Principal Residence. The related Mortgaged Property is the Mortgagor's principal residence. This representation and warranty is a Deemed Material and Adverse Representation.
Principal Residence. With respect to each Second Lien Loan, the related Mortgaged Property is the Mortgagor’s principal residence. This representation and warranty is a Deemed Material and Adverse Representation.
Principal Residence. The address shown under the Shareholder’s signature on the signature page hereof is the Shareholder’s principal residence.
Principal Residence. The related Mortgaged Property is the Mortgagor’s principal residence.
Principal Residence. The Borrowers will, for all time periods that any amount is due and owing under the Note and this Mortgage is outstanding, occupy the Mortgaged Property as its principal residence.
Principal Residence. Buyer intends to use the Condominium Unit as his or her principal residence.
Principal Residence. If the Subscriber is a natural person, the Subscriber’s domicile and principal residence are maintained at the legal address provided to the General Partner in the Subscription Information Sheet (and any accompanying attachments) submitted by the Subscriber herewith, and the Subscriber has no present intention of becoming a resident of any other state or jurisdiction. If the Subscriber is a corporation, trust, partnership, joint venture or other organization, the Subscriber has its domicile, principal place of business, or principal office at the legal address provided to the General Partner in the Subscription Information Sheet (and any accompanying attachments) submitted by the Subscriber herewith, and the Subscriber has no present intention of relocating such domicile, principal place of business, or principal office to any other state or jurisdiction.
Principal Residence. The home buyer must occupy the home as a principal residence within a reasonable period which, under most circumstances, may not exceed 60 days after financing is provided. A principal residence is a home occupied primarily for residential purposes and does not include a home used as an investment property, as a recreational home or a home in which 15 percent or more of its total area is used for a trade or business.
Principal Residence. The Company shall reimburse the Executive for any Loss, as computed below, incurred by the Executive on the sale of his Principal Residence if such sale closes on or prior to June 30, 2010 and, except as expressly set forth below, prior to the Executive’s termination of employment with the Company and its Affiliates for any reason other than his death (the period of protection against loss is referred to herein as the “Loss Protection Period”). Any Loss incurred by the Executive during the Loss Protection Period shall be computed as follows: A “Loss” shall mean at any time during the Loss Protection Period, that the purchase price paid by the Executive for the Principal Residence exceeds the higher of (i) the sale price received by the Executive for the Principal Residence during the Loss Protection Period or (ii) the average of two independent appraisals of the fair market value of the Principal Residence as of the date of execution of the purchase and sale agreement for the sale of the Principal Residence by the Executive (one of such independent appraisers shall be selected by the Company and the other shall be selected by the Executive). Such amount shall be paid by the Company to the Executive as soon as practicable following closing of the sale and receipt of the necessary appraisals, and such payment shall be made in accordance with any requirements under Section 409A of the Code, to the extent, if any, that Section 409A is applicable to such payment. Notwithstanding the foregoing, if the Executive’s employment is terminated by the Company for any reason other than death or Cause (including by the Company giving notice of nonrenewal under Section 2 above), or if the Executive terminates his employment under Section 8(b), 8(d)(iii) or 8(d)(iv) above, the Loss Protection Period will not end until the earlier of twenty-four months following such termination of employment or June 30, 2010. In the event the Executive’s employment terminates due to his death, the Loss Protection Period will continue through June 30, 2010 and any amount payable, as set forth above, shall be paid to the Executive’s spouse or estate. The cost of the appraisals required under this Section shall be paid by the Company.
Principal Residence. The related Mortgaged Property is the Mortgagor's principal residence or second home. SCHEDULE V GSAMP Mortgage Loan Trust 2006-NC2, Mortgage Pass-Through Certificates The Responsible Party hereby makes the representations and warranties set forth in this Schedule V to the Depositor, Ocwen, NCMC, the Securities Administrator, the Master Servicer and the Trustee, as of the Closing Date.
