Legal Compliance - Origination, Funding and Servicing Sample Clauses

Legal Compliance - Origination, Funding and Servicing. As of the date of its origination, and to the actual knowledge of the Seller as of the Closing Date, such Mortgage Loan complied in all material respects with, or was exempt from, all requirements of federal, state or local law relating to the origination, funding and servicing of such Mortgage Loan.
Sample 1Sample 2Sample 3See All (42)
AutoNDA by SimpleDocs
Legal Compliance - Origination, Funding and Servicing. As of the date of its origination and to the Seller's knowledge as of the Cut-off Date, each Mortgage Loan complied in all material respects with, or was exempt from, all requirements of federal, state or local law relating to the origination, funding and servicing of such Mortgage Loan. Schedule IIA REPRESENTATION 4
Sample 1
Legal Compliance - Origination, Funding and Servicing. As of the date of its origination and to the Seller's knowledge as of the Cut-off Date, each Mortgage Loan complied in all material respects with, or was exempt from, all requirements of applicable federal, state or local law relating to the origination, funding and servicing of such Mortgage Loan. Barclays - BACM 2005-1 Schedule IIA EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES Annex A-1 ID # Mortgage Loan Exception --------------------------------------------------------------------------------
Sample 1
Legal Compliance - Origination, Funding and Servicing. As of the date of its origination and to the Seller's knowledge as of the Cut-off Date, each Mortgage Loan complied in all material respects with, or was exempt from, all requirements of applicable federal, state or local law relating to the origination, funding and servicing of such Mortgage Loan. SCHEDULE IIA EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE BANK OF AMERICA MORTGAGE LOANS REPRESENTATION 4 Lien; Valid Assignment. Sotheby's Building (59039) Pursuant to the related estoppel certificate dated as of June 22, 2005, the sole tenant, Sotheby's, has a right of first offer with respect to the related Mortgaged Property subject to certain conditions set forth in Section 23 of the related lease including, but not limited to, no material non-monetary event of default or monetary event of default in excess of $25,000 having occurred and continuing and exclusions from Section 23 for a transfer of the fee interest in the related Mortgage Property or the related landlord's interest in the related lease to the mortgagee (or its wholly owned affiliate) or any other purchaser at a foreclosure sale. The title policy excepts such right from its coverage.
Sample 1
Legal Compliance - Origination, Funding and Servicing. As of the date of its origination and to the Seller's knowledge as of the Cut-off Date, each Mortgage Loan complied in all material respects with, or was exempt from, all requirements of applicable federal, state or local law relating to the origination, funding and servicing of such Mortgage Loan. SCHEDULE IIA Barclays Capxxxx - XXXX 0000-0 Xxxxxxxx XX XXXXXXXXXX XX XXXXXXXXXXXXXXX XXX XXXXXXXXXX
Sample 1
Legal Compliance - Origination, Funding and Servicing. As of the date of its origination and to the Seller's knowledge as of the Cut-off Date, each Mortgage Loan complied in all material respects with, or was exempt from, all requirements of applicable federal, state or local law relating to the origination, funding and servicing of such Mortgage Loan. SCHEDULE IIA EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE BANK OF AMERICA MORTGAGE LOANS REPRESENTATION 7 Casualty; Condemnation; Encroachments. Indian River Mall Certain of the improvements suffered hurricane damage & Commons (58455) totaling approximately $259,000 in damage. As of Xxxruary 28, 2005 approximately 65% of the repairs for such damage had been completed.
