No Monetary Defaults Clause Samples

No Monetary Defaults. (a) With respect to each Mortgage Loan, to the best of the Company’s knowledge, there is no monetary default, monetary breach, monetary violation or event of acceleration existing under the Mortgage or the Mortgage Note and no event that, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a monetary default (other than a payment delinquency of less than 30 days as calculated under Mortgage Bankers Association delinquency methodology), monetary breach, monetary violation or event of acceleration; (b) with respect to each Mortgage Loan, the Servicer has not waived any default, breach, violation or event of acceleration existing under the Mortgage or the Mortgage Note; and (c) with respect to each Mortgage Loan, no foreclosure action has been commenced with respect to such Mortgage Loan and, to the best of the Company’s knowledge, is currently threatened;

No Monetary Defaults. There are, and have been since origination, no defaults in complying with the terms of the Mortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains