Common use of Loss Drafts Clause in Contracts

Loss Drafts. o Seller shall provide Purchaser a listing of all loans with a loss draft pending with corresponding file. o Proceeds remaining in a restricted account shall be forwarded to and be supported by a loan level trial balance. Seller is responsible for any interest payable on loss draft funds required by state and/or investor regulations prior to Transfer Date.

Appears in 7 contracts

Samples: Seller's Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar), Seller's Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar), Seller's Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)

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Loss Drafts. o Seller shall provide Purchaser a listing of all loans with a loss draft pending with corresponding file. o · Proceeds remaining in a restricted account shall be forwarded to and be supported by a loan level trial balance. Seller is responsible for any interest payable on loss draft funds required by state and/or investor regulations prior to Transfer Date.

Appears in 3 contracts

Samples: Seller’s Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar), Seller’s Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar), Seller’s Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)

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