Common use of Loan Document Status Clause in Contracts

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 262 contracts

Samples: Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2024-5c31), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2024-5c31), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2024-5c31)

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Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 203 contracts

Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C59), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2021-C9), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2021-C9)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 188 contracts

Samples: Mortgage Loan Purchase Agreement (3650R 2022-Pf2 Commercial Mortgage Trust), Mortgage Loan Purchase Agreement (CSAIL 2021-C20 Commercial Mortgage Trust), Mortgage Loan Purchase Agreement (CSAIL 2021-C20 Commercial Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 167 contracts

Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2014-Lc16), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2014-Lc16), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2014-Lc16)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 156 contracts

Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs4), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs4), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs4)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 106 contracts

Samples: Mortgage Loan Purchase Agreement (Citigroup Commercial Mortgage Trust 2019-C7), Mortgage Loan Purchase Agreement (Citigroup Commercial Mortgage Trust 2019-C7), Mortgage Loan Purchase Agreement (Citigroup Commercial Mortgage Trust 2019-C7)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 105 contracts

Samples: Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2014-Gc26), Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2014-Gc26), Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2014-Gc26)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment premium/Yield Maintenance Chargeyield maintenance charges) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 98 contracts

Samples: Mortgage Loan Purchase Agreement (BMO 2024-5c8 Mortgage Trust), Mortgage Loan Purchase Agreement (BMO 2024-5c8 Mortgage Trust), Mortgage Loan Purchase Agreement (BMO 2024-5c8 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 90 contracts

Samples: Mortgage Loan Purchase Agreement (BMO 2024-5c8 Mortgage Trust), Mortgage Loan Purchase Agreement (BMO 2024-C10 Mortgage Trust), Mortgage Loan Purchase Agreement (BMO 2024-C10 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 80 contracts

Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C59), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C59), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C59)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by the Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 73 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2024-V11 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2024-V11 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2024-V11 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 71 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2024-V12 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2024-V12 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2024-V12 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 61 contracts

Samples: Mortgage Loan Purchase Agreement (Bank5 2024-5yr11), Mortgage Loan Purchase Agreement (Bank 2024-Bnk48), Mortgage Loan Purchase Agreement (Bank5 2024-5yr10)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and each other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection Mortgagor with such respect to each Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or one form of action law or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium receivership, fraudulent transfer and conveyance or other similar laws affecting the enforcement of creditors' rights generally and generally, (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and (iii) public policy considerations underlying applicable securities laws, to the extent that such public policy considerations limit the enforceability of provisions that purport to provide indemnification from liabilities under applicable securities laws, and except that certain provisions in such Mortgage Loan loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth abovein the foregoing clauses (i) and (ii)) such limitations or unenforceability will not render such Mortgage Loan loan documents invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”)thereby. Except as set forth in the immediately preceding sentence, there There is no valid offset, defense, counterclaim or right of offset or rescission available to the related Mortgagor with respect to any of the related such Mortgage NotesNote, Mortgages Mortgage or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, agreements that would deny the Mortgagee mortgagee the principal benefits intended to be provided by thereby, except in each case, with respect to the Mortgage Noteenforceability of any provisions requiring the payment of default interest, Mortgage late fees, additional interest, prepayment premiums or other Mortgage Loan documentsyield maintenance charges.

Appears in 33 contracts

Samples: Mortgage Loan Purchase Agreement (ML-CFC Commercial Mortgage Trust 2006-3), Mortgage Loan Purchase Agreement (ML-CFC Commercial Mortgage Trust 2006-4), Mortgage Loan Purchase Agreement (ML-CFC Commercial Mortgage Trust 2006-4)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 26 contracts

Samples: Mortgage Loan Purchase Agreement (CD 2016-Cd2 Mortgage Trust), Mortgage Loan Purchase Agreement (CD 2016-Cd2 Mortgage Trust), Mortgage Loan Purchase Agreement (COMM 2016-Cor1 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 25 contracts

Samples: Mortgage Loan Purchase Agreement (3650 REIT Commercial Mortgage Securities II LLC), Mortgage Loan Purchase Agreement (3650 REIT Commercial Mortgage Securities II LLC), Mortgage Loan Purchase Agreement (3650 REIT Commercial Mortgage Securities LLC)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 25 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2022-B32 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2021-B28 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2021-B25 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby law (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 24 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2023-V2 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2022-B35 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2021-B31 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby thereby) (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 21 contracts

Samples: Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C14), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C14), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C14)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment premium/Yield Maintenance Chargeyield maintenance charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 19 contracts

Samples: Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2020-C8), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2020-C8), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2020-C8)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and each other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection Mortgagor with such respect to each Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium receivership, fraudulent transfer and conveyance or other similar laws affecting the enforcement of creditors' rights generally and generally, (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and (iii) public policy considerations underlying applicable securities laws, to the extent that such public policy considerations limit the enforceability of provisions that purport to provide indemnification from liabilities under applicable securities laws, and except that certain provisions in such Mortgage Loan loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth abovein the foregoing clauses (i) and (ii)) such limitations or unenforceability will not render such Mortgage Loan loan documents invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”)thereby. Except as set forth in the immediately preceding sentence, there There is no valid offset, defense, counterclaim or right of offset or rescission available to the related Mortgagor with respect to any of the related such Mortgage NotesNote, Mortgages Mortgage or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, agreements that would deny the Mortgagee mortgagee the principal benefits intended to be provided by thereby, except in each case, with respect to the Mortgage Noteenforceability of any provisions requiring the payment of default interest, Mortgage late fees, additional interest, prepayment premiums or other Mortgage Loan documentsyield maintenance charges.

