Failure to Pay Purchase Price Differential. Buyer shall fail to receive on or before any Remittance Date the accrued and unpaid Purchase Price Differential when due; provided, that such failure shall not be an Event of Default hereunder if sufficient Income is on deposit in the Waterfall Account to make such payment and the Account Bank fails to remit such funds to Buyer at the time such payment is due.
Appears in 2 contracts
Sources: Master Repurchase Agreement (BrightSpire Capital, Inc.), Master Repurchase Agreement (Colony NorthStar Credit Real Estate, Inc.)