Escrow Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has executed an escrow agreement or letter, copies of which shall be maintained in the possession of Seller and provided to Buyer upon request, if required, stating that in the event of a Rescission of or if for any reason the Loan fails to fund on a given day, the party conducting the closing is holding all funds which would have been disbursed on behalf of the Mortgagor as agent for the benefit of Buyer and such funds shall be redeposited in the Disbursement Account for the benefit of Buyer not later than one Business Day after the date of Rescission or other failure of the Loan to fund on a given day. Such Escrow Letter inures to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including Buyer.
Escrow Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has executed an Escrow Letter. Upon request by the Lender, all such escrow agreements in possession of the Borrowers shall be delivered to the Lender or made available for audit by the Lender or its designee, as requested by the Lender.
Escrow Letter. There is, with respect to such Mortgage Loan, a valid and enforceable escrow letter duly executed by the Settlement Agent.
Escrow Letter. Escrow shall acknowledge receipt of and agree to comply with the terms of the escrow agreement.
Escrow Letter. As of the date hereof and as of the date of each delivery of a Wet Funded Loan, the Settlement Agent has executed an escrow agreement or letter stating that in the event of a Rescission of or if for any reason the Loan fails to fund on a given day, the party conducting the closing is holding all funds which would have been disbursed on behalf of the Mortgagor as agent for the benefit of the Buyer and such funds shall be redeposited in the Disbursement Account for benefit of the Buyer not later than 5:00 p.m. (New York City time) of the date of Rescission or other failure of the Loan to fund on a given day. Such Escrow Letter inures to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including the Buyer.
Escrow Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has executed an escrow agreement or letter, copies of which shall be maintained in the possession of Seller and provided to Buyer upon request, if required, stating that in the event of a Rescission of or if for any reason the Loan fails to fund on a given day, the party conducting the closing is holding all funds which would have been disbursed on behalf of the Mortgagor as agent for the benefit of Buyer. Such Escrow Letter inures to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including Buyer.
(viii) Section 13 of the Agreement is hereby amended by adding the following new clause after clause (qq):
Escrow Letter the letter, in agreed form, from the Buyer and the Sellers’ Representatives instructing and authorising the Escrow Agent to establish and operate the Escrow Account. Estimated Liability: in relation to an Outstanding Claim, a genuine and bona fide estimate of the amount of the Sellers’ liability to the Buyer if the Outstanding Claim were to be resolved in the Buyer’s favour, as determined by the Buyer (acting reasonably). FSMA: the Financial Services and Markets Xxx 0000. Fundamental Claim: a claim for breach of any of the Fundamental Warranties.
Escrow Letter. An Escrow Letter in the form attached hereto as Appendix E executed by each Contributing Person.
Escrow Letter. A joint instruction letter from Buyer and Seller to the Escrow Agent instructing the Escrow Agent to deliver to Seller the Escrow Amount, plus any earnings accrued thereon; provided, however, in the event the Escrow Agent fails to deliver an amount at least equal to the Escrow Amount to Seller as of the Closing then the Closing Date Payment shall be increased by an amount equal to the Escrow Amount;