Common use of Due Organization Clause in Contracts

Due Organization. The Seller is an entity duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and has all licenses necessary to carry on its business now being conducted and is licensed, qualified and in good standing under the laws of each state where a Mortgaged Property is located or is otherwise exempt under applicable law from such qualification or is otherwise not required under applicable law to effect such qualification; no demand for such qualification has been made upon the Seller by any state having jurisdiction and in any event the Seller is or will be in compliance with the laws of any such state to the extent necessary to enforce each Mortgage Loan and with respect to Cendant Mortgage, service each Mortgage Loan in accordance with the terms of this Agreement.

Appears in 40 contracts

Samples: Assignment, Assumption and Recognition Agreement (Greenwich Capital Acceptance Thornburg Sec Tr 2003-4), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-3), Servicing Agreement (Structured Asset Sec Mort Pass THR Cert Series 2001-21a)

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Due Organization. The Seller is an entity duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and has all licenses necessary to carry on its business now being conducted and is licensed, qualified and in good standing under the laws of each state where a Mortgaged Property is located or is otherwise exempt under applicable law from such qualification or is otherwise not required under applicable law to effect such qualification; no demand for such qualification has been made upon the Seller by any state having jurisdiction and in any event the Seller is or will be in compliance with the laws of any such state to the extent necessary to enforce each Mortgage Loan and with respect to Cendant PHH Mortgage, service each Mortgage Loan in accordance with the terms of this Agreement.

Appears in 23 contracts

Samples: Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar5), Servicing Agreement (Lehman Mortgage Trust 2007-5), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Ar1)

Due Organization. The Seller is an entity duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and has all licenses necessary to carry on its business now being conducted and is licensed, qualified and in good standing under the laws of each state where a Mortgaged Property is located or is otherwise exempt under applicable law from such qualification or is otherwise not required under applicable law to effect such qualification; no demand for such qualification has been made upon the Seller by any state having jurisdiction and in any event the Seller is or will be in compliance with the laws of any such state to the extent necessary to enforce each Mortgage Loan and with respect to Cendant Mortgage, service each Mortgage Loan in accordance with the terms of this Agreement.Loan;

Appears in 19 contracts

Samples: Mortgage Loan Purchase Agreement (Shellpoint Mortgage Acceptance LLC), Pooling and Servicing Agreement (PHHMC Series 2007-5 Trust), Pooling and Servicing Agreement (PHHMC Series 2007-4 Trust)

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Due Organization. The Seller is an entity duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and has all licenses necessary to carry on its business now being conducted and is licensed, qualified and in good standing under the laws of each state where a Mortgaged Property is located or is otherwise exempt under applicable law from such qualification or is otherwise not required under applicable law to effect such qualification; no demand for such qualification has been made upon the Seller by any state having jurisdiction and in any event the Seller is or will be in compliance with the laws of any such state to the extent necessary to enforce each Mortgage Loan and with respect to Cendant MortgagePHH, service each Mortgage Loan in accordance with the terms of this Agreement.

Appears in 3 contracts

Samples: Mortgage Loan Flow Purchase, Sale & Servicing Agreement, Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Thornburg Mortgage Securities Trust 2006-1), Mortgage Loan Purchase, Sale & Servicing Agreement (J.P. Morgan Mortgage Trust 2006-A1)

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