Common use of Termination upon Liquidation or Purchase of all Loans Clause in Contracts

Termination upon Liquidation or Purchase of all Loans. Subject to Section 9.03, the obligations and responsibilities of the Depositor, the Servicer and the Trustee created hereby with respect to the Trust Fund shall terminate upon the earlier of (a) subject to the last sentence of this Section 9.01, the purchase by the Servicer of all Loans (and REO Properties) remaining in the Trust Fund at a price equal to the sum of (i) 100% of the Stated Principal Balance of each Loan plus accrued and unpaid interest thereon at the applicable Pass-Through Rate and (ii) 100% of the Stated Principal Balance of each Loan related to any REO Property plus accrued and unpaid interest thereon at the applicable Pass-Through Rate or (b) the later of (i) the maturity or other liquidation (or any Advance with respect thereto) of the last Loan remaining in the Trust Fund and the disposition of all REO Property and (ii) the distribution to Certificateholders of all amounts required to be distributed to them pursuant to this Agreement. In no event shall the trusts created hereby continue beyond the earlier of (i) the expiration of 21 years from the death of the survivor of the descendants of Jxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. Jxxxx, living on the date hereof or (ii) the Latest Possible Maturity Date. The right to purchase all Loans and REO Properties pursuant to clause (a) above shall be conditioned upon the Pool Principal Balance, at the time of any such repurchase, aggregating less than or equal to five percent (5%) of the aggregate Cut-off Date Principal Balance of the Loans.

Termination upon Liquidation or Purchase of all Loans. Subject to Section 9.03, the obligations and responsibilities of the Depositor, the Servicer and the Trustee created hereby with respect to the Trust Fund shall terminate upon the earlier of (a) subject to the last sentence of this Section 9.01, the purchase by the Servicer of all Loans (and REO Properties) remaining in the Trust Fund at a price equal to the sum of (i) 100% of the Stated Principal Balance of each Loan plus accrued and unpaid interest thereon at the applicable Pass-Through Rate and (ii) 100% of 77 the Stated Principal Balance of each Loan related to any REO Property plus accrued and unpaid interest thereon at the applicable Pass-Through Rate or (b) the later of (i) the maturity or other liquidation (or any Advance with respect thereto) of the last Loan remaining in the Trust Fund and the disposition of all REO Property and (ii) the distribution to Certificateholders of all amounts required to be distributed to them pursuant to this Agreement. In no event shall the trusts created hereby continue beyond the earlier of (i) the expiration of 21 years from the death of the survivor of the descendants of Jxxxxx Xxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. JxxxxXxxxx, living on the date hereof or (ii) the Latest Possible Maturity Date. The right to purchase all Loans and REO Properties pursuant to clause (a) above shall be conditioned upon the Pool Principal Balance, at the time of any such repurchase, aggregating less than or equal to five percent (5%) of the aggregate Cut-off Date Principal Balance of the Loans.

Termination upon Liquidation or Purchase of all Loans. Subject to Section 9.03, the obligations and responsibilities of the Depositor, the Servicer and the Trustee created hereby with respect to the Trust Fund shall terminate upon the earlier of (a) subject to the last sentence of this Section 9.01, the purchase by the Servicer of all Loans (and REO Properties) remaining in the Trust Fund at a price equal to the sum of (i) 100% of the Stated Principal Balance of each Loan plus accrued and unpaid interest thereon at the applicable Pass-Through Rate and (ii) 100% of the Stated Principal Balance of each Loan related to any REO Property plus accrued and unpaid interest thereon at the applicable Pass-Through Rate or and (b) the later of (i) the maturity or other liquidation (or any Advance with respect thereto) of the last Loan remaining in the Trust Fund and the disposition of all REO Property and (ii) the distribution to Certificateholders of all amounts required to be distributed to them pursuant to this Agreement. In no event shall the trusts created hereby continue beyond the earlier of (i) the expiration of 21 years from the death of the survivor of the descendants of Jxxxxx Xxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. JxxxxXxxxx, living on the date hereof or and (ii) the Latest Possible Maturity Date. The right to purchase all Loans and REO Properties pursuant to clause (a) above shall be conditioned upon the Pool Principal Balance, at the time of any such repurchase, aggregating less than or equal to five percent (5%) of the aggregate Cut-off Date Principal Balance of the Loans.

Termination upon Liquidation or Purchase of all Loans. Subject to Section 9.03, the obligations and responsibilities of the Depositor, the Servicer and the Trustee created hereby with respect to the Trust Fund shall terminate upon the earlier of (a) subject to the last sentence of this Section 9.01, the purchase by the Servicer of all Loans (and REO Properties) remaining in the Trust Fund at a price equal to the sum of (i) 100% of the Stated Principal Balance of each Loan plus accrued and unpaid interest thereon at the applicable Pass-Through Rate and (ii) 100% of the Stated Principal Balance of each Loan related to any REO Property plus accrued and unpaid interest thereon at the applicable Pass-Through Rate or (b) the later of (i) the maturity or other liquidation (or any Advance with respect thereto) of the last Loan remaining in the Trust Fund and the disposition of all REO Property and (ii) the distribution to Certificateholders of all amounts required to be distributed to them pursuant to this Agreement. In no event shall the trusts created hereby continue beyond the earlier of (i) the expiration of 21 years from the death of the survivor of the descendants of Jxxxxx Xxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. JxxxxXxxxx, living on the date hereof or (ii) the Latest Possible Maturity Date. The right to purchase all Loans and REO Properties pursuant to clause (a) above shall be conditioned upon the Pool Principal Balance, at the time of any such repurchase, aggregating less than or equal to five percent (5%) of the aggregate Cut-off Date Principal Balance of the Loans.