Common use of Selling PFI’s Representations, Warranties and Covenants Clause in Contracts

Selling PFI’s Representations, Warranties and Covenants. As of the Sale Date for each Serviced Mortgage, the Selling PFI represents and warrants with respect to such Mortgage that it has complied with all applicable requirements of the MPF Guides, the Selling PFI Agreement, the Servicing Sale Manual, this Agreement and Applicable Law, and the Selling PFI covenants to continue to comply with all such requirements until the Serviced Mortgage is paid off or otherwise liquidated. In addition, the Selling PFI represents and warrants as of the Sale Date with respect to the Servicing Rights for such Serviced Mortgage that: (i) the Selling PFI is the sole and lawful owner of the Servicing Rights; (ii) the Selling PFI has the full right and power to transfer the Servicing Rights to Colonial; (iii) except for the Selling PFI Agreement and this Agreement, the Servicing Rights are not subject to any contract or other agreement of the Selling PFI; (iv) the Concurrent Sale MC remains in full force and effect; and (v) the Selling PFI Agreement remains in full force and effect.