Quality of Title/Valid Transfers. (i) Immediately before the Purchase to be made by the Buyer hereunder on such date, each CMSC Purchased Asset to be sold to the Buyer shall be owned by the Originator free and clear of any Lien (other than any Permitted Lien), and the Originator shall have made all filings and shall have taken all other action under applicable law in each relevant jurisdiction in order to protect and perfect the ownership interest of the Buyer and its successors and assigns in such CMSC Purchased Assets against all creditors of, and purchasers from, the Originator (subject to Permitted Exceptions).
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Samples: Purchase Agreement (Cendant Corp), CMGFSC Purchase Agreement (Realogy Corp), Purchase Agreement (PHH Corp)
Quality of Title/Valid Transfers. (i) Immediately before the Purchase to be made by the Buyer Issuer hereunder on such date, each CMSC Purchased Asset to be sold to the Buyer Issuer shall be owned by the Originator free and clear of any Lien (other than any Permitted Lien), and the Originator shall have made all filings and shall have taken all other action under applicable law in each relevant jurisdiction in order to protect and perfect the ownership interest of the Buyer Issuer and its successors and assigns in such CMSC Fee Purchased Assets against all creditors of, and purchasers from, the Originator (subject to Permitted Exceptions).
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