Payment of the Purchase Proceeds. No later than 1:00 -------------------------------- p.m. (Pacific time) on the Closing Date, the Purchaser shall pay to the Seller the Purchase Proceeds, by wire transfer in immediately available funds to the account designated by the Seller. Upon completion of the wire transfer to the Seller's designated account, the Purchaser shall own the Mortgage Loans and the Servicing Rights, free and clear of any lien or encumbrance whatsoever.
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Samples: Assignment, Assumption and Recognition Agreement (United Panam Financial Corp), Assignment, Assumption and Recognition Agreement (United Panam Financial Corp), Mortgage Loan Purchase and Interim Servicing Agreement (United Panam Financial Corp)
Payment of the Purchase Proceeds. No later than 1:00 -------------------------------- p.m. (Pacific time) on the Closing Date, the Purchaser shall pay to the Seller the Purchase Proceeds, by wire transfer in immediately available funds to the account designated by the Seller. Upon completion of the wire transfer to the Seller's designated account, the Purchaser shall own the Mortgage Loans and the Servicing Rights, free and clear of any lien or encumbrance whatsoever.
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