of such underpayment. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Repurchaser. Any Repurchaser shall indemnify and hold harmless the Trustee from and against any and all losses or liabilities incurred by the Trustee (including any such losses or liabilities arising from third-party claims) with respect to or resulting from any repurchase hereunder.

Manner of Repurchase. Any Asset purchased pursuant to Section 2.06(a2.04(a), (b), (c), (d) or (de) hereof shall be purchased at the Repurchase Price for such Asset. The Seller, the Company Depositor or the Master Servicer, as appropriate (any of the foregoing, a "Repurchaser"), shall deposit into the Certificate Account, on the date of purchase, the Repurchase Price for each Asset to be purchased. Upon such deposit and upon being provided by the Repurchaser with notice thereof and the appropriate instruments of transfer or assignment, the Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation or warranty, as shall be necessary to vest in the Repurchaser any Asset purchased hereunder, and the Trustee shall deliver to the Repurchaser any Asset Documents relating to the repurchased Asset that are in the Trustee's possession, whereupon the Trustee shall have no further responsibility with regard to such Asset. If Except as provided in this Section 2.05(f), if a Repurchaser shall, in accordance with the foregoing, purchase any Asset required by it to be purchased, neither the Trustee nor any Certificateholder shall have any other remedy against such Repurchaser based on any misrepresentation or breach of covenant or warranty of such Repurchaser with respect to or resulting from any such Asset. The Master Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.06 2.05 and shall certify in writing such amounts to the Trustee at the time of any such purchase. If, for whatever reason, the Master Servicer shall certify to the Trustee that there is a miscalculation of the amount to be paid to the Trust, the Trustee shall Master Servicer may withdraw from monies in the Distribution Certificate Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Repurchaser upon the discovery of such overpayment, and the Master Servicer shall collect from the applicable Repurchaser for payment to the Trustee any underpayment that resulted from such miscalculation upon the discovery of such underpaymentunderpayment and deposit such amount into the Certificate Account. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Repurchaser. Any Repurchaser shall indemnify and hold harmless the Trustee from and against any and all losses or liabilities incurred by the Trustee (including any such losses or liabilities arising from third-party claims) with respect to or resulting from any repurchase hereunder.

Manner of Repurchase. Any Asset purchased pursuant to Section 2.06(a2.05(a), (b), (c), (d) or (de) hereof shall be purchased at the Repurchase Price for such Asset. The Seller, the Company or the Servicer, as appropriate (any of the foregoing, a "Repurchaser"), shall deposit into the Certificate Account, on the date of purchase, the Repurchase Price for each Asset to be purchased. Upon such deposit and upon being provided by the Repurchaser with appropriate instruments of transfer or assignment, the Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation or warranty, as shall be necessary to vest in the Repurchaser any Asset purchased hereunder, and the Trustee shall deliver to the Repurchaser any Asset Documents relating to the repurchased Asset that are in the Trustee's possession, whereupon the Trustee shall have no further responsibility with regard to such Asset. If Except as provided in this Section 2.06(f), if a Repurchaser shall, in accordance with the foregoing, purchase any Asset required by it to be purchased, neither the Trustee nor any Certificateholder shall have any other remedy against such Repurchaser based on any misrepresentation or breach of covenant or warranty of such Repurchaser with respect to or resulting from any such Asset. The Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.06 and shall certify such amounts to the Trustee at the time of any such purchase. If, for whatever reason, the Servicer shall certify to the Trustee that there is a miscalculation of the amount to be paid to the Trust, the Trustee shall from monies in the Distribution Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Repurchaser upon the discovery of such overpayment, and the Servicer shall collect from the applicable Repurchaser for payment to the Trustee any underpayment that resulted from such miscalculation upon the discovery of such underpayment. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Repurchaser. Any Repurchaser shall indemnify and hold harmless the Trustee from and against any and all losses or liabilities incurred by the Trustee (including any such losses or liabilities arising from third-party claims) with respect to or resulting from any repurchase hereunder.

