Premium Recapture. With respect to any Mortgage Loan without Prepayment Penalties that prepays in full during the first 90 days following the related Closing Date, and with respect to any Mortgage Loan that is repurchased pursuant to Subsection 9.04, the Seller shall pay the Purchaser, within 30 calendar days after giving notice of such prepayment in full or repurchase, an amount equal to the excess of the Purchase Price Percentage for such Mortgage Loan over par, multiplied by the outstanding principal balance of such Mortgage Loan as of the related Cut-off Date.
Premium Recapture. With respect to any Mortgage Loan without Prepayment Penalties that prepays in full during the first three months following the Closing Date, the Seller shall pay the Purchaser, within three (3) Business Days after such prepayment in full, an amount equal to the excess of the Purchase Price Percentage for such Mortgage Loan over par, multiplied by the outstanding principal balance of such Mortgage Loan as of the related Cut-off Date.
Premium Recapture. With respect to any Mortgage Loan without prepayment penalties that prepays in full during the first six months following the related Closing Date, the Seller shall pay the Purchaser, within seven (7) Business Days after Purchaser notifies such Seller in writing (with backup documentation) of such prepayment, such prepayment in full, an amount equal to the excess of the Purchase Price Percentage for such Mortgage Loan over par, multiplied by the outstanding principal balance of such Mortgage Loan as of the related Cut-off Date.
Premium Recapture. With respect to any Mortgage Loan without a prepayment penalty, in the event that any such Mortgage Loan prepays in full during the first three months following the related Closing Date, the Seller shall pay the Purchaser, within ten (10) Business Days of such prepayment in full, an amount equal to the product of the applicable percentage of par as stated in the related Purchase Price and Terms Agreement (subject to adjustment as provided therein) and the Stated Principal Balance of such Mortgage Loan as of the related Cut-off Date; provided, however, that the Purchaser must request in writing that Seller pay such amount within six (6) months of the related Closing Date.
Premium Recapture. With respect to any Mortgage Loan without prepayment penalties that prepays in full on or prior to the related Closing Date or during the first sixty (60) days following the related Closing Date, the Seller shall pay the Purchaser, within thirty (30) Business Days after such prepayment in full or repurchase, an amount equal to the excess of the Purchase Price Percentage for such Mortgage Loan over par, multiplied by the outstanding principal balance of such Mortgage Loan as of the related Cut-off Date. Notwithstanding anything contained herein to the contrary, Seller shall not be required to reimburse any applicable premium with respect to any Mortgage Loan that prepays in full during the time periods specified in this Subsection 7.05 unless Purchaser provides written notification of the prepayment in full within ninety (90) days of the Purchaser's receipt of notice of such prepayment in full.
Premium Recapture. ARTICLE X
Premium Recapture. 42 SECTION 8. CLOSING......................................................42
Premium Recapture. With respect to any Mortgage Loan that prepays in full during the first month following the Closing Date, the Seller shall pay the Purchaser, within three (3) business days after such prepayment in full, (a) with respect to any Mortgage Loan without a prepayment penalty, an amount equal to the difference between (i) the Purchase Price for such Mortgage Loan and (ii) the outstanding principal balance of such Mortgage Loan as of the cut-off date, and (b) with respect to any Mortgage Loan with a prepayment penalty, an amount equal to the difference between (i) the Purchase Price for such Mortgage Loan and (ii) the sum of (x) the outstanding principal balance of such Mortgage Loan as of the cut-off date and (y) the prepayment penalty contractually due. This premium protection will be assignable.
Premium Recapture. Subsection 7.06 Representations and Warranties Regarding the Purchaser........
Premium Recapture. Should any Borrower prepay a Subprime Loan during the twelve month period following Countrywide’s purchase of the loan, Seller shall reimburse Countywide, upon demand, some or all of the purchase price premium above par paid by Countrywide. The reimbursement shall be calculated using the following formula for “Spot” commitments and “Pool” commitments unless stated otherwise in the “Pool” commitment letter: Purchase Price Premium paid by Countrywide x 12 minus the number of months expired since the date of purchase 12 – Prepay Penalty = Premium Refund
