Common use of PAYMENT, TRANSFER AND CUSTODY Clause in Contracts

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof no later than 3:00 p.m. on the day when due, in immediately available Dollars and without deduction, setoff or counterclaim, and, if not received before such time, shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth herein.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than (i) for purposes of calculating Price Differential hereunder, 3:00 p.m. on the day when due, and (ii) for all other purposes, 5:00 p.m. on the day when due, in each case, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of BuyerBuyer as directed by Buyer in writing. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth hereinAccount.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than (i) for purposes of calculating Price Differential hereunder, 3:00 p.m. on the day when due, and (ii) for all other purposes, 5:00 p.m. on the day when due, in each case, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of BuyerBuyer as directed by Xxxxx in writing. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding BuyerXxxxx’s account, the Servicer Account account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth hereinAccount.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by any Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day Business Day when due, in immediately available Dollars and without deduction, setoff or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Each Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to LIBOR plus the Pricing Margin plus 350 basis pointsthe Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of Buyerthe General Repo Account. Seller Sellers shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding BuyerXxxxx’s account, the Servicer Account account or the Waterfall Account other than or any Collection Account; provided that the right to receive amounts Sellers may withdraw funds from the Waterfall Account or any Collection Account with the prior written consent of Buyer in such accounts as expressly set forth hereinaccordance with the terms of the related Controlled Account Agreement. Amounts in the Waterfall Account and/or any Collection Account may be invested at the direction of Buyer in cash equivalents before they are distributed in accordance with Article 5.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day when due, in immediately available Dollars and without deduction, setoff or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default RateLIBO Rate plus the Pricing Margin plus 350 basis points, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of Buyerthe General Repo Account. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account 's account or the Waterfall Account other than or any Collection Account. Amounts in the right to receive amounts Waterfall Account and/or any Collection Account may be invested at the direction of Buyer in such accounts as expressly set forth hereincash equivalents before they are distributed in accordance with Article 5.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof no later than 3:00 p.m. on the day when due, in immediately available Dollars and without deduction, setoff or counterclaim, and, and if not received before such time, shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents (including any Repurchase Obligations) shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following preceding Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account or Servicer Account, as applicable, shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account or the Waterfall Account other than than, in the case of the Waterfall Account only, the right if any to receive residual amounts from such account as and to the extent expressly provided in such accounts as expressly set forth hereinSection 5.02 of this Agreement.

PAYMENT, TRANSFER AND CUSTODY. (a) a. Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than (i) for purposes of calculating Price Differential hereunder, 3:00 p.m. on the day when due, and (ii) for all other purposes, 5:00 p.m. on the day when due, in each case, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of BuyerBuyer as directed by Xxxxx in writing. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding BuyerXxxxx’s account, the Servicer Account account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth hereinAccount.