Common use of Compliance with law, regulations, etc Clause in Contracts

Compliance with law, regulations, etc. Except as disclosed in writing to the Insurer or in the Offering Document, neither the Seller nor the Depositor has notice or any reason to believe that any practice, procedure or policy employed by the Seller or the Depositor in the conduct of its business violates, any law, regulation, judgment or agreement applicable to the Seller or the Depositor which, if enforced, would have a material adverse effect on the ability of the Seller or the Depositor to perform its obligations under the Transaction Documents. Except as disclosed in writing to the Insurer or in the Offering Document, neither the Seller nor the Depositor is in breach of or in default under any applicable law or administrative regulation of any department, division, agency or instrumentality which has jurisdiction over it or any applicable judgment or decree or any loan agreement, note, resolution, certificate, agreement or other instrument to which the Seller or the Depositor is a party or is otherwise subject which would have a material adverse affect on its or their ability to perform under the Transaction Documents.

Compliance with law, regulations, etc. Except as disclosed in writing to the Insurer or in the Offering Document, neither of the Seller nor the Depositor has notice or any reason to believe that any practice, procedure or policy employed by the Seller or the Depositor in the conduct of its business violates, any law, regulation, judgment or agreement applicable to the Seller or the Depositor which, if enforced, would have a material adverse effect on the ability of the Seller or the Depositor to perform its obligations under the Transaction Documents. Except as disclosed in writing to the Insurer or in the Offering Document, neither the Seller nor the Depositor is in breach of or in default under any applicable law or administrative regulation of any department, division, agency or instrumentality which has jurisdiction over it or any applicable judgment or decree or any loan agreement, note, resolution, certificate, agreement or other instrument to which the Seller or the Depositor is a party or is otherwise subject which would have a material adverse affect on its or their ability to perform under the Transaction Documents.