Common use of Premium Recapture Clause in Contracts

Premium Recapture. Should any Borrower prepay a Subprime Loan during the twelve month period following Countrywide’s purchase of the loan, Seller shall reimburse Countywide, upon demand, some or all of the purchase price premium above par paid by Countrywide. The reimbursement shall be calculated using the following formula for “Spot” commitments and “Pool” commitments unless stated otherwise in the “Pool” commitment letter: Purchase Price Premium paid by Countrywide x 12 minus the number of months expired since the date of purchase 12 – Prepay Penalty = Premium Refund

Premium Recapture. Should any Borrower prepay a Subprime Loan during the twelve month period following Countrywide’s purchase of the loan, Seller shall reimburse Countywide, upon demand, some or all of the purchase price premium above par paid by Countrywide. The reimbursement shall be calculated using the following formula for “Spot” commitments and “Pool” commitments unless stated otherwise in the “Pool” commitment letter: Purchase Price price Premium paid Paid by Countrywide x X 12 minus the number of months expired since the date of purchase 12 – Prepay Penalty = Premium Refund

Premium Recapture. Should any Borrower prepay a Subprime Loan during the twelve month period following Countrywide’s 's purchase of the loan, Seller shall reimburse Countywide, upon demand, some or all of the purchase price premium above par paid by Countrywide. The reimbursement shall be calculated using the following formula for “"Spot” " commitments and “"Pool” " commitments unless stated otherwise in the “"Pool” " commitment letter: Purchase Price Premium paid by Countrywide x 12 minus the number of months Premium x expired since the date of purchase 12 – - Prepay Penalty = Premium ---------------------------------- paid by Countrywide 12 penalty Refund