Appears in 18 contracts

Samples: Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2005-Cki1), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2005-Cki1), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2005-Cip1)

Loan Document Status. Each of the related Mortgage Note, Mortgage(s), Assignment(s) of Leases, if separate from the related Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement agreements executed by or on behalf in favor of the related Mortgagor, guarantor or other obligor lender in connection with such Mortgage Loan therewith is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any the non-recourse provisions contained in any of the foregoing agreements therein and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as that (A) such enforcement may be limited by (i1) bankruptcy, insolvency, fraudulent transferreceivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium or and/or other similar laws affecting the enforcement of creditors' rights generally generally, and (ii2) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law), and (B) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees subject agreement or Prepayment Premium/Yield Maintenance Charge) instrument may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) in the foregoing clause (A), such limitations or unenforceability will not render such Mortgage Loan documents that subject agreement or instrument invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, by the “Standard Qualifications”)subject agreement or instrument. Except as set forth in the immediately preceding sentence, there Such Mortgage Loan is no valid offset, defense, counterclaim or right of rescission available non-recourse to the Mortgagor or any other Person except to the extent provided in certain nonrecourse carveouts and/or in any applicable guarantees. A natural person as individual guarantor has agreed, in effect, to be liable for all liabilities, costs, losses, damages or expenses suffered or incurred by the mortgagee under such Mortgage Loan by reason of or in connection with and to the extent of (A) any material intentional fraud or material intentional misrepresentation by the related Mortgagor with respect to mortgagor; (B) any breach on the part of the related Mortgage Notes, Mortgages or other mortgagor of any environmental representations warranties and covenants contained in the related Mortgage Loan documents; (C) misapplication or misappropriation of rents (received after an event of default), includinginsurance proceeds or condemnation awards; and (D) the filing of a voluntary bankruptcy or insolvency proceeding by the related mortgagor; provided that, without limitationinstead of any breach described in clause (B) of this paragraph, any such valid offsetentity (or individual) may instead be liable for liabilities, defensecosts, counterclaim or right based on intentional fraud by losses, damages, expenses and claims resulting from a breach of the obligations and indemnities of the related mortgagor under the related Mortgage Loan Seller in connection documents relating to hazardous or toxic substances, radon or compliance with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsenvironmental laws.

Appears in 18 contracts

Samples: Mortgage Loan Purchase Agreement (LB-UBS Commercial Mortgage Trust 2005-C1), Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C4), Pooling and Servicing Agreement (LB Commercial Mortgage Trust 2007-C3)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the any Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 16 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2024-V12 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2024-V9 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2024-V6 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller the Sponsor in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 15 contracts

Samples: Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2015-Gc30), Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2015-Gc30), Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2015-Gc30)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 15 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2023-B40 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2021-B28 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2021-B24 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby law (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by the Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 14 contracts

Samples: Mortgage Loan Purchase Agreement (DBJPM 2020-C9 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2020-B18 Mortgage Trust), Mortgage Loan Purchase Agreement

Loan Document Status. Each of the related Mortgage Note, Mortgage(s), Assignment(s) of Leases, if separate from the related Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement agreements executed by or on behalf in favor of the related Mortgagor, guarantor or other obligor lender in connection with such Mortgage Loan therewith is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any the non-recourse provisions contained in any of the foregoing agreements therein and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as that (A) such enforcement may be limited by (i1) bankruptcy, insolvency, fraudulent transferreceivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium or and/or other similar laws affecting the enforcement of creditors' rights generally generally, and (ii2) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law), and (B) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees subject agreement or Prepayment Premium/Yield Maintenance Charge) instrument may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) in the foregoing clause (A), such limitations or unenforceability will not render such Mortgage Loan documents that subject agreement or instrument invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectivelyby the subject agreement or instrument. Such Mortgage Loan is non-recourse to the Mortgagor or any other Person except to the extent provided in certain nonrecourse carveouts and/or in any applicable guarantees. If such Mortgage Loan has a Cut-off Date Balance of $15 million or more, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor or another Person has agreed, in effect, to be liable for all liabilities, costs, losses, damages or expenses suffered or incurred by the mortgagee under such Mortgage Loan by reason of or in connection with respect and to the extent of (A) any material intentional fraud or material intentional misrepresentation by the related mortgagor; (B) any breach on the part of the related Mortgage Notes, Mortgages or other mortgagor of any environmental representations warranties and covenants contained in the related Mortgage Loan documents; and (C) the filing of a voluntary bankruptcy or insolvency proceeding by the related mortgagor; provided that, includinginstead of any breach described in clause (B) of this paragraph, without limitationthe related Mortgagor or such other Person may instead be liable for liabilities, any such valid offsetcosts, defenselosses, counterclaim or right based on intentional fraud by damages, expenses and claims resulting from a breach of the obligations and indemnities of the related Mortgagor under the related Mortgage Loan Seller in connection documents relating to hazardous or toxic substances, radon or compliance with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsenvironmental laws.

Appears in 13 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C8), Mortgage Loan Purchase Agreement (LB-UBS Commercial Mortgage Trust 2004-C8), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C8)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment assignment of Leases leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the any Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 12 contracts

Samples: Mortgage Loan Purchase Agreement (BMO 2024-5c8 Mortgage Trust), Mortgage Loan Purchase Agreement (BMO 2024-C10 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2024-V10 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 12 contracts

Samples: Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2012-C7), Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2012-C7), Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2012-C7)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge)) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 11 contracts

Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C61), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C61), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C61)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 11 contracts

Samples: Mortgage Loan Purchase Agreement (CF 2019-Cf3 Mortgage Trust), Mortgage Loan Purchase Agreement (CF 2019-Cf3 Mortgage Trust), Mortgage Loan Purchase Agreement (CF 2019-Cf3 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one-action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (a) as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (b) that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (a) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (ia) and (iib) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsPurchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage LoanPurchased Asset, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsPurchased Asset Documents.

