Mortgage Loan Purchase Price. The price, calculated as set forth in Section 10.01, to be paid in connection with the repurchase of the Mortgage Loans pursuant to Section 10.01.
Mortgage Loan Purchase Price. The price, calculated as set forth in Section 11.01, to be paid in connection with the purchase of the Mortgage Loans pursuant to an Optional Termination.
Mortgage Loan Purchase Price. With respect to any Mortgage Loan required to be purchased by the Seller pursuant to Section 4.1(c) hereof, an amount equal to the sum of (i) 100% of the unpaid principal balance of the Mortgage Loan on the date of such purchase, and (ii) accrued interest thereon at the applicable Mortgage Rate from the date through which interest was last paid by the Mortgagor to the first day in the month in which the Mortgage Loan Purchase Price is to be distributed to the Purchaser or its designees.
Examples of Mortgage Loan Purchase Price in a sentence
Subject to the terms and conditions set forth in this Agreement, the Mortgage Loan Seller agrees to sell, assign, transfer and otherwise convey to the Purchaser upon receipt by the Mortgage Loan Seller (or its designee) of the Mortgage Loan Purchase Price referred to in this Section 1, and the Purchaser agrees to purchase, the Mortgage Loans.
For each first mortgage loan originated by a Lender, which is in compliance with all of the terms and conditions of the agreement between MHDC and the master servicer shall pay to the lender a purchase price equal to the Mortgage Loan Purchase Price (as defined in the Commission Notice).
On the Closing Date, upon (i) notification from the Mortgage Loan Seller that the Mortgage Loan Purchase Price referred to in Section 1 has been received by the Mortgage Loan Seller (or its designee) and (ii) the issuance of the Certificates, the Purchaser shall be authorized to release to the Certificate Administrator or its designee all of the Mortgage Files in the Purchaser’s possession relating to the Mortgage Loans.
More Definitions of Mortgage Loan Purchase Price
Mortgage Loan Purchase Price means the amount described in Section 2 of the Agreement.
Mortgage Loan Purchase Price paid by Depositor shall be equal to the amount that the Depositor and the Seller have mutually agreed upon as the Seller's share of the net securitization proceeds from the sale of the Publicly Offered Certificates and the Private Certificates as set forth in the Closing Statement (which amount includes, without limitation, accrued interest).
Mortgage Loan Purchase Price. The price, calculated as set forth in Section 9.01, to be paid in connection with the purchase of the Trust Collateral by the Auction Purchaser.
Mortgage Loan Purchase Price paid by Depositor shall be equal to $90,136,305.17 (which amount includes, without limitation, accrued interest.)
Mortgage Loan Purchase Price means the amount described in SECTION 2 of the Agreement.
Mortgage Loan Purchase Price means the price to be paid by the Servicer to a Lender for a Mortgage Loan, which shall be the percentage, of the unpaid principal balance of such Mortgage Loan as set forth in the [Rate Lock Notice], plus accrued interest to the date of purchase.
Mortgage Loan Purchase Price for any such Optional Termination shall be equal to the greater of (a) the sum of (i) 100% of the Stated Principal Balance of each Mortgage Loan (other than in respect of REO Property) plus accrued and unpaid interest thereon from the date to which such interest was paid or advanced at the applicable Mortgage Rate, to but not including the Due Date in the month of the final Distribution Date and (ii) with respect to any REO Property, the lesser of (x) the appraised value of any REO Property as determined by the higher of two appraisals completed by two independent appraisers selected by the Depositor at the expense of the Depositor and (y) the Stated Principal Balance of each related Mortgage Loan related to any REO Property, in each case and (iii) any remaining unreimbursed Monthly Advances, Servicer Advances and unpaid Servicing Fees (other than any remaining unreimbursed Monthly Advances and Servicer Advances and unpaid Servicing Fees, if any, due to the Terminating Entity) and other amounts payable to the Trustee and Trust Administrator (the sum of (i), (ii) and (iii), collectively, the “Par Value”) and (b) the Fair Market Value of all of the property of the Trust subject to such Optional Termination. The “Fair Market Value” shall be the fair market value of all of the property of the Trust subject to an Optional Termination, as agreed upon between the Terminating Entity and a majority of the holders of the Class AR-L Certificates; provided, however, that if the Terminating Entity and a majority of the holders of the Class AR-L Certificates do not agree upon the fair market value of such property of the Trust, the Terminating Entity, or (subject to the approval of the majority of the holders of the Class AR-L Certificates of such appointment, an agent appointed by the Terminating Entity and approved by the majority of the holders of the Class AR-L Certificates) shall solicit bids for such property of the Trust until it has received three bids, and the Fair Market Value shall be equal to the highest of such three bids. The Trust Administrator shall give notice to the Rating Agencies of any election to purchase Mortgage Loans pursuant to this Section and of the applicable Optional Termination Date.