Representations and Warranties Regarding Seller. Seller represents and warrants, as of the execution and delivery of this Agreement and as of the Closing Date, that:
Representations and Warranties Regarding Seller. Seller represents and warrants to Buyer as follows:
Representations and Warranties Regarding Seller. After diligent investigation and inquiry, and notwithstanding any assignment without recourse, Seller represents and warrants to Arc that as of the Closing Date the following. Each of the representations and warranties contained in this Section
4.1 is true and correct upon the execution of this Agreement and upon delivery of any Loan to Arc for purchase.
(A) Seller is duly organized, validly existing, and in good standing under the laws of the state of its organization and has all qualifications, registrations, and licenses, and permits necessary to carry on its business in each state in which Seller originates or purchases Loans. Seller agrees to provide Arc with copies of all applicable licenses, permits, exemptions or approvals upon request. No licenses or approvals obtained by the Seller have been suspended or revoked by any court, administrative agency, arbitrator or governmental body and no proceedings are pending which might result in such suspension or revocation. Seller has all requisite power and authority to execute, deliver and perform this Agreement. All requisite action has been taken by Seller to make this Agreement valid and binding upon Seller in accordance with its terms.
(B) No approval of the transactions contemplated by this Agreement from any regulatory authority having jurisdiction over Seller is required, or if required, such approval has been obtained. There is no claim, litigation, investigation or proceeding pending or threatened against or otherwise materially adversely affecting Seller's business or the performance of its obligations under this Agreement and Seller has no knowledge of any circumstances indicating that any such suit, investigation or proceeding is likely or imminent.
(C) With respect to any FHA Loan submitted by Seller, Seller is approved by FHA to participate in its "direct endorsement" mortgage insurance program, or is an FHA sponsored lender with underwriting performed by Xxx. With respect to any VA Loan submitted by Seller, Seller is either approved to originate and submit Loans to VA for VA approval, or to underwrite mortgage loans with automatic authority. With respect to any USDA Loan submitted by Seller, Seller is an approved lender to originate USDA loans.
(D) Seller is not presently, nor within the five (5) year period preceding the date of this Agreement has been, subject to any administrative actions and/or sanctions imposed by HUD, FHA, VA or USDA.
(E) The consummation of the transactions contemplat...
Representations and Warranties Regarding Seller. Seller represents and warrants to Buyer, except as set forth in the Seller Disclosure Schedule, as follows:
Representations and Warranties Regarding Seller. Except as Previously Disclosed, Seller represents and warrants to Purchaser, as of the date of this Agreement (or as of such other date as may be expressly provided in any representation or warranty), as follows:
Representations and Warranties Regarding Seller. Seller hereby represents and warrants to Purchaser, as of the date hereof, except as set forth on the disclosure schedules attached hereto ("SELLER'S SCHEDULE OF EXCEPTIONS"), as follows:
Representations and Warranties Regarding Seller. Except as disclosed in, or qualified by any matter set forth in, the Schedules provided by Seller, Seller hereby represents and warrants to Buyer as follows:
Representations and Warranties Regarding Seller. 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:
(a) ORGANIZATION AND GOOD STANDING. Seller is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and has the corporate power to own its assets and to transact the business in which it is currently engaged. Seller 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 so to qualify would have a material adverse effect on the business, properties, assets, or condition (financial or otherwise) of Seller or Trust Depositor. Seller is properly licensed in each jurisdiction to the extent required by the laws of such jurisdiction to service the Contracts in accordance with the terms of the Sale and Servicing Agreement.
Representations and Warranties Regarding Seller. 6 SECTION 3.02.
Representations and Warranties Regarding Seller. Seller represents and warrants to Purchaser as of the Execution Date and as of the Closing Date as follows:
