Representations and Warranties Regarding Each Mortgage Loan Sample Clauses

Representations and Warranties Regarding Each Mortgage Loan. The Mortgage Loans have been sold by CIT Consumer Finance to the Company pursuant to the Purchase Agreement. In connection with such sale, CIT Consumer Finance has made the representations and warranties in Sections 3.02, 3.03 and 3.04 to the Company and has assumed the obligations in Section 3.05. As a condition of the purchase by the Company of the Mortgage Loans, the Company has required that CIT Consumer Finance make such representations and warranties directly to the Trustee and the Certificateholders so that the Trustee may recover directly against CIT Consumer Finance on such representations and warranties rather than indirectly through claims by the Company against CIT Consumer Finance. Consequently, CIT Consumer Finance represents and warrants to the Trustee and the Certificateholders as to each Mortgage Loan as of the Closing Date (except as otherwise expressly stated): (a) List of Mortgage Loans. The information set forth in the List of Mortgage Loans is true and correct as of its date.
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Representations and Warranties Regarding Each Mortgage Loan. CIT Consumer Finance as Seller with respect to the Seller Mortgage Loans and as Master Servicer, in consideration of its appointment hereunder, with respect to the Conduit Mortgage Loans and with respect to the Mortgage Loans taken as a whole, has made the representations and warranties in Sections 3.02, 3.03 and 3.04 to the Depositor and has assumed the obligations in Section 3.05. As a condition of the purchase by the Depositor of the Mortgage Loans, the Depositor has required that CIT Consumer Finance make such representations and warranties directly to the Trustee and the Certificateholders so that the Trustee may recover directly against CIT Consumer Finance on such representations and warranties rather than indirectly through claims by the Depositor against CIT Consumer Finance. Consequently, CIT Consumer Finance represents and warrants to the Trustee and the Certificateholders as to each Mortgage Loan as of the Closing Date (except as otherwise expressly stated):
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Representations and Warranties Regarding Each Mortgage Loan. The Seller and the Originator represent and warrant, jointly and severally, as of the Closing Date with respect to each Initial and Additional Asset, and as of the applicable Subsequent Transfer Date with respect to each Subsequent Asset identified in the Mortgage Loan Schedule attached to the related Subsequent Transfer Instrument: (1) The information pertaining to each Mortgage Loan set forth in the Mortgage Loan Schedule was true and correct at the date or dates as of which such information was furnished. (2) Neither the Seller nor the Originator has assigned any interest or participation in any Mortgage Loan other than as contemplated in this Agreement (or if any such interest or participation has been assigned it has been released or will be released prior to or concurrently with the transfer of such Mortgage Loan pursuant to the Transfer Agreement, any Subsequent Transfer Agreement or this Agreement). Neither the Seller nor the Originator has acted to (i) modify any Mortgage Note or Mortgage relating to any Mortgage Loan in any material respect, (ii) satisfy, cancel or subordinate any Mortgage Loan in whole or in part, (iii) release the related Mortgaged Property in whole or in part from the lien of any Mortgage Loan or (iv) execute any instrument effecting the release, cancellation, modification or satisfaction of any Mortgage Loan. (3) The Mortgage Note for each Mortgage Loan delivered to the Seller, the Depositor or the Trustee is the original Mortgage Note and is the only Mortgage Note evidencing the Mortgage Loan that has been manually signed by the related Obligor. As of the Cut-off Date, there is no default, breach, violation or event of acceleration existing under any of the Mortgage Loan Documents transferred to the Trustee or any event that with notice and expiration of any grace or cure period would result in such a default, breach, violation or event of acceleration. (4) As of the applicable Cut-off Date, no Monthly Payment on any Mortgage Loan was more than [59] days delinquent. (5) Each Mortgage Note and Mortgage executed and delivered by an Obligor in connection with a Mortgage Loan has been duly executed and delivered by the related Obligor and constitutes a legal, valid and binding obligation of such Obligor, enforceable against such Obligor in accordance with its terms, subject, as to enforcement of remedies, to applicable bankruptcy, reorganization, insolvency or other similar laws affecting the enforcement of creditors' rights gen...
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Representations and Warranties Regarding Each Mortgage Loan. The seller and the originator will make certain representations and warranties to the trustee with respect to each mortgage loan sold by it, as of the Closing Date unless expressly stated otherwise, including the following:
Sample 1
Representations and Warranties Regarding Each Mortgage Loan. CIT Consumer Finance as Seller with respect to the Seller Mortgage Loans and as Master Servicer, in consideration of its appointment hereunder, with respect to the Conduit Mortgage Loans and with respect to the Mortgage Loans taken as a whole, represents and warrants to the Trust, the Depositor and the Certificateholders as to each Initial Mortgage Loan as of the Closing Date and as to each Subsequent Mortgage Loan as of the related Subsequent Transfer Date (except as otherwise expressly stated):
Sample 1
Representations and Warranties Regarding Each Mortgage Loan. CIT Consumer Finance as Seller with respect to the Seller Mortgage Loans [and as Master Servicer, in consideration of its appointment hereunder, with respect to the Conduit Mortgage Loans and with respect to the Mortgage Loans taken as a whole,] represents and warrants to the Trust, the Depositor and the Certificateholders [as to each Initial Mortgage Loan] as of the Closing Date [and as to each Subsequent Mortgage Loan as of the related Subsequent Transfer Date] (except as otherwise expressly stated): (a) List of Mortgage Loans. The information set forth in the [List of Initial Mortgage Loans or the List of Subsequent Mortgage Loans, as applicable,] is true and correct as of its date.
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Related to Representations and Warranties Regarding Each Mortgage Loan

