Payments From Take-Out Purchasers. In connection with each sale of a Participated Mortgage Loan by Seller and Bank to a Take-Out Purchaser, Seller shall cause the Take-Out Purchase Price to be paid by the Take-Out Purchaser for the purchase of the Participated Mortgage Loan to be paid by the Take-Out Purchaser, in immediately available funds, directly to Bank into the Repayment Account.
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Samples: Pledge Agreement (Home Point Capital Inc.), Mortgage Warehouse Agreement, Mortgage Warehouse Agreement (Home Point Capital Inc.)
Payments From Take-Out Purchasers. In connection with each sale of a Participated Mortgage Loan by Seller and Bank to a Take-Out Purchaser, Seller shall cause direct such Take-Out Purchaser to pay the Take-Out Purchase Price to be paid by the Take-Out Purchaser for the purchase of the Participated Mortgage Loan to be paid by the Take-Out PurchaserLoan, in immediately available funds, directly to Bank into the Repayment Account.
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