Common use of Sale of Certificates Clause in Contracts

Sale of Certificates. At 10:00 a.m. Eastern Time on the Startup Day, at the offices of ▇▇▇▇▇ & ▇▇▇▇▇▇ LLP, ▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇.▇., ▇▇▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇, the Seller will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriters the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, and (ii) deliver to First Alliance Portfolio Services, Inc. a Class R Certificate, with a Percentage Interest equal to 100%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Seller shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to the sum of the Group I Original Capitalized Interest Amount and the Group II Original Capitalized Interest Amount in the Capitalized Interest Account contributed by the Seller out of such proceeds or otherwise,(b) pay any fees and expenses identified by the Seller and (c) pay to the Seller the balance after deducting such amounts. The Seller shall pay directly to the Certificate Insurer the Initial Premium.

Sale of Certificates. At 10:00 a.m. Eastern Time on the Startup Day, at the offices of ▇▇▇▇▇ & ▇▇▇▇▇▇ LLP, ▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇.▇., ▇▇▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇, the Seller will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriters Underwriter the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters Underwriter shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, and (ii) deliver to First Alliance Portfolio Services, Inc. a Class R Certificate, with a Percentage Interest equal to 100%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Seller shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to the sum of the Group I Original Capitalized Interest Amount and the Group II Original Capitalized Interest Amount in the Capitalized Interest Account contributed by the Seller out of such proceeds or otherwise,(b) pay any fees and 203968.5d expenses identified by the Seller and (c) pay to the Seller the balance after deducting such amounts. The Seller shall pay directly to the Certificate Insurer the Initial Premium.

Sale of Certificates. At 10:00 a.m. Eastern Time on the Startup Day, at the offices of Arter & Hadden LLP, 1801 K Street, N.W., Washington, D.C. 20006, the S▇▇▇▇▇ & wi▇▇ ▇▇▇l and ▇▇▇▇▇▇ LLP, ▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇.▇., ▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇.▇. ▇▇▇▇▇, the Seller will sell and convey the Mortgage Loans and the money, instruments struments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriters Underwriter the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters Underwriter shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, and (ii) deliver to First Alliance Portfolio Services, Inc. a Class R Certificate, with a Percentage Interest equal to 100%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Seller shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to the sum of the Group I Original Capitalized Interest Amount and the Group II Original Capitalized Interest Amount in the Capitalized Interest Account contributed by the Seller out of such proceeds or otherwise,(b) pay any fees and expenses identified by the Seller and (c) pay to the Seller the balance after deducting such amounts. The Seller shall pay directly to the Certificate Insurer the Initial Premium.

Sale of Certificates. At 10:00 a.m. Eastern Time on the Startup Day, at the offices of Arter & Hadden LLP, 1801 K Street, N.W., Washington, D.C. 20006, the S▇▇▇▇▇ & wi▇▇ ▇▇▇l and ▇▇▇▇▇▇ LLP, ▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇.▇., ▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇.▇. ▇▇▇▇▇, the Seller will sell and convey the Mortgage Loans and the money, instruments struments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriters Underwriter the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters Underwriter shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, and (ii) deliver to First Alliance Portfolio Services, Inc. a Class R Certificate, with a Percentage Interest equal to 100%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Seller shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to the sum of the Group I Original Capitalized Interest Amount and the Group II Original Capitalized Interest Amount in the Capitalized Interest Account contributed by the Seller out of such proceeds or otherwise,(botherwise, (b) pay any fees and expenses identified by the Seller and (c) pay to the Seller the balance after deducting such amounts. The Seller shall pay directly to the Certificate Insurer the Initial Premium.

Sale of Certificates. At 10:00 a.m. Eastern Time on the Startup Day, at the offices of ▇▇▇▇▇ & ▇▇▇▇▇▇ LLP, ▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇.▇., ▇▇▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇, the Seller will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriters Underwriter the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters Underwriter shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, and (ii) deliver to First Alliance Portfolio Services, Inc. a Class R Certificate, with a Percentage Interest equal to 100%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Seller shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to the sum of the Group I Original Capitalized Interest Amount and the Group II Original Capitalized Interest Amount in the Capitalized Interest Account contributed by the Seller out of such proceeds or otherwise,(b) pay any fees and expenses identified by the Seller and (c) pay to the Seller the balance after deducting such amounts. The Seller shall pay directly to the Certificate Insurer the Initial Premium.