Common use of Grantor Status; Licensing Clause in Contracts

Grantor Status; Licensing. Debtor shall, at all times, constitute a limited liability company organized under the laws of the State of Delaware and a Single Purpose Entity. Each Subsidiary Grantor shall at all times be a Single Purpose Entity. As soon as reasonably practical after the Closing Date, Debtor (on its own behalf or, if applicable, on behalf of the Ownership Entities which hold Acquired Property) shall apply for and, thereafter, use its reasonable best efforts to obtain as quickly as possible, and maintain, all such licenses as are required to conduct its business, including qualifications to conduct business in jurisdictions other than Delaware and licenses to purchase, own or service the Underlying Loans and, if applicable, operate, manage, lease and dispose of Acquired Property, if the failure to so obtain such licenses would reasonably be expected to result in the imposition of fines, penalties or other liabilities on Debtor, claims and defenses being asserted against Debtor (including counterclaims and defense asserted by Underlying Borrowers), or materially adversely affect Debtor or Debtor’s ability to foreclose on the Underlying Collateral securing or otherwise realize the full value of any Underlying Loan or Acquired Property.

Grantor Status; Licensing. The Debtor shall, at all times, times shall constitute a limited liability company organized under pursuant to the laws of the State of Delaware and a Single Purpose Entity. Each Subsidiary Grantor shall at all times shall be a Single Purpose Entity. As soon as reasonably practical after the Closing Date, the Debtor (on its own behalf or, if applicable, on behalf of the Ownership Entities which that hold Acquired Property) shall apply for and, thereafter, and thereafter use its reasonable best efforts to obtain as quickly as possible, and maintain, all such licenses as are required to conduct its business, including qualifications to conduct business in jurisdictions other than Delaware and licenses to purchase, own or service the Underlying Loans Assets and, if applicable, operate, manage, lease and dispose of Acquired Property, if the failure to so obtain such licenses reasonably would reasonably be expected to result in the imposition of fines, penalties or other liabilities on the Debtor, claims and defenses being asserted against the Debtor (including counterclaims and defense asserted by Underlying Borrowers), ) or materially adversely affect the Debtor or the Debtor’s ability to foreclose on the Underlying Collateral securing or otherwise realize the full value of any Underlying Loan or Acquired PropertyAsset.

Grantor Status; Licensing. The Debtor shall, at all times, constitute a limited liability company organized under the laws of the State of Delaware and a Single Purpose Entity. Each Subsidiary Grantor shall at all times be a Single Purpose Entity. As soon as reasonably practical after the Closing Date, the Debtor (on its own behalf or, if applicable, on behalf of the Ownership Entities which hold Acquired Property) shall apply for and, thereafter, use its reasonable best efforts to obtain as quickly as possible, and maintain, all such licenses as are required to conduct its business, including qualifications to conduct business in jurisdictions other than Delaware and licenses to purchase, own or service the Underlying Mortgage Loans and, if applicable, operate, manage, lease and dispose of Acquired Property, if the failure to so obtain such licenses would reasonably be expected to result in the imposition of fines, penalties or other liabilities on the Debtor, claims and defenses being asserted against Debtor (including counterclaims and defense asserted by Underlying Borrowers), or materially adversely affect the Debtor or the Debtor’s ability to foreclose on the Underlying Collateral securing or otherwise realize the full value of any Underlying Mortgage Loan or Acquired Property.

Grantor Status; Licensing. Debtor shall, at all times, constitute a limited liability company organized under the laws of the State of Delaware and a Single Purpose Entity. Each Subsidiary Grantor shall at all times be a Single Purpose Entity. As soon as reasonably practical after the Closing Date, Debtor (on its own behalf or, if applicable, on behalf of the Ownership Entities which hold Acquired Property) shall apply for and, thereafter, use its reasonable best efforts to obtain as quickly as possible, and maintain, all such licenses as are required to conduct its business, including qualifications to conduct business in jurisdictions other than Delaware and licenses to purchase, own or service the Underlying Loans and, if applicable, operate, manage, lease and dispose of Acquired Property, if the failure to so obtain such licenses would reasonably be expected to result in the imposition of fines, penalties or other liabilities on Debtor, claims and defenses being asserted against Debtor (including counterclaims and defense asserted by Underlying Borrowers), or materially adversely affect Debtor or Debtor’s ability to foreclose on the Underlying Collateral securing or otherwise realize the full value of any Underlying Loan or Acquired Property.