Appears in 11 contracts

Samples: Tenth Omnibus Amendment to Transaction Documents (BrightSpire Capital, Inc.), Master Repurchase and Securities Contract Agreement (FS Credit Real Estate Income Trust, Inc.), Master Repurchase and Securities Contract Agreement (ACRES Commercial Realty Corp.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law), but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 9 contracts

Samples: Mortgage Loan Purchase Agreement (CSAIL 2019-C17 Commercial Mortgage Trust), Mortgage Loan Purchase Agreement (CSAIL 2019-C16 Commercial Mortgage Trust), Mortgage Loan Purchase Agreement (CSAIL 2019-C16 Commercial Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by the Mortgage Loan Seller in connection with the origination of the any Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 8 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2024-V11 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2024-V8 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2024-V5 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 8 contracts

Samples: Mortgage Loan Purchase Agreement (Credit Suisse Commercial Mortgage Securities Corp.), Mortgage Loan Purchase Agreement (Credit Suisse Commercial Mortgage Securities Corp.), Mortgage Loan Purchase Agreement (CSAIL 2016-C5 Commercial Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby law (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 8 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2023-V4 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2023-V3 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2023-B39 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment premium/Yield Maintenance Chargeyield maintenance charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 8 contracts

Samples: Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C18), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C18), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C18)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 7 contracts

Samples: Loan Obligation Purchase Agreement (Arbor Realty Trust Inc), Loan Obligation Purchase Agreement (Arbor Realty Trust Inc), Loan Obligation Purchase Agreement (Arbor Realty Trust Inc)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty Mortgage and each other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection Mortgagor with such respect to each Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or one form of action law or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium receivership, fraudulent transfer and conveyance or other similar laws affecting the enforcement of creditors' rights generally and generally, (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and (iii) public policy considerations underlying applicable securities laws, to the extent that such public policy considerations limit the enforceability of provisions that purport to provide indemnification from liabilities under applicable securities laws, and except that certain provisions in such Mortgage Loan loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth abovein the foregoing clauses (i), (ii) and (iii)) such limitations or unenforceability will not render such Mortgage Loan loan documents invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”)thereby. Except as set forth in the immediately preceding sentence, there There is no valid offset, defense, counterclaim or right of offset or rescission available to the related Mortgagor with respect to any of the related such Mortgage NotesNote, Mortgages Mortgage or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, agreements that would deny the Mortgagee mortgagee the principal benefits intended to be provided by thereby, except in each case, with respect to the Mortgage Noteenforceability of any provisions requiring the payment of default interest, Mortgage late fees, additional interest, prepayment premiums or other Mortgage Loan documentsyield maintenance charges.

Appears in 6 contracts

Samples: Mortgage Loan Purchase Agreement (MLMT 2008-C1), Mortgage Loan Purchase Agreement (MLMT 2008-C1), Mortgage Loan Purchase Agreement (MLMT 2008-C1)

Loan Document Status. Each related Mortgage Mezzanine Note, Mortgage, Assignment of Leases (if a separate instrument)Mezzanine Pledge Agreement, guaranty and other agreement executed by or on behalf of the related MortgagorMezzanine Borrower, guarantor or other obligor in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related MortgagorMezzanine Borrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one-action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (a) as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (b) that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (a) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageelender’s realization of the principal benefits and/or security provided thereby (clauses (ia) and (iib) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Mezzanine Borrower with respect to any of the related Mortgage Notes, Mortgages Mezzanine Notes or other Mortgage Loan documentsPurchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage LoanPurchased Asset, that would deny the Mortgagee lender the principal benefits intended to be provided by the Mortgage Mezzanine Note, Mortgage or other Mortgage Loan documentsPurchased Asset Documents.

Appears in 6 contracts

Samples: Tenth Omnibus Amendment to Transaction Documents (BrightSpire Capital, Inc.), Master Repurchase and Securities Contract Agreement (FS Credit Real Estate Income Trust, Inc.), Master Repurchase and Securities Contract Agreement (ACRES Commercial Realty Corp.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby thereby) (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 6 contracts

Samples: Mortgage Loan Purchase Agreement (3650R 2022-Pf2 Commercial Mortgage Trust), Mortgage Loan Purchase Agreement (3650R 2022-Pf2 Commercial Mortgage Trust), Mortgage Loan Purchase Agreement (3650R 2022-Pf2 Commercial Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment premium/Yield Maintenance Chargeyield maintenance charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 6 contracts

Samples: Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2019-C3), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2019-C3), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2019-C3)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagorborrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagorborrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 6 contracts

Samples: Indenture (Arbor Realty Trust Inc), Indenture (Arbor Realty Trust Inc), Indenture (Arbor Realty Trust Inc)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 5 contracts

Samples: Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2014-C24), Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2014-C24), Mortgage Loan Purchase Agreement (WFRBS Commercial Mortgage Trust 2014-C24)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby thereby) (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 5 contracts

Samples: Mortgage Loan Purchase Agreement (CSAIL 2019-C18 Commercial Mortgage Trust), Mortgage Loan Purchase Agreement (CSAIL 2019-C18 Commercial Mortgage Trust), Mortgage Loan Purchase Agreement (CSAIL 2019-C18 Commercial Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty Mortgage and each other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection Mortgagor with such respect to each Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or one form of action law or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium receivership, fraudulent transfer and conveyance or other similar laws affecting the enforcement of creditors' rights generally and generally, (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and (iii) public policy considerations underlying applicable securities laws, to the extent that such public policy considerations limit the enforceability of provisions that purport to provide indemnification from liabilities under applicable securities laws, and except that certain provisions in such Mortgage Loan loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth abovein the foregoing clauses (i) and (ii)) such limitations or unenforceability will not render such Mortgage Loan loan documents invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”)thereby. Except as set forth in the immediately preceding sentence, there There is no valid offset, defense, counterclaim or right of offset or rescission available to the related Mortgagor with respect to any of the related such Mortgage NotesNote, Mortgages Mortgage or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, agreements that would deny the Mortgagee mortgagee the principal benefits intended to be provided by thereby, except in each case, with respect to the Mortgage Noteenforceability of any provisions requiring the payment of default interest, Mortgage late fees, additional interest, prepayment premiums or other Mortgage Loan documentsyield maintenance charges.

