Common use of Servicer’s Representations and Warranties Clause in Contracts

Servicer’s Representations and Warranties. The Servicer represents and warrants the following to the Holder: (a) The Servicer is duly organized and qualified to do business in each jurisdiction in which qualification is required for the activities contemplated by this Servicing Agreement. The execution and performance of this Servicing Agreement has been duly authorized by all necessary action and does not and will not contravene any provision of law, rule or regulation applicable to the Servicer. (b) This Servicing Agreement constitutes a legal, valid and binding obligation of the Servicer enforceable in accordance with its terms subject to bankruptcy, insolvency and other similar laws affecting creditors’ rights generally and subject to equitable principles.

Servicer’s Representations and Warranties. The Servicer represents and warrants the following to the HolderBank: (a) The Servicer is duly organized and qualified to do business in each jurisdiction in which qualification is required for the activities contemplated by this Servicing Agreement. The execution and performance of this Servicing Agreement has been duly authorized by all necessary action and does not and will not contravene any provision of law, rule or regulation applicable to the Servicer. The Servicer is eligible under the Act and the Regulations to service the Loans. (b) This Servicing Agreement constitutes a legal, valid and binding obligation of the Servicer enforceable in accordance with its terms subject to bankruptcy, insolvency and other similar laws affecting creditors’ rights generally and subject to equitable principles.