Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans..............................................................99
Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans .....................................................................99 Section 9.02
Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans. .....................................................38 Section 9.02. Additional Termination Requirements. (See Section 9.02 of the Standard Terms)...............................................................39 Section 9.03.
Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans...............................105 Section 9.02. Additional Termination Requirements.................................108
Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans ....................... 104 -iii- TABLE OF CONTENTS (continued) Page
Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans.-104- Section 9.02. Additional Termination Requirements.........................-107- ARTICLE X REMIC PROVISIONS
Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans........58 Section 9.02. Additional Termination Requirements..............................................61 Section 9.03. Termination of Multiple REMICs...................................................61 ARTICLE X REMIC PROVISIONS......................................................................................62
Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans (a) Subject to Section 9.02, the respective obligations and responsibilities of the Company, the Master Servicer and the Trustee created hereby in respect of the Certificates (other than the obligation of the Trustee to make certain payments after the Final Distribution Date to Certificateholders and the obligation of the Company to send certain notices as hereinafter set forth) shall terminate upon the last action required to be taken by the Trustee on the Final Distribution Date pursuant to this Article IX following the earlier of: (i) the later of the final payment or other liquidation (or any Advance with respect thereto) of the last Mortgage Loan remaining in the Trust Fund or the disposition of all property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan, or (ii) the purchase by the Master Servicer of all Mortgage Loans and all property acquired in respect of any Mortgage Loan remaining in the Trust Fund at a price equal to 100% of the unpaid principal balance of each Mortgage Loan or, if less than such unpaid principal balance, the fair market value of the related underlying property of such Mortgage Loan with respect to Mortgage Loans as to which title has been acquired if such fair market value is less than such unpaid principal balance (net of any unreimbursed Advances attributable to principal) on the day of repurchase plus accrued interest thereon at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of any Modified Mortgage Loan) to, but not including, the first day of the month in which such repurchase price is distributed, provided, however, that in no event shall the trust created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. Xxxxx, living on the date hereof and provided further that the purchase price set forth above shall be increased as is necessary, as determined by the Master Servicer, to avoid disqualification of any portion of any REMIC formed under the Series Supplement as a REMIC. The purchase price paid by the Master Servicer shall also include any amounts owed by Residential Funding pursuant to the last paragraph of Section 4 of the Assignment Agreement in respect of any liability, penalty or expense that resulted from a breach of the Complia...
Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans 60 Section 9.02 Additional Termination Requirements 63 Section 9.03 Termination of Multiple REMICs 63 ARTICLE X REMIC PROVISIONS Section 10.01 REMIC Administration 64 Section 10.02 Master Servicer; REMIC Administrator and Trustee Indemnification 64 Section 10.03 Designation of REMICs 64 Section 10.04 Distributions on the Uncertificated REMIC I and REMIC II Regular Interests 65 Section 10.05 Compliance with Withholding Requirements 67 ARTICLE XI MISCELLANEOUS PROVISIONS Section 11.01 Amendment 68 Section 11.02 Recordation of Agreement; Counterparts 68 Section 11.03 Limitation on Rights of Certificateholders 68 Section 11.04 Governing Law 68 Section 11.05 Notices 68 Section 11.06 Required Notices to Rating Agency and Subservicer 69 Section 11.07 Severability of Provisions. (See Section 11.07 of the Standard Terms) 69
Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans.......113 ARTICLE X