Withdrawals and Remittances. (a) On each Business Day, during the term of the Loan and Security Agreement, the Seller shall deposit all funds received on account of the Participation Certificates into the Dedicated Account; provided that upon the termination of the Loan and Security Agreement, the Seller shall withdraw from the Primary Portfolio Spread Custodial Account the cash on deposit therein and pay such cash in the following amounts and order of priority, in each case subject to funds remaining available after giving effect to each payment having a higher priority:
Appears in 3 contracts
Samples: MSR Servicing Agreement, MSR Servicing Agreement (Pennymac Financial Services, Inc.), MSR Servicing Agreement (PennyMac Mortgage Investment Trust)
Withdrawals and Remittances. (a) On each Business Day, during the term of the Loan and Security Agreement, the Seller shall deposit all funds received on account of the Participation Certificates into the Dedicated Account; provided that upon the termination of the Loan and Security Agreement, the Seller shall withdraw from the Primary Secondary Portfolio Spread Custodial Account the cash on deposit therein and pay such cash in the following amounts and order of priority, in each case subject to funds remaining available after giving effect to each payment having a higher priority:
Appears in 3 contracts
Samples: MSR Servicing Agreement, MSR Servicing Agreement (Pennymac Financial Services, Inc.), MSR Servicing Agreement (PennyMac Mortgage Investment Trust)
