Secondary Portfolio Spread Custodial Account. With respect to each Secondary Portfolio, the Seller shall establish a Secondary Portfolio Spread Custodial Account, which shall be an Eligible Account, not later than the initial Assignment Date for such Secondary Portfolio. The Seller shall deliver to 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 Secondary Portfolio Collections or the Seller’s interest in the Secondary Portfolio Spread Custodial Account without the prior written consent of the Purchaser.
Appears in 7 contracts
Samples: Master Spread Acquisition and MSR Servicing Agreement, Master Spread Acquisition and MSR Servicing Agreement (Pennymac Financial Services, Inc.), Master Spread Acquisition and MSR Servicing Agreement (PennyMac Mortgage Investment Trust)
