Optional Purchase of Delinquent Mortgage Loans. The Depositor, in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans from the Trust Fund. The purchase price for any such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by the Servicer. Upon receipt of such purchase price, the Servicer shall provide to the Trustee a Request for Release and the Trustee shall promptly release to the Depositor, the Mortgage File relating to the Mortgage Loan being repurchased.
Optional Purchase of Delinquent Mortgage Loans. Each of the Depositor and the Servicer, in each case in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans from the Trust Fund. During the first ten (10) days after a Mortgage Loan becomes a 90+ Delinquent Mortgage Loan, the Depositor shall have the exclusive option to purchase such 90+ Delinquent Mortgage Loan. The purchase price for any such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by the Servicer. Upon receipt of such purchase price, the Servicer shall provide to the Trustee a Request for Release and the Trustee shall promptly release to the Depositor or the Servicer, as applicable, the Mortgage File relating to the Mortgage Loan being repurchased.
Optional Purchase of Delinquent Mortgage Loans. Either (i) the applicable Servicer (or its assignee) or (ii) the Holders of a majority (by Percentage Interest) of the Class X Certificates (or, if the Class X Certificates have been pledged to secure any NIM Securities, the holders of a majority of the equity interests in the related NIM Issuer) may, at its or their option, purchase any 90+ Delinquent Mortgage Loans from the Trust by payment to the Trust of a purchase price equal to 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by the applicable Servicer; provided, however, that neither the Depositor nor any Affiliate of the Depositor may exercise the foregoing option, or have the power to direct either the Holders of the majority (by Percentage Interest) of the Class X Certificates or of the equity interests in the related NIM Issuer, as the case may be, to exercise the foregoing option, under this Section 3.27). Upon receipt of such purchase price, the applicable Servicer shall provide to the applicable Custodian a Request for Release (with a copy to the Trustee) and the applicable Custodian shall promptly release to such Servicer (or its assignee) or such Class X Certificateholders (or their designee), as applicable, the Mortgage File relating to the Mortgage Loan being repurchased. No Person holding the foregoing option under this Section 3.27 shall use any procedure in selecting Mortgage Loans to be repurchased which is materially adverse to the interests of the Certificateholders.
Optional Purchase of Delinquent Mortgage Loans. The Servicer may, at its option, purchase a Mortgage Loan serviced by it that has become 90 or more days delinquent or for which the Servicer has accepted a deed in lieu of foreclosure. Prior to any purchase pursuant to this Section 3.27, the Servicer shall be required to continue to make Advances pursuant to Section 4.01. The Servicer shall not use any procedure in selecting Mortgage Loans to be repurchased which is materially adverse to the interests of the Certificateholders. The Servicer shall purchase such delinquent Mortgage Loan at a price equal to 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Rate, net of any unreimbursed Advances owed to the Servicer (it being understood that upon such purchase, such unreimbursed Advances shall be deemed to have been reimbursed in full by the Servicer). Any such purchase of a Mortgage Loan pursuant to this Section 3.27 shall be accomplished by deposit in the Collection Account of the amount of such purchase price. Upon receipt of such purchase price, the Servicer shall provide to the Trustee a Request for Release and the Trustee shall promptly release to the Servicer, at the Servicer's expense, the Mortgage File relating to the Mortgage Loan being repurchased."
