Common use of Takeout Payments Clause in Contracts

Takeout Payments. With respect to each Mortgage Loan subject to a Takeout Commitment which has not been assigned to the Buyer pursuant to a Takeout Commitment Assignment, the Seller shall arrange that all payments under the related Takeout Commitment shall be paid directly to the Buyer 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, if applicable, (1) with respect to the wire transfer instructions as set forth in 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 set forth on Xxxxxx 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, is identical to the Payee Number that has been identified by Buyer in writing as Buyer’s Payee Number or the Buyer has approved the related Payee Number in writing in its sole discretion; With respect to any Takeout Commitment with an Agency for which the Agency is swapping the related Mortgage Loans for a mortgage backed security, the applicable Agency documents list Buyer as sole-subscriber.

Takeout Payments. With respect to each Mortgage Purchased Loan and the portion of each Security related to Purchased Loans subject to a Transaction, in each case that is subject to a Takeout Commitment which has not been assigned to the Buyer pursuant to a Takeout Commitment AssignmentCommitment, 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 directly 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 Buyer at the account set forth in Section 9 hereofJoint Account Control Agreement or Joint Securities Account Control Agreement, or to an account approved by the Buyer in writing prior to such payment. With with respect to any Agency Takeout CommitmentCommitment with an Agency, if applicable, (1) with ith respect to the wire transfer instructions as set forth in 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 set forth on Xxxxxx Mae 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, is will be identical to the Payee Number that has been identified by Buyer in writing as Buyer’s Payee Number or the Buyer has will have previously approved the related Payee Number in writing in its sole discretion; With with respect to any Takeout Commitment with an Agency for which the Agency is swapping the related Mortgage Loans for a mortgage backed securityAgency, the applicable Agency agency documents will list Buyer as sole-sole subscriber, unless otherwise agreed to in writing by Buyer, in Buyer’s sole discretion.

Takeout Payments. With respect to each Mortgage Loan 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 which has not been assigned to the Buyer pursuant to a Takeout Commitment AssignmentCommitment, 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 Assets subject to a Transaction or such portion of each Security related to Purchased Assets subject to a Transaction shall be paid directly to Agent for the benefit of Buyers (or its designee) in accordance with the Joint Account Control Agreement or the Joint Securities Account Control Agreement, as applicable. Unless subject to the Buyer at the account set forth in Section 9 hereofJoint Account Control Agreement or Joint Securities Account Control Agreement, or to an account approved by the Buyer in writing prior to such payment. With with respect to any Agency Takeout CommitmentCommitment with an Agency, if applicable, (1) with respect to the wire transfer instructions as set forth in Xxxxxxx Mac Form 987 (Wire Transfer Authorization for a Cash Warehouse Delivery) such wire transfer instructions are identical to BuyerAgent’s wire instructions or the Buyer Agent has approved such wire transfer instructions in writing in its sole discretion, or (2) the Payee Number set forth on Xxxxxx Mae Xxx Form 1068 (Fixed-RateFixedRate, Graduated-Payment, or Growing-Equity Mortgage Loan Schedule) or Xxxxxx Xxx Mae Form 1069 (Adjustable-Rate Mortgage Loan Schedule), as applicable, is will be identical to the Payee Number that has been identified by Buyer Agent in writing as BuyerAgent’s Payee Number or the Buyer has Agent will have previously approved the related Payee Number in writing in its sole discretion; With with respect to any Takeout Commitment with an Agency for which the Agency is swapping the related Mortgage Loans for a mortgage backed securityAgency, the applicable Agency agency documents will list Buyer Agent for the benefit of Buyers as sole-sole subscriber, unless otherwise agreed to in writing by Agent, in Agent’s sole discretion.

Takeout Payments. With respect to each Mortgage Loan 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 which has not been assigned to the Buyer pursuant to a Takeout Commitment AssignmentCommitment, 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 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 the Joint Securities Account Control Agreement, as applicable. Unless subject to the Buyer at the account set forth in Section 9 hereofJoint Account Control Agreement or Joint Securities Account Control Agreement, or to an account approved by the Buyer in writing prior to such payment. With with respect to any Agency Takeout CommitmentCommitment with an Agency, if applicable, (1) with respect to the wire transfer instructions as set forth in 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 set forth on Xxxxxx Mae 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, is will be identical to the Payee Number that has been identified by Buyer in writing as Buyer’s Payee Number or the Buyer has will have previously approved the related Payee Number in writing in its sole discretion; With with respect to any Takeout Commitment with an Agency for which the Agency is swapping the related Mortgage Loans for a mortgage backed securityAgency, the applicable Agency documents will list Buyer as sole-sole subscriber, unless otherwise agreed to in writing by Buyer, in Buyer’s sole discretion.