Common use of If Seller Financing Is Used Clause in Contracts

If Seller Financing Is Used. Neither the Prospective Purchaser nor any of its Associated Persons (1) has defaulted on any debts or duties to pay money (including any guaranty) to the FDIC or a Failed Institution that, in the aggregate, exceed $1,000,000, to such an extent that a judgment has been rendered in favor of the FDIC or the property securing the debt has been foreclosed on; and (2) has made any fraudulent misrepresentations in connection with any of these debts or duties. This representation is not required, and has no effect, if the Prospective Purchaser does not finance any portion of the purchase price through financing offered by the FDIC.

If Seller Financing Is Used. Neither the Prospective Purchaser nor any of its Associated Persons (1) has defaulted on any debts or duties to pay money (including any guaranty) to the FDIC or a Failed Institution that, in the aggregate, exceed $1,000,000, to such an extent that a judgment judgement has been rendered in favor of the FDIC or a Failed Institution or the property securing the debt has been foreclosed on; and (2) has made any fraudulent misrepresentations in connection with any of these debts or duties. This representation is not required, and has no effect, if the Prospective Purchaser does not finance any portion of the purchase price through financing offered by the FDIC.

If Seller Financing Is Used. Neither the Prospective Purchaser nor any of its Associated Persons (1) has defaulted on any debts or duties to pay money (including any guaranty) to the FDIC or a Failed Institution that, in the aggregate, exceed $1,000,000, to such an extent that a judgment has been rendered in favor of the FDIC or the property securing the debt has been foreclosed on; and (2) has made any fraudulent misrepresentations in connection with any of these debts or duties. This representation is not required, and has no effect, if the Prospective Purchaser does not finance any portion of the purchase price through financing offered by the FDIC.. REPSC\Over $25,000 – Master – (2-13-2009)