Common use of Immediate Covenant Default Clause in Contracts

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 11(a) (Preservation of Existence; Compliance with Law); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (Organization); (v) (Approved Underwriting Guidelines);(w) (Agency Approvals; Servicing); (z) (Takeout Payments) or (cc) (Trade Assignment); or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 11(a) (Preservation of Existence; Compliance with Law); (d) (Financial Reporting); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (Organization); (t) (Mortgage Loan Reports); (v) (Approved Underwriting Guidelines);(w) (Agency Approvals; Servicing); (zy) (Takeout Payments) or ); (cc) (Trade Assignment); or (hh) (No Division/Series Transactions); or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 11(a12(a) (Preservation of Existence; Compliance with Law); (f) (True and Correct Information)) solely to the extent such information is intentionally or materially false and misleading; (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (Organization); (v) (Approved Underwriting Guidelines);(ww) (Agency Approvals; Servicing); (z) (Takeout Payments) or (cc) (Trade AssignmentAssignments); or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 11(a) (Preservation of Existence; Compliance with Law); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (Organization); (v) (Approved Underwriting Guidelines);(wOrganization);(w) (Agency Approvals; Servicing); (z) (Takeout Payments) or (cc) (Trade Assignment); or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 11(a13(a)(i) or (ii) (Preservation of Existence; Compliance with Law); (fh) (True and Correct Information); (g) (ERISA Events); (hj) (Financial Condition Covenants); (k) (InsuranceNo Adverse Selection); (mn) (Illegal Activities.); (no) (Material Change in Business); (op) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (OrganizationERISA Matters); or (vt) (Approved Underwriting Guidelines);(w) (Agency Approvals; Servicing); (z) (Takeout Payments) or (cc) (Trade AssignmentConsolidations, Mergers and Sales of Assets); or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to a Seller Party contained in any of Sections 11(a12(a)(i) (Preservation of Existence; Compliance with Law); (b)(ii) (Real Estate Investment Trust); (d) (Financial Reporting); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); or (s) (Organization); (v) (Approved Underwriting Guidelines);(w) (Agency Approvals; Servicing); (z) (Takeout Payments) or (cc) (Trade Assignment); or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 11(a12(a) (Preservation of Existence; Compliance with Law); (d) (Financial Reporting); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (Organization); (t) (Mortgage Loan Reports); (v) (Approved Underwriting Guidelines);(w) (Agency Approvals; Servicing); (z) (Takeout Payments) or (ccbb) (Trade Assignment); or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to a Seller Party contained in in: (i) any of Sections 11(a12(a)(i) (Preservation of Existence; Compliance with Law); (d) (Financial Reporting); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (Organization); (v) (Approved Underwriting Guidelines);(w) (Agency Approvals; Servicing); or (z) (Takeout PaymentsAmendments) of this Agreement; or (ii) Sections 10(a)(i) (Preservation of Existence); (a)(ii) (Compliance with Law); (c) (True and Correct Information); (g) (Financial Condition Covenants); (h) (Illegal Activities); (i) (Material Change in Business); (j) (Limitation on Dividends and Distributions); (k) (Transactions with Affiliates); or (ccn) (Trade Assignment)Financial Reporting) of the Program Guaranty; or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to a Seller Party contained in any of Sections 11(a12(a)(i) (Preservation of Existence; Compliance with Law); (b)(ii) (Real Estate Investment Trust); (d)(i) or (ii) (Financial Reporting); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (Organization); (vu) (Approved Underwriting Guidelines);(w) (Agency Approvals; ServicingGuidelines); (zv) (Takeout Payments) Amendments); or (ccw) (Trade AssignmentMezzanine Subsidiary Separateness); or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 11(a) (Preservation of Existence; Compliance with Law); (d) (Financial Reporting); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (Organization); (t) (Mortgage Loan Reports); (v) (Approved Underwriting Guidelines);(w) (Agency Approvals; Servicing); (zy) (Takeout Payments) or (cc) (Trade Assignment); or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 11(a13(a)(i) or (ii) (Preservation of Existence; Compliance with Law); (fh) (True and Correct Information); (g) (ERISA Events); (hj) (Financial Condition Covenants); (k) (InsuranceNo Adverse Selection); (mn) (Illegal Activities.); (no) (Material Change in Business); (op) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (OrganizationERISA Matters); (t) (Consolidations, Mergers and Sales of Assets); or (v) (Approved Underwriting Guidelines);(w) (Agency Approvals; Servicing); (z) (Takeout Payments) or (cc) (Trade Assignment)Matters; or

Immediate Covenant Default. The failure of a the Seller Party to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 11(a) (Preservation of Existence; Compliance with Law); (d) (Financial Reporting); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (Organization); (v) (Approved Underwriting Guidelines);(ww) (Agency Approvals; Servicing); ) or (z) (Takeout Payments) or (cc) (Trade Assignment); or

Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement applicable to Seller contained in any of Sections 11(a) (Preservation of Existence; Compliance with Law); (d) (Financial Reporting); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants); (k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on 58 Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (Organization); (t) (Mortgage Loan Reports); (v) (Approved Underwriting Guidelines);(w) (Agency Approvals; Servicing); (zy) (Takeout Payments) or ); (cc) (Trade Assignment); or (hh) (No Division/Series Transactions); or

Immediate Covenant Default. The failure of a any Seller Party to perform, comply with or observe any term, covenant or agreement applicable to such Seller Party contained in any of Sections 11(a13(a)(i) or (ii) (Preservation of Existence; Compliance with Law); (fh) (True and Correct Information); (g) (ERISA Events); (hj) (Financial Condition Covenants); (k) (InsuranceNo Adverse Selection); (mn) (Illegal Activities.); (no) (Material Change in Business); (op) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions with Affiliates); (s) (OrganizationERISA Matters); (t) (Consolidations, Mergers and Sales of Assets); (v) (Approved Underwriting Guidelines);(wAgency Matters); or (bb) (Agency Approvals; Servicing); (z) (Takeout Payments) or (cc) (Trade AssignmentSpecial Purpose Entity); or