Common use of Securities Acts Clause in Contracts

Securities Acts. Neither CWM, Indy Mac nor ILC has issued any --------------- unregistered securities in violation of the registration requirements of Section 5 of the Securities Act of 1933, as amended, or any other existing applicable law, and each of such Persons is in compliance, in all material respects, with all existing applicable rules, regulations and requirements under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. Neither CWM, Indy Mac nor ILC is required to qualify an indenture under the Trust Indenture Act of 1939, as amended, in connection with such Person's execution and delivery of the Notes.