Representations and Warranties Regarding the Mortgage Loans. For purposes of these representations and warranties, the phrase "to the knowledge of Seller" or "
Representations and Warranties Regarding the Mortgage Loans. (a) In addition to the representations and warranties made by the Seller in the Mortgage Loan Purchase and Servicing Agreements and assigned to the Issuer in Section 2.01, the Depositor hereby makes, for the benefit of the Issuer and the Enhancer, the representations and warranties with respect to the Mortgage Loans purchased on December 13, 2002 (which representations and warranties are set forth in Exhibit C) for the period of time from, and excluding, December 13, 2002 to, and including, the Closing Date (the "Applicable Period"). The representations and warranties with respect to the Mortgage Loans made by the Depositor shall be deemed to be breached by the Depositor if any such representation and warranty is inaccurate at any time during the Applicable Period and such inaccuracy is due to events occurring or facts arising with respect to the Mortgage Loans during the Applicable Period. The Depositor shall have an obligation pursuant to Section 2.08 to cure or repurchase a Mortgage Loan for which there is a breach of its representations and warranties. In the case of any Eligible Substitute Mortgage Loans, the representations and warranties of the Depositor shall be deemed to be made as of the related Subsequent Transfer Date. With respect to any representation or warranty contained in Exhibit C of this Agreement that was made to the Seller's knowledge, if the substance of such representation or warranty is inaccurate and such inaccuracy materially and adversely affects the value of the related Mortgage Loan or the interests of the Trust, then such inaccuracy shall be deemed a breach of the representation or warranty for all purposes under this Agreement notwithstanding such qualification.
(b) The representations and warranties of both the Seller in the Mortgage Loan Purchase and Servicing Agreements and the representations and warranties of the Depositor herein shall survive the sale, transfer and assignment of the Mortgage Loans to the Issuer and the pledge thereof to the Indenture Trustee pursuant to the Indenture. The representations and warranties set forth in this Section shall survive delivery of the Mortgage Files to the Indenture Trustee pursuant to Section 2.04 and the termination of the rights and obligations of the Master Servicer pursuant to Section 6.04 or Article VII.
Representations and Warranties Regarding the Mortgage Loans. For purposes of these representations and warranties, the phrase "to the knowledge of the Seller" or "to the Seller's knowledge" shall mean, except where otherwise expressly set forth below, the actual state of knowledge of the Seller or any servicer acting on its behalf regarding the matters referred to, in each case without having conducted any independent inquiry or due diligence with respect to such matters and without any actual or implied obligation to make such inquiry or perform such due diligence, other than making such inquiry or performing such due diligence as would be customarily performed by prudent commercial or multifamily mortgage lenders or servicers (as the case may be) with respect to similar mortgage loans or mortgaged properties. All information contained in documents which are part of or required to be part of a Mortgage File shall be deemed to be within the knowledge of the Seller. Wherever there is a reference to receipt by, or possession of, the Seller of any information or documents, or to any action taken by the Seller or not taken by the Seller, such reference shall include the receipt or possession of such information or documents by, or the taking of such action or the not taking of such action by, either the Seller or any servicer acting on its behalf. The Seller hereby represents and warrants, subject to the exceptions set forth in the applicable Exception Report, with respect to the Mortgage Loans that as of the date hereinbelow specified or, if no such date is specified, as of the date of this Agreement:
Representations and Warranties Regarding the Mortgage Loans. The representations and warranties of the Seller in the Mortgage Loan Sale Agreement shall survive the sale, transfer and assignment of the Mortgage Loans to the Issuer and the pledge thereof to the Indenture Trustee pursuant to the Indenture. The representations and warranties set forth in this Section shall survive delivery of the Mortgage Files to the Custodian pursuant to Section 2.04 and the termination of the rights and obligations of the Master Servicer pursuant to Section 6.04 or Article VII.