Manner of Repurchase. Any Asset purchased pursuant to Section 2.06(a2.05(a), (b), (c), (d) or (de) hereof shall be purchased at the Repurchase Price for such Asset. The Seller, the Company or the Servicer, as appropriate (any of the foregoing, a "Repurchaser"), shall deposit into the Certificate Account, on the date of purchase, the Repurchase Price for each Asset to be purchased. Upon such deposit and upon being provided by the Repurchaser with appropriate instruments of transfer or assignment, the Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation or warranty, as shall be necessary to vest in the Repurchaser any Asset purchased hereunder, and the Trustee shall deliver to the Repurchaser any Asset Documents relating to the repurchased Asset that are in the Trustee's possession, whereupon the Trustee shall have no further responsibility with regard to such Asset. If Except as provided in this Section 2.06(f), if a Repurchaser shall, in accordance with the foregoing, purchase any Asset required by it to be purchased, neither the Trustee nor any Certificateholder shall have any other remedy against such Repurchaser based on any misrepresentation or breach of covenant or warranty of such Repurchaser with respect to or resulting from any such Asset. The Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.06 and shall certify such amounts to the Trustee at the time of any such purchase. If, for whatever reason, the Servicer shall certify to the Trustee that there is a miscalculation of the amount to be paid to the Trust, the Trustee shall from monies in the Distribution Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Repurchaser upon the discovery of such overpayment, and the Servicer shall collect from the applicable Repurchaser for payment to the Trustee any underpayment that resulted from such miscalculation upon the discovery of such underpayment. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Repurchaser. Any Repurchaser shall indemnify and hold harmless the Trustee from and against any and all losses or liabilities incurred by the Trustee (including any such losses or liabilities arising from third- party claims) with respect to or resulting from any repurchase hereunder.

Manner of Repurchase. Any Asset purchased pursuant to Section 2.06(a2.05(a), -------------------- (b), (c), (d) or (de) hereof shall be purchased at the Repurchase Price for such Asset. The Seller, the Company OMI or the Servicer, as appropriate (any of the foregoing, a "Repurchaser"), shall deposit into the Certificate Account, on the date of purchase, the Repurchase Price for each Asset to be purchased. Upon such deposit and upon being provided by the Repurchaser with appropriate instruments of transfer or assignment, the Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation or warranty, as shall be necessary to vest in the Repurchaser any Asset purchased hereunder, and the Trustee shall deliver to the Repurchaser any Asset Documents relating to the repurchased Asset that are in the Trustee's possession, whereupon the Trustee shall have no further responsibility with regard to such Asset. If Except as provided in this Section 2.06(f), if a Repurchaser shall, in accordance with the foregoing, purchase any Asset required by it to be purchased, neither the Trustee nor any Certificateholder shall have any other remedy against such Repurchaser based on any misrepresentation or breach of covenant or warranty of such Repurchaser with respect to or resulting from any such Asset. The Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.06 and shall certify such amounts to the Trustee at the time of any such purchase. If, for whatever reason, the Servicer shall certify to the Trustee that there is a miscalculation of the amount to be paid to the Trust, the Trustee shall from monies in the Distribution Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Repurchaser upon the discovery of such overpayment, and the Servicer shall collect from the applicable Repurchaser for payment to the Trustee any underpayment that resulted from such miscalculation upon the discovery of such underpayment. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Repurchaser. Any Repurchaser shall indemnify and hold harmless the Trustee from and against any and all losses or liabilities incurred by the Trustee (including any such losses or liabilities arising from third-party claims) with respect to or resulting from any repurchase hereunder.

Manner of Repurchase. Any Asset purchased pursuant to Section 2.06(a2.04(a), (b), (c), (d) or (de) hereof shall be purchased at the Repurchase Price for such Asset. The Seller, the Company Depositor or the Master Servicer, as appropriate (any of the foregoing, a "Repurchaser"), shall deposit into the Certificate Account, on the date of purchase, the Repurchase Price for each Asset to be purchased. Upon such deposit and upon being provided by the Repurchaser with appropriate instruments of transfer or assignment, the Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation or warranty, as shall be necessary to vest in the Repurchaser any Asset purchased hereunder, and the Trustee shall deliver to the Repurchaser any Asset Documents relating to the repurchased Asset that are in the Trustee's possession, whereupon the Trustee shall have no further responsibility with regard to such Asset. If Except as provided in this Section 2.05(f), if a Repurchaser shall, in accordance with the foregoing, purchase any Asset required by it to be purchased, neither the Trustee nor any Certificateholder shall have any other remedy against such Repurchaser based on any misrepresentation or breach of covenant or warranty of such Repurchaser with respect to or resulting from any such Asset. The Master Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.06 2.05 and shall certify such amounts to the Trustee at the time of any such purchase. If, for whatever reason, the Master Servicer shall certify to the Trustee that there is a miscalculation of the amount to be paid to the Trust, the Trustee shall from monies in the Distribution Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Repurchaser upon the discovery of such overpayment, and the Master Servicer shall collect from the applicable Repurchaser for payment to the Trustee any underpayment that resulted from such miscalculation upon the discovery of such underpayment. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Repurchaser. Any Repurchaser shall indemnify and hold harmless the Trustee from and against any and all losses or liabilities incurred by the Trustee (including any such losses or liabilities arising from third-party claims) with respect to or resulting from any repurchase hereunder.