Appears in 5 contracts

Samples: Mortgage Loan Purchase Agreement (ML-CFC Commercial Mortgage Trust 2007-9), Mortgage Loan Purchase Agreement (ML-CFC Commercial Mortgage Trust 2007-9), Mortgage Loan Purchase Agreement (ML-CFC Commercial Mortgage Trust 2007-9)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment premium/Yield Maintenance Chargeyield maintenance charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby thereby) (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 5 contracts

Samples: Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2020-C7), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2020-C7), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2020-C7)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge)) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 4 contracts

Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C61), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C60), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C60)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 4 contracts

Samples: Mortgage Loan Purchase Agreement (Citigroup Commercial Mortgage Trust 2018-C6), Mortgage Loan Purchase Agreement (Citigroup Commercial Mortgage Trust 2018-C6), Mortgage Loan Purchase Agreement (Citigroup Commercial Mortgage Trust 2018-C6)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment premium/Yield Maintenance Chargeyield maintenance charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 4 contracts

Samples: Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2018-C2), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2018-C2), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2018-C2)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby law (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by the Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 4 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2023-B38 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2022-B34 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2021-B26 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by Exh. C-1 (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 3 contracts

Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C59), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2021-C59), Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Securities Inc)

Loan Document Status. Each of the related Mortgage Note, Mortgage(s), Assignment(s) of Leases, if separate from the related Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement agreements executed by or on behalf in favor of the related Mortgagor, guarantor or other obligor lender in connection with such Mortgage Loan therewith is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any the non-recourse provisions contained in any of the foregoing agreements therein and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as that (A) such enforcement may be limited by (i1) bankruptcy, insolvency, fraudulent transferreceivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium or and/or other similar laws affecting the enforcement of creditors' rights generally generally, and (ii2) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law), and (B) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees subject agreement or Prepayment Premium/Yield Maintenance Charge) instrument may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) in the foregoing clause (A), such limitations or unenforceability will not render such Mortgage Loan documents that subject agreement or instrument invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby by the subject agreement or instrument. Such Mortgage Loan is non-recourse to the Mortgagor or any other Person except to the extent provided in certain nonrecourse carveouts and/or in any applicable guarantees. A natural person as individual guarantor has agreed, in effect, to be liable for all liabilities, costs, losses, damages or expenses suffered or incurred by the mortgagee under such Mortgage Loan by reason of or in connection with and to the extent of (clauses A) any material intentional fraud or material intentional misrepresentation by the related mortgagor; (iB) and (ii) collectively, any breach on the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right part of rescission available to the related Mortgagor with respect to of any environmental representations warranties and covenants contained in the related Mortgage Loan documents; (C) misapplication or misappropriation of rents (received after an event of default), insurance proceeds or condemnation awards; and (D) the filing of a voluntary bankruptcy or insolvency proceeding by the related Mortgagor; provided that, instead of any breach described in clause (B) of this paragraph, such entity (or individual) may instead be liable for liabilities, costs, losses, damages, expenses and claims resulting from a breach of the obligations and indemnities of the related Mortgage Notes, Mortgages or other Mortgagor under the related Mortgage Loan documentsdocuments relating to hazardous or toxic substances, including, without limitation, any such valid offset, defense, counterclaim radon or right based on intentional fraud by Mortgage Loan Seller in connection compliance with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsenvironmental laws.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C7), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2006-C7), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2006-C7)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one action, or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsAsset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsAsset Documents.

Appears in 3 contracts

Samples: Collateral Interest Purchase Agreement (TPG RE Finance Trust, Inc.), Mortgage Asset Purchase Agreement (TPG RE Finance Trust, Inc.), Mortgage Asset Purchase Agreement (TPG RE Finance Trust, Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 3 contracts

Samples: Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2012-Gc6), Mortgage Loan Purchase Agreement (Barclays Commercial Mortgage Securities LLC), Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2012-Gc6)

Loan Document Status. Each related The Mortgage Note, Mortgage, the Assignment of Leases (if a separate instrument), guaranty and other agreement agreements executed by or on behalf of the related MortgagorUnderlying Borrower, guarantor or other obligor in connection with such Mortgage the Underlying Loan is the legal, valid and binding obligation of the related MortgagorUnderlying Borrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage the Underlying Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage the Underlying Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, sentences there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Underlying Borrower with respect to any of the related Mortgage NotesNote, Mortgages Mortgage or other Mortgage Underlying Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller Borrower, or to Borrower’s Knowledge, Underlying Lender in connection with the origination of the Mortgage Underlying Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Underlying Loan documentsDocuments.

Appears in 3 contracts

Samples: Loan and Security Agreement (TPG RE Finance Trust, Inc.), Loan and Security Agreement (TPG RE Finance Trust, Inc.), Loan and Security Agreement (TPG RE Finance Trust, Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity equity) or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 3 contracts

Samples: Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C15), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C15), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C15)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and each other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection Mortgagor with such respect to each Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium receivership, fraudulent transfer and conveyance or other similar laws affecting the enforcement of creditors' rights generally and generally, (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and (iii) public policy considerations underlying the securities laws, to the extent that such public policy considerations limit the enforceability of provisions that purport to provide indemnification from liabilities under applicable securities laws, and except that certain provisions in such Mortgage Loan loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth abovein the foregoing clauses (i) and (ii)) such limitations or unenforceability will not render such Mortgage Loan loan documents invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”)thereby. Except as set forth in the immediately preceding sentence, there There is no valid offset, defense, counterclaim or right of offset or rescission available to the related Mortgagor with respect to any of the related such Mortgage NotesNote, Mortgages Mortgage or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, agreements that would deny the Mortgagee mortgagee the principal benefits intended to be provided by thereby, except in each case, with respect to the Mortgage Noteenforceability of any provisions requiring the payment of default interest, Mortgage late fees, additional interest, prepayment premiums or other Mortgage Loan documentsyield maintenance charges.

