Common use of Purchases Upon Conversion Clause in Contracts

Purchases Upon Conversion. 99 This CONTRACT SALE AND SERVICING AGREEMENT (SERIES [_______]), dated as of [__________] (the "Agreement"), is executed by and between GreenPoint Credit, LLC, as the contract seller (in such capacity, the "Contract Seller") and the servicer (in such capacity together with its permitted successors, the "Servicer"), and GreenPoint Asset LLC (in such capacity, the "Purchaser"). The Contract Seller and Servicer have duly authorized the execution and delivery of this Agreement to provide for the issuance of GreenPoint Manufactured Housing Contract Trust, Pass-Through Notes, Series [_______] (the "Notes"). The Notes issued hereunder shall be limited to the amount herein described. All covenants and agreements made by the Contract Seller herein are for the benefit and security of the Purchaser. The Contract Seller is entering into this Agreement, and the Purchaser is accepting the Contracts (defined below)) tendered herein for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. In consideration of the premises and the mutual agreements hereinafter set forth, the parties hereto agree as follows:

Purchases Upon Conversion. 99 This CONTRACT SALE POOLING AND SERVICING AGREEMENT (SERIES [_______]2000-2), dated as of [__________] March 1, 2000 (the "Agreement"), is executed by and between GreenPoint Credit, LLC, as the contract seller (in such capacity, the "Contract Seller") and the servicer (in such capacity together with its permitted successors, the "Servicer"), and GreenPoint Asset LLC Bank One, National Association, as trustee (together with its permitted successors in such capacitytrust, the "PurchaserTrustee"). The Contract Seller and Servicer have duly authorized the execution and delivery of this Agreement to provide for the issuance of GreenPoint Manufactured Housing Contract Trust, Pass-Through NotesCertificates, Series [_______] 2000-2 (the "NotesCertificates"). The Notes Certificates issued hereunder shall be limited to the amount herein described. All covenants and agreements made by the Contract Seller herein are for the benefit and security of the PurchaserCertificateholders. The Contract Seller is entering into this Agreement, and the Purchaser Trustee is accepting the Contracts (defined below)) tendered herein trusts created hereby for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. In consideration of the premises and the mutual agreements hereinafter set forth, the parties hereto agree as follows: