Common use of ORIGINATOR REPRESENTATIONS AND WARRANTIES RELATING TO THE ORIGINATOR Clause in Contracts

ORIGINATOR REPRESENTATIONS AND WARRANTIES RELATING TO THE ORIGINATOR. The Originator represents, warrants and covenants to the Purchaser as of the Closing Date or as of such other date specifically provided herein: (a) The Originator is duly organized, validly existing and in good standing under the laws of the state of California and is and will remain in compliance with the laws of each state in which any Mortgaged Property is located to the extent necessary to ensure the enforceability of each Mortgage Loan and the servicing of the Mortgage Loan in accordance with the terms of this Agreement; (b) The Originator has the full power and authority to hold each Mortgage Loan, to sell each Mortgage Loan to the Seller, and to execute, deliver and perform, and to enter into and consummate, all transactions contemplated by this Agreement. The Originator has duly authorized the execution, delivery and performance of this Agreement, has duly executed and delivered this Agreement, and this Agreement, assuming due authorization, execution and delivery by the Purchaser, constitutes a legal, valid and binding obligation of the Originator, enforceable against it in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency or reorganization; (c) The execution and delivery of this Agreement by the Originator and the performance of and compliance with the terms of this Agreement will not violate the Originator's articles of incorporation or by-laws or constitute a default under or result in a breach or acceleration of, any material contract, agreement or other instrument to which the Originator is a party or which may be applicable to the Originator or its assets;

ORIGINATOR REPRESENTATIONS AND WARRANTIES RELATING TO THE ORIGINATOR. The Originator represents, warrants and covenants to the Purchaser as of the Closing Date or as of such other date specifically provided herein: (a) The Originator is duly organized, validly existing and in good standing under the laws of the state of California North Carolina and is and will remain in compliance with the laws of each state in which any Mortgaged Property is located to the extent necessary to ensure the enforceability of each Mortgage Loan and the servicing of the Mortgage Loan in accordance with the terms of this Agreement; (b) The Originator has the full power and authority to hold each Mortgage Loan, to sell each Mortgage Loan to the Seller, and to execute, deliver and perform, and to enter into and consummate, all transactions contemplated by this Agreement. The Originator has duly authorized the execution, delivery and performance of this Agreement, has duly executed and delivered this Agreement, and this Agreement, assuming due authorization, execution and delivery by the Purchaser, constitutes a legal, valid and binding obligation of the Originator, enforceable against it in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency or reorganization; (c) The execution and delivery of this Agreement by the Originator and the performance of and compliance with the terms of this Agreement will not violate the Originator's articles of incorporation or by-laws or constitute a default under or result in a breach or acceleration of, any material contract, agreement or other instrument to which the Originator is a party or which may be applicable to the Originator or its assets;

ORIGINATOR REPRESENTATIONS AND WARRANTIES RELATING TO THE ORIGINATOR. The Originator represents, warrants and covenants to the Purchaser as of the Closing Date or as of such other date specifically provided herein: (a) The Originator is duly organized, validly existing and in good standing under the laws of the state of California its incorporation and is and will remain in compliance with the laws of each state in which any Mortgaged Property is located to the extent necessary to ensure the enforceability of each Mortgage Loan and the servicing of the Mortgage Loan in accordance with the terms of this Agreement; (b) The Originator has the full power and authority to hold each Mortgage Loan, to sell each Mortgage Loan to the Seller, and to execute, deliver and perform, and to enter into and consummate, all transactions contemplated by this Agreement. The Originator has duly authorized the execution, delivery and performance of this Agreement, has duly executed and delivered this Agreement, and this Agreement, assuming due authorization, execution and delivery by the PurchaserPurchaser and the Seller, constitutes a legal, valid and binding obligation of the Originator, enforceable against it in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency or reorganization; (c) The execution and delivery of this Agreement by the Originator and the performance of and compliance with the terms of this Agreement will not violate the Originator's articles of incorporation or by-laws or constitute a default under or result in a breach or acceleration of, any material contract, agreement or other instrument to which the Originator is a party or which may be applicable to the Originator or its assets;