Appears in 3 contracts

Samples: Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2004-Bpc1), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2004-Bpc1), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2004-Bpc1)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment premium/Yield Maintenance Chargeyield maintenance charge)) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 3 contracts

Samples: Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2021-Gsa3), Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2020-Gsa2), Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2019-Gsa1)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity Exh. C-32-1-1 (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement, Mortgage Loan Purchase Agreement

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases and Rents (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby law (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2020-B21 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2021-B25 Mortgage Trust)

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Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagorborrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagorborrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 2 contracts

Samples: Mortgage Asset Purchase Agreement (Arbor Realty Trust Inc), Loan Obligation Purchase Agreement (Arbor Realty Trust Inc)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity equity) or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Exh. C-1 Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C15), Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2022-C15)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one action, or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsAsset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsAsset Documents.

Appears in 2 contracts

Samples: Collateral Interest Purchase Agreement (TPG RE Finance Trust, Inc.), Collateral Interest Purchase Agreement (TPG RE Finance Trust, Inc.)

Loan Document Status. Each of the related Mortgage Note, Mortgage(s), Assignment(s) of Leases, if separate from the related Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement agreements executed by or on behalf in favor of the related Mortgagor, guarantor or other obligor lender in connection with such Mortgage Loan therewith is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any the non-recourse provisions contained in any of the foregoing agreements therein and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as that (A) such enforcement may be limited by (i1) bankruptcy, insolvency, fraudulent transferreceivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium or and/or other similar laws affecting the enforcement of creditors' rights generally generally, and (ii2) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law), and (B) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees subject agreement or Prepayment Premium/Yield Maintenance Charge) instrument may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) in the foregoing clause (A), such limitations or unenforceability will not render such Mortgage Loan documents that subject agreement or instrument invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby by the subject agreement or instrument. Such Mortgage Loan is non-recourse to the Mortgagor or any other Person except to the extent provided in certain nonrecourse carveouts and/or in any applicable guarantees. A natural person as individual guarantor has agreed, in effect, to be jointly and severally liable with the related Mortgagor, for all liabilities, costs, losses, damages or expenses suffered or incurred by the mortgagee under such Mortgage Loan by reason of or in connection with and to the extent of (clauses A) any intentional fraud or material intentional misrepresentation by the related Mortgagor; (iB) and (ii) collectively, any breach on the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right part of rescission available to the related Mortgagor with respect to of any of environmental representations warranties, covenants or indemnity contained in the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including(C) misapplication or misappropriation of rents (received after an event of default), without limitationinsurance proceeds or condemnation awards; and (D) the filing of a voluntary bankruptcy or insolvency proceeding by the related Mortgagor; provided that, in the case of any breach described in clause (B) of this paragraph, such valid offsetentity (or individual) may instead cover through environmental insurance liabilities, defensecosts, counterclaim or right based on intentional fraud by losses, damages, expenses and claims resulting from a breach of the obligations and indemnities of the related Mortgagor under the related Mortgage Loan Seller in connection documents relating to hazardous or toxic substances, radon or compliance with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsenvironmental laws.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (Structured Asset Sec Corp Lb-Ubs Comm Mort Trust 2004-C2), Mortgage Loan Purchase Agreement (Structured Asset Sec Corp Ii Lb Ubs Comm Mort Tr 2004 C1)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsoperative Purchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsoperative Purchased Asset Documents.

Appears in 2 contracts

Samples: Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (Claros Mortgage Trust, Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 2 contracts

Samples: Flow Commercial Mortgage Loan Purchase Agreement (Pennymac Financial Services, Inc.), Flow Commercial Mortgage Loan Purchase Agreement (PennyMac Mortgage Investment Trust)

Loan Document Status. Each related Mortgage Promissory Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagorsuch Borrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Promissory Notes, Mortgages or other Mortgage Loan documentsoperative Purchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the such Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Promissory Note, Mortgage or other Mortgage Loan documentsoperative Purchased Asset Documents.

Appears in 2 contracts

Samples: Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (Claros Mortgage Trust, Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Purchased Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Purchased Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Purchased Loan documents Documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Purchased Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Purchased Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Purchased Loan documentsDocuments.

Appears in 2 contracts

Samples: Master Repurchase Agreement (Blackstone Mortgage Trust, Inc.), Master Repurchase Agreement (Blackstone Mortgage Trust, Inc.)

