Common use of Takeout Payments Clause in Contracts

Takeout Payments. With respect to each Mortgage Loan which is the subject of a Takeout Commitment with a Takeout Investor, Seller shall arrange that all payments under the related Takeout Commitment be paid to the Joint Securities Account Control Agreement. With respect to any Takeout Commitment to 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 Mortgage Purchased Loan which and the portion of each Security related to Purchased Loans subject to a Transaction, in each case that is the subject of to a Takeout Commitment with a Takeout InvestorCommitment, the Seller shall arrange ensure that the related portion of the purchase price and all other payments under the related such Takeout Commitment to the extent related to Purchased Loans subject to a Transaction or such portion of each Security related to Purchased Loans 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. With Unless subject to the Joint Account Control Agreement or Joint Securities Account Control Agreement, with respect to any Takeout Commitment to 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 Payee Number set forth on Xxxxxx Xxx Form 1068 (Fixed-Rate, Graduated-Payment, or Growing-Equity Mortgage Loan Schedule) or Xxxxxx Xxx Mae Form 1069 (Adjustable-Rate Mortgage Loan Schedule), as applicable, will be identical to the payee number Payee Number that has been identified by Buyer in writing as Buyer’s payee number Payee Number or Buyer will have previously approved the related payee number 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.

Takeout Payments. With respect to each Committed Mortgage Loan which is the subject of a Takeout Commitment with a Takeout InvestorLoan, Seller Sellers shall arrange that all payments under the related Takeout Commitment be paid directly to Buyer at the Joint Securities Account Control Agreementaccount set forth in Schedule 4 hereof, or to an account approved by Buyer in writing prior to such payment. With respect to any Takeout Commitment to 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 Payee Number set forth on Xxxxxx Xxx Form 1068 (Fixed-RateFixed‑Rate, Graduated-Payment, or Growing-Equity Mortgage Loan Asset Schedule) or Xxxxxx Xxx Mae Form 1069 (Adjustable-Rate Mortgage Loan Asset Schedule), as applicable, will be identical to the payee number Payee Number that has been identified by Buyer in writing as Buyer’s payee number Payee Number or Buyer will have previously approved the related payee number 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.

Takeout Payments. With respect to each Committed Mortgage Loan which is the subject of a Takeout Commitment with a Takeout InvestorLoan, Seller shall arrange that all payments under the related Takeout Commitment be paid directly to Buyer at the Joint Securities Account Control Agreementaccount set forth in Schedule 4 hereof, or to an account approved by Buyer in writing prior to such payment. With respect to any Takeout Commitment to 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 Payee Number set forth on Xxxxxx Xxx Mae Form 1068 (Fixed-RateFixed‑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 identical to the payee number Payee Number that has been identified by Buyer in writing as Buyer’s payee number Payee Number or Buyer will have previously approved the related payee number 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.

Takeout Payments. With respect to each Mortgage Loan which is the subject of to a Takeout Commitment with which has not been assigned to the Buyer pursuant to a Takeout InvestorCommitment Assignment, Seller the Sellers shall arrange that all payments under the related Takeout Commitment shall be paid directly to the Joint Securities Account Control AgreementBuyer at the account set forth in Section 9 hereof, or to an account approved by the Buyer in writing prior to such payment. With respect to any Agency Takeout Commitment to an AgencyCommitment, 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 the Buyer has approved such wire transfer instructions in writing in its sole discretion, or (2) the payee number 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 Payee Number that has been identified by Buyer in writing as Buyer’s payee number Payee Number or the Buyer will have previously has approved the related payee number Payee Number in writing in its sole discretion; with With respect to any Takeout Commitment with an AgencyAgency for which the Agency is swapping the related Mortgage Loans for a mortgage backed security, 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 Committed Mortgage Loan which is the subject of a Takeout Commitment with a Takeout InvestorLoan, Seller shall arrange that all payments under the related Takeout Commitment be paid directly to Buyer at the Joint Securities Account Control Agreementaccount set forth in Schedule 4 hereof, or to an account approved by Buyer in writing prior to such payment. With respect to any Takeout Commitment to 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 Payee Number set forth on Xxxxxx Xxx Mae Form 1068 (Fixed-RateFixed‑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 Payee Number that has been identified by Buyer in writing as Buyer’s payee number Payee Number or Buyer will have previously approved the related payee number Payee Number in writing in its sole discretion; with respect to any Takeout Commitment with an Agency, the applicable agency documents Applicable Agency Documents will list Buyer as sole subscriber, unless otherwise agreed to in writing by XxxxxBuyer, in XxxxxBuyer’s sole discretion.

Takeout Payments. With respect to each Committed Mortgage Loan which is Loan, the subject of a Takeout Commitment with a Takeout Investor, Seller shall arrange that all payments under the related Takeout Commitment shall be paid directly to the Joint Securities Account Control AgreementBuyer at the account set forth in Section 9 hereof, or to an account approved by the Buyer in writing prior to such payment. With respect to any Agency Takeout Commitment to an AgencyCommitment, 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 the Buyer has approved such wire transfer instructions in writing in its sole discretion, or (2) the payee number 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 Payee Number that has been identified by Buyer in writing as Buyer’s payee number Payee Number or the Buyer will have previously has approved the related payee number Payee Number in writing in its sole discretion; with With respect to any Takeout Commitment with an Agency, the applicable agency documents will list Buyer as sole subscriber, subscriber unless otherwise agreed subject to an intercreditor agreement in writing by Xxxxx, in Xxxxx’s sole discretionform and substance acceptable to the Buyer.