  • Representations and Warranties Regarding Individual Mortgage Loans The Seller hereby represents and warrants to the Purchaser that, as to each Mortgage Loan, as of the related Closing Date for such Mortgage Loan:

  • Representations and Warranties Regarding Each Contract Seller represents and warrants as to each Contract as of the execution and delivery of this Agreement and as of the Closing Date, that:

  • Representations and Warranties of Each Fund Each Fund hereby severally and not jointly represents and warrants that each of the following shall be true, correct and complete with respect to each Fund at all times during the term of this Agreement: (i) the Fund is duly organized under the laws of its jurisdiction of organization and is registered as an open-end management investment company under the 1940 Act; and (ii) the execution, delivery and performance by the Fund of this Agreement are (w) within its power, (x) have been duly authorized by all necessary action, and (y) will not (A) contribute to or result in a breach of or default under or conflict with any existing law, order, regulation or ruling of any governmental or regulatory agency or authority, or (B) violate any provision of the Fund's corporate charter, Declaration of Trust or other organizational document, or bylaws, or any amendment thereof or any provision of its most recent Prospectus or Statement of Additional Information.

  • REPRESENTATIONS AND WARRANTIES OF EACH SELLER Each Seller, severally and not jointly, represents and warrants to Buyer as follows:

  • REPRESENTATIONS AND WARRANTIES OF EACH PURCHASER Each Purchaser, severally and not jointly, for itself and for no other Purchaser, hereby represents and warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein in which case they shall be accurate as of such date):

