OBLIGATION TO REMIT SUBSEQUENT PAYMENTS AND FORWARD COMMUNICATIONS. (A) Any payment received by Xxxxxx Xxx with respect to amounts accrued after the Date of the Xxxx of Sale for any Loan sold to Funding, which payment is not reflected in the Loan Transmittal Summary Form, shall be received by Xxxxxx Xxx in trust for the account of Funding and Xxxxxx Mae hereby disclaims any title to or interest in any such amounts. Within two (2) business days following the date of receipt, Xxxxxx Xxx shall remit to Funding an amount equal to any such payments on a list provided by Funding identifying the Loans with respect to which such payments were made, the amount of each such payment and the date each such payment was received.
Appears in 9 contracts
Samples: These Purchase Agreement Master Securitization Terms Number (SLM Funding Corp), Purchase Agreement (SLM Funding Corp), Purchase Agreement Master Securitization Terms (SLM Funding Corp)
OBLIGATION TO REMIT SUBSEQUENT PAYMENTS AND FORWARD COMMUNICATIONS. (A) Any payment received by Xxxxxx Xxx with respect to amounts accrued after the Date of the Xxxx of Sale for any Loan sold to Funding, which payment is not reflected in the Loan Transmittal Summary Form, shall be received by Xxxxxx Xxx in trust for the account of Funding and Xxxxxx Mae hereby disclaims any title to or interest in any such amounts. Within two (2) business days following the date of receipt, Xxxxxx Xxx shall remit to Funding an amount equal to any such payments along with a listing on a list form provided by Funding identifying the Loans with respect to which such payments were made, the amount of each such payment and the date each such payment was received.
Appears in 8 contracts
Samples: Purchase Agreement (SLM Funding Corp), Purchase Agreement (SLM Funding LLC), Purchase Agreement (SLM Funding Corp)
OBLIGATION TO REMIT SUBSEQUENT PAYMENTS AND FORWARD COMMUNICATIONS. (A) Any payment received by Xxxxxx Xxx with respect to amounts accrued after the Date of the Xxxx of Sale for any Loan sold to Funding, which payment is not reflected in the Loan Transmittal Summary Form, shall be received by Xxxxxx Xxx in trust for the account of Funding and Xxxxxx Mae hereby disclaims any title to or interest in any such amounts. Within two (2) business days Business Days following the date of receipt, Xxxxxx Xxx shall remit to Funding an amount equal to any such payments along with a listing on a list form provided by Funding identifying the Loans with respect to which such payments were made, the amount of each such payment and the date each such payment was received.
Appears in 5 contracts
Samples: Purchase Agreement (SLM Funding LLC), Purchase Agreement (SLM Funding LLC), Purchase Agreement (SLM Funding LLC)
