Purchase of Mortgage Loans. Termination of Trust Fund Upon Purchase or Liquidation of All Mortgage Loans......................................................................84 Section 7.02. Procedure Upon Termination of Trust Fund...................................................85 Section 7.03. Additional Trust Fund Termination Requirements.............................................86
Purchase of Mortgage Loans. Termination of Trust Fund Upon Purchase or Liquidation of All Mortgage Loans.
Purchase of Mortgage Loans. The Seller hereby sells, transfers, assigns and conveys, and the Company hereby purchases, the mortgage loans (the “Mortgage Loans”), listed in Exhibit I.
Purchase of Mortgage Loans. Termination of Trust Fund Upon Purchase or Liquidation of All Mortgage Loans...........................................................77 Section 7.02 Procedure Upon Redemption Termination of Trust Fund............................................77 Section 7.03 Additional Trust Fund Termination Requirements.................................................78 ARTICLE VIII RIGHTS OF CERTIFICATEHOLDERS........................................................................79 Section 8.01 Limitation on Rights of Holders................................................................79 Section 8.02 Access to List of Holders......................................................................80 Section 8.03 Acts of Holders of Certificates................................................................81 ARTICLE IX ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER.................................82
Purchase of Mortgage Loans. The Servicer may, but is not obligated to, purchase for its own account any Mortgage Loan which becomes Delinquent, in whole or in part, as to four consecutive monthly installments or any Mortgage Loan as to which enforcement proceedings have been brought by the Servicer or by any Sub-Servicer pursuant to Section 8.13. Any such Loan so purchased shall be purchased by the Servicer not later than the related Remittance Date at a purchase price equal to the Loan Purchase Price thereof, which purchase price shall be deposited in the Principal and Interest Account.
Purchase of Mortgage Loans. The Seller hereby sells, transfers, assigns and conveys, and the Company hereby purchases the mortgage loans (the “Mortgage Loans”) listed on the Mortgage Loan Schedule in Exhibit 1.
Purchase of Mortgage Loans. Termination of Trust Fund Upon Purchase or Liquidation of All Mortgage Loans. 124 Section 7.02. Procedure Upon Redemption of Trust Fund. 125 Section 7.03. Additional Trust Fund Termination Requirements. 126 ARTICLE VIII RIGHTS OF CERTIFICATEHOLDERS 127 Section 8.01. Limitation on Rights of Holders. 127 Section 8.02. Access to List of Holders. 128 Section 8.03. Acts of Holders of Certificates. 129 ARTICLE IX ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER 130
Purchase of Mortgage Loans. Termination of Trust Fund Upon Purchase or Liquidation of All Mortgage Loans. 154 Section 7.02. Procedure Upon Termination of Trust Fund. 155 Section 7.03. Additional Trust Fund Termination Requirements. 156
Purchase of Mortgage Loans. (a) Sale and Conveyance of Mortgage Loans. From time to time the Seller may offer to sell to the Purchaser, and the Purchaser elect to purchase from the Seller, Mortgage Loans in one or more Transactions pursuant to the terms and conditions of the Program Documents. The agreement of the Seller to sell to the Purchaser, and of the Purchaser to purchase from the Seller, Mortgage Loans on a particular Closing Date shall be evidenced by the execution of a Purchase Price and Terms Letter. The obligation of the Purchaser to purchase any Mortgage Loan from the Seller on any particular Closing Date shall be subject to the satisfaction of the conditions precedent to the Purchaser's obligation to purchase set forth in Section 2(b). The sale of each Mortgage Loan shall be reflected in the Seller's balance sheet and other financial statements as a sale of assets by the Seller.
Purchase of Mortgage Loans. The Master Servicer may, but is not obligated to, purchase for its own account any Mortgage Loan which becomes Delinquent, in whole or in part, as to four consecutive monthly installments or any Mortgage Loan as to which enforcement proceedings have been brought by the Master Servicer or by any Sub-servicer pursuant to Section 8.13. Any such Loan so purchased shall be purchased by the Master Servicer on a Remittance Date at a purchase price equal to the Loan Purchase Price thereof, which purchase price shall be deposited in the Principal and Interest Account. Notwithstanding the foregoing, the Master Servicer may not purchase any such Mortgage Loan unless the Master Servicer has delivered to the Trustee an opinion of counsel experienced in federal income tax matters acceptable to the Trustee to the effect that such a purchase would not constitute a Prohibited Transaction for the Trust or otherwise subject the Trust to tax and would not jeopardize the status of either the Upper-Tier REMIC or the Lower-Tier REMIC as a REMIC.
