Common use of Insurance Premium Loans Clause in Contracts

Insurance Premium Loans. (i) As of each Transfer Effective Date, each Insurance Premium Loan in which a Participation is granted or sold by the Originator hereunder is an Eligible Insurance Premium Loan and the grant, sale and purchase hereunder of a Participation in such Insurance Premium Loans and Collections arising thereunder do not conflict with, result in a breach of any of the provisions of, or constitute (with or without notice or lapse of time or both) a default under, any agreements evidencing such Insurance Premium Loan; (ii) As of any Transfer Effective Date, each Insurance Premium Loan on such date is the valid, binding and enforceable obligation of each obligor thereunder; (iii) As of any Transfer Effective Date, each Insurance Premium Loan on such date was originated by the Originator in the ordinary course of the Originator’s premium finance lending activities and in accordance with all Requirements of Law; (iv) As of any Transfer Effective Date, the information set forth in the applicable Participation Certificate with respect to each Insurance Premium Loan therein was correct; (v) With respect to each Insurance Premium Loan in which a Participation is granted or sold by the Originator, the Originator represents and warrants that each such Insurance Premium Loans has been originated in accordance with the applicable criteria set forth in the Transaction Documents; (vi) As of any Transfer Effective Date, no payment default exists with respect to any Insurance Premium Loan; (vii) As of any Transfer Effective Date, no event or circumstance under Section V.A or Section V.B. of the Collateral Value Policy has occurred; (viii) As of any Transfer Effective Date, the Originator (A) has not committed a Prohibited Act (as defined in the Collateral Value Policy) and (B) is not aware that any Prohibited Act has been committed by any Person with respect to an Insurance Premium Loan in which a Participation is granted or sold by the Originator; and (ix) As of any Transfer Effective Date, no policy loan, cash withdrawal or surrender has occurred with respect to the Life Insurance Policy related to the Insurance Premium Loan in which a Participation is granted or sold by the Originator.

Insurance Premium Loans. (i) As of each Transfer Effective the Settlement Date, each Insurance Premium Loan in which a Participation is granted or sold by the Originator Assignor hereunder is an Eligible Insurance Premium Loan and the grant, sale and purchase hereunder of a Participation in such Insurance Premium Loans and Collections arising thereunder do not conflict with, result in a breach of any of the provisions of, or constitute (with or without notice or lapse of time or both) a default under, any agreements evidencing such Insurance Premium Loan; (ii) As of any Transfer Effective the Settlement Date, each Insurance Premium Loan on such date is the valid, binding and enforceable obligation of each obligor thereunder; (iii) As of any Transfer Effective the Settlement Date, each Insurance Premium Loan on such date was originated by the Originator Assignor in the ordinary course of the OriginatorAssignor’s premium finance lending activities and in accordance with all Requirements of Law; (iv) As of any Transfer Effective Settlement Date, the information set forth in the applicable Participation Certificate this Assignment Agreement with respect to each Insurance Premium Loan therein was is correct; (v) With respect to each Insurance Premium Loan in which a Participation is granted or sold by the OriginatorAssignor, the Originator Assignor represents and warrants that each such Insurance Premium Loans has been originated in accordance with the applicable criteria set forth in the Transaction Documents; (vi) As of any Transfer Effective the Settlement Date, no payment default exists with respect to any Insurance Premium Loan; (vii) As of any Transfer Effective the Settlement Date, no event or circumstance under Section V.A or Section V.B. V.B of the Collateral Value Policy has occurred; (viii) As of any Transfer Effective the Settlement Date, the Originator Assignor (A) has not committed a Prohibited Act (as defined in the Collateral Value Policy) and (B) is not aware that any Prohibited Act has been committed by any Person with respect to an Insurance Premium Loan in which a Participation an interest is granted or sold by the OriginatorAssignor hereunder; and (ix) As of any Transfer Effective the Settlement Date, no policy loan, cash withdrawal or surrender has occurred with respect to the Life Insurance Policy related to the Insurance Premium Loan in which a Participation an interest is granted or sold by the OriginatorAssignor hereunder.

Insurance Premium Loans. (i) As of each Transfer Effective the Settlement Date, each Insurance Premium Loan in which a Participation is granted or sold by the Originator Assignor hereunder is an Eligible Insurance Premium Loan and the grant, sale and purchase hereunder of a Participation in such Insurance Premium Loans and Collections arising thereunder do not conflict with, result in a breach of any of the provisions of, or constitute (with or without notice or lapse of time or both) a default under, any agreements evidencing such Insurance Premium Loan; (ii) As of any Transfer Effective the Settlement Date, each Insurance Premium Loan on such date is the valid, binding and enforceable obligation of each obligor thereunder; (iii) As of any Transfer Effective the Settlement Date, each Insurance Premium Loan on such date was originated by the Originator Assignor in the ordinary course of the OriginatorAssignor’s premium finance lending activities and in accordance with all Requirements of Law; (iv) As of any Transfer Effective Settlement Date, the information set forth in the applicable Participation Certificate this Assignment Agreement with respect to each Insurance Premium Loan therein was is correct; (v) With respect to each Insurance Premium Loan in which a Participation is granted or sold by the OriginatorAssignor, the Originator Assignor represents and warrants that each such Insurance Premium Loans has been originated in accordance with the applicable criteria set forth in the Transaction Documents; (vi) As of any Transfer Effective the Settlement Date, no payment default exists with respect to any Insurance Premium Loan; (vii) As of any Transfer Effective the Settlement Date, no event or circumstance under Section V.A or Section V.B. V.B of the Collateral Value Policy or Contingent Collateral Value Policy has occurred; (viii) As of any Transfer Effective the Settlement Date, the Originator Assignor (A) has not committed a Prohibited Act (as defined in the Collateral Value Policy or Contingent Collateral Value Policy) and (B) is not aware that any Prohibited Act has been committed by any Person with respect to an Insurance Premium Loan in which a Participation an interest is granted or sold by the OriginatorAssignor hereunder; and (ix) As of any Transfer Effective the Settlement Date, no policy loan, cash withdrawal or surrender has occurred with respect to the Life Insurance Policy related to the Insurance Premium Loan in which a Participation an interest is granted or sold by the OriginatorAssignor hereunder.