Common use of Remedy for Breaches of Representations and Warranties Clause in Contracts

Remedy for Breaches of Representations and Warranties. After the Seller becomes aware of any material breach of any Representation or Warranty in respect of any Loan and/or its Related Security (or where such Representation and Warranty is already qualified in its terms by reference to materiality, any breach of any such Representation and Warranty), it shall notify the Mortgages Trustee, Funding and the Security Trustee in writing thereof as soon as reasonably practicable.

Remedy for Breaches of Representations and Warranties. After the Seller becomes aware of any material breach of any Representation or Warranty in respect of any Loan and/or its Related Security (or where such Representation and Warranty is already qualified in its terms by reference to materiality, any breach of any such Representation and Warranty), it shall notify the Mortgages Trustee, Funding 1 and the Funding 1 Security Trustee in writing thereof as soon as reasonably practicable.