Common use of Application of Proceeds; No Duty Clause in Contracts

Application of Proceeds; No Duty. Neither the Administrative Agent, nor the Custodian, nor any Purchaser shall be under any duty at any time to credit the Sellers for any amounts due from any Approved Take-Out Investor in respect of any purchase of any Mortgage Assets contemplated under Section 3.4(b) above, until the Administrative Agent has actually received such amount in the form of immediately available funds, for deposit to the Collection Account. Neither the Administrative Agent, nor the Custodian, nor any Purchaser shall be under any duty at any time to collect any amounts or otherwise enforce any obligations due from any Approved Take-Out Investor in respect of any such purchase.

Application of Proceeds; No Duty. Neither the Administrative Agent, nor the CustodianCollateral Agent, nor any Purchaser Lender shall be under any duty at any time to credit the Sellers Borrower for any amounts due from any Approved Take-Out Investor in respect of any purchase of any Mortgage Assets Collateral contemplated under Section 3.4(b) above, until the Administrative Agent has actually received such amount in the form of immediately available funds, for deposit to the Collection Account. Neither the Administrative Agent, nor the CustodianCollateral Agent, nor any Purchaser Lender shall be under any duty at any time to collect any amounts or otherwise enforce any obligations due from any Approved Take-Out Investor in respect of any such purchase.

Application of Proceeds; No Duty. Neither the Administrative Agent, Agent nor the Custodian, nor any Purchaser Purchasers shall be under any duty at any time to credit the Sellers for any amounts amount due from any Approved Take-Out Investor in respect of any purchase of any Mortgage Assets contemplated under Section 3.4(b3.3(b) above, until the Administrative Agent such amount has actually been received such amount in the form of immediately available funds, for deposit funds and deposited to the Collection Account. Neither the Administrative AgentCustodian, nor the CustodianPurchasers, nor any Purchaser the Administrative Agent shall be under any duty at any time to collect any amounts or otherwise enforce any obligations due from any Approved Take-Out Investor in respect of any such purchase.