Common use of Failure to Maintain Balance Clause in Contracts

Failure to Maintain Balance. If, at any time, Seller fails to maintain in the Wire-out Account a minimum balance of $0.00 as required hereunder and under the Custodial Agreement, Buyer shall have the right to immediately stop entering into Transactions with Seller that would require amounts from the Wire-out Account until such time as Seller has made an appropriate deposit into the Wire-out Account such that a minimum balance of $0.00 is on deposit in the Wire-out Account as required hereunder and the Custodial Agreement.

Appears in 2 contracts

Samples: Master Repurchase Agreement (Pennymac Financial Services, Inc.), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)

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Failure to Maintain Balance. If, at any time, Seller or Guarantor fails to maintain in the Wire-out Account a minimum balance of $0.00 as required hereunder and under the Custodial Disbursement Agent and Account Bank Agreement, Buyer shall have the right to immediately stop entering into Transactions with Seller that would require amounts from the Wire-out Account until such time as Seller or Guarantor has made an appropriate deposit into the Wire-out Account such that a minimum balance of $0.00 is on deposit in the Wire-out Account as required hereunder and the Custodial Disbursement Agent and Account Bank Agreement.

Appears in 2 contracts

Samples: Master Repurchase Agreement (UWM Holdings Corp), Master Repurchase Agreement (Caliber Home Loans, Inc.)

Failure to Maintain Balance. If, at any time, Seller or Guarantor fails to maintain in the Wire-out Account a minimum balance of $0.00 as required hereunder and under the Custodial and Disbursement Agreement, Buyer shall have the right to immediately stop entering into Transactions with Seller that would require amounts from the Wire-out Account until such time as Seller or Guarantor has made an appropriate deposit into the Wire-out Account such that a minimum balance of $0.00 is on deposit in the Wire-out Account as required hereunder and the Custodial and Disbursement Agreement.

Appears in 2 contracts

Samples: Master Repurchase Agreement (Home Point Capital Inc.), Master Repurchase Agreement (Home Point Capital Inc.)

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Failure to Maintain Balance. If, at any time, Seller fails to maintain in the Wire-out Account a minimum balance of $0.00 as required hereunder and under the Custodial Disbursement Agent Agreement, Buyer shall have the right to immediately stop entering into Transactions with Seller that would require amounts from the Wire-out Account until such time as Seller has made an appropriate deposit into the Wire-out Account such that a minimum balance of $0.00 is on deposit in the Wire-out Account as required hereunder and the Custodial Disbursement Agent Agreement.

Appears in 1 contract

Samples: Master Repurchase Agreement (Caliber Home Loans, Inc.)

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