Proceeds of Mortgage Loan. The proceeds of the Mortgage Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or any Affiliate or correspondent thereof unless such debt was originated more than 12 months prior to the origination of such Mortgage Loan;
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Samples: Master Repurchase Agreement (WMC Finance Co), Master Repurchase Agreement (ECC Capital CORP), Master Repurchase Agreement (ECC Capital CORP)
Proceeds of Mortgage Loan. The proceeds of the Mortgage Loan have not been and shall Shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or any Affiliate or correspondent thereof unless such debt was originated more than 12 months prior to the origination of such Mortgage Loan;
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Samples: Master Repurchase Agreement (Hanover Capital Mortgage Holdings Inc)
Proceeds of Mortgage Loan. The proceeds of the Mortgage Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller Company or any Affiliate or correspondent thereof unless such debt was originated more than 12 twenty-four (24) months prior to the origination of such Mortgage LoanLoan unless there is a tangible net benefit to the related Mortgagor;
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