Common use of Ownership of Purchased Loans Clause in Contracts

Ownership of Purchased Loans. Immediately prior to the transfer to Buyer of the Purchased Loan, Seller had good title to, and was the sole owner of, the Purchased Loan. Seller has full right, power and authority to transfer and assign the Purchased Loans to or at the direction of Buyer and has validly and effectively conveyed (or caused to be conveyed) to Buyer or its designee all of Seller’s legal and beneficial interest in and to the Purchased Loan free and clear of any and all pledges, liens, charges, security interests and/or other encumbrances. The sale of the Purchased Loan to Buyer or its designee does not require Seller to obtain any approval or consent that has not been obtained. No Purchased loan sold to Buyer hereunder was acquired by Seller from an Affiliate of Seller unless otherwise approved by Buyer in writing.

Ownership of Purchased Loans. Immediately prior to the transfer to Buyer of the Purchased Loan, Seller had good title to, and was the sole owner of, the Purchased Loan. Seller has full right, power and authority to transfer and assign the Purchased Loans to or at the direction of Buyer and has validly and effectively conveyed (or caused to be conveyed) to Buyer or its designee all of Seller’s 's legal and beneficial interest in and to the Purchased Loan free and clear of any and all pledges, liens, charges, security interests and/or other encumbrances. The sale of the Purchased Loan to Buyer or its designee does not require Seller to obtain any approval or consent that has not been obtained. No Purchased loan sold to Buyer hereunder was acquired by Seller from an Affiliate of Seller unless otherwise approved by Buyer in writing.

Ownership of Purchased Loans. Immediately prior to the transfer to Buyer Buyers of the Purchased LoanLoans, Seller had good title to, and was the sole owner of, the each Purchased Loan. Seller has full right, power and authority to transfer and assign each of the Purchased Loans to or at the direction of Buyer Buyers and has validly and effectively conveyed (or caused to be conveyed) to Buyer Buyers or its their designee all of Seller’s legal and beneficial interest in and to the Purchased Loan Loans free and clear of any and all pledges, liens, charges, security interests and/or other encumbrances. The sale of the Purchased Loan Loans to Buyer Buyers or its their designee does not require Seller to obtain any governmental or regulatory approval or consent that has not been obtained. No Purchased loan sold to Buyer hereunder was acquired by Seller from an Affiliate of Seller unless otherwise approved by Buyer in writing.