Conveyance of the Subsequent Mortgage Loans. (a) Subject to the conditions set forth in paragraph (b) below in consideration of the Trustee's delivery on the Subsequent Transfer Dates to or upon the order of the Depositor of all or a portion of the balance of funds in the Pre-Funding Account, the Depositor shall on any Subsequent Transfer Date sell, transfer, assign, set over and convey without recourse to the Trust Fund but subject to the other terms and provisions of this Agreement all of the right, title and interest of the Depositor in and to (i) the Subsequent Mortgage Loans identified on the Mortgage Loan Schedule attached to the related Subsequent Transfer Instrument delivered by the Depositor on such Subsequent Transfer Date, (ii) principal due and interest accruing on the Subsequent Mortgage Loans after the related Subsequent Cut-off Date and (iii) all items with respect to such Subsequent Mortgage Loans to be delivered pursuant to Section 2.01 and the other items in the related Mortgage Files; PROVIDED, HOWEVER, that the Depositor reserves and retains all right, title and interest in and to principal received and interest accruing on the Subsequent Mortgage Loans prior to the related Subsequent Cut-off Date. The transfer to the Trustee for deposit in the Mortgage Pool by the Depositor of the Subsequent Mortgage Loans identified on the Mortgage Loan Schedule shall be absolute and is intended by the Depositor, the Master Servicer, the Trustee and the Certificateholders to constitute and to be treated as a sale of the Subsequent Mortgage Loans by the Depositor to the Trust Fund. The related Mortgage File for each Subsequent Mortgage Loan shall be delivered to the Trustee at least three Business Days prior to the related Subsequent Transfer Date. The purchase price paid by the Trustee from amounts released from the Pre-Funding Account shall be one-hundred percent (100%) of the aggregate Stated Principal Balance of the Subsequent Mortgage Loans so transferred (as identified on the Mortgage Loan Schedule provided by the Depositor). This Agreement shall constitute a fixed-price purchase contract in accordance with Section 860G(a)(3)(A)(ii) of the Code.
Conveyance of the Subsequent Mortgage Loans. The Trustee, or the Custodian on behalf of the Trustee, shall purchase the Subsequent Mortgage Loans as set forth in Section 2.02 of the Purchase Agreement. The Seller shall deliver a Mortgage File (as described in Section 2.01) with respect to such Subsequent Mortgage Loans.
Conveyance of the Subsequent Mortgage Loans. (a) Subject to the satisfaction of the conditions set forth in Section 3.05 and paragraphs (b) and (c) below in consideration of the Trustee's delivery on the relevant Subsequent Transfer Dates to or upon the order of the Depositor of all or a portion of the balance of funds in the Pre-Funding Account, the Depositor shall on each Subsequent Transfer Date sell, transfer, assign, set over and otherwise convey without recourse, to the Trustee, all of the Depositor's right, title and interest in and to any and all benefits accruing to the Depositor from the Subsequent Mortgage Loans (other than any principal and interest payments due thereon on or prior to the relevant Subsequent Cut-Off Date) which the Depositor will cause to be delivered to the Trustee therewith (and all substitutions therefor as provided by Sections 3.03, 3.04 and 3.06), together with the related Subsequent Mortgage Loan documents and the Depositor's interest in any Property and all payments thereon and proceeds of the conversion, voluntary or involuntary, of the foregoing and proceeds of all the foregoing (including, but not by way of limitation, all proceeds of any mortgage insurance, hazard insurance and title insurance policy relating to the Subsequent Mortgage Loans, cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, rights to payment of any and every kind, and other forms of obligations and receivables which at any time constitute all or part of or are included in the proceeds of any of the foregoing). There shall be no more than three Subsequent Transfer Dates. The transfer of the Subsequent Mortgage Loans set forth on the Schedule of Mortgage Loans by the Seller to the Depositor and by the Depositor to the Trust shall be absolute and shall be intended by the Owners and all parties hereto to be treated as a sale by the Seller to the Depositor and by the Depositor to the Trust. Any Subsequent Mortgage Loan so transferred will be included in the related Mortgage Loan Group. The amount released from the Pre-Funding Account shall be one-hundred percent (100%) of the aggregate principal balances of the Subsequent Mortgage Loans so transferred. Upon the transfer by the Depositor of the Subsequent Mortgage Loans hereunder, such Subsequent Mortgage Loans (and all principal (including Prepayments collected) and interest due thereon subsequent to the Subsequent Cut-Off Date) and all other rights and interests with respect to such ...
