Common use of Due Diligence in Servicing Loans Clause in Contracts

Due Diligence in Servicing Loans. Seller and any independent servicer have each exercised and shall continue until the Scheduled Sale Date to exercise due diligence and reasonable care in making, administering, Servicing and collecting the Eligible Loans and Seller has conducted a reasonable investigation of sufficient scope and content to enable it duly to make the representations and warranties contained in this Agreement. Seller has paid the costs and expenses incident to origination of the Eligible Loans, and has no right of reimbursement therefor from Purchaser.