Loan Document Status. Each of the related Mortgage Note, Mortgage(s), Assignment(s) of Leases, if separate from the related Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement agreements executed by or on behalf in favor of the related Mortgagor, guarantor or other obligor lender in connection with such Mortgage Loan therewith is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any the non-recourse provisions contained in any of the foregoing agreements therein and any applicable state anti-deficiency or market value limit anti- deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as that (A) such enforcement may be limited by (i1) bankruptcy, insolvency, fraudulent transferreceivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium or and/or other similar laws affecting the enforcement of creditors' rights generally generally, and (ii2) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law), and (B) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees subject agreement or Prepayment Premium/Yield Maintenance Charge) instrument may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) in the foregoing clause (A), such limitations or unenforceability will not render such Mortgage Loan documents that subject agreement or instrument invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectivelyby the subject agreement or instrument. Such Mortgage Loan is non-recourse to the Mortgagor or any other Person except to the extent provided in certain nonrecourse carveouts and/or in any applicable guarantees. If such Mortgage Loan has a Cut-off Date Balance of $15 million or more, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor or another Person has agreed, in effect, to be liable for all liabilities, costs, losses, damages or expenses suffered or incurred by the mortgagee under such Mortgage Loan by reason of or in connection with respect and to the extent of (A) any material intentional fraud or material intentional misrepresentation by the related mortgagor; (B) any breach on the part of the related Mortgage Notes, Mortgages or other mortgagor of any environmental representations warranties and covenants contained in the related Mortgage Loan documents; and (C) the filing of a voluntary bankruptcy or insolvency proceeding by the related mortgagor; provided that, includinginstead of any breach described in clause (B) of this paragraph, without limitationthe related Mortgagor or such other Person may instead be liable for liabilities, any such valid offsetcosts, defenselosses, counterclaim or right based on intentional fraud by damages, expenses and claims resulting from a breach of the obligations and indemnities of the related Mortgagor under the related Mortgage Loan Seller in connection documents relating to hazardous or toxic substances, radon or compliance with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsenvironmental laws.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (LB-UBS Commercial Mortgage Trust 2005-C2), Mortgage Loan Purchase Agreement (LB-UBS Commercial Mortgage Trust 2005-C3)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by the Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (DBGS 2018-C1 Mortgage Trust), Mortgage Loan Purchase Agreement (DBGS 2018-C1 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such each Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the any Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2021-Gsa3), Mortgage Loan Purchase Agreement (GS Mortgage Securities Trust 2021-Gsa3)

Loan Document Status. Each of the related Mortgage Note, Mortgage(s), Assignment(s) of Leases, if separate from the related Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement agreements executed by or on behalf in favor of the related Mortgagor, guarantor or other obligor lender in connection with such Mortgage Loan therewith is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any the non-recourse provisions contained in any of the foregoing agreements therein and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as that (A) such enforcement may be limited by (i1) bankruptcy, insolvency, fraudulent transferreceivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium or and/or other similar laws affecting the enforcement of creditors' rights generally generally, and (ii2) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law), and (B) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees subject agreement or Prepayment Premium/Yield Maintenance Charge) instrument may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) in the foregoing clause (A), such limitations or unenforceability will not render such Mortgage Loan documents that subject agreement or instrument invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectivelyby the subject agreement or instrument. Such Mortgage Loan is non-recourse to the Mortgagor or any other Person except to the extent provided in certain nonrecourse carveouts and/or in any applicable guarantees. If such Mortgage Loan has a Cut-off Date Balance of $15 million or more, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor or another Person has agreed, in effect, to be liable for all liabilities, costs, losses, damages, expenses or claims suffered or incurred by the mortgagee under such Mortgage Loan by reason of or in connection with respect and to the extent of (A) any material intentional fraud or material intentional misrepresentation by the related Mortgagor and (B) any breach on the part of the related Mortgage NotesMortgagor of any environmental representations, Mortgages or other warranties and covenants contained in the related Mortgage Loan documents; provided that, includinginstead of any breach described in clause (B) of this sentence, without limitationthe related Mortgagor or such other Person may instead be responsible for liabilities, any such valid offsetcosts, defenselosses, counterclaim or right based on intentional fraud by damages, expenses and claims resulting from a breach of the obligations and indemnities of the related Mortgagor under the related Mortgage Loan Seller in connection documents relating to hazardous or toxic substances, radon or compliance with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsenvironmental laws.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (Structured Asset Sec Corp Lb Ubs Com Mort Tr 2003-C8), Mortgage Loan Purchase Agreement (Commercial Mortgage Pass-Through Certificates Series 2003-C5)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state antianti- deficiency, one-deficiency action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (a) as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (b) that certain provisions in such Mortgage Loan documents Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (a) above) such limitations or unenforceability will not render such Mortgage Loan documents Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (ia) and (iib) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsAsset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller Issuer in connection with the origination of the Mortgage LoanAsset, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsAsset Documents.

Appears in 2 contracts

Samples: Indenture and Credit Agreement (Terra Secured Income Fund 5, LLC), Indenture and Credit Agreement (Terra Property Trust, Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such GSMC Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the GSMC Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (JPMDB Commercial Mortgage Securities Trust 2020-Cor7), Mortgage Loan Purchase Agreement (Benchmark 2018-B8 Mortgage Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one-action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (a) as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (b) that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (a) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (ia) and (iib) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, to Seller’s knowledge, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsPurchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage LoanPurchased Asset, in each case, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsPurchased Asset Documents.

Appears in 2 contracts

Samples: Master Repurchase Agreement (KKR Real Estate Finance Trust Inc.), Master Repurchase Agreement (KKR Real Estate Finance Trust Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws Exh. C-1 affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2020-C58), Mortgage Loan Purchase Agreement (Bank 2020-Bnk25)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Purchased Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that (ii) those certain provisions in such Mortgage Purchased Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Purchased Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Purchased Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Purchased Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Purchased Loan documentsDocuments.

Appears in 2 contracts

Samples: Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (Claros Mortgage Trust, Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-non- recourse provisions contained in any of the foregoing agreements and any applicable state antianti- deficiency, one-deficiency action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (a) as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (b) that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (a) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (ia) and (iib) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsPurchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage LoanPurchased Asset, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsPurchased Asset Documents.