Conveyance of the Subsequent Mortgage Loans. (a) Subject to the satisfaction of the conditions set forth in Section 2.01 and paragraph (b) below, in consideration of the Trustee's delivery on a Subsequent Transfer Date to or upon the order of the Transferor of all or a portion of the amount in respect of Principal Collections in the Funding Account the Transferor shall, to the extent of the availability thereof, on the related Subsequent Transfer Date transfer, assign, set over and otherwise convey to the Trust without recourse (subject to Sections 2.02 and 2.04) all of its right, title and interest in and to the Asset Balances of the Subsequent Mortgage Loans and all Interest Collections and Principal Collections in respect thereof received after the Cut-Off Date for the Subsequent Mortgage Loans or, with respect to any Additional Balances with respect thereto, on or after the date of transfer to the Trust. Future advances made to a Mortgagor under a Loan Agreement relating to a Subsequent Mortgage Loan shall be part of the related Asset Balance and transferred to the Trust pursuant to this Section 2.10, and, therefore, part of the Trust property upon the sale thereof to the Transferor under the Purchase Agreement. On each Subsequent Transfer Date, the Trustee shall acknowledge that the Transferor has conveyed its right, title and interest in and to each Subsequent Mortgage Loan and to the corresponding Related Documents and certain other rights to the Trustee pursuant to this Agreement, and the Trustee shall hold such documents hereunder for the benefit of the Certificateholders.
Conveyance of the Subsequent Mortgage Loans. The Trustee shall distribute funds from the Pre-Funding Account for the purchase of the Subsequent Mortgage Loans upon the satisfaction of the conditions set forth in Section 2.02 of the Purchase Agreement. The Sponsor shall deliver a Mortgage File (as described in Section 2.01) with respect to such Subsequent Mortgage Loans.
Conveyance of the Subsequent Mortgage Loans. ..19 Section 2.4. PRE-FUNDING ACCOUNT...............................22 Section 2.5. INTEREST COVERAGE ACCOUNT.........................23 ARTICLE III
Conveyance of the Subsequent Mortgage Loans. Subject to the conditions set forth in paragraph (b) below, in consideration of the Indenture Trustee's delivery on the related Subsequent Transfer Dates to or upon the order of the Sponsor of all or a portion of the balance of funds in the Trust B Pre-Funding Account, the Sponsor shall, on Subsequent Transfer Dates, transfer, assign and convey, without recourse, to Trust B for pledge to the Indenture Trustee on behalf of the Class B Noteholders all right, title and interest of the Sponsor in and to each Subsequent Mortgage Loan listed on the Schedule of Mortgage Loans delivered by the Sponsor on such Subsequent Transfer Date, all of the Sponsor's right, title and interest in and to principal collected and interest accruing on each such Subsequent Mortgage Loan on and after
Conveyance of the Subsequent Mortgage Loans. (a) The Sponsor may, on Subsequent Transfer Dates, deliver to the Indenture Trustee loans eligible to become Subsequent Mortgage Loans on the next following Payment Date, in exchange, on such Payment Date, for monies released to the Originator pursuant to Section 8.5(b) of the Indenture, or a corresponding increase in the Originator's Interest. Upon assignment of any Pre-Funded Mortgage Loan, the Indenture Trustee shall release to the Sponsor an amount equal to the Principal Balance thereof as of the related Subsequent Cut-Off Date from amounts then on deposit in the Pre-Funding Account.
Conveyance of the Subsequent Mortgage Loans. (a) Subject to the satisfaction of the conditions set forth in Section 3.5 and paragraphs (b), (c) and (d) below (based on the
Conveyance of the Subsequent Mortgage Loans. Subject to the conditions set forth in the paragraphs below, in consideration of the Trustee's delivery on the related Subsequent Transfer Dates to or upon the order of the Seller of the Subsequent Purchase Price of the related Subsequent Mortgage Loans from amounts on deposit in the
