Common use of Takeout Payments Clause in Contracts

Takeout Payments. With respect to each Purchased Asset and the portion of each Security related to Purchased Assets subject to a Transaction, in each case that is subject to a Takeout Commitment, the Seller shall ensure that the related portion of the purchase price and all other payments under such Takeout Commitment to the extent related to Purchased Assets subject to a Transaction or such portion of each Security related to Purchased Assets subject to a Transaction shall be paid to Buyer (or its designee) in accordance with the Joint Account Control Agreement or the Joint Securities Account Control Agreement, as applicable. Unless subject to the Joint Account Control Agreement or Joint Securities Account Control Agreement, with respect to any Takeout Commitment with an Agency, if applicable, (1) with respect to the wire transfer instructions as set forth in Freddie Mac Form 987 (Wire Transfer Authorization for a Cash Warehouse Delivery) such wire transfer instructions are identical to Buyer’s wire instructions or Buyer has approved such wire transfer instructions in writing in its sole discretion, or (2) the Payee Number set forth on Xxxxxx Xxx Form 1068 (Fixed-Rate, Graduated-Payment, or Growing-Equity Mortgage Loan Schedule) or Xxxxxx Xxx Form 1069 (Adjustable-Rate Mortgage Loan Schedule), as applicable, will be identical to the Payee Number that has been identified by Buyer in writing as Buyer’s Payee Number or Buyer will have previously approved the related Payee Number in writing in its sole discretion; with respect to any Takeout Commitment with an Agency, the applicable agency documents will list Buyer as sole subscriber, unless otherwise agreed to in writing by Xxxxx, in Xxxxx’s sole discretion.

Takeout Payments. With respect to each Purchased Asset and the portion of each Security related to Purchased Assets subject to a Transaction, in each case that is subject to an Agency Takeout Loan, an Early Purchase Program Loan, a Third Party Takeout CommitmentLoan, the or a Security, Seller shall ensure that the related portion of the purchase price Takeout Price and all other payments under such the related Takeout Commitment to the extent related to Purchased Assets subject to a Transaction or such portion of each Security related to Purchased Assets subject to a Transaction shall be paid directly to Buyer (or its designee) in accordance with the Joint Account Control Agreement or wire instructions designated by Buyer; provided, that in the Joint Securities Account Control event that such Takeout Price exceeds an amount equal (i) the Repurchase Price for such Purchased Asset, plus (ii) all Obligations then due and owing by Seller to Buyer under the Agreement, as applicablethen Buyer shall immediately remit such excess amount to Seller; provided, further, that Buyer may, in its sole discretion, net such excess amount from any other Obligations then due and owing by Seller to Buyer under this Agreement. Unless subject to the Joint Account Control Agreement or Joint Securities Account Control Agreement, with With respect to any each Purchased Asset that is an Agency Takeout Commitment with an Agency, if applicableLoan, (1) with respect to the wire transfer instructions as set forth in Freddie Xxxxxxx Mac Form 987 (Wire Transfer Authorization for a Cash Warehouse Delivery) such wire transfer instructions are identical to Buyer’s designated wire instructions or Buyer has approved such wire transfer instructions in writing in its sole discretion, or (2) the Payee Number set forth on Xxxxxx Xxx Mae Form 1068 (Fixed-Rate, Graduated-Payment, or Growing-Equity Mortgage Loan Asset Schedule) or Xxxxxx Xxx Form 1069 (Adjustable-Rate Mortgage Loan Asset Schedule), as applicable, will be is identical to the Payee Number that has been identified by Buyer in writing as Buyer’s Payee Number or Buyer will have previously has approved the related Payee Number in writing in its sole discretion; with . With respect to any Takeout Commitment with each Purchased Asset that is an AgencyEarly Purchase Program Loan, the applicable agency Agency documents will list Buyer as the sole subscriber, unless otherwise agreed to in writing by Xxxxx, in Xxxxx’s sole discretionsubscriber of the Related Security.

Takeout Payments. With respect to each Purchased Asset and the portion of each Security related to Purchased Assets subject to a Transaction, in each case that is subject to an Agency Takeout Loan, a Pooled Loan, a Third Party Takeout CommitmentLoan, the or a Security, Seller shall ensure that the related portion of the purchase price Takeout Price and all other payments under such the related Takeout Commitment to the extent related to Purchased Assets subject to a Transaction or such portion of each Security related to Purchased Assets subject to a Transaction shall be paid directly to Buyer (or its designee) in accordance with the Joint Account Control Agreement or wire instructions designated by Buyer; provided, that in the Joint Securities Account Control event that such Takeout Price exceeds an amount equal to (i) the Repurchase Price for such Purchased Asset, plus (ii) all Obligations then due and owing by Seller to Buyer under the Agreement, as applicablethen Buyer shall immediately remit such excess amount to Seller; provided, further, that Buyer may, in its sole discretion, net such excess amount from any other Obligations then due and owing by Seller to Buyer under this Agreement. Unless subject to the Joint Account Control Agreement or Joint Securities Account Control Agreement, with With respect to any each Purchased Asset that is an Agency Takeout Commitment with an Agency, if applicableLoan, (1) with respect to the wire transfer instructions as set forth in Freddie Xxxxxxx Mac Form 987 (Wire Transfer Authorization for a Cash Warehouse Delivery) such wire transfer instructions are identical to Buyer’s designated wire instructions or Buyer has approved such wire transfer instructions in writing in its sole discretion, or (2) the Payee Number set forth on Xxxxxx Xxx Mae Form 1068 (Fixed-Rate, Graduated-Payment, or Growing-Equity Mortgage Loan Asset Schedule) or Xxxxxx Xxx Form 1069 (Adjustable-Rate Mortgage Loan Asset Schedule), as applicable, will be is identical to the Payee Number that has been identified by Buyer in writing as Buyer’s Payee Number or Buyer will have previously has approved the related Payee Number in writing in its sole discretion; with . With respect to any Takeout Commitment with an Agencyeach Purchased Asset that is a Pooled Loan, the applicable agency Agency documents will list Buyer as the sole subscriber, unless otherwise agreed to in writing by Xxxxx, in Xxxxx’s sole discretionsubscriber of the Related Security.

Takeout Payments. With respect to each Purchased Asset and the portion of each Security related to Purchased Assets subject to a Transaction, in each case that is subject to an Agency Takeout Loan, an Early Purchase Program Loan, a Takeout CommitmentNon-Conforming Loan, the or a Security, Seller shall ensure that the related portion of the purchase price Takeout Price and all other payments under such the related Takeout Commitment to the extent related to Purchased Assets subject to a Transaction or such portion of each Security related to Purchased Assets subject to a Transaction shall be paid directly to Buyer (or its designee) in accordance with the Joint Account Control Agreement or wire instructions designated by Buyer; provided, that in the Joint Securities Account Control event that such Takeout Price exceeds an amount equal (i) the Repurchase Price for such Purchased Asset, plus (ii) all Obligations then due and owing by Seller to Buyer under the Agreement, as applicablethen Buyer shall immediately remit such excess amount to Seller; provided, further, that Buyer may, in its sole discretion, net such excess amount from any other Obligations then due and owing by Seller to Buyer under this Agreement. Unless subject to the Joint Account Control Agreement or Joint Securities Account Control Agreement, with With respect to any each Purchased Asset that is an Agency Takeout Commitment with an Agency, if applicableLoan, (1) with respect to the wire transfer instructions as set forth in Freddie Xxxxxxx Mac Form 987 (Wire Transfer Authorization for a Cash Warehouse Delivery) such wire transfer instructions are identical to Buyer’s designated wire instructions or the Buyer has approved such wire transfer instructions in writing in its sole discretion, or (2) the Payee Number set forth on Xxxxxx Xxx Mae Form 1068 (Fixed-Rate, Graduated-Payment, or Growing-Equity Mortgage Loan Schedule) or Xxxxxx Xxx Form 1069 (Adjustable-Rate Mortgage Loan Schedule), as applicable, will be is identical to the Payee Number that has been identified by Buyer in writing as Buyer’s Payee Number or the Buyer will have previously has approved the related Payee Number in writing in its sole discretion; with . With respect to any Takeout Commitment with each Purchased Asset that is an AgencyEarly Purchase Program Loan, the applicable agency Agency documents will list Buyer as sole subscriber, unless otherwise agreed to in writing by Xxxxx, in Xxxxx’s sole discretion.

Takeout Payments. With respect to each Purchased Asset and the portion of each Security related to Purchased Assets subject to a Transaction, in each case that is subject to a Takeout Commitment, the Seller shall ensure that the related portion of the purchase price and all other payments under such Takeout Commitment to the extent related to Purchased Assets subject to a Transaction or such portion of each Security related to Purchased Assets subject to a Transaction shall be paid to Buyer (or its designee) in accordance with the Joint Account Control Agreement or the Joint Securities Account Control Agreement, as applicable. Unless subject to the Joint Account Control Agreement or Joint Securities Account Control Agreement, with respect to any Takeout Commitment with an Agency, if applicable, (1) with respect to the wire transfer instructions as set forth in Freddie Xxxxxxx Mac Form 987 (Wire Transfer Authorization for a Cash Warehouse Delivery) such wire transfer instructions are identical to Buyer’s wire instructions or Buyer has approved such wire transfer instructions in writing in its sole discretion, or (2) the Payee Number set forth on Xxxxxx Xxx Mae Form 1068 (Fixed-RateFixedRate, Graduated-Payment, or Growing-Equity Mortgage Loan Schedule) or Xxxxxx Xxx Form 1069 (Adjustable-Rate Mortgage Loan Schedule), as applicable, will be identical to the Payee Number that has been identified by Buyer in writing as Buyer’s Payee Number or Buyer will have previously approved the related Payee Number in writing in its sole discretion; with respect to any Takeout Commitment with an Agency, the applicable agency documents will list Buyer as sole subscriber, unless otherwise agreed to in writing by XxxxxBuyer, in XxxxxBuyer’s sole discretion.