Initial Optional Purchase Date definition

Initial Optional Purchase Date. The first Distribution Date following the date on which the Aggregate Loan Balance is less than 10.00% of the Cut-off Date Balance.

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Initial Optional Purchase Date. The first Distribution Date following the date on which the Pool Balance is less than 10.00% of the Cut-off Date Balance.

Initial Optional Purchase Date. The first Distribution Date following the date on which the aggregate Stated Principal Balance is equal to or less than 1% of the aggregate Stated Principal Balance as of the Cut-off Date.

Examples of Initial Optional Purchase Date in a sentence

At any time after the Initial Optional Purchase Date, the Servicer may notify the Residual Holder in writing that the Servicer intends to purchase all of the Mortgage Loans and REO Properties for the purchase price specified in clause (i) above.
On any Distribution Date occurring on or after the Pool 1 Initial Optional Purchase Date, the Master Servicer has the option to purchase all of the Pool 1 Mortgage Loans (and related REO Properties).
On any Distribution Date occurring on or after the Initial Optional Purchase Date related to the Aggregate Group II Mortgage Loans, the Master Servicer has the option to cause the Trust Fund to adopt a plan of complete liquidation of the Aggregate Group II Mortgage Loans pursuant to Sections 7.02 and 7.03 hereof to sell all of the property related thereto.
On any Distribution Date occurring on or after the Initial Optional Purchase Date related to the Group 1 Mortgage Loans, the Master Servicer has the option to cause the Trust Fund to adopt a plan of complete liquidation of the Group 1 Mortgage Loans pursuant to Sections 7.02 and 7.03 hereof to sell all of the property related thereto.
If the Class X Certificateholder has not exercised such option by the close of business on the third Distribution Date following the Initial Optional Purchase Date, the Depositor shall have the option to cause the Trust Fund to adopt a plan of complete liquidation pursuant to Section 7.03(a)(i) hereof to sell all of its property to the Depositor at the Termination Price.

More Definitions of Initial Optional Purchase Date

Initial Optional Purchase Date. The first Distribution Date following the date on which the Aggregate Stated Principal Balance of the Aggregate Pool is less than 5% of the Aggregate Stated Principal Balance of the Aggregate Pool as of the Cut-off Date.

Initial Optional Purchase Date. The first Payment Date following the date on which the Pool Balance is less than 10.00% of the Cut-off Date Balance.

Initial Optional Purchase Date. The latest of (1) the Payment Date following the Determination Date in which the Pool Balance is less than 10.0% of the Cut-off Date Balance, (2) [ ] 20[ ] and (3) the date on which all principal and interest due and owing to the Class N Notes has been paid in full pursuant to clauses (v) through (viii) of Section 4.1(d). Insurance Fee Rate: Not applicable.

Initial Optional Purchase Date. With respect to the Group 1 Mortgage Loans, the first Distribution Date following the date on which the aggregate Stated Principal Balance of the Group 1 Mortgage Loans is equal to or less than 10% of the aggregate Stated Principal Balance thereof as of the Cut-off Date. With respect to the Combined Mortgage Loans, the first Distribution Date following the date on which the aggregate Stated Principal Balance of the Combined Mortgage Loans is equal to or less than 1% of the aggregate Stated Principal Balance thereof as of the Cut-off Date.

Initial Optional Purchase Date. The first Distribution Date following the date on which the Aggregate Collateral Balance is equal to or less than 10.00% of the Aggregate Collateral Balance as of the Initial Cut-off Date.

Initial Optional Purchase Date. The Distribution Date following the month in which the Pool Balance is less than 10.0% of the Cut-off Date Balance. Insurance Fee Rate: Not applicable.

Initial Optional Purchase Date. The first Distribution Date following the date on which the Aggregate Stated Principal Balance is less than 10.00% of the Assumed Stated Principal Balance. Initial Seller: Redwood Trust, Inc., a Maryland corporation.

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