Optional Purchase of Delinquent Mortgage Loans. The Servicer may, at its option, repurchase a Mortgage Loan or REO Property which becomes ninety (90) or more days delinquent or for which the Servicer has accepted a deed-in-lieu of foreclosure. Prior to repurchase pursuant to this Section 3.27, the Servicer shall be required to continue to make monthly advances pursuant to Section 4.01. The Servicer shall purchase such delinquent Mortgage Loan at a price equal to 100% of the Stated Principal Balance of the Mortgage Loan, plus all related accrued and unpaid interest thereon at the applicable Mortgage Rate and the amount of any unreimbursed Servicing Advances made by the Servicer related to such Mortgage Loan. Any such repurchase of a Mortgage Loan or REO Property pursuant to this Section 3.27 shall be accomplished by delivery to the Trustee for deposit in the Distribution Account of the amount of the purchase price. The Trustee shall immediately effectuate the conveyance of such delinquent Mortgage Loan or REO Property to the Servicer to the extent reasonably requested by the Servicer, including the prompt delivery to the Servicer of all documentation requested and prepared by the Servicer. Notwithstanding the preceding paragraph, in the event that the Servicer thereof is the owner of more than 50% of a class of Certificates which is then currently in a first loss position and such party is deemed to be the "Primary Beneficiary" as defined in FIN 46, the Servicer may, at its option, repurchase a Mortgage Loan or REO Property which becomes 120 or more days delinquent or for which the Servicer has accepted a deed-in-lieu of foreclosure, during the period commencing on the first day of the calendar quarter succeeding the calendar quarter in which the Mortgage Loan first became 120 days delinquent and ending on the last Business Day of such calendar quarter. If the Servicer does not exercise its purchase right with respect to a Mortgage Loan during the period specified in the preceding sentence, such Mortgage Loan shall thereafter again become eligible for purchase pursuant to the preceding sentence only after the Mortgage Loan ceases to be 120 days or more delinquent and thereafter becomes 120 days delinquent again. Prior to repurchase pursuant to this Section 3.27, the Servicer shall be required to continue to make monthly advances pursuant to Section 4.01. The Servicer shall not use any procedure in selecting Mortgage Loans to be repurchased which is materially adverse to the interests of the Certificateho...
Optional Purchase of Delinquent Mortgage Loans. While the Mortgage Pool Insurance Trigger is in effect, the Mortgage Pool Insurance Company, in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans from the Trust Fund for which it has not paid a claim, regardless of whether a claim has been approved for such Mortgage Loan or a Realized Loss on such Mortgage Loan has been applied to the Deductible (as defined in the Mortgage Pool Insurance Policy), on a servicing-released basis. The purchase price for any such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan (or, in the case of a Mortgage Loan for which any Loss (as defined under the Mortgage Pool Insurance Policy) has been charged, the amount of such Loss) plus other than in the case of a Mortgage Loan for which a Loss under the Mortgage Pool Insurance Policy has been charged, accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate plus the amount of any unreimbursed Servicing Advances made by the Servicer. Any such purchase shall reduce the amount of available coverage under the Mortgage Pool Insurance Policy by the amount of such purchase price. If a Mortgage Pool Insurance Trigger is not in effect or, if a Mortgage Pool Insurance Trigger is in effect and if the Mortgage Pool Insurer does not exercise its option pursuant to this Section with respect to any Mortgage Loan, the Depositor, in its sole discretion, shall have the option, but shall not be obligated, to purchase any such 90+ Delinquent Mortgage Loan from the Trust Fund. The purchase price for any such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by the Servicer. Upon receipt of such purchase price, the Servicer shall provide to the Trustee a Request for Release and the Trustee shall promptly release to the Mortgage Pool Insurance Company or the Depositor, as applicable, the Mortgage File relating to the Mortgage Loan being repurchased.
Optional Purchase of Delinquent Mortgage Loans. Section 3.29 Transfer of Servicing for Certain Acoustic Mortgage Loans and Certain First NLC Mortgage Loans..............
Optional Purchase of Delinquent Mortgage Loans. The Depositor, in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans from the Trust Fund. In addition, the NIM Insurer, if any, in its sole discretion, shall have the right to cause the Servicer to purchase from the Trust Fund, at its expense, any REO Property that is 90 or more days delinquent. The purchase price for any such Mortgage Loan or REO Property shall be 100% of the unpaid principal balance of the related Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by the Servicer. Upon receipt of such purchase price, the Servicer Fremont 2006-D Pooling & Servicing Agreement 127 shall provide to the Trustee or Trust Administrator, as applicable, a Request for Release and the Trustee or Trust Administrator, as applicable, shall promptly release to the Depositor, the Mortgage File relating to the Mortgage Loan being repurchased.
Optional Purchase of Delinquent Mortgage Loans. ARTICLE IV
Optional Purchase of Delinquent Mortgage Loans. The applicable Servicer (or its assignee), in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans from the Trust Fund. No Servicer shall use any procedure in selecting Mortgage Loans to be repurchased which is materially adverse to the interests of the Certificateholders. The purchase price for any such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by such Servicer. Upon receipt of such purchase price, the applicable Servicer shall provide to the Trustee a Request for Release and the Trustee shall promptly release to such Servicer the Mortgage File relating to the Mortgage Loan being repurchased.
