Examples of Remittance Date in a sentence
On each Remittance Date, Seller (or its servicer) shall deliver to the Purchaser, or its designee, an excel file containing the data fields listed in Exhibit “C” hereto, or such other information as mutually agreed upon.
Any payments received by Seller after the Purchase Date shall be held by the Seller for the benefit of Purchaser and shall be endorsed/remitted over to the Purchaser on each Remittance Date.
Seller shall pay to Buyer an amount (the “Package and Funding Fee”) equal to Two Hundred Fifty Dollars ($250) plus Buyer’s standard wire transfer and shipping fees, as applicable, for each Purchased Mortgage Loan on the next Remittance Date following the applicable Purchase Date.
As consideration for servicing the Loans and the Collateral, on each Servicer Remittance Date, the Servicer shall be paid such monthly servicing fees as are set forth on the Fee Schedule (the “Servicing Fee”).
In the event the Servicer is reimbursed for any expense that is not, or cannot be documented as, a Servicer Advance, in the reasonable determination of the Company, the Servicer shall be obligated to refund such amounts to the Company on the Servicer Remittance Date immediately following the Servicer’s receipt of notice from the Company requesting the same.