Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day, at the offices of XxXxx Xxxxxx llp, 0 Xxxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000 (or at such other location acceptable to the Seller), the Seller and the Conduit Seller will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), the Offered Certificates with an aggregate Percentage Interest in each Class equal to 100% registered in the name of Cede & Co. or in such other names as the Underwriters shall direct, against payment to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor, the Seller and the Conduit Seller), Class R Certificates registered in the name of CHEC Residual, LLC, a Delaware limited liability company, and the Class X-IO Certificates, registered in the name of CHEC Residual, LLC, a Delaware limited liability company (all such events shall be referred to herein as the “Closing”). END OF ARTICLE IV
Sale of Certificates. At 8 a.m., Pacific time on the Startup Day (the "Closing"), at the offices of Xxxxx & Xxxxxx LLP, 0 Xxxx Xxxxx, Xxxxxx, Xxxxxxxxxx (or at such other location acceptable to the Seller), the Seller will sell and convey the Initial Mortgage Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will sell and convey the Initial Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will deliver (i) to the Underwriters, the Offered Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co., or in such other names as the Underwriters shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, (ii) to the initial purchasers thereof, Class S Certificates with a cumulative Percentage Interest equal to 100%, (iii) to the initial purchasers thereof, Class C-IO Certificates with an aggregate Percentage Interest in each Class of 100%, (iv) to the respective registered owners thereof, a Class D Certificate with a Percentage Interest equal to 100% and a Class R Certificate with a Percentage Interest equal to 99.999%, registered in the names designated by the Depositor and (v) to the Trustee, the Tax Matters Person Residual Interest. Upon the Trustee's receipt of the entire net proceeds of the sale of the Certificates the Depositor shall instruct the Trustee to deposit (a) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (b) an amount equal to the Original Capitalized Interest Amount to the Capitalized Interest Account contributed by the Depositor out of such proceeds or otherwise. The Trustee shall then remit the entire balance of such net proceeds to the Depositor in accordance with instructions delivered by the Depositor. END OF ARTICLE IV
Sale of Certificates. 44 ARTICLE V
Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day (the "Closing"), at the offices of Xxxxx Xxxxxxxxxx LLP, 1301 Sixth Avenue, New York, New York (or at such other location acceptable to the Seller), the Sellers will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will deliver (i) to the Underwriters the Class A Certificates and the Class B Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co., or in such other names as the Underwriters shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trust and (ii) to the respective registered Owners thereof, the Class C Certificates and a Residual Certificate of each Class, each with a Percentage Interest equal to 99.999%, registered in the name of ContiSecurities Holding Corporation and a Residual Certificate of each Class, each with a Percentage Interest equal to 0.001%, registered in the name of ContiFunding Corporation. Upon the Trustee's receipt of the entire net proceeds of the sale of the Certificates, the Trustee shall remit the entire balance of such net proceeds to the Depositor in accordance with instructions delivered by the Depositor. END OF ARTICLE IV
Sale of Certificates. At 11 a.m. New York City time on the Startup Day, at the offices of Stroock & Stroock & Xxxxx LLP, 000 Xxxxxx Xxxx, Xxx Xxxx, Xxx Xxxx 00000-0000 (or at such other location acceptable to the Seller), the Seller will sell and convey the Initial Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Initial Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will deliver (i) to the Underwriter (as designee of the Depositor), the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100% registered in the name of Cede & Co. or in such other names as the Underwriter shall direct, against payment to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor), Class R Certificates with a Percentage Interest equal to 99.999%, registered in the name of the initial purchasers thereof and a Class R Certificate with a Percentage Interest equal to 0.001%, registered in the name of the Tax Matters Person (all such events shall be referred to herein as the "Closing").
Sale of Certificates. At 11 a.m. New York City time on the Startup Day, at the offices of Stroock & Stroock & Xxxxx LLP, 000 Xxxxxx Xxxx, Xxx Xxxx, Xxx Xxxx 00000-0000 (or at such other location acceptable to the Seller), the Seller will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will deliver (i) to the Underwriters, the Offered Certificates with an aggregate Percentage Interest in each Class equal to 100% registered in the name of Cede & Co. or in such other names as the Underwriters shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee and (ii) to the respective registered owners thereof, Class R Certificates with a Percentage Interest equal to 99.999%, registered in the name of the initial purchasers thereof and a Class R Certificate with a Percentage Interest equal to 0.001%, registered in the name of the Tax Matters Person (all such events shall be referred to herein as the "Closing"). END OF ARTICLE IV
Sale of Certificates. At 10:00 a.m. Eastern Standard Time on the Startup Date, at the offices of Xxxxx & Xxxxxx LLP, 0000 X Xxxxxx, X.X., Xxxxxxxxxx, X.X. 00000, the Company will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriter the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, and (ii) deliver to First Alliance Residual Holding Company a Class R Certificate, with a Percentage Interest equal to 100%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Company shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to $78,928.95 in the Capitalized Interest Account contributed by the Company out of such proceeds or otherwise, (b) pay any fees and expenses identified by the Company and (c) pay to the Company the balance after deducting such amounts. The Company shall pay directly to the Certificate Insurer the Initial Premiums.
Sale of Certificates. At 11:00 a.m. New York City time on the Startup Date, at the offices of Xxxxxxx & Xxxxx L.L.P., 0000 Xxxxxxxxxxxx Xxxxxx, X.X., Xxxxxxxxxx, X.X. 00000, the Sponsor will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriter, the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriter shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee and (ii) deliver to the Sponsor, the Class B Certificates and the Residual Certificates, with an aggregate Percentage Interest equal to 100%, registered as the Sponsor shall request. Upon receipt of the proceeds of the sale of the Class A Certificates, the Trustee shall, from the proceeds of the sale of the Class A Certificates, pay such fees and expenses as are identified by the Sponsor, and pay to the Sponsor the balance after deducting such amounts. The Sponsor shall pay directly to the Certificate Insurer the Initial Premium.
Sale of Certificates. At 11 a.m. New York City time on the Startup Date, at the offices of Dewex Xxxxxxxxxx, 0001 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, xxe Sponsor will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Representative, the Offered Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Representative shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee and (ii) deliver to the Sponsor, the Class R Certificates, with an aggregate Percentage Interest equal to 100%, registered as the Sponsor shall request. Upon receipt of the proceeds of the sale of the Certificates, the Trustee shall, from the proceeds of the sale of the Certificates, pay other fees and expenses identified by the Sponsor, and pay to the Sponsor the balance after deducting such amounts.
Sale of Certificates. At 11 a.m. New York City time on the Startup Day, at the offices of Xxxxx Xxxxxxxxxx, 0000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, the Seller will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) hold the Class A Certificates as transfer agent for the Depository, with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters shall direct against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee for disbursement to the Seller and (ii) deliver to the Seller, the Class B Certificates and the Residual Certificates, with an aggregate Percentage Interest equal to 100%, registered as the Seller shall request. Upon receipt of the proceeds of the sale of the Certificates, the Seller shall (a) pay the initial premiums due to the Certificate Insurer and (b) pay other fees and expenses identified by the Seller.
