Cash Pledge Account means the blocked Seller’s account (under the sole dominion and control of Buyer) with JPM Chase styled as follows: [***]
Cash Pledge Account means the internal demand deposit account held at JPM Chase for the benefit of Buyer, and styled as follows: JPMorgan Chase Bank, N.A. Secured Party Cash Pledge Account for Pulte Mortgage LLC
Cash Pledge Account means the Seller’s non-interest-bearing demand deposit account maintained with Agent and described in Section 9.3 in which the Seller shall maintain the Required Amount of funds for the term of this Agreement. “Central Elements” means and includes the value of a substantial part of the Purchased Loans; the prospects for payment of each portion of the Repurchase Price, both Purchase Price and Price Differential, when due; the validity or enforceability of this Agreement and the other Transaction Documents and, as to any Person referred to in any reference to the Central Elements, such Person’s property, business operations, financial condition and ability to fulfill and perform
Examples of Cash Pledge Account in a sentence
On or prior to the date hereof, Seller shall deposit an amount equal to two hundred fifty basis points (2.50%) of the Facility Amount (the “Required Amount”) into the Cash Pledge Account.
If on any Remittance Date, the amount on deposit in the Cash Pledge Account is greater than the Required Amount, provided that no Default or Event of Default has occurred and is continuing, upon Seller’s request such excess will be disbursed to Seller on such Remittance Date after application by Buyer to the payment of any amounts owing by Seller to Buyer on such date.
Seller shall cause an amount not less than the Required Amount to be on deposit in the Cash Pledge Account at all times.
At any time after the occurrence and during the continuance of an Event of Default, Buyer, in its sole discretion, may apply the amounts on deposit in the Cash Pledge Account in accordance with the provisions of Paragraph 5(f).
More Definitions of Cash Pledge Account
Cash Pledge Account means, if required by Xxxxx, the blocked Seller’s account (under the sole dominion and control of Buyer) with NexBank styled as follows: Altisource Asset Management Corporation NexBank Bank Secured Party
Cash Pledge Account. “Ceiling Rate” means, for any day, a rate per annum equal to the maximum nonusurious rate of interest permitted for that day by whichever of applicable federal or Texas law permits the higher interest rate. On each day, if any, that applicable Texas law establishes the Ceiling Rate, the Ceiling Rate shall be a rate per annum equal to the “weekly ceiling” (as defined in §303 of the Texas Finance Code — the “Texas Finance Code” — as amended) for that day. Buyer may from time to time, as to current and future balances, implement any other ceiling under the Texas Finance Code by notice to Seller, if and to the extent permitted by, the Texas Finance Code. “Change in Control” means either of the following events (a) the acquisition by any Person, or two or more Persons acting in concert, of beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended) of outstanding shares of voting stock (or equivalent equity interests) of Seller or Guarantor at any time if after giving effect to such acquisition such Person or Persons owns fifty percent (50%) or more of such outstanding voting stock (or equivalent equity interests) or (b) the Controlling Owner shall for any reason cease to own and control, directly or indirectly, all of the outstanding equity interests of Seller. “Change in Requirement of Law” means (a) the adoption of a Requirement of Law after the date of this Agreement, (b) any change in a Requirement of Law or (c) compliance by Buyer (or by any applicable lending office of Buyer) with any Requirement of Law made or issued after the date of this Agreement. “Completed Repurchase Advice” means with respect to any Purchased Mortgage Loan, receipt by Buyer of: (i) funds in an amount equal to or greater than the Repurchase Price of such Purchased Mortgage Loan; (ii) in the event that the funds described in clause (i) above are less than an amount equal to the Repurchase Price of such Purchased Mortgage Loan, confirmation that funds in an amount equal to such deficiency are on deposit in the Seller’s Operating Account and available for payment to Buyer after taking into account all other payments required to be made by Seller out of funds on deposit in the Seller’s Operating Account; (iii) confirmation, in a form acceptable to Buyer in its sole discretion, from the related Approved Takeout Investor that the funds received by Buyer are for the purchase of that Purchased Mortg...
Cash Pledge Account means the blocked Seller’s deposit account (under the sole dominion and control of Buyer) with BofI Federal Bank styled as “BofI Federal Bank Cash Pledge Account for EXCEL MORTGAGE SERVICING, INC.” into which Seller shall deposit and maintain at all times the amount required by Section 14(cc)(6) hereof.
Cash Pledge Account means the Seller’s non-interest-bearing demand deposit account maintained with Agent and described in Section 9.3 in which the Seller shall maintain the Required Amount of funds for the term of this Agreement. “Central Elements” means and includes the value of a substantial part of the Purchased Loans; the prospects for payment of each portion of the Repurchase Price, both Purchase Price and Price Differential, when due; the validity or enforceability of this Agreement and the other Transaction Documents and, as to any Person referred to in any reference to the Central Elements, such Person’s property, business operations, financial condition and ability to fulfill and perform its obligations under this Agreement and the other Transaction Documents to which it is a party, each taken as a whole, and such Person’s prospects of continuing in business as a going concern. “Certified Copy” means a copy of an original Primary Loan Document or Secondary Loan Document accompanied by (or on which there is stamped) a certification by an officer of either a title insurer or an agent of a title insurer (whether a title agency or a closing attorney) or, except where otherwise specified below, by an Authorized Seller Representative or an officer of the Servicer (if other than the Seller) or subservicer of the relevant Mortgage Loan, that such copy is a true copy of the original and (if applicable) that the original has been sent to the appropriate governmental filing office for recording in the jurisdiction where the related Mortgaged Premises are located. Each such certification shall be conclusively deemed to be a representation and warranty by the certifying officer, agent, Authorized Seller Representative or officer of the relevant Servicer or subservicer, as applicable, to the Agent, the Buyers and the Custodian upon which each may rely.
Cash Pledge Account means the internal demand deposit account held at JPM Chase for the benefit of Buyer, and styled as follows:
Cash Pledge Account. The blocked Seller’s account (under the sole dominion and control of Purchaser) with JPM Chase styled as follows: Nationstar Mortgage LLC JPMorgan Chase Secured Party Cash Pledge Account Account no. 918038944