Representations and Warranties Regarding the Mortgage Loans. (a) The Seller restates below, for the benefit of the Issuer, with respect to each Mortgage Loan, the same representations and warranties made by the Seller to the Depositor in Section 7.02 of the Mortgage Loan Purchase and Servicing Agreement (all capitalized terms used and not defined herein shall have the meanings given to such terms in the Mortgage Loan Purchase and Servicing Agreement). Each representation and warranty set forth below is made by the Seller only as of June 13, 2003.
i. The information set forth in the Mortgage Loan Schedule to the Mortgage Loan Purchase and Servicing Agreement is complete, true and correct in all material respects;
Representations and Warranties Regarding the Mortgage Loans. Except as disclosed in the Exception Report to this Agreement:
Representations and Warranties Regarding the Mortgage Loans. The Unaffiliated Seller hereby represents and warrants to the Depositor, as of the Closing Date, that (i) to the effect set forth in Exhibit B attached hereto with respect to each Superior Mortgage Loan and (ii) to the effect set forth in Exhibit C attached hereto with respect to each NC Mortgage Loan.
Representations and Warranties Regarding the Mortgage Loans. (a) The Seller restates below, for the benefit of the Issuer, with respect to each Mortgage Loan, the same representations and warranties made by the Seller to the Depositor in Section 7.02 of the Mortgage Loan Purchase and Servicing Agreement. All capitalized terms used and not defined in this Section 2.07 shall have the meanings given to such terms in the Mortgage Loan Purchase and Servicing Agreement. Each representation and warranty set forth below is made by the Seller only as of September 15, 2004 (for the purposes of this Section 2.07, the "Closing Date").
i. The information set forth in the Mortgage Loan Schedule to the Mortgage Loan Purchase and Servicing Agreement is complete, true and correct in all material respects; ii. 99.75% of the Mortgage Loans by Stated Principal Balance have no payment which is greater than 29 days past due and none of the Mortgage Loans have no payment which is greater than 59 days past due. To the best of Seller's knowledge, no Mortgage Loan has been dishonored and there are no material defaults under the terms of the Mortgage Loan, except as set forth in this paragraph;
iii. To the best of Seller's knowledge, there is no valid offset, right of rescission, defense or counterclaim of any obligor under any Mortgage Note or Mortgage, including the obligation of the Mortgagor to pay the unpaid principal of or interest on such Mortgage Note, and any applicable right of rescission has expired, nor will the operation of any of the terms of such Mortgage Note or Mortgage, or the exercise of any right thereunder, render either the Mortgage Note or the Mortgage unenforceable, in whole or in part, or subject to any right of rescission, set-off, recoupment, counterclaim or defense, including, without limitation, the defense of usury, and no such right of rescission, set-off, recoupment, counterclaim or defense has been asserted with respect thereto. To the best of Seller's knowledge, no Mortgage Loan is subject to any pending bankruptcy, insolvency, reorganization or moratorium;
iv. Other than amounts that constitute Permitted Liens, to the best of Seller's knowledge, there are no mechanics' liens or similar liens or claims for work, labor or material affecting any Mortgaged Property which have been filed (and no rights are outstanding that under law could give rise to such liens), which are or may be a lien prior to, or equal with, the lien of such Mortgage;
v. To the best of Seller's knowledge, there was and there currently is n...
Representations and Warranties Regarding the Mortgage Loans. AHM and BANA will close this transaction under the terms of the Agreement and such other agreements as are customary in this type of transaction. The Agreement will require that AHM repurchase each Mortgage Loan or substitute a like Mortgage Loan for each Mortgage Loan as to which a representation and warranty has been breached and is not cured, within the applicable cure period, and such breach materially and adversely affects the value of the Mortgage Loan or the interest of BANA in such Mortgage Loan. The representations and warranties will survive over the life of each Mortgage Loan, notwithstanding any restrictive endorsement on a mortgage note or mortgage assignment, or the extent of any diligence conducted by BANA. In addition, the Agreement, including all rights, remedies, representations and warranties thereunder, shall be assignable by BANA.
Representations and Warranties Regarding the Mortgage Loans. With respect to each Purchased Loan, each representation and warranty set forth on Schedule II is true and correct.