Sample 1
Legal Compliance - Origination, Funding and Servicing. As of the date of its origination and to the Seller's knowledge as of the Cut-off Date, each Mortgage Loan complied in all material respects with, or was exempt from, all requirements of applicable federal, state or local law relating to the origination, funding and servicing of such Mortgage Loan. SCHEDULE IIA EXCEPTIONS TO MORTGAGE LOAN REPRESENTATIONS AND WARRANTIES Schedule IIA to 2005 BACM-04 MLPA Exceptions to Representations and Warranties REP NO. LOAN NO. LOAN NAME EXPLANATION 14 Insurance 42556 BJ's Wholesale There is no business Club interruption coverage; while the lease does not provide for self insurance for business interruption, Bear's credit committee waived Borrower's requirement to provide BI if the Tenant maintains total assets of $500mm and an aggregate net worth of $250,000,000. BJ's cannot abate rent per the lease in the event of casualty/condemnation. 28 Releases of Mortgaged 43116 105-113 Wooster The Loan provides for Property St. the release of up to 3 residential condominium units upon payment of 100% of the allocated loan amount with yield maintenance or 1% and achieving a 1.05x DSCR and 80%LTV. 42556 BJ's Wholesale The Loan provides for the release of an outparcel. 43352 ACV VI Portfolio The Loan provides for release of an individual property by defeasance at 120% and 125% of allocated loan amount. Among other things, the release shall not be permitted if the DSCR and LTV tests are not satisfied. 43556 Gibraltar The related Mortgagor Portfolio may obtain substitution of property upon the satisfaction of certain legal and underwriting requirements. 43403 Cooper's Plaza The Loan provides xxx xxx release of an outparcel. 43593 Coach The Loan provides for the release of an outparcel. 34 Due on Sale 43641 The Crossings Borrower has incurred a $9.9 million Loan to an affiliate secured by a mezzanine pledge. The loan is secured by 100% of the ownership interests in the indirect parent of the Crossings Borrower.
Sample 1
AutoNDA by SimpleDocs
Legal Compliance - Origination, Funding and Servicing. As of the date of its origination and to the Seller's knowledge as of the Cut-off Date, each Mortgage Loan complied in all material respects with, or was exempt from, all requirements of applicable federal, state or local law relating to the origination, funding and servicing of such Mortgage Loan. SCHEDULE IIA EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE BANK OF AMERICA MORTGAGE LOANS REPRESENTATION 5 Assignment of Leases and Rents. To the extent that the related Mortgage Loan borrower leases all or part of the related Mortgaged Property to a master lessee, which master lessee enters into leases with tenants of such related Mortgaged Property, such master lessee owns an interest in any payments due under such related leases. REPRESENTATION 9 No Holdback.
Sample 1
Legal Compliance - Origination, Funding and Servicing. As of the date of its origination and to the Seller's knowledge as of the Cut-off Date, each Mortgage Loan complied in all material respects with, or was exempt from, all requirements of applicable federal, state or local law relating to the origination, funding and servicing of such Mortgage Loan. SCHEDULE IIA ------------ EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES WITH ------------------------------------------------- RESPECT TO THE BANK OF AMERICA MORTGAGE LOANS --------------------------------------------- REPRESENTATION 6 Mortgage Status; Waivers and Modifications. ------------------------------------------- The Promenade at Mission Viejo (58329) The related Loan Agreement has been modified to amend the definition of "Operating Income".
Sample 1

