Cash Account. (a) Seller hereby authorizes and directs Purchaser to create the Cash Account. The Cash Account shall be held by Purchaser for Seller subject to the terms and conditions of this Agreement. Purchaser shall notify Seller, via electronic or facsimile transmission, of the Cash Account Balance on each Business Day when the Cash Account Balance is greater than zero and on each Business Day on which a Transaction occurs hereunder.
Appears in 4 contracts
Samples: Mortgage Loan Repurchase Agreement (Crescent Banking Co), Mortgage Loan Repurchase Agreement (Mortgageit Holdings Inc), Mortgage Loan Purchase Agreement (Crescent Banking Co)
Cash Account. (a) Seller The Sellers hereby authorizes authorize and directs direct Purchaser to create a separate Cash Account for the Cash AccountSellers. The Cash Account shall be held by Purchaser for Seller the Sellers subject to the terms and conditions of this Agreement. Purchaser shall notify Sellerthe Sellers, via electronic or facsimile transmission, of the Cash Account Balance on each Business Day when the Cash Account Balance is greater than zero and on each Business Day on which a Transaction occurs hereunder.
Appears in 2 contracts
Samples: Mortgage Loan Purchase Agreement (American Home Mortgage Investment Corp), Mortgage Loan Purchase Agreement (American Home Mortgage Investment Corp)
