Proceeds of Loan. The proceeds of the Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller, except in connection with a refinanced Loan.
Appears in 13 contracts
Samples: Master Repurchase Agreement (Rocket Companies, Inc.), Master Repurchase Agreement (Rocket Companies, Inc.), Master Repurchase Agreement (Rocket Companies, Inc.)
Proceeds of Loan. The proceeds of the Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller, except in connection with a refinanced Seller or any Affiliate or correspondent thereof unless such debt was originated more than 12 months prior to the origination of such Loan.
Appears in 2 contracts
Samples: Master Repurchase Agreement (New York Mortgage Trust Inc), Master Repurchase Agreement (Chimera Investment Corp)
