Common use of Consummation of Sale and Purchase Clause in Contracts

Consummation of Sale and Purchase. The sale and purchase of Eligible Loans pursuant to a Purchase Agreement shall be consummated upon Funding's receipt from Xxxxxx Mae of the Xxxx of Sale and the payment by Funding to Xxxxxx Mae of the Initial Payment, and when consummated such sale and purchase shall be effective as of the date of the Xxxx of Sale. Xxxxxx Mae and Funding shall use their best efforts to perform promptly their respective obligations pursuant to such Purchase Agreement.

Consummation of Sale and Purchase. The sale and purchase of Eligible Loans pursuant to a Purchase Agreement shall be consummated upon Funding's receipt from Xxxxxx Mae of the Xxxx of Sale and the payment by Funding to Xxxxxx Mae of the Initial PaymentPayment and the assignment to Xxxxxx Xxx of the Excess Distribution Certificate, and when consummated such sale and purchase shall be effective as of the date of the Xxxx of Sale. Xxxxxx Mae Xxx and Funding shall use their best efforts to perform promptly their respective obligations pursuant to such Purchase Agreement.

Consummation of Sale and Purchase. The sale and purchase of Eligible Loans pursuant to a Purchase Agreement shall be consummated upon Funding's receipt from Xxxxxx Mae Xxx of the Xxxx of Sale and the payment by Funding to Xxxxxx Xxx of the Initial Payment and the assignment to Xxxxxx Mae of the Initial PaymentExcess Distribution Certificate, and when consummated such sale and purchase shall be effective as of the date of the Xxxx of Sale. Xxxxxx Mae and Funding shall use their best efforts to perform promptly their respective obligations pursuant to such Purchase Agreement.