Purchase Date definition
Examples of Purchase Date in a sentence
On each Purchase Date, the Seller does hereby agree to sell, convey, transfer and assign to the Purchaser, without recourse against the Seller except as set forth in Section 4.7 below, all right, title and interest in and to the Correspondent Loans acquired by the Seller from the Correspondents pursuant to the related Loan Commitments, all in accordance with the terms and conditions set forth herein.
The Purchaser shall be entitled to all collections and recoveries of principal and interest paid by a Mortgagor, received by Seller or otherwise applied to any Mortgagor’s account after the related Purchase Date.
On each Purchase Date, the Purchaser shall pay to the Seller the Correspondent Loan Purchase Price, by wire transfer in immediately available funds to the account designated by the Seller.