Common use of Repurchase Obligations Clause in Contracts

Repurchase Obligations. (a) Each of the representations and warranties made by the Seller herein shall survive the purchase by the Depositor of the Mortgage Loans and shall continue in full force and effect, notwithstanding any restrictive or qualified endorsement on the Mortgage Notes and notwithstanding subsequent termination of this Agreement, the Trust Agreement or the Indenture. The Seller's representations and warranties shall not be impaired by any review or examination of Mortgage Loan Documents or other documents evidencing or relating to the Mortgage Loans or any failure on the part of the Depositor to review or examine such documents and shall inure to the benefit of the Issuer and the Indenture Trustee (as the assignees of the Depositor) for the benefit of the Noteholders and the Note Insurer. With respect to the representations and warranties contained herein that are made to the best of the Seller's knowledge or as to which the Seller has no knowledge, if it is discovered by either the Seller, the Depositor, or the Indenture Trustee that the substance of any such representation and warranty is inaccurate and such inaccuracy materially and adversely affects the value of the related Mortgage Loan, then notwithstanding the Seller's lack of knowledge with respect to the substance of such representation and warranty being inaccurate at the time the representation and warranty was made, the Seller shall take action in accordance with the following paragraph in respect of such Mortgage Loan.

Repurchase Obligations. (a) Each of the representations and warranties made by the Seller herein shall survive the purchase by the Depositor FAIC II of the Mortgage Loans and shall continue in full force and effect, notwithstanding any restrictive or qualified endorsement on the Mortgage Notes and notwithstanding subsequent termination of this Agreement, the Trust Agreement or the Indenture. The Seller's representations and warranties shall not be impaired by any review or examination of Mortgage Loan Documents or other documents evidencing or relating to the Mortgage Loans or any failure on the part of the Depositor FAIC II to review or examine such documents and shall inure to the benefit of the Issuer and the Indenture Trustee (as the assignees of the DepositorFAIC II) for the benefit of the Noteholders Bondholders and the Note Bond Insurer. With respect to the representations and warranties contained herein that are made to the best of the Seller's knowledge or as to which the Seller has no knowledge, if it is discovered by either the Seller, the DepositorFAIC II, or the Indenture Trustee that the substance of any such representation and warranty is inaccurate and such inaccuracy materially and adversely affects the value of the related Mortgage Loan, then notwithstanding the Seller's lack of knowledge with respect to the substance of such representation and warranty being inaccurate at the time the representation and warranty was made, the Seller shall take action in accordance with the following paragraph in respect of such Mortgage Loan.

Repurchase Obligations. (a) Each of the representations and warranties made by the Seller herein shall survive the purchase by the Depositor FAIC II of the Mortgage Loans and shall continue in full force and effect, notwithstanding any restrictive or qualified endorsement on the Mortgage Notes and notwithstanding subsequent termination of this Agreement, the Trust Agreement or the Indenture. The Seller's representations and warranties shall not be impaired by any review or examination of Mortgage Loan Documents or other documents evidencing or relating to the Mortgage Loans or any failure on the part of the Depositor FAIC II to review or examine such documents and shall inure to the benefit of the Issuer and the Indenture Trustee (as the assignees of the DepositorFAIC II) for the benefit of the Noteholders and the Note InsurerBondholders. With respect to the representations and warranties contained herein that are made to the best of the Seller's knowledge or as to which the Seller has no knowledge, if it is discovered by either the Seller, the DepositorFAIC II, or the Indenture Trustee that the substance of any such representation and warranty is inaccurate and such inaccuracy materially and adversely affects the value of the related Mortgage Loan, then notwithstanding the Seller's lack of knowledge with respect to the substance of such representation and warranty being inaccurate at the time the representation and warranty was made, the Seller shall take action in accordance with the following paragraph in respect of such Mortgage Loan.