Primary Spread Custodial Account. With respect to each Primary Portfolio, the Seller shall establish a Primary Spread Custodial Account, which shall be an Eligible Account, not later than the Transaction Settlement Date. The Seller shall deliver to the Seller and the Purchaser reasonable evidence of the establishment of such account upon request. The Seller shall not pledge, obtain financing for or otherwise permit any Lien of any creditor of the Seller to exist on, any portion of the Primary Portfolio Collections or the Seller’s interest in the Primary Spread Custodial Account without the prior written consent of the Purchaser.
Appears in 4 contracts
Samples: Acquisition and Servicing Agreement, Master Spread Acquisition and MSR Servicing Agreement (PennyMac Mortgage Investment Trust), Master Spread Acquisition and MSR Servicing Agreement (Pennymac Financial Services, Inc.)
