Initial Mortgage Loans definition

Initial Mortgage Loans. The Mortgage Loans delivered by the Depositor on the Startup Date.

Examples of Initial Mortgage Loans in a sentence

On any Distribution Date following the date at which the remaining aggregate Principal Balance of the Mortgage Loans is less than 10% of the sum of the aggregate Principal Balance of the Initial Mortgage Loans as of the Cut-off Date plus the Original Pre-Funded Amounts, the Master Servicer may purchase, in whole, from the Trust the Mortgage Loans at a purchase price determined as provided in the Agreement.

The exercise of such right will effect early retirement of the Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Loans at the time of purchase being less than 10% of the sum of the aggregate Stated Principal Balance of the Initial Mortgage Loans at the Cut- off Date.

The Depositor hereby represents and warrants to the Trustee with respect to each Initial Mortgage Loan as of the date hereof or such other date set forth herein that as of the Closing Date, and following the transfer of the Initial Mortgage Loans to it by each Seller, the Depositor had good title to the Initial Mortgage Loans and the Mortgage Notes were subject to no offsets, defenses or counterclaims.

The Trustee makes no representations as to: (i) the validity, legality, sufficiency, enforceability or genuineness of any of the documents contained in each Mortgage File of any of the Initial Mortgage Loans identified on the [Mortgage Loan Schedule][Loan Number and Borrower Identification Mortgage Loan Schedule] or (ii) the collectibility, insurability, effectiveness or suitability of any such Mortgage Loan.

The Depositor hereby represents and warrants to the Trustee with respect to each Initial Mortgage Loan as of the date hereof or such other date set forth herein that as of the Closing Date, and following the transfer of the Initial Mortgage Loans to it by the Seller, the Depositor had good title to the Initial Mortgage Loans and the Mortgage Notes were subject to no offsets, defenses or counterclaims.


More Definitions of Initial Mortgage Loans

Initial Mortgage Loans. The Mortgage Loans to be conveyed to the Trust by the Company on the Startup Day.
Initial Mortgage Loans. Collectively, the Initial Mortgage Loans.
Initial Mortgage Loans. The Mortgage Loans transferred to the Trust on the Closing Date pursuant to Section 2.01, as set forth in Exhibit C hereto.
Initial Mortgage Loans. The Initial Mortgage Loans transferred to the Trust pursuant to Section 2.01, as set forth in Exhibit C hereto.
Initial Mortgage Loans means the Mortgage Loans transferred and assigned to the Depositor on the Closing Date.
Initial Mortgage Loans. The initial Mortgage Loans conveyed by the Depositor to the Trust Fund pursuant to Section 2.01 hereof on the Closing Date, which are listed on the Mortgage Loan Schedule on such date.