Common use of Obligation to Remit Subsequent Payments Clause in Contracts

Obligation to Remit Subsequent Payments. AND FORWARD COMMUNICATIONS -------------------------- (A) Any payment received by Xxxxxx Xxx with respect to amounts accrued after the Date of the Xxxx of Sale for any Loan sold to Funding, which payment is not reflected in the Loan Transmittal Summary Form, shall be received by Xxxxxx Xxx in trust for the account of Funding and Xxxxxx Mae hereby disclaims any title to or interest in any such amounts. Within two (2) business days following the date of receipt, Xxxxxx Xxx shall remit to Funding an amount equal to any such payments on a list provided by Funding identifying the Loans with respect to which such payments were made, the amount of each such payment and the date each such payment was received. (B) Any written communication received at any time by Xxxxxx Mae with respect to any Loan subject to this Purchase Agreement shall be transmitted by Xxxxxx Xxx to Servicer within two (2) business days of receipt. Such communications shall include, but not be limited to, letters, notices of death or disability, notices of bankruptcy, forms requesting deferment of repayment or loan cancellation, and like documents.

Obligation to Remit Subsequent Payments. AND FORWARD COMMUNICATIONS -------------------------- (A) Any payment received by Xxxxxx Xxx Seller with respect to amounts accrued after the Date of the Xxxx of Sale for any Loan sold to FundingPurchaser, which payment is not reflected in the Loan Transmittal Summary Form, shall be received by Xxxxxx Xxx Seller in trust for the account of Funding Purchaser and Xxxxxx Mae the Seller hereby disclaims any title to or interest in any such amounts. Within two (2) business days following the date of receipt, Xxxxxx Xxx Seller shall remit to Funding Purchaser an amount equal to any such payments along with a listing on a list form provided by Funding Purchaser identifying the Loans with respect to which such payments were made, the amount of each such payment and the date each such payment was received. (B) Any written communication received at any time by Xxxxxx Mae Seller with respect to any Loan subject to this Purchase any Sale Agreement shall be transmitted by Xxxxxx Xxx Seller to Servicer within two (2) business days of receipt. Such communications shall include, but not be limited to, letters, notices of death or disability, notices of bankruptcy, forms requesting deferment of repayment or loan cancellation, and like documents.