Common use of Additional Representations and Warranties of the Custodian Clause in Contracts

Additional Representations and Warranties of the Custodian. (a) The Custodian shall be deemed to represent to the Purchaser as of the date hereof and on each date on which information is provided to the Purchaser under Section 33.03 that, except as disclosed in writing to the Purchaser prior to such date: (i) the Custodian is in compliance with all of the requirements set forth in Section 28 hereof; (ii) there are no material legal or governmental proceedings pending (or known to be contemplated) against it of the type described in Item 1117 of Regulation AB; and (iii) there are no affiliations, relationships or transactions of the type described in Item 1119 of Regulation AB relating to the Custodian with respect to the Purchaser or any sponsor, issuing entity, servicer, trustee, originator, significant obligor, enhancement or support provider or other material transaction party (as such terms are used in Regulation AB) relating to the Securitization Transaction contemplated by the Agreement, as identified by the Purchaser to the Custodian in writing as of the Closing Date (each, a "Transaction Party"). (b) If so requested by the Purchaser, on or before March 15 of each calendar year and as needed, commencing in 2007, the Custodian shall, within five Business Days following such request, confirm in writing the accuracy of the representations and warranties set forth in paragraph (a) of this Section or, if any such representation and warranty is not accurate as of the date of such confirmation, provide reasonably adequate disclosure of the pertinent facts, in writing, to the requesting party. Any such request from the Purchaser shall not be given more than once each calendar quarter, unless the Purchaser shall have a reasonable basis for a determination that any of the representations and warranties may not be accurate.

Appears in 8 contracts

Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar), Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar), Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)

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Additional Representations and Warranties of the Custodian. (a) [Reserved]; (b) The Custodian shall be deemed to represent to the Purchaser Depositor as of the date hereof and on each date on which information is provided to the Purchaser Depositor under Section 33.03 4.3 that, except as disclosed in writing to the Purchaser Depositor prior to such date: (i) there are no aspects of its financial condition that could have a material adverse effect on the Custodian performance by it of its custodial obligations under this Agreement or any other Securitization Transaction as to which it is in compliance with all of the requirements set forth in Section 28 hereofcustodian; (ii) there are no material legal or governmental proceedings pending (or known to be contemplated) against it of the type described in Item 1117 of Regulation ABit; and (iii) there are no affiliations, relationships or transactions of the type described in Item 1119 of Regulation AB relating to the Custodian with respect to the Purchaser Depositor or any sponsor, issuing entity, servicer, trustee, originator, significant obligor, enhancement or support provider or other material transaction party (as such terms are used in Regulation AB) relating to the Securitization Transaction contemplated by the Agreement, as identified by the Purchaser Depositor to the Custodian in writing as of the Closing Date (each, a "Transaction Party"). (bc) If so requested by the Purchaser, Depositor on or before March 15 of each calendar year and as needed, commencing in 2007any date following the Closing Date, the Custodian shall, within five Business Days following such request, confirm in writing the accuracy of the representations and warranties set forth in paragraph (a) of this Section or, if any such representation and warranty is not accurate as of the date of such confirmation, provide reasonably adequate disclosure of the pertinent facts, in writing, to the requesting party. Any such request from the Purchaser Depositor shall not be given more than once each calendar quarter, unless the Purchaser Depositor shall have a reasonable basis for a determination that any of the representations and warranties may not be accurate.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac3)

