Collection and Servicing Rights. 4.4 (a) If no Event of Default exists, Borrower may service and receive and collect directly all sums payable to Borrower in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. All proceeds of any Purchase Commitment or any other sale of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement.
Appears in 8 contracts
Samples: Warehousing Credit and Security Agreement (Commercial Capital Bancorp Inc), Warehousing Credit and Security Agreement (MortgageIT Holdings, Inc.), Warehousing Credit and Security Agreement (Commercial Capital Bancorp Inc)
Collection and Servicing Rights. 4.4 (a) If no Event of Default exists, Borrower Borrowers may service and receive and collect directly all sums payable to Borrower Borrowers in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. All proceeds of any Purchase Commitment or any other sale of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement.
Appears in 3 contracts
Samples: Warehousing Credit and Security Agreement (Lennar Corp /New/), Warehousing Credit and Security Agreement (Lennar Corp /New/), Warehousing Credit and Security Agreement (Lennar Corp /New/)
Collection and Servicing Rights. 4.4 (a4.4(a) If no Event of Default exists, Borrower Borrowers may service and receive and collect directly all sums payable to Borrower Borrowers in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. All proceeds of any Purchase Commitment or any other sale of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement.
Appears in 1 contract
Samples: Warehousing Credit and Security Agreement (Walker & Dunlop, Inc.)
Collection and Servicing Rights. 4.4 (a) 3.4.1 If no Event of Default exists, the Borrower may service and receive and collect directly all sums payable to the Borrower in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. All proceeds of any Purchase Commitment or any other sale of Collateral must (which shall be paid directly to the Cash Collateral Account for application as provided in this AgreementAccount).
Appears in 1 contract
Samples: Mortgage Warehousing Credit and Security Agreement (Chartermac)
Collection and Servicing Rights. 4.4 (a) If no Event of Default exists, Borrower may service and receive and collect directly all sums payable to Borrower in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. All proceeds of any Purchase Commitment or any other sale of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement.
Appears in 1 contract
Samples: Warehousing Credit and Security Agreement (Municipal Mortgage & Equity LLC)
Collection and Servicing Rights. 4.4 (a) 3.5.1 If no Event of Default exists, Borrower Borrowers may service and receive and collect directly all sums payable to Borrower Borrowers in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. All proceeds of any Purchase Commitment or any other sale of Collateral must (which shall be paid directly to the Cash Collateral Account for application as provided in this AgreementAccount).
Appears in 1 contract
Samples: Mortgage Warehousing Credit and Security Agreement (Charter Municipal Mortgage Acceptance Co)
Collection and Servicing Rights. 4.4 (a4.4(a) If no Event of Default exists, Borrower may service and receive and collect directly all sums payable to Borrower in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. All proceeds of any Purchase Commitment or any other sale of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement.
Appears in 1 contract
Samples: Warehousing Credit and Security Agreement (Walker & Dunlop, Inc.)
Collection and Servicing Rights. 4.4 (a3.4(a) If no Event of Default exists, the Borrower may service and receive and collect directly all sums payable to the Borrower in respect of the Collateral other than proceeds of any Purchase Commitment relating thereto or proceeds of the sale of any Collateral. All proceeds of any Purchase Commitment relating thereto or any other sale of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement.
Appears in 1 contract
Samples: Warehouse Loan and Security Agreement (Walker & Dunlop, Inc.)
Collection and Servicing Rights. 4.4 4.5 (a) If no Event of Default exists, Borrower may service and receive and collect directly all sums payable to Borrower in respect of the Collateral other than proceeds of any Purchase Takeout Commitment or proceeds of the sale of any Collateral. All proceeds of any Purchase Takeout Commitment or any other sale or refinancing of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement.
Appears in 1 contract
Samples: Warehousing Credit and Security Agreement (Municipal Mortgage & Equity LLC)
