Common use of OPTIONAL REDEMPTION OF THE BONDS Clause in Contracts

OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans as of the end of the prior Due Period is less than or equal to 20% of the aggregate Cut-off Date Balance and (ii) the Payment Date occurring in June 2015. The aggregate redemption price for the Bonds will be equal to the unpaid Bond Principal Balance of such Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall and Basis Risk Shortfall Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Bond Insurance Policy (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount equal to any amounts owing to the Derivative Contract Counterparties under the Derivative Contracts.

OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans as of the end of the prior Due Period is less than or equal to 2025% of the aggregate Stated Principal Balance of the Mortgage Loans as of Cut-off Date Balance and (ii) the Payment Date occurring in June 2015December 2012. The aggregate redemption price for the Bonds will be equal to the unpaid Bond Principal Balance of such the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall and Basis Risk Shortfall Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Bond Insurance Policy (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture Agreement (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount equal to any amounts owing to the Derivative Contract Counterparties Counterparty under the Derivative Contracts.

OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans as of the end of the prior related Due Period is less than or equal to 20% of the aggregate Cut-off Date Balance and (ii) the Payment Date occurring in June September 2015. The aggregate redemption price for the Bonds will be equal to the unpaid Bond Principal Balance of such Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall and Basis Risk Shortfall Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Bond Insurance Policy (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture Agreement (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount equal to any amounts owing to the Derivative Contract Counterparties under the Derivative Contracts.

OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder shall have the option to redeem the Bonds Bonds, other than the Class 3-A-IO Bonds, in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans as of the end of the prior Due Period is less than or equal to 2025% of the sum of the aggregate Stated Principal Balance of the Mortgage Loans as of Cut-off Date Balance and the Original Pre-Funded Amount and (ii) the Payment Date occurring in June 2015April 2013. The aggregate redemption price for the Bonds Bonds, other than the Class 3-A-IO Bonds, will be equal to the unpaid Bond Principal Balance of such the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall and Shortfall, Basis Risk Shortfall Carry-Forward Amount and Group 3 Net WAC Cap Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Bond Insurance Policy (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture Agreement (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount equal to any amounts owing to the Derivative Contract Counterparties Counterparty under the Derivative Contracts.

OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder Pursuant to Section 3.23 of the Servicing Agreement, the Servicer shall have the option to redeem purchase 100% of the Mortgage Loans, and cause a redemption of the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the any Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans as of the end of the prior Due Period in all four Groups is reduced to less than or equal to 2010% of the aggregate Cut-off Date Balance and (ii) the Payment Date occurring in June 2015Maximum Collateral Amount. The aggregate redemption purchase price for the Bonds Mortgage Loans in each Group will be equal to the unpaid Bond Principal Balance of such the related Class of Bonds (or B Components in the case of the Class B Bonds) as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon (and on the Class IO Bonds) at the applicable related Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall and Basis Risk Shortfall Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer Insurer, the Bond Administrator and the Indenture Trustee under this Indenture and the Bond Insurance Policy Agreement and the Servicer under the Servicing Agreement (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee Trustee, the Bond Administrator and the Bond Insurer) and plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture (which amounts shall be specified in writing upon request ). Such redemption must constitute a "qualified liquidation" of the Issuer REMIC established by the Indenture Trustee and Issuer under Section 860F of the Bond Insurer) and plus an amount equal Code including, without limitation, the requirement that the qualified liquidation takes place over a period not to any amounts owing to the Derivative Contract Counterparties under the Derivative Contractsexceed 90 days.

OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans as of the end of the prior Due Period is less than or equal to 2025% of the aggregate Stated Principal Balance of the Mortgage Loans as of Cut-off Date Balance and (ii) the Payment Date occurring in June 2015February 2013. The aggregate redemption price for the Bonds will be equal to the unpaid Bond Principal Balance of such the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall and Basis Risk Shortfall Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Bond Insurance Policy (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture Agreement (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount equal to any amounts owing to the Derivative Contract Counterparties Counterparty under the Derivative Contracts.

OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder shall have the option to redeem the Bonds in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans as of the end of the prior Due Period is less than or equal to 2025% of the aggregate Stated Principal Balance of the Mortgage Loans as of Cut-off Date Balance and (ii) the Payment Date occurring in June 20152013. The aggregate redemption price for the Bonds will be equal to the unpaid Bond Principal Balance of such the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall and Basis Risk Shortfall Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Bond Insurance Policy (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture Agreement (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount equal to any amounts owing to the Derivative Contract Counterparties Counterparty under the Derivative Contracts.

OPTIONAL REDEMPTION OF THE BONDS. (a) The Majority Certificateholder Holder of the Certificates shall have the option to redeem the Bonds Bonds, other than the Class A-IO Bonds, in whole, but not in part, on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than or equal to 20% of the aggregate Stated Principal Balance of the Mortgage Loans as of Cut-off Date and (ii) the Payment Date in June 2011. Provided the Holder of the Certificates has previously purchased or purchases the Bonds, other than the Class A-IO Bonds, the Holder of the Certificates, or if there is no single Holder, the majority Holder of the Certificates, may cause the termination of the Trust on any Payment Date on or after the Payment Date on which the sum of the aggregate Stated Principal Balance of the ARM Loans as of the end of the prior Due Period is less than or equal to 2015% of the aggregate Stated Principal of the ARM Loans as of the Cut-off Date Balance and (ii) the Payment Date occurring in June 2015Date. The aggregate redemption price for the Bonds will be equal to the unpaid Bond Principal Balance of such the Bonds as of the Payment Date on which the proposed redemption will take place in accordance with the foregoing, together with accrued and unpaid interest thereon at the applicable Bond Interest Rate through such Payment Date (including any related Unpaid Interest Shortfall Shortfalls and Basis Risk Shortfall Carry-Forward Amount), plus an amount sufficient to pay in full all amounts owing to the Bond Insurer and the Indenture Trustee under this Indenture and the Bond Insurance Policy (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount sufficient to pay in full all amounts owing to the Indenture Trustee under this Indenture (which amounts shall be specified in writing upon request of the Issuer by the Indenture Trustee and the Bond Insurer) and plus an amount equal to any amounts owing to the Derivative Contract Counterparties under the Derivative ContractsTrustee).