SURVIVAL OF REPRESENTATIONS AND WARRANTIES; REPURCHASE OBLIGATIONS OF THE SELLER Sample Clauses

SURVIVAL OF REPRESENTATIONS AND WARRANTIES; REPURCHASE OBLIGATIONS OF THE SELLER. With respect to any particular Mortgage Loan, it is understood and agreed that the representations and warranties set forth in Article III hereof are continuing representations and warranties and shall inure to the benefit of the Purchaser, the Trustee and each Certificateholder (each, an "Interested Person"). The Seller hereby agrees to restate the representations and warranties set forth in Article III hereof with respect to the Mortgage Loans in the Pooling and Servicing Agreement to the Trustee, as of the Closing Date, or if so specified therein, as of the Cut-off Date and to be bound by the provisions in the Pooling and Servicing Agreement relating to the breach of any such representation and warranty. Within sixty (60) days of the Seller's discovery, or its receipt of written notice from any Interested Person or any other Person specified in Section 2.03 of the Pooling and Servicing Agreement, of the breach of any such representation and warranty set forth in Section 3.01 hereof which materially and adversely affects the value of a Mortgage Loan or Mortgage Loans or the interest of any Interested Person in any Mortgage Loan or Mortgage Loans, it shall, subject to the provisions of the next following paragraphs, cure such breach in all material respects or shall either (a) remove such Deleted Loan and substitute in its place a Replacement Loan or Loans and pay to the Purchaser or the Trustee (as assignee of the Purchaser) the amount, if any, by which the unpaid aggregate principal balance of the Replacement Loan or Loans is less than the unpaid principal balance of the Deleted Loan or (b) repurchase such Deleted Loan at the Repurchase Price. Any substitution or repurchase of a Mortgage Loan shall be accomplished in the manner provided in the Pooling and Servicing Agreement. No substitution of a Deleted Loan with a Replacement Loan or Loans shall occur at any time after the second anniversary of the Closing Date. Any repurchase or substitution shall not be effected prior to the delivery to the Trustee by the Seller of an Opinion of Counsel to the effect that such purchase or substitution will not cause (i) any federal tax to be imposed on the Trust Fund, including without limitation, any Federal tax imposed on "prohibited transactions" under Section 860F(a)(1) of the Code or on "contributions after the start-up day" under Section 860G(d)(1) of the Code or (ii) any portion of the Trust Fund to fail to qualify as a REMIC at any time that any Certificate ...
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Related to SURVIVAL OF REPRESENTATIONS AND WARRANTIES; REPURCHASE OBLIGATIONS OF THE SELLER

  • Additional Representations and Warranties of the Seller (a) The Seller shall be deemed to represent to the Purchaser and to any Depositor, as of the date on which information is first provided to the Purchaser or any Depositor under Subsection 34.03 that, except as disclosed in writing to the Purchaser or such Depositor prior to such date: (i) the Seller is not aware and has not received notice that any default, early amortization or other performance triggering event has occurred as to any other securitization due to any act or failure to act of the Seller; (ii) the Interim Servicer has not been terminated as servicer in a residential mortgage loan securitization, either due to a servicing default or to application of a servicing performance test or trigger; (iii) no material noncompliance with the applicable servicing criteria with respect to other securitizations of residential mortgage loans involving the Interim Servicer as servicer has been disclosed or reported by the Seller; (iv) no material changes to the Interim Servicer's policies or procedures with respect to the servicing function it will perform under the Interim Servicing Agreement and any Reconstitution Agreement for mortgage loans of a type similar to the Mortgage Loans have occurred during the three-year period immediately preceding the related Securitization Transaction; (v) there are no aspects of the Interim Servicer's financial condition that could have a material adverse effect on the performance by the Interim Servicer of its servicing obligations under the Interim Servicing Agreement or any Reconstitution Agreement; (vi) there are no material legal or governmental proceedings pending (or known to be contemplated) against the Seller, Interim Servicer, any Subservicer or any Third-Party Originator; and (vii) there are no affiliations, relationships or transactions relating to the Seller, Interim Servicer, any Subservicer or any Third-Party Originator with respect to any Securitization Transaction and any party thereto identified by the related Depositor of a type described in Item 1119 of Regulation AB.

  • Survival of Representations and Warranties All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.

  • Survival of Representations and Warranties and Agreements All representations and warranties of the parties contained in this Agreement shall survive the Closing and shall not be affected by any investigation made prior to the Closing.

  • Survival of Representations and Warranties; Indemnity All representations, warranties and covenants contained herein or made in writing by the Subscriber, or by the Company in connection with the transactions contemplated by this Agreement shall survive the execution and delivery of this Agreement, any investigation at any time made by or on behalf of the Company or the Subscriber, and the issue and sale of Securities. Unless the Company otherwise agrees in writing, the Subscriber shall and hereby does indemnify and hold harmless the Company from and against any and all losses, expenses, liabilities and other claims and damages relating to or arising out of any breach of any representation, warranty or covenant made by the Subscriber in this Agreement.

  • Additional Representations and Warranties of the Servicer Except as disclosed in writing to the Seller, the Master Servicer, the Depositor and the Trustee prior to the Closing Date: (i) the Servicer is not aware and has not received notice that any default, early amortization or other performance triggering event has occurred as to any other securitization due to any act or failure to act of the Servicer; (ii) the Servicer has not been terminated as servicer in a residential mortgage loan securitization, either due to a servicing default or to application of a servicing performance test or trigger; (iii) no material noncompliance with the applicable servicing criteria with respect to other securitizations of residential mortgage loans involving the Servicer as servicer has been disclosed or reported by the Servicer; (iv) no material changes to the Servicer’s policies or procedures with respect to the servicing function it will perform under this Agreement for mortgage loans of a type similar to the Mortgage Loans have occurred during the three-year period immediately preceding the Closing Date; (v) there are no aspects of the Servicer’s financial condition that could have a material adverse effect on the performance by the Servicer of its servicing obligations under this Agreement and (vi) there are no affiliations, relationships or transactions relating to the Servicer or any Subservicer with any party listed on Exhibit I hereto.

  • Survival of Representations and Warranties, Etc All representations and warranties set forth in this Article VI and all representations and warranties contained in any certificate, or any of the Loan Documents (including, but not limited to, any such representation or warranty made in or in connection with any amendment thereto) shall constitute representations and warranties made under this Agreement. All representations and warranties made under this Agreement shall be made or deemed to be made at and as of the Closing Date (except those that are expressly made as of a specific date), shall survive the Closing Date and shall not be waived by the execution and delivery of this Agreement, any investigation made by or on behalf of the Lenders or any borrowing hereunder.

  • Representations and Warranties of the Seller The Seller represents and warrants as follows:

  • Representations and Warranties of the Escrow Agent The Escrow Agent represents and warrants to American, the Investors, the Paying Agent and the Pass Through Trustee as follows:

  • Additional Representations and Warranties of the Custodian (a) The Custodian hereby represents and warrants that the information set forth under the caption "Pooling and Servicing Agreement--Custodial Arrangements" (the "Custodian Disclosure") in the preliminary prospectus supplement relating to the Certificates and the final prospectus supplement relating to the Certificates does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

  • REPRESENTATIONS AND WARRANTIES OF THE SELLERS Each of the Sellers, jointly and severally, represents and warrants to the Buyer as follows:

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