Common use of Covenants of Sponsor to Take Clause in Contracts

Covenants of Sponsor to Take. Certain Actions with Respect to the Mortgage Loans In Certain Situations. (a) With the provisos and limitations as to remedies set forth in this Section 3.04, upon the discovery by the Sponsor, the Master Servicer, the Note Insurer, any Sub-Servicer or the Indenture Trustee that the representations and warranties set forth in Section 3.03 of this Agreement or in the Mortgage Loan Transfer Agreement were untrue in any material respect as of the Closing Date (or the Subsequent Transfer Date, as the case may be) and such breaches of the representations and warranties materially and adversely affect the interests of the Noteholders or of the Note Insurer, the party discovering such breach shall give prompt written notice to the other parties. The Sponsor acknowledges that a breach of any representation or warranty (x) relating to marketability of title sufficient to transfer unencumbered title to a Mortgage Loan or (y) relating to enforceability of the Mortgage Loan against the related Mortgagor or Property,

Covenants of Sponsor to Take. Certain Actions with Respect to the Mortgage Loans In in Certain Situations. (a) With the provisos and limitations as to remedies set forth in this Section 3.04, upon the discovery by any Originator, the Sponsor, the Master Servicer, the Note Certificate Insurer, any Sub-Servicer or the Indenture Trustee that the representations and warranties set forth in Section 3.03 of this Agreement or in the Mortgage Loan Transfer Agreement were untrue in any material respect as of the Closing Date (or the Subsequent Transfer Date, as the case may be) Startup Day and such breaches of the representations and warranties materially and adversely affect the interests of the Noteholders Owners or of the Note Certificate Insurer, the party discovering such breach shall give prompt written notice to the other parties. The Sponsor acknowledges that a breach of any representation or warranty (x) relating to marketability of title sufficient to transfer unencumbered title to a Mortgage Loan or Loan, (y) relating to enforceability of the Mortgage Loan against the related Mortgagor or Property,Property or (z) set forth in clause (vii) of Section 3.03(a) above constitutes breach of a representation or warranty which materially and adversely affects the interests of the Owners or of the Certificate Insurer in such Mortgage Loan.

Covenants of Sponsor to Take. Certain Actions with Respect to the Mortgage Loans In in Certain Situations. (a) With the provisos and limitations as to remedies set forth in this Section 3.04, upon the discovery by any Originator, the Sponsor, the Master Servicer, the Note Certificate Insurer, any Sub-Servicer or the Indenture Trustee that the representations and warranties set forth in Section 3.03 of this Agreement or in the Mortgage Loan Transfer Agreement were untrue in any material respect as of the Closing Date Startup Day (or the Subsequent Transfer Date, as the case may be) and such breaches of the representations and warranties materially and adversely affect the interests of the Noteholders Owners or of the Note Certificate Insurer, the party discovering such breach shall give prompt written notice to the other parties. The Sponsor acknowledges that a breach of any representation or warranty (x) relating to marketability of title sufficient to transfer unencumbered title to a Mortgage Loan or Loan, (y) relating to enforceability of the Mortgage Loan against the related Mortgagor or Property,Property or (z) set forth in clause (vii) of Section 3.03(a) above constitutes breach of a representation or warranty which materially and adversely affects the interests of the Owners or of the Certificate Insurer in such Mortgage Loan.

Covenants of Sponsor to Take. Certain Actions with Respect to the Mortgage Loans In Certain Situations. (a) With the provisos and limitations as to remedies set forth in this Section 3.043.4, upon the discovery by any Originator, the Sponsor, the Master Servicer, the Note Certificate Insurer, any Sub-Servicer or the Indenture Trustee that the representations and warranties set forth in Section 3.03 3.3 of this Agreement or in the Mortgage Loan Master Transfer Agreement were untrue in any material respect as of the Closing Date (or the Subsequent Transfer Date, as the case may be) respective dates indicated therein and such breaches of the representations and warranties materially and adversely affect the interests of the Noteholders Owners or of the Note Certificate Insurer, the party discovering such breach shall give prompt written notice to the other parties. The Sponsor acknowledges that a breach of any representation or warranty (x) relating to marketability of title sufficient to transfer unencumbered title to a Mortgage Loan or Loan, (y) relating to enforceability of the Mortgage Loan against the related Mortgagor or Property,Property or (z) set forth in clauses (viii) or (x) of Section 3.3(a) above constitutes breach of a representation or warranty which "materially and adversely affects the interests of the Owners or of the Certificate Insurer" in such Mortgage Loan.

