Group II Optional Termination definition

Group II Optional Termination. The termination of the portion of the Trust Fund related to Loan Group II created hereunder as a result of the purchase of all of the Group II Mortgage Loans and any related REO Property pursuant to Section 10.01 hereof.
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Examples of Group II Optional Termination in a sentence

  • The right of the Master Servicer or the Company to purchase all the assets of the Trust Fund relating to the Group II Loans, pursuant to clause (ii) above is conditioned upon the date of such purchase occurring on or after the Group II Optional Termination Date.

  • The right of the Master Servicer to purchase all of the Group II Loans pursuant to clause (ii) above is conditioned upon the date of such purchase occurring on or after the Group II Optional Termination Date.

  • The right to repurchase all Mortgage Loans in Loan Group II and related REO Properties pursuant to the preceding paragraph shall be exercisable on or after the Group II Optional Termination Date.

  • The Master Servicer shall remit the related Mortgage Loan Purchase Price to the Securities Administrator on the Business Day prior to the Distribution Date for such Group I Optional Termination or Group II Optional Termination by the Majority Class I-C Certificateholder or Majority Class I-C Certificateholder, as applicable.

  • The Master Servicer shall remit the related Mortgage Loan Purchase Price to the Securities Administrator on the Business Day prior to the Distribution Date for such Group I Optional Termination by the Majority Class I-C Certificateholder or Group II Optional Termination by EMC or its designee, as applicable.

  • The right of the Master Servicer to purchase all the assets of the Trust Fund relating to the Group II Loans, pursuant to clause (ii) above is conditioned upon the date of such purchase occurring on or after the Group II Optional Termination Date.

  • The right of the Master Servicer or the Depositor to purchase all the assets remaining in the REMIC relating to the Group I Loans or Group II Loans, as applicable, pursuant to clause (ii) above is conditioned upon the occurrence of the Loan Group I Optional Termination Date or Loan Group II Optional Termination Date, as applicable.

  • The right of the Master Servicer or the Company to purchase all the assets of Trust Fund II pursuant to clause (ii) above is conditioned upon the date of such purchase occurring on or after the Group II Optional Termination Date.

  • On any Distribution Date on or after the Group II Optional Termination Date, the Master Servicer shall have the right, at its option, to purchase the Group A-II Certificates in whole, but not in part, at a price equal to aggregate outstanding Certificate Principal Balance of the Group A-II Certificates, plus one month's Accrued Certificate Interest on the Group A-II Certificates, any previously unpaid Accrued Certificate Interest, and any unpaid Prepayment Interest Shortfall previously allocated thereto.

  • The Master Servicer shall remit the related Mortgage Loan Purchase Price to the Securities Administrator on the Business Day prior to the Distribution Date for such Group I Optional Termination by the Majority Class I-C Certificateholder or Group II Optional Termination by the Majority Class II-C Certificateholder, as applicable.

Related to Group II Optional Termination

  • Initial Optional Termination Date The first Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is equal to or less than 10% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

  • Optional Termination Date Any Distribution Date on or after which the Stated Principal Balance (after giving effect to distributions to be made on such Distribution Date) of the Mortgage Loans is less than 10.00% of the Cut-off Date Balance.

  • Optional Termination The termination of the trust created hereunder in connection with the purchase of the Mortgage Loans pursuant to Section 9.01(a) hereof.

  • Accrual Termination Date Not applicable.

  • Additional Termination Event has the meaning specified in Section 5(b).