Common use of PAYMENT, TRANSFER AND CUSTODY Clause in Contracts

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof no later than 3:00 p.m. on the day when due, in immediately available Dollars and without deduction, setoff or counterclaim, and, if not received before such time, shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth herein.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. (New York City time) on the day when due, in immediately available Dollars and without deduction, setoff or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor Seller shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth hereinAccount.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day Business Day when due, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor Seller shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding BuyerXxxxx’s account, the Servicer Account account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth hereinor any Collection Account.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day Business Day when due, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor Seller shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth hereinor any Collection Account.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. (New York City time) on the day when due, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Servicer Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than or the right to receive amounts in such accounts as expressly set forth hereinServicer Account.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by SellerSellers, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. (New York City time) on the day when due, in immediately available Dollars and without deduction, setoff or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor Sellers shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of Buyer. Seller Sellers shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth hereinAccount.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof no later than 3:00 p.m. on the day when due, in immediately available Dollars and without deduction, setoff or counterclaim, and, if not received before such time, shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s 's account, the Servicer Account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth herein.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day Business Day when due, in immediately available Dollars and without deduction, setoff set‑off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Servicer Account shall be deposited into an account of Buyer. Seller shall have no rights in, in any Buyer’s account and no rights of withdrawal from, or rights to give notices or instructions regarding any Buyer’s account, the Servicer Waterfall Account or the Waterfall Servicer Account. Instructions to Servicer in respect of the Servicer Account other than the right to receive amounts in such accounts as expressly are set forth hereinin the Servicer Notice.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. (New York City time) on the day Business Day when due, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Servicer Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than or the right to receive amounts in such accounts as expressly set forth hereinServicer Account.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantors or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. (New York City time) on the day when due, in immediately available Dollars and without deduction, setoff or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor Seller and Pledgor Guarantors shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the LIBO Rate plus the Pricing Margin plus the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be remitted directly to Buyer or deposited into the Waterfall another Account shall be deposited into an account the Waterfall Account. None of Buyer. Seller any Relevant Party or Servicer shall have no any rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s accountany Account, unless otherwise expressly permitted in the related Servicer Letter Agreement, the Servicer Account Control Agreement or this Agreement. Amounts in the Waterfall Account other than and the right to receive amounts Interest Reserve Account may be invested at the direction of Buyer in such accounts as expressly set forth hereinCash Equivalents before they are distributed in accordance with Article 5.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Sponsor, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day Business Day when due, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be -52- received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor Seller shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Servicer Account shall be deposited into an account of BuyerBuyer (including the Waterfall Account). Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than or the right to receive amounts in such accounts as expressly set forth hereinServicer Account.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer any Seller Party or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day Business Day when due, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor Each Seller Party shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts Price Differential not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Servicer Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than or the right to receive amounts in such accounts as expressly set forth hereinServicer Account.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Sponsor, Manager or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day when due, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor Seller shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Collection Account shall be deposited into an account of Buyerthe Waterfall Account. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account or the Waterfall Account other than the right to receive amounts in such accounts as expressly set forth hereinAccount.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Sponsor, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day Business Day when due, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor Seller shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Servicer Account shall be deposited into an account of BuyerBuyer (including the Waterfall Account). Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than or the right to receive amounts in such accounts as expressly set forth hereinServicer Account.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Seller or any other Person Guarantor under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day when due, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor Seller shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into the Waterfall Servicer Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than or the right to receive amounts in such accounts as expressly set forth hereinServicer Account.

PAYMENT, TRANSFER AND CUSTODY. (a) Unless otherwise expressly provided herein, all amounts required to be paid or deposited by Seller, Pledgor, Guarantor, Servicer Guarantor or any other Person under the Repurchase Documents shall be paid or deposited in accordance with the terms thereof hereof no later than 3:00 p.m. on the day when due, in immediately available Dollars and without deduction, setoff set-off or counterclaim, and, and if not received before such time, time shall be deemed to be received on the next Business Day. Whenever any payment under the Repurchase Documents shall be stated to be due on a day other than a Business Day, such payment shall be made on the next following Business Day, and such extension of time shall in such case be included in the computation of such payment. Seller, Guarantor and Pledgor Seller shall, to the extent permitted by Requirements of Law, pay to Buyer interest in connection with any amounts not paid when due under the Repurchase Documents, which interest shall be calculated at a rate equal to the Default Rate, until all such amounts are received in full by Buyer. Amounts payable to Buyer and not otherwise required to be deposited into either the Servicer Account or the Waterfall Account shall be deposited into an account of Buyer. Seller shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Buyer’s account, the Servicer Account account or the Waterfall Account other than or the right to receive amounts in such accounts as expressly set forth hereinServicer Account.