Lockbox Account. Seller shall inform the Mortgagors of Mortgage Loans to remit their mortgage payments to the Lockbox Account. Payments of all Servicing Spread Collections received on and after the first Assignment Date shall be transferred from the Lockbox Account to the Third Party Controlled Future Spread Custodial Account within one Business Day of receipt and identification thereof and in any event, within two Business Days of receipt thereof. If Seller receives any Servicing Spread Collections not remitted to the Lockbox Account, it shall hold such funds in trust for the benefit of the Purchaser and deposit such amounts to the Third Party Controlled Future Spread Account within two Business Days of receipt thereof.
Appears in 21 contracts
Samples: Future Spread Agreement (Nationstar Mortgage Holdings Inc.), Future Spread Agreement (Nationstar Mortgage Holdings Inc.), Future Spread Agreement (Nationstar Mortgage Holdings Inc.)
Lockbox Account. Seller shall inform the Mortgagors of Mortgage Loans to remit their mortgage payments to the Lockbox Account. Payments of all Servicing Spread Collections received on and after the first Assignment Closing Date shall be transferred from the Lockbox Account to the Third Party Controlled Future Current Spread Custodial Account within one Business Day of receipt and identification thereof and in any event, within two Business Days of receipt thereof. If Seller receives any Servicing Spread Collections not remitted to the Lockbox Account, it shall hold such funds in trust for the benefit of the Purchaser and deposit such amounts to the Third Party Controlled Future Current Spread Account within two Business Days of receipt thereof.
Appears in 13 contracts
Samples: www.sec.gov, Acquisition Agreement (Newcastle Investment Corp), Acquisition Agreement (Nationstar Mortgage Holdings Inc.)
Lockbox Account. Seller shall inform the Mortgagors of Mortgage Loans to remit their mortgage payments to the Lockbox Account. Payments of all Servicing Spread Collections received on and after the first Assignment Closing Date shall be transferred from the Lockbox Account to the Third Party Controlled Future Current Spread Custodial Account within one Business Day of receipt and identification thereof and in any event, within two Business Days of receipt thereof. If Seller receives any Servicing Spread Collections not remitted to the Lockbox Account, it shall hold such funds in trust for the benefit of for the Purchaser and deposit such amounts to the Third Party Controlled Future Current Spread Account within two Business Days of receipt thereof.
Appears in 4 contracts
Samples: Acquisition Agreement (Nationstar Mortgage Holdings Inc.), Acquisition Agreement (Newcastle Investment Corp), Spread Acquisition Agreement (Nationstar Mortgage Holdings Inc.)