Covenants of Sponsor to Take. Certain Actions with Respect to the Mortgage Loans In Certain Situations. (a) With the provisos and limitations as to remedies set forth in this Section 3.043.4, upon the discovery by the Sponsor, the Master Servicer, the Note Sponsor, the Insurer, any Sub-Servicer or the Indenture Trustee that the representations and warranties set forth in Section 3.03 3.3 of this Agreement or in the Mortgage Loan Transfer Agreement were untrue in any material respect as of the Closing Date (or the Subsequent Transfer Date, or the Transfer Date, as the case may be) and such breaches of the representations and warranties materially and adversely affect the interests of the Class A Noteholders or of the Note Insurer, the party discovering such breach shall give prompt written notice to the other parties. The Sponsor acknowledges that a breach of any representation or warranty (x) relating to marketability of title sufficient to transfer unencumbered title to a Mortgage Loan or Loan, (y) relating to enforceability of the Mortgage Loan against the related Mortgagor or Property,Mortgaged Property or (z) set forth in clause (viii) of Section 3.3 above constitutes breach of a representation or warranty which "materially and adversely affects the interests of the Class A Noteholders or of the Insurer" in such Mortgage Loan.

Covenants of Sponsor to Take. Certain Actions with Respect to the Mortgage Loans In Certain Situations. (a) With the provisos and limitations as to remedies set forth in this Section 3.043.4, upon the discovery by the Sponsor, the Master Servicer, the Note Sponsor, the Insurer, any Sub-Servicer or the Indenture Trustee that the representations and warranties set forth in Section 3.03 3.3 of this Agreement or in the Mortgage Loan Transfer Agreement were untrue in any material respect as of the Closing Date (or the Subsequent Transfer Date, as the case may be) and such breaches of the representations and warranties materially and adversely affect the interests of the Class A Noteholders of the related Class or of the Note Insurer, the party discovering such breach shall give prompt written notice to the other parties. The Sponsor acknowledges that a breach of any representation or warranty (x) relating to marketability of title sufficient to transfer unencumbered title to a Mortgage Loan or Loan, (y) relating to enforceability of the Mortgage Loan against the related Mortgagor or Property,Mortgaged Property or (z) set forth in clause (viii) of Section 3.3 above constitutes breach of a representation or warranty which "materially and adversely affects the interests of the Class A Noteholders or of the Insurer" in such Mortgage Loan.

Covenants of Sponsor to Take. Certain Actions with Respect to the Mortgage Loans In Certain Situations. (a) With the provisos and limitations as to remedies set forth in this Section 3.043.4, upon the discovery by any Originator, the Sponsor, the Master Servicer, the Note Class A-6 Certificate Insurer, any Sub-Servicer or the Indenture Trustee that the representations and warranties set forth in Section 3.03 3.3 of this Agreement or in the Mortgage Loan Master Transfer Agreement were untrue in any material respect as of the Closing Date (or the Subsequent Transfer Date, as the case may be) Startup Day and such breaches of the representations and warranties materially and adversely affect the interests of the Noteholders Owners or of the Note Class A-6 Certificate Insurer, the party discovering such breach shall give prompt written notice to the other parties. The Sponsor acknowledges that a breach of any representation or warranty (x) relating to marketability of title sufficient to transfer unencumbered title to a Mortgage Loan or Loan, (y) relating to enforceability of the Mortgage Loan against the related Mortgagor or Property,Property or (z) set forth in clause (viii) of Section 3.3 above constitutes breach of a representation or warranty which "materially and adversely affects the interests of the Owners or of the Class A-6 Certificate Insurer in such Mortgage Loan.