Common use of Non-Recourse Exceptions Clause in Contracts

Non-Recourse Exceptions. The Purchased Loan Documents for each Purchased Loan provide that such Purchased Loan constitutes the non-recourse obligations of the related obligor thereon except that either (i) such provision does not apply in the case of fraud by the Mortgagor or (ii) such documents provide that the Mortgagor shall be liable to the holder of the Purchased Loan for losses incurred as a result of fraud by the Mortgagor.

Non-Recourse Exceptions. The Purchased Loan Documents for each Purchased Loan provide that such Purchased Loan constitutes the non-recourse obligations of the related obligor thereon except that either (i) such provision does not apply in the case of fraud fraud, misappropriation of awards, rents, proceeds, bankruptcy of Mortgagor and other carve-outs that are customary by the Mortgagor or (ii) such documents provide that the Mortgagor shall be liable to the holder of the Purchased Loan for losses incurred as a result of fraud by the Mortgagor.

Non-Recourse Exceptions. The Purchased Loan Documents for each ----------------------- Purchased Loan provide that such Purchased Loan constitutes the non-recourse obligations of the related obligor thereon except that either (i) such provision does not apply in the case of fraud by the Mortgagor or (ii) such documents provide that the Mortgagor shall be liable to the holder of the Purchased Loan for losses incurred as a result of fraud by the Mortgagor.

Non-Recourse Exceptions. The Purchased Loan Asset Documents for each the Purchased Loan provide that such Purchased Loan loan constitutes the non-recourse obligations of the related obligor thereon except that either (i) such provision does not apply in the case of fraud fraud, misappropriation of awards, rents, proceeds, bankruptcy of Mortgagor and other carve-outs that are customary by the Mortgagor or (ii) such documents provide that the Mortgagor shall be liable to the holder of the Purchased Loan such loan for losses incurred as a result of fraud by the Mortgagor.

Non-Recourse Exceptions. The Purchased Loan Asset Documents for each the Purchased Loan or the Underlying Whole Loan provide that such Purchased Loan loan constitutes the non-recourse obligations of the related obligor thereon except that either (i) such provision does not apply in the case of fraud fraud, misappropriation of awards, rents, proceeds, bankruptcy of Mortgagor and other carve-outs that are customary by the Mortgagor or (ii) such documents provide that the Mortgagor shall be liable to the holder of the Purchased Loan such loan for losses incurred as a result of fraud by the Mortgagor.