Common use of Purchase of Subsequent Mortgage Loans Clause in Contracts

Purchase of Subsequent Mortgage Loans. On each Subsequent Transfer Date, (i) the Trust shall purchase, and the Seller shall sell, the Subsequent Mortgage Loans, as contemplated by and subject to the conditions set forth in Section 2.2 of the Home Equity Loan Purchase Agreement; (ii) in consideration for the Purchase of the Subsequent Mortgage Loans, the Trust shall instruct the Indenture Trustee to transfer funds in the Pre-Funding Account to the Seller as contemplated by and subject to the conditions set forth in Section 8.08 of the Indenture, (iii) the Subsequent Mortgage Loan shall become part of the Owner Trust Estate under this Trust Agreement and (iv) the Subsequent Mortgage Loans shall become part of the Trust Estate and the Collateral under the Indenture.

Purchase of Subsequent Mortgage Loans. On each Subsequent Transfer Date, (i) the Seller shall sell, and the Company shall purchase, the Subsequent Mortgage Loans, and the Company shall resell, and the Trust shall purchase, and the Seller shall sell, the Subsequent Mortgage Loans, as contemplated by and subject to the conditions set forth in Section 2.2 of the Home Equity Mortgage Loan Purchase Agreement; (ii) in consideration for the Purchase of the Subsequent Mortgage Loans, the Trust shall instruct the Indenture Trustee to transfer funds in the Pre-Funding Account to the Company, who shall in turn transfer such funds to the Seller as contemplated by and subject to the conditions set forth in Section 8.08 of the Indenture, (iii) the Subsequent Mortgage Loan shall become part of the Owner Trust Estate under this Trust Agreement and (iv) the Subsequent Mortgage Loans shall become part of the Trust Estate and the Collateral under the Indenture.

Purchase of Subsequent Mortgage Loans. On each Subsequent Transfer Date, (i) the Seller shall sell, and the Company shall purchase, the Subsequent Mortgage Loans, and the Company shall resell, and the Trust shall purchase, and the Seller shall sell, the Subsequent Mortgage Loans, as contemplated by and subject to the conditions set forth in Section 2.2 of the Home Equity Mortgage Loan Purchase Agreement; (ii) in consideration for the Purchase of the Subsequent Mortgage Loans, the Trust shall instruct the Indenture Trustee Bond Administrator to transfer funds in the Pre-Funding Account to the Company, who shall in turn transfer such funds to the Seller as contemplated by and subject to the conditions set forth in Section 8.08 of the Indenture, (iii) the Subsequent Mortgage Loan shall become part of the Owner Trust Estate under this Trust Agreement and (iv) the Subsequent Mortgage Loans shall become part of the Trust Estate and the Collateral under the Indenture.