Appears in 2 contracts

Samples: Master Repurchase and Securities Contract Agreement (Claros Mortgage Trust, Inc.), Master Repurchase and Securities Contract Agreement (Claros Mortgage Trust, Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (Benchmark 2021-B25 Mortgage Trust), Mortgage Loan Purchase Agreement (Benchmark 2020-B21 Mortgage Trust)

Loan Document Status. Each of the related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrumentMortgage(s), guaranty Assignment(s) of Leases, if any, and other agreement agreements executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan therewith is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any the non-recourse provisions contained in any of the foregoing agreements therein and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as that (A) such enforcement may be limited by (i1) bankruptcy, insolvency, fraudulent transferreceivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium or and/or other similar laws affecting the enforcement of creditors' rights generally generally, and (ii2) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law), and (B) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees subject agreement or Prepayment Premium/Yield Maintenance Charge) instrument may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth abovein the foregoing clause (A)) such limitations or unenforceability will not render such Mortgage Loan documents that subject agreement or instrument invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) by the subject agreement or instrument. The Mortgage Loan is non-recourse to the Mortgagor or any other Person except for certain nonrecourse carveouts and (ii) collectivelyany applicable guarantees. If such Mortgage Loan has a Cut-off Date Balance of $15 million or more, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor or another Person has agreed to be liable for all liabilities, costs, losses, damages, expenses or claims suffered or incurred by the mortgagee under such Mortgage Loan by reason of or in connection with respect and to the extent of (A) any material intentional fraud or, alternatively, material intentional misrepresentation by the related Mortgagor and (B) any breach on the part of the related Mortgage NotesMortgagor of any environmental representations, Mortgages or other warranties and covenants contained in the related Mortgage Loan documents; provided that instead of any breach described in clause (B) of this sentence, includingthe related Mortgagor or such other Person may instead be responsible for liabilities, without limitationcosts, any such valid offsetlosses, defensedamages, counterclaim or right based on intentional fraud by expenses and claims resulting from a breach of the obligations and indemnities of the related Mortgagor under the related Mortgage Loan Seller in connection documents relating to hazardous or toxic substances, radon or compliance with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsenvironmental laws.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Securities Corp), Mortgage Loan Purchase Agreement (Structured Asset Securities Corp)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one-action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (a) as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (b) that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (a) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (ia) and (iib) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, to Seller’s Knowledge, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsPurchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage LoanPurchased Asset, in each case, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsPurchased Asset Documents.

Appears in 1 contract

Samples: Master Repurchase and Securities Contract Agreement (TPG RE Finance Trust, Inc.)

Loan Document Status. Each of the related Mortgage Note, Mortgage(s), Assignment(s) of Leases, if separate from the related Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement agreements executed by or on behalf in favor of the related Mortgagor, guarantor or other obligor lender in connection with such Mortgage Loan therewith is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any the non-recourse provisions contained in any of the foregoing agreements therein and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as that (A) such enforcement may be limited by (i1) bankruptcy, insolvency, fraudulent transferreceivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium or and/or other similar laws affecting the enforcement of creditors' rights generally generally, and (ii2) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law), and (B) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees subject agreement or Prepayment Premium/Yield Maintenance Charge) instrument may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) in the foregoing clause (A), such limitations or unenforceability will not render such Mortgage Loan documents that subject agreement or instrument invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectivelyby the subject agreement or instrument. Such Mortgage Loan is non-recourse to the Mortgagor or any other Person except to the extent provided in certain nonrecourse carveouts and/or in any applicable guarantees. If such Mortgage Loan has a Cut-off Date Balance of $15 million or more, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor or another Person has agreed, in effect, to be liable for all liabilities, costs, losses, damages or expenses suffered or incurred by the mortgagee under such Mortgage Loan by reason of or in connection with respect and to the extent of (A) any material intentional fraud or material intentional misrepresentation by the related Mortgagor; (B) any breach on the part of the related Mortgage Notes, Mortgages or other Mortgagor of any environmental representations warranties and covenants contained in the related Mortgage Loan documents; and (C) the filing of a voluntary bankruptcy or insolvency proceeding by the related mortgagor; provided that, includinginstead of any breach described in clause (B) of this paragraph, without limitationthe related Mortgagor or such other Person may instead be liable for liabilities, any such valid offsetcosts, defenselosses, counterclaim or right based on intentional fraud by damages, expenses and claims resulting from a breach of the obligations and indemnities of the related Mortgagor under the related Mortgage Loan Seller in connection documents relating to hazardous or toxic substances, radon or compliance with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsenvironmental laws.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Structured Asset Sec Corp Ii Lb-Ubs Comm Mort Trust 2004-C4)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 1 contract

Samples: Commercial Mortgage Loan Purchase Agreement (PennyMac Mortgage Investment Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents Documents invalid as a whole or materially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard "Insolvency Qualifications"). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Credit Suisse Commercial Mortgage Securities Corp.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, Obligor or guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, Obligor or guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Obligor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 1 contract

Samples: Master Repurchase Agreement (Angel Oak Mortgage, Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one-action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (a) as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (b) that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (a) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (ia) and (iib) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, to Seller’s Knowledge there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsPurchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage LoanPurchased Asset, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsPurchased Asset Documents.

Appears in 1 contract

Samples: Uncommitted Master Repurchase and Securities Contract Agreement (FS Credit Real Estate Income Trust, Inc.)

Loan Document Status. Each related Mortgage Promissory Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty ) and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor Borrower in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor such Borrower (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) anti-deficiency laws, bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Promissory Notes, Mortgages or other Mortgage Loan documentsoperative Purchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Promissory Note, Mortgage or other Mortgage Loan documentsoperative Purchased Asset Documents.

Appears in 1 contract

Samples: Master Repurchase Agreement (Colony NorthStar Credit Real Estate, Inc.)

Loan Document Status. Each related Mortgage Promissory Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagorsuch Borrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Promissory Notes, Mortgages or other Mortgage Loan documentsPurchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the such Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Promissory Note, Mortgage or other Mortgage Loan documentsPurchased Asset Documents.

Appears in 1 contract

Samples: Master Repurchase Agreement (Starwood Property Trust, Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty ) and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor Mortgagor in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor Mortgagor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) anti-deficiency laws, bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsoperative Purchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsoperative Purchased Asset Documents.

