Non-Recourse Exceptions. The Mortgage Loan documents for each Mortgage Loan provide that the Mortgage Loan is non-recourse to the related Mortgagor except that the related Mortgagor shall be liable to the lender for losses incurred due to (i) fraud and/or other intentional misrepresentation, (ii) the misapplication or misappropriation of rents collected in advance or received by the related Mortgagor after the occurrence of an event of default, insurance proceeds or condemnation awards or (iii) any breach of the environmental covenants in the related Mortgage Loan documents.
Appears in 7 contracts
Samples: Mortgage Loan Purchase and Sale Agreement (Ge Commercial Mortgage Corp), Boana Mortgage Loan Purchase Agreement (GE Commercial Mortgage Corporation, Series 2007-C1 Trust), Gecc Mortgage Loan Purchase Agreement (GE Commercial Mortgage Corporation, Series 2007-C1 Trust)
Non-Recourse Exceptions. The Mortgage Loan documents for each Mortgage Loan provide that the Mortgage Loan is generally non-recourse to the related Mortgagor Mortgagor, except that the related Mortgagor shall be liable to the lender for losses incurred due to (i) fraud and/or other intentional material misrepresentation, (ii) the misapplication or misappropriation of rents collected in advance or received by the related Mortgagor after the occurrence of an event of default, insurance proceeds or condemnation awards or (iii) any breach of the environmental covenants in the related Mortgage Loan documents.
Appears in 1 contract
Samples: Mortgage Loan Purchase Agreement (CSFB Commercial Mort Pass THR Certs Ser 2004 C5)
