No Failure to Cure Default. The Seller has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;
No Failure to Cure Default. NC Capital has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;
No Failure to Cure Default. With respect to each Second Lien Mortgage Loan, WMC Mortgage Corp. has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;
No Failure to Cure Default. Aames has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;
No Failure to Cure Default. As of the WMC Servicing Transfer Date, WMC has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;
No Failure to Cure Default. The Responsible Party has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;
No Failure to Cure Default. As of the Original Purchase Date and, to the best of the Responsible Party's knowledge, as of the Closing Date, the Responsible Party has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;
No Failure to Cure Default. As of the Servicing Transfer Date and except with respect to the Mortgage Loans identified on Schedule III-B, with respect to each Second Lien Mortgage Loan, the Responsible Party has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;
No Failure to Cure Default. Aames has not received a written notice of default of any senior mortgaxx xxan related to the Mortgaged Property which has not been cured;
No Failure to Cure Default. The Seller has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured. SCHEDULE VII Representations and Warranties of LaSalle ----------------------------------------- LaSalle hereby makes the representations and warranties set forth in this Schedule VII to the Depositor, the Servicer, the Trustee and the Responsible Parties as of the Closing Date.
(a) LaSalle is duly organized and is validly existing and in good standing under the laws of its jurisdiction of incorporation and is duly authorized and qualified to transact any and all business contemplated by this Agreement to be conducted by such Custodian in any state in which a Mortgaged Property is located or is otherwise not required under applicable law to effect such qualification and, in any event, is in compliance with the doing business laws of any such state, to the extent necessary to perform any of its obligations under this Agreement in accordance with the terms thereof.
(b) LaSalle has the full power and authority to execute, deliver and perform, and to enter into and consummate the transactions contemplated by this Agreement and has duly authorized by all necessary action on the part of such Custodian the execution, delivery and performance of this Agreement; and this Agreement, assuming the due authorization, execution and delivery thereof by the other parties thereto, constitutes a legal, valid and binding obligation of such Custodian, enforceable against such Custodian in accordance with its terms, except that (i) the enforceability thereof may be limited by bankruptcy, insolvency, moratorium, receivership and other similar laws relating to creditors' rights generally and (ii) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought.
(c) The execution and delivery of this Agreement by LaSalle, the consummation of any other of the transactions contemplated by this Agreement, and the fulfillment of or compliance with the terms thereof are in the ordinary course of business of such Custodian and will not (i) result in a material breach of any term or provision of the articles of incorporation or by laws of such Custodian, (ii) materially conflict with, result in a material breach, violation or acceleration of, or result in a material default under, the terms of any other...