Appears in 1 contract

Samples: Master Repurchase Agreement (Colony Credit Real Estate, Inc.)

Loan Document Status. Each of the related Mortgage Note, Mortgage(s), Assignment(s) of Leases, if separate from the related Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement agreements executed by or on behalf in favor of the related Mortgagor, guarantor or other obligor lender in connection with such Mortgage Loan therewith is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor maker thereof (subject to any the non-recourse provisions contained in any of the foregoing agreements therein and any applicable state anti-deficiency or market value limit anti- deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as that (A) such enforcement may be limited by (i1) bankruptcy, insolvency, fraudulent transferreceivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium or and/or other similar laws affecting the enforcement of creditors' rights generally generally, and (ii2) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law), and (B) and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees subject agreement or Prepayment Premium/Yield Maintenance Charge) instrument may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) in the foregoing clause (A), such limitations or unenforceability will not render such Mortgage Loan documents that subject agreement or instrument invalid as a whole or materially substantially interfere with the Mortgagee’s mortgagee's realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectivelyby the subject agreement or instrument. Such Mortgage Loan is non-recourse to the Mortgagor or any other Person except to the extent provided in certain nonrecourse carveouts and/or in any applicable guarantees. If such Mortgage Loan has a Cut-off Date Balance of $15 million or more, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor or another Person has agreed, in effect, to be liable for all liabilities, costs, losses, damages, expenses or claims suffered or incurred by the mortgagee under such Mortgage Loan by reason of or in connection with respect and to the extent of (A) any material intentional fraud or material intentional misrepresentation by the related Mortgagor and (B) any breach on the part of the related Mortgage NotesMortgagor of any environmental representations, Mortgages or other warranties and covenants contained in the related Mortgage Loan documents; provided that, includinginstead of any breach described in clause (B) of this sentence, without limitationthe related Mortgagor or such other Person may instead be responsible for liabilities, any such valid offsetcosts, defenselosses, counterclaim or right based on intentional fraud by damages, expenses and claims resulting from a breach of the obligations and indemnities of the related Mortgagor under the related Mortgage Loan Seller in connection documents relating to hazardous or toxic substances, radon or compliance with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsenvironmental laws.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Lb Ubs Com Mort Tr 2003-C8)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty ) and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor Mortgagor in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor Mortgagor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) may be further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsoperative Purchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsoperative Purchased Asset Documents.

Appears in 1 contract

Samples: Master Repurchase Agreement (RAIT Financial Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement Loan Document executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge) Document may be further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents Document invalid as a whole or materially interfere with the Mortgageelender’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the Mortgage Loan Documents executed by or on behalf of the related Mortgage NotesMortgagor, Mortgages guarantor or other obligor in connection with such Mortgage Loan documentsLoan, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee lender the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsDocuments.

Appears in 1 contract

Samples: Master Repurchase Agreement (Sutherland Asset Management Corp)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan the Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan Purchased Asset is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one-action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (a) as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (b) that certain provisions in such Mortgage Loan documents Purchased Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause ‎(a) above) such limitations or unenforceability will not render such Mortgage Loan documents Purchased Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i‎(a) and (ii‎(b) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsPurchased Asset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage LoanPurchased Asset, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsPurchased Asset Documents.

Appears in 1 contract

Samples: Master Repurchase and Securities Contract Agreement (LoanCore Realty Trust, Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Purchased Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one-action or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (a) as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (b) that certain provisions in such Mortgage Purchased Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance or prepayment fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (a) above) such limitations or unenforceability will not render such Mortgage Purchased Loan documents Documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (ia) and (iib) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Purchased Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Purchased Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Purchased Loan documentsDocuments.

Appears in 1 contract

Samples: Master Repurchase Agreement (KKR Real Estate Finance Trust Inc.)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases Leases, Rents and Profits (if a separate instrument), guaranty and other agreement executed by or on behalf of the related MortgagorBorrower, guarantor or other obligor in connection with such each Mortgage Loan is the legal, valid and binding obligation of the related MortgagorBorrower, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (a) as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at lawlaw and (b) and except that certain provisions in such Mortgage Loan documents Asset Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance premiums) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents Asset Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Insolvency Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor Borrower with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documentsAsset Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documentsAsset Documents.

Appears in 1 contract

Samples: Mortgage Asset Purchase Agreement (Ares Commercial Real Estate Corp)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor Mortgagor in connection with such Mortgage Purchased Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor Mortgagor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency deficiency, one action, or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement may be limited by (ia) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (iib) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and except (ii) that certain provisions in such Mortgage Purchased Loan documents Documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment/Yield Maintenance Chargeyield maintenance fees, charges and/or premiums) are, or may be be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above) such limitations or unenforceability will not render such Mortgage Purchased Loan documents Documents invalid as a whole or materially interfere with the Mortgageemortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentencesentences, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Purchased Loan documentsDocuments, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Purchased Loan, that would deny the Mortgagee mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Purchased Loan documentsDocuments.

Appears in 1 contract

Samples: Master Repurchase Agreement (RAIT Financial Trust)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by Exh. C-1-1 (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premium/Yield Maintenance Charge)) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Wells Fargo Commercial Mortgage Trust 2020-C57)

Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as such enforcement may be limited by (i) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) law and except that certain provisions in such Mortgage Loan documents (including, without limitation, provisions requiring the payment of default interest, late fees or Prepayment Premiumprepayment premium/Yield Maintenance Chargeyield maintenance charge) may be further limited or rendered unenforceable by applicable law, but (subject to the limitations set forth above) such limitations or unenforceability will not render such Mortgage Loan documents invalid as a whole or materially interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii) collectively, the “Standard Qualifications”). Except as set forth in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan documents.. Exh. C-1

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (BBCMS Mortgage Trust 2020-C8)

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