Effect of Auction of Ginnie Mae MSR Assets Sample Clauses


Effect of Auction of Ginnie Mae MSR Assets. If Purchaser is topped as the “stalking horse” bidder at completion of the auction (if any) for the Ginnie Mae MSR Assets, then the Escrow Agent shall deliver 8.44% of the Cash Deposit to Purchaser in accordance with the Deposit Escrow Agreement no later than the Business Day immediately following the completion of the Ginnie Mae MSR auction.