Manner of Repurchase. Any Asset purchased pursuant to Section 2.06(a), (b), (c) or (d) hereof shall be purchased at the Repurchase Price for such Asset. The Seller, the Company or the Servicer, as appropriate (any of the foregoing, a "Repurchaser"), shall deposit into the Certificate Account, on the date of purchase, the Repurchase Price for each Asset to be purchased. Upon such deposit and upon being provided by the Repurchaser with appropriate instruments of transfer or assignment, the Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation or warranty, as shall be necessary to vest in the Repurchaser any Asset purchased hereunder, and the Trustee shall deliver to the Repurchaser any Asset Documents relating to the repurchased Asset that are in the Trustee's possession, whereupon the Trustee shall have no further responsibility with regard to such Asset. If a Repurchaser shall, in accordance with the foregoing, purchase any Asset required by it to be purchased, neither the Trustee nor any Certificateholder shall have any other remedy against such Repurchaser based on any misrepresentation or breach of covenant or warranty of such Repurchaser with respect to or resulting from any such Asset. The Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.06 and shall certify such amounts to the Trustee at the time of any such purchase. If, for whatever reason, the Servicer shall certify to the Trustee that there is a miscalculation of the amount to be paid to the Trust, the Trustee shall from monies in the Distribution Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Repurchaser upon the discovery of such overpayment, and the Servicer shall collect from the applicable Repurchaser for payment to the Trustee any underpayment that resulted from such miscalculation upon the discovery of such underpayment. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Repurchaser.paid

Manner of Repurchase. Any Asset purchased pursuant to Section 2.06(a2.04(a), (b), (c), (d) or (de) hereof shall be purchased at the Repurchase Price for such Asset. The Seller, the Company Depositor or the Master Servicer, as appropriate (any of the foregoing, a "“Repurchaser"”), shall deposit into the Certificate Account, on the date of purchase, the Repurchase Price for each Asset to be purchased. Upon such deposit and upon being provided by the Repurchaser with appropriate instruments of transfer or assignment, the Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation or warranty, as shall be necessary to vest in the Repurchaser any Asset purchased hereunder, and the Trustee shall deliver to the Repurchaser any Asset Documents relating to the repurchased Asset that are in the Trustee's ’s possession, whereupon the Trustee shall have no further responsibility with regard to such Asset. If Except as provided in this Section 2.05(f), if a Repurchaser shall, in accordance with the foregoing, purchase any Asset required by it to be purchased, neither the Trustee nor any Certificateholder shall have any other remedy against such Repurchaser based on any misrepresentation or breach of covenant or warranty of such Repurchaser with respect to or resulting from any such Asset. The Master Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.06 2.05 and shall certify such amounts to the Trustee at the time of any such purchase. If, for whatever reason, the Master Servicer shall certify to the Trustee that there is a miscalculation of the amount to be paid to the Trust, the Trustee shall from monies in the Distribution Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Repurchaser upon the discovery of such overpayment, and the Master Servicer shall collect from the applicable Repurchaser for payment to the Trustee any underpayment that resulted from such miscalculation upon the discovery of such underpayment. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Repurchaser. Any Repurchaser shall indemnify and hold harmless the Trustee from and against any and all losses or liabilities incurred by the Trustee (including any such losses or liabilities arising from third-party claims) with respect to or resulting from any repurchase hereunder.