Common use of Sale of Certificates Clause in Contracts

Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day, at the offices of Stroock & Stroock & ▇▇▇▇▇ LLP, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (or at such other location acceptable to the Seller), the Seller and the Conduit Sellers will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Depositor will cause the Certificate Insurance Policies to be delivered to the Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), 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 to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor, the Seller and the Conduit Sellers), Class R Certificates registered in the name of CHEC Residual Corporation, a Nevada corporation, and the Class X-IO Certificates, registered in the name of CHEC Residual Corporation, a Nevada corporation (all such events shall be referred to herein as the "Closing"). END OF ARTICLE IV

Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day, at the offices of Stroock & Stroock & ▇▇▇▇▇ LLP, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (or at such other location acceptable to the Seller), the Seller and the Conduit Sellers Seller will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Depositor will cause the Certificate Insurance Policies Policy to be delivered to the Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), 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 to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor, the Seller and the Conduit SellersSeller), Class R Certificates registered in the name of CHEC Residual Corporation, a Nevada corporationCorporation, and the Class X-IO Certificates, registered in the name of CHEC Residual Corporation, a Nevada corporation Corporation (all such events shall be referred to herein as the "Closing"). END OF ARTICLE IV

Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day, at the offices of Stroock & Stroock & ▇▇▇▇▇ LLP, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (or at such other location acceptable to the Seller), the Seller and the Conduit Sellers will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Depositor will cause the Certificate Insurance Policies to be delivered to the Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), 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 to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor, the Seller Depositor and the Conduit SellersSeller), Class R Certificates registered in the name of CHEC Residual Corporation, a Nevada corporationCorporation, and the Class X-IO Certificates, registered in the name of CHEC Residual Corporation, a Nevada corporation Corporation (all such events shall be referred to herein as the "Closing"). END OF ARTICLE IV

Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day, at the offices of Stroock & Stroock & ▇▇▇▇▇ LLP, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (or at such other location acceptable to the Seller), the Seller and the Conduit Sellers Seller will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Depositor will cause the Certificate Insurance Policies Policy to be delivered to the Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), 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 to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor, the Seller and the Conduit SellersSeller), Class R Certificates registered in the name of CHEC Residual Corporation, a Nevada corporation, and the Class X-IO Certificates, registered in the name of CHEC Residual Corporation, a Nevada corporation (all such events shall be referred to herein as the "Closing"). END OF ARTICLE IV

Sale of Certificates. At 11:00 11 a.m. New York City time on the Startup Day, at the offices of Stroock & Stroock & ▇▇▇▇▇ LLP, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (or at such other location acceptable to the Seller), the Seller and the Conduit Sellers will sell and convey the Initial Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Initial Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Depositor will cause the Certificate Insurance Policies to be delivered to the Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), 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 to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor, the Seller and the Conduit Sellers), Class R Certificates registered in the name of CHEC Residual Corporation, a Nevada corporationthe initial purchasers thereof, and the Class X-IO Certificates, registered in the name of CHEC Residual Corporation, a Nevada corporation the initial purchasers thereof (all such events shall be referred to herein as the "Closing"). END OF ARTICLE IV.