Remedies for Breach of Certain Representations and Warranties. (a) It is understood and agreed that the representations and warranties set forth herein shall survive the sale of the Mortgage Loans to the Purchaser, notwithstanding any restrictive or qualified endorsement on the Mortgage Notes and notwithstanding subsequent termination of this Agreement or the Pooling and Servicing Agreement, and shall inure to the benefit of the Purchaser, and the Trustee as the transferee of the Purchaser, notwithstanding (1) any restrictive or qualified endorsement on any Mortgage Note, assignment of Mortgage, Assignment of Leases, Rents and Profits or reassignments thereof (2) any termination of this Agreement or (3) the examination by any Person of, or failure by any Person to examine, any Mortgage File. It is further understood and agreed that the representations and warranties set forth in Section 3.2(b) relate only to the Mortgage Loans conveyed hereunder and do not cover any mortgage loans sold to the Purchaser by any other Person.
Appears in 3 contracts
Samples: Mortgage Loan Purchase Agreement (Merrill Lynch Mort Invest Inc Mort Pass THR Cert Ser 1999 C1), Mortgage Loan Purchase Agreement (Merrill Lynch Mort Invest Inc Mort Pass THR Cert Ser 1999 C1), Mortgage Loan Purchase Agreement (Merrill Lynch Mort Invest Inc Mort Pass THR Cert Ser 1999 C1)
Remedies for Breach of Certain Representations and Warranties. (a) It is understood and agreed that the representations and warranties set forth herein shall survive the sale of the Mortgage Loans to the Purchaser, notwithstanding any restrictive or qualified endorsement on the Mortgage Notes and notwithstanding subsequent termination of this Agreement or the Pooling and Servicing Agreement, and shall inure to the benefit of the Purchaser, and the Trustee as the transferee of the Purchaser, notwithstanding (1) any restrictive or qualified endorsement on any Mortgage Note, assignment of Mortgage, Assignment of Leases, Rents and Profits or reassignments thereof (2) any termination of this Agreement or (3) the examination by any Person of, or failure by any Person to examine, any Mortgage File. It is further understood and agreed that the representations and warranties set forth in Section 3.2(b) relate only to the Mortgage Loans conveyed hereunder and do not cover any mortgage loans sold to the Purchaser by any other Person.
Appears in 2 contracts
Samples: Mortgage Loan Purchase and Sale Agreement (Painewebber Mortgage Acceptance Corp V), Mortgage Loan Purchase and Sale Agreement (Painewebber Mortgage Acceptance Corp V)
