Common use of Funds Transfer by Purchaser Clause in Contracts

Funds Transfer by Purchaser. Fxxxxx Mac will purchase all Qualified Loans sold under this Master Agreement via a wire transfer of funds on the related Sale Date. Fxxxxx Mac will prepare a loan settlement report confirming the Loan Interest Rate and other applicable information for each Qualified Loan referenced in a signed Commitment Letter and deliver such report to the Seller via e-mail to MXX-Xxxxxxxxx.Xxxxxxxx@xxxxxx.xxxx and Jxxx.Xxxxxxxxx@xxxxxx.xxxx by 9:00 a.m. eastern time on the related Sale Date. The Seller shall confirm, via return e-mail to AxxxxxxxxxXxx@xxxxxxxxx.xxx no later than 10:00 a.m. eastern time on the related Sale Date, the accuracy of the information set forth in the loan settlement report and the Master Servicer’s expectation to receive funds for the sale of the applicable Qualified Loans on the related Sale Date. The wire transfer of funds will normally be scheduled for transmission by 12:00 p.m. eastern time, but in no event later than 5:00 p.m. eastern time. The Seller shall provide Fxxxxx Mac with written wire transfer instructions in the Commitment Letter, which shall include the name and phone number of the person requesting the wire, the wire instructions of the bank where the funds are to be wired, and the calculation of the dollar amount of the funds to be wired.

Funds Transfer by Purchaser. Fxxxxx Xxxxxx Mac will purchase all Qualified Loans sold under this Master Agreement via a wire transfer of funds on the related Sale Date. Fxxxxx Xxxxxx Mac will prepare a loan settlement report confirming the Loan Interest Rate and other applicable information for each Qualified Loan referenced in a signed Commitment Letter and deliver such report to the Seller via e-mail to MXX-Xxxxxxxxx.Xxxxxxxx@xxxxxx.xxxx and Jxxx.Xxxxxxxxx@xxxxxx.xxxx the email address communicated to Xxxxxx Mac by Seller in accordance with the requirements of Section 6.02 below by 9:00 a.m. eastern time on the related Sale Date. The Seller shall confirm, via return e-mail to AxxxxxxxxxXxx@xxxxxxxxx.xxx XxxxxxxxxxXxx@xxxxxxxxx.xxx or such other email address communicated to the Seller by Xxxxxx Mac in accordance with the requirements of Section 6.02 below, no later than 10:00 a.m. eastern time on the related Sale Date, the accuracy of the information set forth in the loan settlement report and the Master Servicer’s expectation to receive funds for the sale of the applicable Qualified Loans on the related Sale Date. The wire transfer of funds will normally be scheduled for transmission by 12:00 p.m. eastern time, but in no event later than 5:00 p.m. eastern time. The Seller shall provide Fxxxxx Xxxxxx Mac with written wire transfer instructions in the Commitment Letter, which shall include the name and phone number of the person requesting the wire, the wire instructions of the bank where the funds are to be wired, and the calculation of the dollar amount of the funds to be wired.