Additional Representations and Warranties of the Custodian. (a) The Custodian shall be deemed to represent to the Purchaser Depositor as of the date hereof and on each date on which information is provided to the Purchaser Trustee under Section 33.03 35 that, except as disclosed in writing to the Purchaser Depositor prior to such date: (i) there are no aspects of its financial condition that could have a material adverse effect on the performance by it of its Custodian obligations under this Custodial Agreement or any other securitization transaction as to which it is in compliance with all of the requirements set forth in Section 28 hereofcustodian; (ii) there are no material legal proceedings or governmental proceedings pending (or such governmental proceedings known to be contemplated) against it of the type described in Item 1117 of Regulation ABit; and (iii) there are no affiliations, relationships or transactions of the type described in Item 1119 of Regulation AB relating to the Custodian with respect to the Purchaser Depositor or any sponsor, issuing entity, servicer, trustee, originator, significant obligor, enhancement or support provider or other material transaction party (as such terms are used in Regulation AB) relating to the Securitization Transaction securitization transaction contemplated by the Pooling and Servicing Agreement, as identified by the Purchaser Depositor to the Custodian in writing as of the Closing Date (each, a "β€œTransaction Party"”). (b) If so requested by the Purchaser, Depositor on or before March 15 of each calendar year and as needed, commencing in 2007any date following the Closing Date, the Custodian shall, within five Business Days following such request, confirm in writing the accuracy of the representations and warranties set forth in paragraph (a) of this Section or, if any such representation and warranty is not accurate as of the date of such confirmation, provide reasonably adequate disclosure of the pertinent facts, in writing, to the requesting party. Any such request from the Purchaser Depositor shall not be given more than once each calendar quarter, unless the Purchaser Depositor shall have a reasonable basis for a determination that any of the representations and warranties may not be accurate.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-3), Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-4), Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-1)

Additional Representations and Warranties of the Custodian. (a) The Custodian shall be deemed to represent to the Purchaser as of the date hereof and on each date on which information is provided to the Purchaser under Section 33.03 32.03 that, except as disclosed in writing to the Purchaser prior to such date: (i) the Custodian is in compliance with all of the requirements set forth in Section 28 hereof; (ii) there are no material legal or governmental proceedings pending (or known to be contemplated) against it of the type described in Item 1117 of Regulation AB; and (iii) there are no affiliationsaffiliations or, with respect to the Purchaser, Depositor or the Trust, any relationships or transactions of the type described in Item 1119 of Regulation AB relating to the Custodian with respect to the Purchaser or any sponsor, issuing entity, servicer, trustee, originator, significant obligor, enhancement or support provider or other material transaction party (as such terms are used in Regulation AB) relating to the Securitization Transaction contemplated by the Agreement, as identified by the Purchaser to the Custodian in writing as of the Closing Date (each, a "Transaction Party"). (b) If so requested by the Purchaser, on or before March 15 of each calendar year and as needed, commencing in 2007, the Custodian shall, within five Business Days following such request, confirm in writing the accuracy of the representations and warranties set forth in paragraph (a) of this Section or, if any such representation and warranty is not accurate as of the date of such confirmation, provide reasonably adequate disclosure of the pertinent facts, in writing, to the requesting party. Any such request from the Purchaser shall not be given more than once each calendar quarter, unless the Purchaser shall have a reasonable basis for a determination that any of the representations and warranties may not be accurate.

Appears in 1 contract

Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)

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Additional Representations and Warranties of the Custodian. (a) [Reserved]; (b) The Custodian shall be deemed to represent to the Purchaser Depositor as of the date hereof and on each date on which information is provided to the Purchaser Depositor under Section 33.03 4.3 that, except as disclosed in writing to the Purchaser Depositor prior to such date: (i) there are no aspects of its financial condition that could have a material adverse effect on the performance by it of its Custodian obligations under this Agreement or any other Securitization Transaction as to which it is in compliance with all of the requirements set forth in Section 28 hereofcustodian; (ii) there are no material legal or governmental proceedings pending (or known to be contemplated) against it of the type described in Item 1117 of Regulation ABit; and (iii) there are no affiliations, relationships or transactions of the type described in Item 1119 of Regulation AB relating to the Custodian with respect to the Purchaser Depositor or any sponsor, issuing entity, servicer, trustee, originator, significant obligor, enhancement or support provider or other material transaction party (as such terms are used in Regulation AB) relating to the Securitization Transaction contemplated by the Agreement, as identified by the Purchaser Depositor to the Custodian in writing as of the Closing Date (each, a "Transaction Party"). (bc) If so requested by the Purchaser, Depositor on or before March 15 of each calendar year and as needed, commencing in 2007any date following the Closing Date, the Custodian shall, within five Business Days following such request, confirm in writing the accuracy of the representations and warranties set forth in paragraph (a) of this Section or, if any such representation and warranty is not accurate as of the date of such confirmation, provide reasonably adequate disclosure of the pertinent facts, in writing, to the requesting party. Any such request from the Purchaser Depositor shall not be given more than once each calendar quarter, unless the Purchaser Depositor shall have a reasonable basis for a determination that any of the representations and warranties may not be accurate.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac1)

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