Representations and Warranties Relating to the Mortgage Loans. The Originators represent and warrant to the Unaffiliated Seller and the Unaffiliated Seller represents to the Depositor that, as of the Closing Date, as to each Initial Mortgage Loan, and as of the Subsequent Transfer Date, as to each Subsequent Mortgage Loan, immediately prior to the sale and transfer of such Mortgage Loan by the Unaffiliated Seller to the Depositor:
Representations and Warranties Relating to the Mortgage Loans. (i) The Seller or its affiliate is the sole owner of record and holder of the Mortgage Loan and the indebtedness evidenced by the Mortgage Note. Immediately prior to the transfer and assignment to the Depositor on the Closing Date, The Mortgage Loan, including the Mortgage Note and the Mortgage, were not subject to an assignment or pledge, and the Seller had good and marketable title to and was the sole owner thereof and had full right to transfer and sell the Mortgage Loan to the Depositor free and clear of any encumbrance, equity, lien, pledge, charge, claim or security interest and has the full right and authority subject to no interest or participation of, or agreement with, any other party, to sell and assign the Mortgage Loan and following the sale of the Mortgage Loan, The Depositor will own such Mortgage Loan free and clear of any encumbrance, equity, participation interest, lien, pledge, charge, claim or security interest.
Representations and Warranties Relating to the Mortgage Loans. DLJMC, in its capacity as Seller, hereby makes the representations and warranties set forth in this Schedule IV to the Depositor and the Trustee, as of the Closing Date, or the date specified herein, with respect to the Mortgage Loans identified on Schedule I hereto.
Representations and Warranties Relating to the Mortgage Loans. (a) The Originator and the Obligor hereby represent and warrant with respect to the Mortgage Loans to the Purchaser that as of the Closing Date or as of such date specifically provided herein:
Representations and Warranties Relating to the Mortgage Loans. I. The Originator hereby represents and warrants to the Purchaser, with respect to each Mortgage Loan that is a Mortgage Loan as of the Closing Date (or in the case of certain specified representations and warranties, as of the Cut-off Date) or as of such other date specifically provided herein (except that with respect to any Qualified Substitute Mortgage Loan such representations and warranties shall be as of the date of substitution and made by the Originator), that:
Representations and Warranties Relating to the Mortgage Loans. The Unaffiliated Seller represents and warrants to the Depositor, as of the Closing Date, that as to each Mortgage Loan, immediately prior to the sale and transfer of the Mortgage Loans by the Unaffiliated Seller to the Depositor:
Representations and Warranties Relating to the Mortgage Loans. (a) Each Originator represents and warrants to the Indenture Trustee, the Collateral Agent, the Trust and the Noteholders that, as of the related Transfer Date, immediately prior to the sale and transfer of the related Mortgage Loan by such Originator to the Depositor:
Representations and Warranties Relating to the Mortgage Loans. In connection with the Mortgage Loans transferred and assigned hereunder, Xxxxxx Mae may, at its option, elect to repurchase any Mortgage Loan as to which there shall have occurred (i) a material breach of any representation and warranty made (including, for this purpose, any eligibility requirement) under the Sale and Servicing Agreement and (ii) the failure by any responsible party to take appropriate action with respect thereto pursuant to the Sale and Servicing Agreement. The Trustee agrees to release any Mortgage Loan from the Trust upon payment of the Purchase Price therefor in the event that such Mortgage Loan is the subject of a breach of a representation and warranty and an election has been made to repurchase the Mortgage Loan. In connection with such transfer of each Mortgage Loan, Xxxxxx Xxx shall have taken possession of the related Mortgage Note endorsed in blank by the Servicer under the Sale and Servicing Agreement, together with such other related documents as Xxxxxx Mae shall have deemed necessary. In the event that Xxxxxx Xxx shall discover subsequent to the transfer and assignment of a Mortgage Loan to the Trustee that the actual principal balance of such Mortgage Loan at the date such Mortgage Loan’s principal balance was calculated was different from such Mortgage Loan’s Issue Date Principal Balance as specified in the Mortgage Loan Schedule, Xxxxxx Mae may make such adjustments as shall be necessary to bring such actual balance and specified principal balance into agreement.
Representations and Warranties Relating to the Mortgage Loans. As to each Mortgage Loan (and the related Mortgage, Mortgage Notes or Loan Agreements, as applicable, Assignments and Mortgaged Property), Seller shall be deemed to make the following representations and warranties to Purchaser and Indenture Trustee as of the Closing Date (except as otherwise specified below).
Representations and Warranties Relating to the Mortgage Loans. The representations and warranties with respect to the Mortgage Loans in the related Sale and Servicing Agreement were made as of the dates of the related Memorandum or Memoranda of Sale. The Seller's right, title and interest in such representations and warranties and the remedies in connection therewith have been assigned by the Seller to the Company and by the Company to the Trust in various assignment, assumption and recognition agreements among the Seller, the Company, the Master Servicer, the Trustee and the various Originators. In addition, the Seller hereby assumes, on and after September 8, 2007, the obligations of Ameriquest with respect to the mortgage loan representations made by Ameriquest in Section 3.03 of the Ameriquest Sale and Servicing Agreement (the "Ameriquest Representations and Warranties"). To the extent that any fact, condition or event with respect to a Mortgage Loan constitutes a breach of both (i) a representation or warranty of an Originator under the applicable Sale and Servicing Agreement and (ii) a representation or warranty of the Seller under this Agreement (other than Section 3.01(xi) and (xix) below), the only right or remedy of the Purchaser shall be the right to enforce the obligations of the applicable Originator under any applicable representation or warranty made by it; provided, however, to the extent that any fact, condition or event with respect to an Ameriquest Mortgage Loan constitutes a breach of an Ameriquest Representation and Warranty and such breach is discovered on or after September 8, 2007, Ameriquest shall have no obligation or liability with respect to such Mortgage Loans and the only right or remedy of the Purchaser with respect to such Mortgage Loans shall be the right to enforce the Seller's obligations assumed from Ameriquest regarding the Ameriquest Representations and Warranties. Except as otherwise stated herein, the Purchaser acknowledges and agrees that the representations and warranties of the Seller in this Section 3.01 are applicable only to facts, conditions or events that do not constitute a breach of any representation or warranty made by an Originator in the related Sale and Servicing Agreement. Except as otherwise stated herein, the Seller shall have no obligation or liability with respect to any breach of a representation or warranty made by it with respect to the Mortgage Loans (other than the representations and warranties made in Sections 3.01(xi) and (xix) below) if the fact, con...
