Price Differential. (a) On each MRA Payment Date, Seller hereby promises to pay to Buyer all accrued and unpaid Price Differential on the Transactions, as invoiced by Buyer two (2) Business Days prior to the related MRA Payment Date (the “Price Differential Statement Date”); provided that if Buyer fails to deliver such statement on the Price Differential Statement Date, on such MRA Payment Date Seller shall pay the amount which Seller calculates as the Price Differential due and upon delivery of the statement, Seller shall remit to Buyer any shortfall, or Buyer shall refund to Seller any excess, in the Price Differential paid. Price Differential shall accrue each day on the Purchase Price at a rate per annum equal to the Pricing Rate.
Appears in 6 contracts
Samples: Master Repurchase Agreement (loanDepot, Inc.), Master Repurchase Agreement (PennyMac Financial Services, Inc.), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Price Differential. (a) On each MRA Payment Date, the Seller hereby promises to pay to the Buyer all accrued and unpaid Price Differential on the Transactions, as invoiced by the Buyer two (2) Business Days prior to the related MRA Payment Date (the “Price Differential Statement Date”); provided that if the Buyer fails to deliver such statement on the Price Differential Statement Date, on such MRA Payment Date the Seller shall pay the amount which the Seller calculates as the Price Differential due and upon delivery of the statement, the Seller shall remit to the Buyer any shortfall, or the Buyer shall refund to the Seller any excess, in the Price Differential paid. Price Differential shall accrue each day on the Purchase Price at a rate per annum equal to the Pricing Rate.
Appears in 2 contracts
Samples: Master Repurchase Agreement (PennyMac Financial Services, Inc.), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Price Differential. (a) On each MRA Payment Date, Seller hereby promises to pay to Buyer all accrued and unpaid Price Differential on the Transactions, as invoiced by Buyer two (2) Business Days prior to the related MRA Payment Date [***] (the “Price Differential Statement Date”); provided that if Buyer fails to deliver such statement on the Price Differential Statement Date, on such MRA Payment Date Seller shall pay the amount which Seller calculates as the Price Differential due and upon delivery of the statement, Seller shall remit to Buyer any shortfall, or Buyer shall refund to Seller any excess, in the Price Differential paid. Price Differential shall accrue each day on the Purchase Price at a rate per annum equal to the Pricing Rate.
Appears in 1 contract
