Income Payments. a. If Income is paid in respect of any Purchased Mortgage Loan during the term of a Transaction, such Income shall be the property of Buyer. Upon an Event of Default, Seller shall and shall cause Servicer to deposit all Income to the account set forth in Section 9, upon receipt thereof, in accordance with Section 12(c) hereof.
Appears in 3 contracts
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (Tree.com, Inc.)
Income Payments. a. If Income is paid in respect of any Purchased Mortgage Loan during the term of a Transaction, such Income shall be the property of Buyer. Upon an Event of Default, Seller shall and shall cause Servicer and any Underlying Repurchase Counterparty to deposit all Income to the account set forth in Section 9, upon receipt thereof, in accordance with Section 12(c) hereof.
Appears in 3 contracts
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Income Payments. a. (i) If Income is paid in respect of any Purchased Mortgage Loan Loans during the term of a Transaction, such Income shall be the property of Buyer. Upon the occurrence and during the continuance of an Event of Default, Seller shall shall, and shall cause the Servicer to deposit all such Income to on receipt into the account set forth in Section 9, upon receipt thereof, in accordance with Section 12(c10(a) hereof.
Appears in 2 contracts
Samples: Master Repurchase Agreement and Securities Contract (loanDepot, Inc.), Master Repurchase Agreement and Securities Contract (loanDepot, Inc.)
Income Payments. a. If Income is paid in respect of any Purchased Mortgage Loan during the term of a Transaction, such Income shall be the property of Buyer. Upon the occurrence and continuance of an Event of Default, Seller shall and shall cause Servicer and any Underlying Repurchase Counterparty to deposit all Income to the account set forth in Section 9, upon receipt thereof, in accordance with Section 12(c) 12.c hereof.
Appears in 1 contract
Samples: Master Repurchase Agreement (Impac Mortgage Holdings Inc)
Income Payments. a. If Income is paid in respect of any Purchased Mortgage Loan during the term of a Transaction, such Income shall be the property of BuyerSeller, subject to the rights of Buyer and obligations of Seller hereunder. Upon an Event of Default, Seller shall and shall cause Servicer to deposit all Income to the account set forth in Section 9, upon receipt thereof, in accordance with Section 12(c) 12.c hereof.
Appears in 1 contract
Samples: Master Repurchase Agreement (Five Oaks Investment Corp.)
Income Payments. a. (a) If Income is paid in respect of any Purchased Mortgage Loan during the term of a Transaction, such Income shall be the property of Buyer. Upon the occurrence of an Event of Default, Seller shall and shall cause Servicer to deposit all Income to the account set forth in Section 99 hereof, upon Seller’s or Servicer’s receipt thereofof such Income, in accordance with Section 12(c) hereof.
Appears in 1 contract
Income Payments. a. If Income is paid in respect of any Purchased Mortgage Loan during the term of a Transaction, such Income shall be the property of Buyer. Upon the occurrence and continuance of an Event of Default, Seller shall and shall cause Servicer to deposit all Income to the account set forth in Section 9, upon receipt thereof, in accordance with Section 12(c) 12.c hereof.
Appears in 1 contract
Samples: Master Repurchase Agreement (Impac Mortgage Holdings Inc)
