Common use of Enforceability; Compliance with Laws Clause in Contracts

Enforceability; Compliance with Laws. Each Receivable sold by OLS is enforceable in accordance with its terms set forth in the related Designated Servicing Agreement. Each Advance made by OLS complied with all applicable laws, including those relating to consumer protection, is valid and enforceable and, at the time it is sold to HLSS, will not be subject to any set-off, counterclaim or other defense to payment by the Obligor, the related MBS Trust, MBS Trustee or any other party.

Enforceability; Compliance with Laws. Each Receivable sold by OLS is enforceable in accordance with its terms set forth in the related Designated Servicing Agreement. Each Advance made by OLS complied with all applicable laws, including those relating to consumer protection, is valid and enforceable and, at the time it is sold to HLSS, will not be subject to any set-off, counterclaim or other defense to payment by the Obligor, the related MBS TrustMortgage Pool, MBS Trustee or any other party.