Return of eMortgage Prior to Payment of Purchase Price Sample Clauses

Return of eMortgage Prior to Payment of Purchase Price. In the event either (i) an eMortgage needs to be transferred to Seller (or Warehouse Provider, acting as Seller’s designee) prior to PennyMac’s, or its warehouse lender’s, payment of the Purchase Price as a result of notice being given by Warehouse Provider pursuant to Section 3.2 above, or (ii) PennyMac decides not to purchase an eMortgage after delivery and inspection for any reason (including but not limited to a reasonable belief that an entity other than Warehouse Provider or Seller claims to have any right, title or interest in the subject eMortgage), then: (A) PennyMac shall instruct Custodian to cause the MERS eRegistry to reflect the transfer of Control and Location of the eNote for said eMortgage to Seller (or to Warehouse Provider, acting as Seller’s designee) as identified by the same MERS Org ID used when Seller (or Warehouse Provider, acting as Seller’s designee) transferred Control and Location of such eNote to PennyMac and Custodian, respectively, as described in Section 3.1, and (B) upon acceptance of such transfers by Seller (or Warehouse Provider acting as Seller’s designee), (1) PennyMac shall and does cease to Control the related eNote as designated custodian for Warehouse Provider, as secured party and Seller’s designee, (2) Custodian shall and does cease to maintain the Authoritative Copy of such eNote, and (3) Seller (or Warehouse Provider, acting as Seller’s designee) shall and does immediately Control the eNote and maintain the Authoritative Copy of the eNote. Such transfer of Control and Location shall be a release by PennyMac of any right, title, or interest in the applicable eMortgage, and shall release PennyMac from any and all obligations relating to its Control and Custodian from any and all obligations relating to its maintaining the Authoritative Copy of such eNote that may arise pursuant to this Agreement or applicable law.
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Related to Return of eMortgage Prior to Payment of Purchase Price

  • Adjustment of Repurchase Price In determining the applicable repurchase price of the Stock and Options, as provided for in Sections 5 and 6, above, appropriate adjustments shall be made for any stock dividends, splits, combinations, recapitalizations or any other adjustment in the number of outstanding shares of Stock in order to maintain, as nearly as practicable, the intended operation of the provisions of Sections 5 and 6.

  • Purchase Price; Payment of Purchase Price In addition to the Assumed Liabilities described below, the aggregate consideration for the Subject Assets (the “Purchase Price”) shall be the amount equal to: $2,000,000. The Purchase Price shall be subject to adjustment as set forth in Section 1.7 below as so adjusted.

  • Payment of Purchase Price The Purchase Price shall be paid as follows:

  • Payment of Repurchase Price The Repurchase Price shall be payable, at the option of the Company or its assignee(s), by check or by cancellation of all or a portion of any outstanding purchase money indebtedness owed by Participant to the Company, or such assignee, or by any combination thereof. The Repurchase Price shall be paid without interest within sixty (60) days after exercise of the Repurchase Option.

  • Adjustment of Purchase Price NUMBER AND KIND OF SHARES OR NUMBER OF RIGHTS. The Purchase Price, the number and kind of shares covered by each Right and the number of Rights outstanding are subject to adjustment from time to time as provided in this Section 11.

  • Payment of Purchase Price for the Mortgage Loans (a) In consideration of the sale of the Initial Mortgage Loans from each of the Sellers to the Purchaser on the Closing Date, the Purchaser agrees to transfer to the applicable Seller on the Closing Date the purchase price for the applicable Initial Mortgage Loans provided in the Adoption Annex attached as Annex 1 to this Agreement (the "Adoption Annex").

  • SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE Section 2.01. Sale of the Mortgage Loans.......................................................4 Section 2.02. Obligations of Seller Upon Sale..................................................4 Section 2.03. Payment of Purchase Price for the Mortgage Loans.................................7

  • Payment of the Purchase Price The Purchase Price shall be paid as follows:

  • REINSTATEMENT OF PURCHASE AGREEMENT All other provisions and conditions of the referred Purchase Agreement, as well as its related Attachments, which are not specifically amended by this Amendment No. 17, shall remain in full force and effect without any change.

  • Purchase Price Payment Purchaser shall deliver to SAFEDOX the sum of $5,000 in payment of the 16,667 shares of Common Stock purchased by Purchaser hereunder, a per share price of $.30, which payment shall be delivered as provided in paragraphs VI and VII hereinbelow.

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