Simultaneous Transaction. Buyer and Seller agree that in effecting Transactions transfers between Buyer’s Account and Seller’s Account are intended to be, and shall be deemed to be, simultaneous. During any period that Cash and Assets are held by or for Buyer or Seller and payment has not been made therefor, the receiving party shall be deemed to hold the Cash and Assets in trust for the delivering party and shall be obligated to return the Cash and Assets upon the delivering party’s request.
Appears in 6 contracts
Samples: Securities Transfer Agreement (loanDepot, Inc.), Securities Transfer Agreement (loanDepot, Inc.), Master Repurchase Agreement (loanDepot, Inc.)
Simultaneous Transaction. Buyer and Seller agree that in effecting Transactions Transactions, transfers between Buyer’s Account and Seller’s Account are intended to be, and shall be deemed to be, simultaneous. During any period that Cash and Assets are held by or for Buyer or Seller and payment has not been made therefor, the receiving party shall be deemed to hold the Cash and Assets in trust for the delivering party and shall be obligated to return the Cash and Assets upon the delivering party’s request.
Appears in 2 contracts
Samples: Custodial Agreement (Vanguard CMT Funds), Custodial Agreement (Vanguard CMT Funds)
Simultaneous Transaction. Buyer and Seller agree that in effecting Transactions Transactions, transfers between Buyer’s 's Account and Seller’s 's Account are intended to be, and shall be deemed to be, simultaneous. During any period that Cash and Assets are held by or for Buyer or Seller and payment has not been made therefor, the receiving party shall be deemed to hold the Cash and Assets in trust for the delivering party and shall be obligated to return the Cash and Assets upon the delivering party’s request.
Appears in 1 contract
Samples: Custodial Undertaking in Connection With Master Repurchase Agreement (Vanguard CMT Funds)
Simultaneous Transaction. Buyer and Seller agree that in effecting Transactions transfers between Buyer’s Account and Seller’s Account are intended to be, and shall be deemed to be, simultaneous. During any period that Cash and Assets are held by or for Buyer or Seller and payment has not been made therefor, the receiving party shall be deemed to hold the Cash and Assets in trust for the delivering party and shall be obligated to return the Cash and Assets upon the delivering party’s request.
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