Examples of Custodial and Paying Agency Agreement in a sentence
All Transfer Documents shall provide that all recorded documents be returned to the Custodian at its notice address set forth in Section 7.3, as such address might be modified in the manner provided in the Custodial and Paying Agency Agreement.
The Servicer shall not cause funds from any other source (other than interest or earnings on the Loan Proceeds and the proceeds of Excess Working Capital Advances and Discretionary Funding Advances and other funds expressly permitted to be deposited into the Collection Account pursuant to the Custodial and Paying Agency Agreement) to be commingled in the Collection Account.
Except as otherwise directed by the Manager, the Servicer shall not cause funds from any other source (other than interest or earnings on the Working Capital Reserve) to be commingled in the Working Capital Reserve Account (it being understood that deposits into such Working Capital Reserve Account shall be made only pursuant to the Custodial and Paying Agency Agreement).
The Debtor will duly and punctually pay, or cause the Custodian/Paying Agent to pay, the principal and interest of the Purchase Money Note as it comes due in accordance with the terms of the Purchase Money Note, this Agreement and the Custodial and Paying Agency Agreement.
On each Distribution Date, the Debtor will direct the Custodian/Paying Agent to distribute amounts on deposit in the Distribution Account to Collateral Agent in payment of any amounts owed by the Debtor to Purchase Money Note Guarantor or Collateral Agent pursuant to this Agreement, subject to the priority of payments set forth in Section 5.1 of the Custodial and Paying Agency Agreement and the other terms thereof.
The Form of Electronic Report on the Loans and Collateral shall contain such information fields as are maintained by the Servicer and required to be contained in (i) the Distribution Date Report, as set forth in the Custodial and Paying Agency Agreement, and (ii) the Monthly Report, as set forth in the LLC Operating Agreement.
The Monthly Report shall also include a certification of the Manager that all withdrawals by the Manager from the Collection Account during such Due Period were made in accordance with the terms of this Agreement and the Custodial and Paying Agency Agreement.
The Company shall bear all responsibility and expense of securing from the appropriate source any intervening Mortgage Assignment or any other assignment to the Initial Member, the FDIC or the Failed Bank that might be missing from the Collateral Documents, but the costs thereof of the Company (or the Manager or the Servicer for the benefit of the Company) shall constitute Pre-Approved Charges for purposes of the Custodial and Paying Agency Agreement.
Any out-of-pocket fees due to any insurer or guarantor incurred by the Company (or the Manager or the Servicer for the benefit of the Company) to fulfill its obligations set forth in the preceding sentence shall constitute Pre-Approved Charges for purposes of the Custodial and Paying Agency Agreement.
Upon Compliance by the Company with the provisions of this Section 6.3, the Initial Member shall pay to the Company the Repurchase Price, and the Repurchase Price shall be applied in the manner set forth in Section 5.1 of the Custodial and Paying Agency Agreement.