  • Representations and Warranties Regarding the Master Servicer The Master Servicer represents and warrants to the Issuer and for the benefit of the Indenture Trustee, as pledgee of the Mortgage Loans and the Bondholders, as of the Cut-off Date and the Closing Date, that: (i) The Master Servicer is a corporation duly organized, validly existing and in good standing under the laws of the State of California and has the corporate power to own its assets and to transact the business in which it is currently engaged. The Master Servicer is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or leased by it requires such qualification and in which the failure to so qualify would have a material adverse effect on the business, properties, assets, or condition (financial or other) of the Master Servicer or the validity or enforceability of the Mortgage Loans; (ii) The Master Servicer has the power and authority to make, execute, deliver and perform this Servicing Agreement and all of the transactions contemplated under this Servicing Agreement, and has taken all necessary corporate action to authorize the execution, delivery and performance of this Servicing Agreement. When executed and delivered, this Servicing Agreement will constitute the legal, valid and binding obligation of the Master Servicer enforceable in accordance with its terms, except as enforcement of such terms may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors' rights generally and by the availability of equitable remedies; (iii) The Master Servicer is not required to obtain the consent of any other Person or any consent, license, approval or authorization from, or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Servicing Agreement, except for such consent, license, approval or authorization, or registration or declaration, as shall have been obtained or filed, as the case may be; (iv) The execution and delivery of this Servicing Agreement and the performance of the transactions contemplated hereby by the Master Servicer will not violate any provision of any existing law or regulation or any order or decree of any court applicable to the Master Servicer or any provision of the certificate of incorporation or bylaws of the Master Servicer, or constitute a material breach of any mortgage, indenture, contract or other agreement to which the Master Servicer is a party or by which the Master Servicer may be bound; (v) No litigation or administrative proceeding of or before any court, tribunal or governmental body is currently pending (other than litigation with respect to which pleadings or documents have been filed with a court, but not served on the Master Servicer), or to the knowledge of the Master Servicer threatened, against the Master Servicer or any of its properties or with respect to this Servicing Agreement or the Bonds or the Certificates which, to the knowledge of the Master Servicer, has a reasonable likelihood of resulting in a material adverse effect on the transactions contemplated by this Servicing Agreement; and (vi) The Master Servicer is a member of MERS in good standing, and will comply in all material respects with the rules and procedures of MERS in connection with the servicing of the Mortgage Loans that are registered with MERS. The foregoing representations and warranties shall survive any termination of the Master Servicer hereunder.

  • Representations and Warranties Regarding the Servicer The Servicer represents and warrants to Company, the Issuer and for the benefit of the Indenture Trustee, as pledgee of the Mortgage Collateral, and the Securityholders, as of the Cut-Off Date, [the date of the Servicing Agreement], the Closing Date [and any Deposit Date], that: (i) The Servicer is a corporation duly organized, validly existing and in good standing under the laws of the State of [_______] and has the corporate power to own its assets and to transact the business in which it is currently engaged. The Servicer is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or leased by it requires such qualification and in which the failure to so qualify would have a material adverse effect on the business, properties, assets, or condition (financial or other) of the Servicer; (ii) The Servicer has the power and authority to make, execute, deliver and perform this Servicing Agreement and all of the transactions contemplated under this Servicing Agreement, and has taken all necessary corporate action to authorize the execution, delivery and performance of this Servicing Agreement. When executed and delivered, this Servicing Agreement will constitute the legal, valid and binding obligation of the Servicer enforceable in accordance with its terms, except as enforcement of such terms may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors' rights generally and by the availability of equitable remedies; (iii) The Servicer is not required to obtain the consent of any other Person or any consent, license, approval or authorization from, or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Servicing Agreement, except for such consent, license, approval or authorization, or registration or declaration, as shall have been obtained or filed, as the case may be; (iv) The execution and delivery of this Servicing Agreement and the performance of the transactions contemplated hereby by the Servicer will not violate any provision of any existing law or regulation or any order or decree of any court applicable to the Servicer or any provision of the Certificate of Incorporation or Bylaws of the Servicer, or constitute a material breach of any mortgage, indenture, contract or other agreement to which the Servicer is a party or by which the Servicer may be bound; and (v) No litigation or administrative proceeding of or before any court, tribunal or governmental body is currently pending, or to the knowledge of the Servicer threatened, against the Servicer or any of its properties or with respect to this Servicing Agreement or the Notes or the Certificates which in the opinion of the Servicer has a reasonable likelihood of resulting in a material adverse effect on the transactions contemplated by this Servicing Agreement. The foregoing representations and warranties shall survive any termination of the Servicer hereunder.

  • REPRESENTATIONS AND WARRANTIES OF EACH INVESTOR Each Investor represents and warrants to the Company as follows:

  • Representations and Warranties Regarding the Contract Files Seller represents and warrants as of the execution and delivery of this Agreement and as of the Closing Date, in the case of the Initial Contracts, and as of the applicable Subsequent Transfer Date, in the case of Subsequent Contracts, that:

  • Representations and Warranties Regarding the Seller The Seller represents, warrants and covenants to the Purchaser that as of the date hereof and as of each Closing Date:

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