Repurchase of Mortgage Loans with Early Payment Defaults. If the related Mortgagor is delinquent with respect to any of the Mortgage Loan's first three (3) Monthly Payments at any time either (i) after origination of such Mortgage Loan, or (ii) after the related Closing Date, the Seller, at the Purchaser's option, shall repurchase such Mortgage Loan from the Purchaser at a price equal to the Repurchase Price. The Seller shall repurchase such delinquent Mortgage Loan within thirty (30) days of such request.
Repurchase of Mortgage Loans with Early Payment Defaults. If the related Mortgagor is delinquent with respect to either of the Mortgage Loan's first two Monthly Payments either (i) after origination of such Mortgage Loan, or (ii) after the related Closing Date, and the Purchaser provided written notification to the Seller of such delinquency within ninety (90) days from the Purchaser's receipt of notice of such delinquency, the Seller, at the Purchaser's option, shall repurchase such Mortgage Loan from the Purchaser at a price equal to the Repurchase Price. The Seller shall repurchase such delinquent Mortgage Loan within thirty (30) days of such request.
Repurchase of Mortgage Loans with Early Payment Defaults. If the related Mortgagor is delinquent after the related Closing Date with respect to the Mortgage Loan's first Monthly Payment by more than 30 days or more following the related Due Date first occurring after the related Closing Date, the Seller, at the Purchaser's option exercised in its sole discretion, shall repurchase such Mortgage Loan from the Purchaser within thirty (30) Business Days following the Purchaser's request therefor at a price equal to the percentage of par as stated in the related Purchase Price and Terms Agreement (subject to adjustment as provided therein) multiplied by the then outstanding principal balance of such Mortgage Loan, plus accrued and unpaid interest thereon from the date to which interest was last paid through the day prior to the repurchase date at the applicable Mortgage Interest Rate, plus any outstanding advances owed to any servicer in connection with such Mortgage Loan.
Repurchase of Mortgage Loans with Early Payment Defaults. If the related Mortgagor fails to make the first Monthly Payment due after the related Closing Date on or prior to the date which is thirty (30) days following the related Due Date (an "Early Payment Default"), the Seller, at the Purchaser's option, shall repurchase such Mortgage Loan from the Purchaser at the Repurchase Price within twenty (20) Business Days of the date on which the Purchaser made such claim; provided that the Purchaser shall notify and invoice the Seller of any obligation to repurchase such Mortgage Loan pursuant to this Subsection 9.04 within one hundred eighty (180) days following the related Closing Date for such claim(s) to be valid and enforceable.
Repurchase of Mortgage Loans with Early Payment Defaults. If during the first two full calendar months following the related Closing Date the aggregate scheduled principal balance of the Mortgage Loans that are 30 days or more delinquent (excluding any first payment default) exceeds 1.00% of the scheduled principal balance of such Mortgage Loans in the aggregate, the Seller shall repurchase from the Purchaser any delinquent Mortgage Loans selected by the Purchaser in its sole discretion that exceed the 1.00% tolerance at a price equal to the related Purchase Price Percentage multiplied by the then outstanding principal balance of the Mortgage Loans to be repurchased plus accrued and unpaid interest thereon from the date to which interest was last paid through the day prior to the repurchase date at the related Mortgage Interest Rate. The Purchaser shall notify the Seller and request any such repurchase within sixty (60) days after the related Due Date for the Monthly Payment which the related Mortgagor failed to make giving rise to such repurchase request.
Repurchase of Mortgage Loans with Early Payment Defaults. If a Mortgage Loan is thirty (30) days or more delinquent with respect to the Mortgage Loan’s Monthly Payment before the expiration of the three (3) month period immediately following the applicable Closing Date, the Seller, at the Purchaser’s option, shall upon notice from the Purchaser repurchase such Mortgage Loan from the Purchaser at the Repurchase Price.
Repurchase of Mortgage Loans with Early Payment Defaults. If the related Mortgagor fails to make the first Monthly Payment due to the Purchaser after the Closing Date on or before the date which is forty-five days after the related Due Date, the Seller, at the Purchaser's option exercised in its sole discretion, shall repurchase such Mortgage Loan from the Purchaser at a price equal to the percentage of par as stated in the Purchase Price and Terms Agreement (subject to adjustment as provided therein) multiplied by the then outstanding principal balance of such Mortgage Loan, plus accrued and unpaid interest thereon from the date to which interest was last paid through the day prior to the repurchase date at the applicable Mortgage Interest Rate, plus any outstanding advances owed to any servicer in connection with such Mortgage Loan.
Repurchase of Mortgage Loans with Early Payment Defaults. Subsection 9.05 Purchaser's Right to Review................................
Repurchase of Mortgage Loans with Early Payment Defaults. If any Monthly Payment is thirty (30) days or more delinquent before the expiration of the three (3) month period following the applicable Closing Date, the Seller, upon receipt of written request from the Purchaser, shall repurchase such Mortgage Loan from the Purchaser at the Repurchase Price; provided that Seller shall have no such repurchase obligation unless Purchaser gives such written request to Seller no later than ninety (90) days following receipt of the corresponding remittance report for such delinquent Monthly Payment. Notwithstanding the foregoing provisions of this Section 3.05, if the Purchaser does not notify the Seller in writing either (i) in its request to Seller to repurchase such Mortgage Loan or in any corresponding funding schedule, or (ii) on or before the 60th day following Seller’s repurchase of such Mortgage Loan, to pay that portion of the Repurchase Price equal to the product of the unpaid principal balance of the repurchased Mortgage Loan and the Purchase Price Premium, if any, the Purchase Price Premium for purposes of calculating such Repurchase Price shall be deemed to be zero.
Repurchase of Mortgage Loans with Early Payment Defaults. If a Mortgagor of any Mortgage Loan originated on a date (x) not more than 12 months prior to the related Closing Date is delinquent with respect to any of the Mortgage Loan’s first three (3) Monthly Payments due and payable either (i) after origination of such Mortgage Loan, or (ii) after the related Closing Date, or (y) on or more than 12 months prior to the related Closing Date is delinquent with respect to any of the Mortgage Loan’s first three (3) Monthly Payments due and payable after the related Closing Date, then in either case, the Seller, at the Purchaser’s option, shall repurchase such Mortgage Loan from the Purchaser at a price equal to the Repurchase Price. The Purchaser shall notify the Seller and request any such repurchase within 180 days after the related Closing Date and the Seller shall repurchase such delinquent Mortgage Loan within thirty (30) days of such request.
