Common use of REPRESENTATIONS OF THE OWNER Clause in Contracts

REPRESENTATIONS OF THE OWNER. The Owner represents, warrants and covenants to the Servicer as of the Effective Date, each relevant Cut-off Date, each relevant Closing Date and as of any date specifically provided herein: (a) The execution, delivery and performance by the Owner of this Agreement has been duly and validly authorized by all necessary corporate action. This Agreement constitutes a legal, valid and enforceable obligation of the Owner, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium, receivership or other laws relating to or affecting creditors' rights generally, and to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity), and except that the enforcement or rights with respect to indemnification and contribution obligations and provisions (i) purporting to waive or limit rights to trial by jury, oral amendments to written agreements or rights of set off or (ii) relating to submission to jurisdiction, venue or service of process, may be limited by applicable law or considerations of public policy.

REPRESENTATIONS OF THE OWNER. The Owner represents, warrants and covenants to the Servicer as of the Effective Date, each relevant Cut-off Date, each relevant Closing Date and as of any date specifically provided herein: (a) The execution, delivery and performance by the Owner of this Agreement has been duly and validly authorized by all necessary corporate action. This Agreement constitutes a legal, valid and enforceable obligation of the Owner, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium, receivership or other laws relating to or affecting creditors' ’ rights generally, and to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity), and except that the enforcement or rights with respect to indemnification and contribution obligations and provisions (i) purporting to waive or limit rights to trial by jury, oral amendments to written agreements or rights of set off or (ii) relating to submission to jurisdiction, venue or service of process, may be limited by applicable law or considerations of public policy.