Common use of Purchase of Participations Clause in Contracts

Purchase of Participations. The Participant agrees to purchase from time to time from the Mortgage Originator, but only in accordance with the terms and conditions hereof, one or more loan participation certificates (the "Participation Certificates"), substantially in the form of Exhibit B hereto, each of which represents the Participant's Participation in a Mortgage Pool created by the Mortgage Originator. The principal balance of each Participation (the "Participation Principal Balance") shall be set out in the related Participation Certificate and may be increased or decreased from time to time as Mortgage Loans are added to or removed from the related Mortgage Pool or transferred between Mortgage Pools and as any portion of the principal collections with respect to the Mortgage Loans are paid to the Participant. The principal terms relating to the purchase of each Participation, including but not limited to the maximum participation percentage, the purchase price and the interest rate on the Participation Principal Balance may be set out in the terms addendum attached hereto as Exhibit B, as the same may be amended from time to time (the "Terms Addendum"). Each Participation shall bear interest on the related Participation Principal Balance at the rate specified as the "Interest Rate" on the Terms Addendum; provided, however, that from the date on which any Event of Default (defined below) shall be deemed to have occurred until the date on which the Participation is paid in full, the Participation shall bear interest at the Default Rate set forth on the Terms Addendum. The aggregate outstanding principal balance of all Participations on any day shall not exceed the amount specified as the "Maximum Participation Amount" on the Terms Addendum.

Purchase of Participations. The Participant agrees to purchase from time to time from the Mortgage Originator, but only in accordance with the terms and conditions hereof, one or more loan participation certificates (the "Participation Certificates"), substantially in the form of Exhibit B A hereto, each of which represents the Participant's Participation in a Mortgage Pool created by the Mortgage Originator. The principal balance of each Participation (the "Participation Principal Balance") shall be set out in the related Participation Certificate and may be increased or decreased from time to time as Mortgage Loans are added to or removed from the related Mortgage Pool or transferred between Mortgage Pools and as any portion of the principal collections with respect to the Mortgage Loans are paid to the Participant. The principal terms relating to the purchase of each Participation, including but not limited to the maximum participation percentage, the purchase price and the interest rate on the Participation Principal Balance may be set out in the terms addendum attached hereto as Exhibit B, as the same may be amended from time to time (the "Terms Addendum"). Each Participation shall bear interest on the related Participation Principal Balance at the rate specified as the "Interest Rate" on the Terms Addendum; provided, however, that from the date on which any Event of Default (defined below) shall be deemed to have occurred until the date on which the Participation is paid in full, the Participation shall bear interest at the Default Rate set forth on the Terms Addendum. The aggregate outstanding principal balance of all Participations on any day shall not exceed the amount specified as the "Maximum Participation Amount" on the Terms Addendum.,

Purchase of Participations. The Participant agrees to purchase from time to time from the Mortgage Originator, but only in accordance with the terms and conditions hereof, one or more loan participation certificates (the "Participation Certificates"), substantially in the form of Exhibit B A ___ hereto, each of which represents the Participant's Participation in a Mortgage Pool created Loan originated by the Mortgage Originator. The principal balance of each Participation (the "Participation Principal Balance") shall be set out in the related Participation Certificate and may be increased or decreased from time to time as Mortgage Loans are added to or removed from the related Mortgage Pool or transferred between Mortgage Pools and shall decrease as any portion of the principal collections with respect to the Mortgage Loans are paid to the Participant. The principal terms relating to the purchase of each Participation, including but not limited to the maximum participation percentage, the purchase price and the interest rate on the Participation Principal Balance may be set out in the terms addendum attached hereto as Exhibit B, as the same may be amended from time to time (the "Terms Addendum"). Each Participation shall bear interest on the related Participation Principal Balance at the rate specified as the "Interest Rate" on the Terms Addendum; provided, however, that from the date on which any Event of Default (defined below) shall sha1l be deemed to have occurred until the earlier of (i) the date on which the default is, in Participant's sole discretion, waived in writing or (ii) the date on which the Participation is paid in full, the Participation shall bear interest at the Default Rate set forth on the Terms Addendum. The aggregate outstanding principal balance of all Participations on any day shall not exceed the amount specified as the "Maximum Participation Amount" on the Terms Addendum.

Purchase of Participations. The Participant agrees to purchase from time to time from the Mortgage Originator, but only in accordance with the terms and conditions hereof, one or more loan participation certificates (the "Participation Certificates"), substantially in the form of Exhibit B A hereto, each of which represents the Participant's Participation in a Mortgage Pool created originated by the Mortgage Originator. The principal balance of each Participation (the "Participation Principal Balance") shall be set out in the related Participation Certificate and may be increased or decreased from time to time as Mortgage Loans are added to or removed from the related Mortgage Pool or transferred between Mortgage Pools and shall decrease as any portion of the principal collections with respect to the Mortgage Loans are paid to the Participant. The principal terms relating to the purchase of each Participation, including Including but not limited to the maximum participation percentage, the purchase price and the interest rate on of the Participation Principal Balance may be set out in the terms addendum attached hereto as Exhibit B, as the same may be amended from time to time (the "Terms Addendum"). Each Participation shall bear interest on of the related Participation Principal Balance at the rate specified as the "Interest Rate" on of the Terms Addendum; provided, however, that from 1from the date on of which any Event of Of Default (defined below) shall be deemed to have occurred until the earlier of (i) the date of which the default is, in Participant's sole discretion, waived in writing or (ii) the date on which the Participation is paid in full, the Participation shall bear interest at the Default Rate set forth on the Terms Addendum. The aggregate outstanding principal balance of all Participations on any day shall not exceed the amount specified as the "Maximum Participation Amount" on the Terms Addendum.

Purchase of Participations. The Participant agrees to purchase from time to -------------------------- time from the Mortgage Originator, but only in accordance with the terms and conditions hereof, one or more loan participation certificates (the "Participation Certificates"), substantially in the form of Exhibit B A hereto, --------- each of which represents the Participant's Participation in a Mortgage Pool created Loan originated by the Mortgage Originator. The principal balance of each Participation (the "Participation Principal Balance") shall be set out in the related Participation Certificate and may be increased or decreased from time to time as Mortgage Loans are added to or removed from the related Mortgage Pool or transferred between Mortgage Pools and shall decrease as any portion of the principal collections with respect to the Mortgage Loans are paid to the Participant. The principal terms relating to the purchase of each Participation, including but not limited to the maximum participation percentage, the purchase price and the interest rate on the Participation Principal Balance may be set out in the terms addendum attached hereto as Exhibit B, as the same may be --------- amended from time to time (the "Terms Addendum"). Each Participation shall bear interest on the related Participation Principal Balance at the rate specified as the "Interest Rate" on the Terms Addendum; provided, however, that from the --------- ------- date on which any Event of Default (defined below) shall be deemed to have occurred until the earlier of (i) the date on which the default is, in Participant's sole discretion, waived in writing or (ii) the date on which the Participation is paid in full, the Participation shall bear interest at the Default Rate set forth on the Terms Addendum. The aggregate outstanding principal balance of all Participations on any day shall not exceed the amount specified as the "Maximum Participation Amount" on the Terms Addendum.