Common use of Representations and Warranties of Backup Servicer Clause in Contracts

Representations and Warranties of Backup Servicer. 1. Backup Servicer is a national banking association in good standing under the laws of the United States, and has full corporate power and authority to enter into this Servicing Agreement and to carry out the provisions of this Servicing Agreement. Backup Servicer has all licenses, approvals and consents to conduct its business as contemplated by this Agreement, except to the extent that the failure to possess such licenses, approvals and consents does not have a material adverse effect on the ability of the Backup Servicer to perform its duties under this Servicing Agreement.

Representations and Warranties of Backup Servicer. 1. Backup Servicer is a national banking association in good standing under the laws of the United States, and has full corporate power and authority to enter into this Servicing Agreement and to carry out the provisions of this Servicing Agreement. Backup Servicer has all licenses, approvals and consents to conduct its business as contemplated by this Agreement, except to the extent that the failure to possess such licenses, approvals and consents does not have a material adverse effect on the ability of the Backup Servicer to perform its duties under this Servicing Agreement.