Common use of Sale of Certificates Clause in Contracts

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 11:00 a.m. (New York City time 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 11:00 11 a.m. New York City time on the Startup Day (the "Closing")Day, at the offices of Stroock & Stroock & Xxxxx Xxxxxxxxxx LLP, 1301 Sixth Avenue000 Xxxxxx Xxxx, New YorkXxx Xxxx, New York Xxx Xxxx 00000 (or at such other location acceptable to the Seller), the Sellers 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 Depositor will cause the Certificate Insurance Policies to be delivered to the Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), 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., 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 Trust Trustee as designee of the Depositor and (ii) to the respective registered Owners thereofowners thereof (as designees of the Depositor), the Class C R 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 the initial purchasers thereof, a Residual Class R 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 Tax Matters Person and the Class X-IO Certificates, registered in the name of the entire net proceeds of initial purchasers thereof (all such events shall be referred to herein as 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"Closing").

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 Trust; (ii) to the Depositor, the Class C Certificates with an aggregate Percentage Interest in such Class equal to 100%, registered in the name of the ContiSecurities Holding Corporation or in such other name as the Depositor shall direct; and (iiiii) to the respective registered Owners thereof, the a Class C Certificates R-I, Class R-II and a Residual Class R Certificate of each Class, each with a Percentage Interest equal to 99.999%, registered in the name of ContiSecurities Holding Corporation and a Residual Class R-I, Class R-II and a Class R 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 11:00 a.m. New York City time on the Startup Day (the "Closing")Day, at the offices of Xxxxx Xxxxxxxxxx Stroock & Stroock & Lavan LLP, 1301 Sixth Avenue180 Maiden Lane, New York, New York 10038 (or at such other location acceptable to the Sellerothex xxxation xxxxxxxxxx xx xxx Xxxxxx), xxx Xxxxxx xxx the Conduit 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, Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Class A Certificates and Depositor), the Class B Offered Certificates with an aggregate Percentage Interest in each Class equal to 100%, % registered in the name of Cede & Co., 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 Trust Trustee as designee of the Depositor and (ii) to the respective registered Owners thereofowners thereof (as designees of the Depositor, the Seller and the Conduit Sellers), Class C R Certificates registered in the name of CHEC Residual, LLC, a Delaware limited liability company, and a Residual Certificate of each Class, each with a Percentage Interest equal to 99.999%the Class X-IO Certificates, registered in the name of ContiSecurities Holding Corporation and CHEC Residual, LLC, a Residual Certificate of each Class, each with a Percentage Interest equal Delaware limited liability company (all such events shall be referred to 0.001%, registered in herein as 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"Closing"). END OF ARTICLE IV

Sale of Certificates. At 11:00 11 a.m. New York City time on the Startup Day (the "Closing"), at the offices of Xxxxx Xxxxxxxxxx LLPXxxxxxxxxx, 1301 Sixth AvenueAvenue of the Americas, 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 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 Trust and Trustee, (ii) to the respective registered Owners thereof, a Class A-11IO Certificate with a Percentage Interest equal to 100% registered in the name of ContiSecurities Asset Funding II, L.L.C. and (iii) to the respective registered Owners thereof, a Class C Certificates and Certificate with a Residual Percentage Interest equal to 100%, registered in the name of ContiSecurities Asset Funding II, L.L.C., a Class R Certificate of each Class, each with a Percentage Interest equal to 99.999%, registered in the name of ContiSecurities Holding Corporation Asset Funding II, L.L.C. and a Residual Class R Certificate of each Class, each with a Percentage Interest equal to 0.001.001%, 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 11:00 a.m. New York City time on the Startup Day (the "Closing"), at the offices of Xxxxx Xxxxxxxxxx Dewey Ballantine LLP, 1301 Sixth Avenue, New York, New York (or at such other location xxxx xxxxx xxxxxion 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 11:00 a.m. New York City time on the Startup Day (the "Closing"), at the offices of Xxxxx Xxxxxxxxxx & Xxxx LLP, 1301 Sixth AvenueOne World Trade Center, New York, New York (or at such other location acceptable to the Seller), the Sellers Seller will sell and convey the Home Equity Mortgage Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will sell and convey the Home Equity Mortgage 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 Trustee for the Depositor, and (ii) to the respective registered Owners owners thereof, the a Class C Certificates X-1 Certificate and a Residual Certificate of each ClassClass X-2 Certificate, each with a Percentage Interest equal to 100%, registered in the name of the Seller, a Class R Certificate with a Percentage Interest equal to 99.999%, registered in the name of ContiSecurities Holding Corporation the Seller and a Residual Class R Certificate of each Class, each with a Percentage Interest equal to 0.001.001%, registered in the name of ContiFunding Corporationthe Trustee. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A 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 11:00 a.m. New York City time on the Startup Day (the "Closing")Day, at the offices of Xxxxx Xxxxxxxxxx Stroock & Stroock & Lavan LLP, 1301 Sixth Avenue180 Maiden Lane, New York, New York 10038 (or at such other location acceptable to the Sellersucx xxxer locxxxxx xxxxxxxxxx xx xxx Xxxxxx), xxx Xxxxer and the Sellers 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 sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Class A Certificates and Depositor), the Class B Offered Certificates with an aggregate Percentage Interest in each Class equal to 100%, % registered in the name of Cede & Co., 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 Trust Trustee as designee of the Depositor and (ii) to the respective registered Owners thereofowners thereof (as designees of the Depositor, the Seller and the Conduit Seller), Class C R Certificates registered in the name of CHEC Residual Corporation, a Nevada corporation, and a Residual Certificate of each Class, each with a Percentage Interest equal to 99.999%the Class X-IO Certificates, registered in the name of ContiSecurities Holding Corporation and CHEC Residual Corporation, a Residual Certificate of each Class, each with a Percentage Interest equal Nevada corporation (all such events shall be referred to 0.001%, registered in herein as 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"Closing"). END OF ARTICLE IV

Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day (the "Closing"), at the offices of Xxxxxx & Xxxxxxx, 000 Xxxxx Xxxxxxxxxx LLPXxxxxx, 1301 Sixth AvenueXxxxx 0000, New YorkXxx Xxxx, New York Xxx Xxxx (or at such other location acceptable to the SellerSellers), the Sellers will sell and convey the Home Equity Mortgage Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will sell and convey the Home Equity Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will deliver (i) to the Underwriters Underwriter 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 Underwriter shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trust Trustee for the Depositor, and (ii) to the respective registered Owners owners thereof, the a Class C Certificates X-1 Certificate and a Residual Certificate of each ClassClass X-2 Certificate, each with a Percentage Interest equal to 99.99986.9994%, registered in the name of ContiSecurities Holding Corporation the Ocwen Federal Bank FSB and a Residual Class X-1 Certificate of each Classand a Class X-2 Certificate, each with a Percentage Interest equal to 0.00113.0006%, registered in the name of ContiFunding CorporationLMAC, Inc., and (iii) a Class R Certificate with a Percentage Interest in each component interest thereof equal to 86.9985%, registered in the name of the Ocwen Federal Bank FSB, a Class R Certificate with a Percentage Interest in each component interest thereof equal to 13.0005% registered in the name of LMAC, Inc. and a Class R Certificate with a Percentage Interest in each component interest thereof equal to .001%, registered in the name of the Trustee. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A 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 IVV

Sale of Certificates. At 11:00 11 a.m. New York City time on the Startup Day (the "Closing"), at the offices of Xxxxx Xxxxxxxxxx LLPDewey Ballantine, 1301 Sixth AvenueAvenue of the Americas, New York, New York (or at such other location xx xxxx xxxxx xocation 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 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 Trust Trustee and (ii) to the respective registered Owners thereof, the a Class C Certificates and Certificate with a Residual Percentage Interest equal to 100%, registered in the name of ContiSecurities Asset Funding II, L.L.C., a Class R Certificate of each Class, each with a Percentage Interest equal to 99.999%, registered in the name of ContiSecurities Holding Corporation Asset Funding II, L.L.C. and a Residual Class R Certificate of each Class, each with a Percentage Interest equal to 0.001.001%, 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 11:00 a.m. New York City time on the Startup Day (the "Closing")Day, at the offices of Xxxxx Xxxxxxxxxx XxXxx Xxxxxx LLP, 1301 Sixth AvenueXxx Xxxxxxx Xxxx Xxxxx, New York00xx Xxxxx, New York Xxx Xxxx, Xxx Xxxx 00000 (or at such other location acceptable to the Seller), the Sellers 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 sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), the Offered Certificates (other than the Class A Certificates M-8 and the Class B Certificates M-9 Certificates) with an aggregate Percentage Interest in each Class equal to 100%, % registered in the name of Cede & Co., 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 Trust Trustee as designee of the Depositor and (ii) to the respective registered Owners thereofowners thereof (as designees of the Depositor and the Seller), the Class C M-8 Certificates and a registered in the name of Cede & Co., the Class M-9 Certificates registered in the name of Cede & Co., the Class R Certificates registered in the name of Nationstar Residual Certificate of each ClassLLC, each with a Percentage Interest equal to 99.999%the Class X-IO Certificates, registered in the name of ContiSecurities Holding Corporation Nationstar Residual LLC, a Delaware limited liability company, and a Residual Certificate of each Class, each with a Percentage Interest equal to 0.001%the Class P Certificates, registered in the name of ContiFunding Corporation. Upon Nationstar Residual LLC, a Delaware limited liability company (all such events shall be referred to herein as 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“Closing”). END OF ARTICLE IV

Sale of Certificates. At 11:00 __ a.m. New York City time on the Startup Day (the "Closing"), at the offices of Xxxxx Xxxxxxxxxx & Xxxx LLP, 1301 Sixth AvenueOne World Trade Center, New York, New York (or at such other location acceptable to the Seller), the Sellers Seller will sell and convey the Home Equity Mortgage Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will sell and convey the Home Equity Mortgage 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 Trustee, and (ii) to the respective registered Owners owners thereof, the a Class C Certificates X-1 Certificate and a Residual Certificate of each ClassClass X-2 Certificate, each with a Percentage Interest equal to 100%, registered in the name of the Seller, a Class R Certificate with a Percentage Interest equal to 99.999%, registered in the name of ContiSecurities Holding Corporation the Seller and a Residual Class R Certificate of each Class, each with a Percentage Interest equal to 0.001.001%, registered in the name of ContiFunding Corporationthe Trustee. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A 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 11:00 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 Trust, (ii) to the respective registered Owners thereofContiSecurities Holding Corporation, the Class C Certificates and with a Percentage Interest equal to 100%, (iii) to ContiSecurities Holding Corporation, a Residual Certificate of each Class, each with a Percentage Interest equal to 99.999%, registered in the name of ContiSecurities Holding Corporation and (iv) to ContiFunding Corporation, 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