Common use of Procedure Upon Optional Termination Clause in Contracts

Procedure Upon Optional Termination. (a) In case of any Optional Termination pursuant to Section 11.01, Olympus shall, at least twenty days prior to the date notice is to be mailed to the affected Certificateholders notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. (b) Any purchase of the Mortgage Loans by Olympus shall be made on an Optional Termination Date by deposit of the applicable purchase price into the Certificate Account, as applicable, before the Distribution Date on which such purchase is effected. Upon receipt by the Trust Administrator of an Officer's Certificate of Olympus certifying as to the deposit of such purchase price into the Certificate Account, the Trust Administrator and each co-trust administrator and separate trust administrator, if any, then acting as such under this Agreement, shall, upon request and at the expense of Olympus execute and deliver all such instruments of transfer or assignment, in each case without recourse, as shall be reasonably requested by Olympus to vest title in Olympus in the Mortgage Loans so purchased and shall transfer or deliver to Olympus the purchased Mortgage Loans. Any distributions on the Mortgage Loans which have been subject to an Optional Termination received by the Trustee subsequent to (or with respect to any period subsequent to) the Optional Termination Date shall be promptly remitted by it to Olympus.

Procedure Upon Optional Termination. (a) In case of any Optional Termination pursuant to Section 11.01, Olympus shall, at least twenty days prior to the date notice is to be mailed to the affected Certificateholders notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. (b) Any purchase of the Mortgage Loans by Olympus shall be made on an Optional Termination Date by deposit of the applicable purchase price into the Certificate Account, as applicable, before the Distribution Date on which such purchase repurchase is effected. Upon receipt by the Trust Administrator of an Officer's Certificate of Olympus certifying as to the deposit of such purchase price into the Certificate Account, the Trust Administrator and each co-trust administrator and separate trust administrator, if any, then acting as such under this Agreement, shall, upon request and at the expense of Olympus execute and deliver all such instruments of transfer or assignment, in each case without recourse, as shall be reasonably requested by Olympus to vest title in Olympus in the Mortgage Loans so purchased and shall transfer or deliver to Olympus the purchased Mortgage Loans. Any distributions on the Mortgage Loans which have been subject to an Optional Termination received by the Trustee subsequent to (or with respect to any period subsequent to) the Optional Termination Date shall be promptly remitted by it to Olympus.

Procedure Upon Optional Termination. (a) In case of any Optional Termination pursuant to Section 11.01, Olympus shall, at least twenty days prior to the date notice is to be mailed to the affected Certificateholders notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. (b) Any purchase of the Mortgage Loans by Olympus shall be made on an Optional Termination Date by deposit of the applicable purchase price into the Certificate Account, as applicable, before the Distribution Date on which such purchase repurchase is effected. Upon receipt by the Trust Administrator Trustee of an Officer's Certificate of Olympus certifying as to the deposit of such purchase price into the Certificate Account, the Trust Administrator Trustee and each co-trust administrator trustee and separate trust administratortrustee, if any, then acting as such under this Agreement, shall, upon request and at the expense of Olympus execute and deliver all such instruments of transfer or assignment, in each case without recourse, as shall be reasonably requested by Olympus to vest title in Olympus in the Mortgage Loans so purchased and shall transfer or deliver to Olympus the purchased Mortgage Loans. Any distributions on the Mortgage Loans which have been subject to an Optional Termination received by the Trustee subsequent to (or with respect to any period subsequent to) the Optional Termination Date shall be promptly remitted by it to Olympus.

Procedure Upon Optional Termination. (a) In case of any Optional Termination pursuant to Section 11.01, Olympus shall, at least twenty days prior to the date notice is to be mailed to the affected Certificateholders notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. (b) Any purchase of the Mortgage Loans by Olympus shall be made on an Optional Termination Date by deposit of the applicable purchase price into the Certificate Account, as applicable, before the Distribution Date on which such purchase is effected. Upon receipt by the Trust Administrator of an Officer's ’s Certificate of Olympus certifying as to the deposit of such purchase price into the Certificate Account, the Trust Administrator and each co-trust administrator and separate trust administrator, if any, then acting as such under this Agreement, shall, upon request and at the expense of Olympus execute and deliver all such instruments of transfer or assignment, in each case without recourse, as shall be reasonably requested by Olympus to vest title in Olympus in the Mortgage Loans so purchased and shall transfer or deliver to Olympus the purchased Mortgage Loans. Any distributions on the Mortgage Loans which have been subject to an Optional Termination received by the Trustee subsequent to (or with respect to any period subsequent to) the Optional Termination Date shall be promptly remitted by it to Olympus.

Procedure Upon Optional Termination. (a) In case of any Optional Termination pursuant to Section 11.0110.01, Olympus shall, at least twenty days prior to the date notice is to be mailed to the affected Certificateholders notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. (b) Any purchase of the Mortgage Loans by Olympus shall be made on an Optional Termination Date by deposit of the applicable purchase price into the Certificate Account, as applicable, before the Distribution Date on which such purchase repurchase is effected. Upon receipt by the Trust Administrator Trustee of an Officer's Certificate of Olympus certifying as to the deposit of such purchase price into the Certificate Account, the Trust Administrator Trustee and each co-trust administrator and separate trust administrator, if any, then acting as such under this Agreement, shall, upon request and at the expense of Olympus execute and deliver all such instruments of transfer or assignment, in each case without recourse, as shall be reasonably requested by Olympus to vest title in Olympus in the Mortgage Loans so purchased and shall transfer or deliver to Olympus the purchased Mortgage Loans. Any distributions on the Mortgage Loans which have been subject to an Optional Termination received by the Trustee subsequent to (or with respect to any period subsequent to) the Optional Termination Date shall be promptly remitted by it to Olympus.

Procedure Upon Optional Termination. (a) In case of any Optional Termination pursuant to Section 11.01, Olympus shall, at least twenty days prior to the date notice is to be mailed to the affected Certificateholders notify the Trustee and Trust Administrator of such Optional Termination Date and of the applicable purchase price of the Mortgage Loans to be purchased. (b) Any purchase of the Mortgage Loans by Olympus shall be made on an Optional Termination Date by deposit of the applicable purchase price into the Certificate Account, as applicable, before the Distribution Date on which such purchase repurchase is effected. Upon receipt by the Trust Administrator of an Officer's Certificate of Olympus certifying as to the deposit of such purchase price into the Certificate Account, the Trust Administrator and each co-trust administrator and separate trust administrator, if any, then acting as such under this Agreement, shall, upon request and at the expense of Olympus execute and deliver all such instruments of transfer or assignment, in each case without recourse, as shall be reasonably requested by Olympus to vest title in Olympus in the Mortgage Loans so purchased and shall transfer or deliver to Olympus the purchased Mortgage Loans. Any distributions on the Mortgage Loans which have been subject to an Optional Termination received by the Trustee subsequent to (or with respect to any period subsequent to) the Optional Termination Date shall be promptly remitted by it to Olympus.