Purchase Date. The date on which Buyer purchases a Purchased Mortgage Loan from Seller. If the Purchase Price is made by wire transfer, the Purchase Date shall be the date such funds are wired. If the Purchase Price is made by a cashiers check, the Purchase Date shall be the date such check is issued by the bank. If the Purchase Price is paid by a funding draft, the Purchase Date shall be the date that the draft is posted by the bank on which the draft is drawn.
Appears in 8 contracts
Samples: Master Repurchase Agreement (loanDepot, Inc.), Master Repurchase Agreement (loanDepot, Inc.), Master Repurchase Agreement (loanDepot, Inc.)
Purchase Date. The date on which Buyer purchases a Purchased Mortgage Loan Asset from Seller. If the Purchase Price is made paid by wire transfer, the Purchase Date shall be the date such funds are wired. If the Purchase Price is made paid by a cashiers cashier’s check, the Purchase Date shall be the date such check is issued by the bank. If the Purchase Price is paid by a funding draft, the Purchase Date shall be the date that the draft is posted by the bank on which the draft is drawn.
Appears in 5 contracts
Samples: Master Repurchase Agreement (AmeriHome, Inc.), Master Repurchase Agreement (Guild Holdings Co), Master Repurchase Agreement (Rocket Companies, Inc.)