Related to Legal Compliance - Origination, Funding and Servicing

  • Amendment of the Pooling and Servicing Agreement The Pooling and Servicing Agreement is hereby amended to provide that all references therein to the “Pooling and Servicing Agreement,” to “this Agreement” and to “herein” shall be deemed from and after the Removal Date to be a dual reference to the Pooling and Servicing Agreement as supplemented by this Reassignment. Except as expressly amended hereby, all of the representations, warranties, terms, covenants and conditions of the Pooling and Servicing Agreement shall remain unamended and shall continue to be, and shall remain, in full force and effect in accordance with its terms and except as expressly provided herein shall not constitute or be deemed to constitute a waiver of compliance with or a consent to non-compliance with any term or provision of the Pooling and Servicing Agreement.

  • Servicing and Maintenance Standards On behalf of the Issuer, the Servicer shall (a) manage, service, administer, bill, collect and calculate Securitized Utility Tariff Charges in accordance with the Securitization Law and post collections in respect of the Securitized Utility Tariff Property with reasonable care and in material compliance with applicable Requirements of Law, including all applicable MPSC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account and, if applicable, for others; (b) follow customary standards, policies and procedures for the industry in Missouri in performing its duties as Servicer; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce, and maintain rights in respect of, the Securitized Utility Tariff Property and to bill and collect the Securitized Utility Tariff Charges; (d) comply with all Requirements of Law, including all applicable MPSC Regulations and guidelines, applicable to and binding on it relating to the Securitized Utility Tariff Property; (e) file all MPSC notices described in the Securitization Law and file and maintain the effectiveness of UCC financing statements with respect to the property transferred under the Sale Agreement, and (f) take such other action on behalf of the Issuer to ensure that the Lien of the Indenture Trustee on the Securitized Utility Tariff Collateral remains perfected and of first priority. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of all or any portion of the Securitized Utility Tariff Property, which, in the Servicer’s judgment, may include the taking of legal action, at the Issuer’s expense but subject to the priority of payments set forth in Section 8.02(e) of the Indenture.

  • Pooling and Servicing Agreement The Pooling and Servicing Agreement, dated as of June 1, 2003, among Bear Xxxxxxx Asset Backed Securities Inc., as depositor, EMC Mortgage Corporation, as seller and servicer, Xxxxx Fargo Bank, National Association, as master servicer and securities administrator and JPMorgan Chase Bank, as trustee, as amended.

  • Administration and Servicing OF MORTGAGE LOANS

  • Administration and Servicing of Mortgage Loans 45 Section 3.01. Master Servicer to Act as Servicer...................................45 Section 3.02. Subservicing Agreements Between Master Servicer and Subservicers; Enforcement of Subservicers' and Sellers' Obligations.........46

  • ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS Section 3.01 Master Servicer to Act as Master Servicer; Administration of the Mortgage Loans; Sub-Servicing Agreements; Outside Serviced Mortgage Loans 185 Section 3.02 Liability of the Master Servicer 197 Section 3.03 Collection of Certain Mortgage Loan Payments 198 Section 3.04 Collection of Taxes, Assessments and Similar Items; Escrow Accounts 200

  • Performance and Compliance with Contracts and Credit and Collection Policy The Seller shall (and shall cause the Servicer to), at its expense, timely and fully perform and comply with all material provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, and timely and fully comply in all material respects with the applicable Credit and Collection Policies with regard to each Receivable and the related Contract.

  • Administration and Servicing of Contracts 43 SECTION 3.01

  • Administration and Servicing of Receivables Prior to the Certificate Trust Termination Date, the Receivables shall be serviced as provided in the Pooling and Servicing Agreement and this Article III shall have no effect. On and after the Certificate Trust Termination Date:

  • Investment; Access to Data The undersigned has carefully reviewed and understands the risks of, and other considerations relating to, a purchase of the Common Stock and an investment in the Company. The undersigned has been furnished materials relating to the Company, the private placement of the Common Stock or anything else that it has requested and has been afforded the opportunity to ask questions and receive answers concerning the terms and conditions of the offering and obtain any additional information which the Company possesses or can acquire without unreasonable effort or expense. Representatives of the Company have answered all inquiries that the undersigned has made of them concerning the Company, or any other matters relating to the formation and operation of the Company and the offering and sale of the Common Stock. The undersigned has not been furnished any offering literature other than the materials that the Company may have provided at the request of the undersigned; and the undersigned has relied only on such information furnished or made available to the undersigned by the Company as described in this Section. The undersigned is acquiring the Shares for investment for the undersigned's own account, not as a nominee or agent and not with the view to, or for resale in connection with, any distribution thereof. The undersigned acknowledges that the Company is a start-up company with no current operations, assets or operating history, which may possibly cause a loss of Purchaser’s entire investment in the Company.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!