Initial Mortgage Loans definition

Initial Mortgage Loans. The Mortgage Loans included in the Trust as of the Closing Date.

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

Initial Mortgage Loans means the Mortgage Loans acquired by the Trust on the Closing Date identified on Exhibit A.

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.

• 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 (i) the aggregate Stated Principal Balance of the Initial Mortgage Loans and the Additional Mortgage Loans as of the related Cut-off Date and (ii) the Original Pre-Funded Amounts, the Servicer may purchase, in whole, from the Trust the Mortgage Loans at a purchase price determined as provided in the Agreement.

• 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.

• 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 Amount, the Master Servicer may purchase, in whole, from the Trust the Mortgage Loans at a purchase price determined as provided in the Agreement.

More Definitions of 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 portfolio of residential first Mortgage Loans and their Related Security to be sold and assigned by the Seller to the Mortgages Trustee on the Initial Closing Date pursuant to the Mortgage Sale Agreement;

Initial Mortgage Loans. The Mortgage Loans to be conveyed to the Trust by the Company on the Startup Day.

Initial Mortgage Loans. The Mortgage Loans delivered by 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.

Initial Mortgage Loans shall be replaced by "Subsequent Mortgage Loans" and references to "Closing Date" shall be replaced by "Subsequent Transfer Date."