Common use of True Sales Clause in Contracts

True Sales. For each Purchased Asset with respect to which the originator, issuer or prior owner is an Affiliate of Seller, any and all interest of such originator, issuer or prior owner has been sold, transferred, conveyed and assigned to Seller pursuant to a legal and true sale and such originator, issuer or prior owner retains no interest in such Purchased Asset, and if so requested by Buyer, such sale is covered by an opinion of counsel to that effect in form and substance acceptable to Buyer.

Appears in 5 contracts

Samples: Master Repurchase Agreement (UWM Holdings Corp), Master Repurchase Agreement (Caliber Home Loans, Inc.), Master Repurchase Agreement (Five Oaks Investment Corp.)

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True Sales. For each Purchased Underlying Asset with respect to which the originator, issuer or prior owner is an Affiliate of SellerGuarantor, any and all interest of such originator, issuer or prior owner has been sold, transferred, conveyed and assigned to Seller Guarantor pursuant to a legal and true sale and such originator, issuer or prior owner retains no interest in such Purchased Underlying Asset, and if so requested by Buyer, such sale is covered by an opinion of counsel to that effect in form and substance acceptable to Buyer.

Appears in 2 contracts

Samples: Master Repurchase Agreement (Guild Holdings Co), Master Repurchase Agreement (Mr. Cooper Group Inc.)

True Sales. For each Purchased Asset with respect to which the originator, issuer originator or prior owner is an Affiliate of Seller, any and all interest of such originator, issuer originator or prior owner has been sold, transferred, conveyed and assigned to Seller pursuant to a legal and true sale and such originator, issuer originator or prior owner retains no interest in such Purchased Asset, and if so requested by Buyer, such sale is covered by an opinion of counsel to that effect in form and substance acceptable to Buyer.

Appears in 1 contract

Samples: Master Repurchase Agreement (Nationstar Mortgage Holdings Inc.)

True Sales. For each Purchased Asset with respect to which the originator, issuer or prior owner is an Affiliate of Seller, any and all interest of such originator, issuer or prior owner has been sold, transferred, conveyed and assigned to Seller pursuant to a legal and true sale and such originator, issuer or prior owner retains no interest in such Purchased Asset, and if so requested by Buyer, such sale is covered by an opinion of counsel to that effect in form and substance acceptable to Buyer.

Appears in 1 contract

Samples: Master Repurchase Agreement (Rocket Companies, Inc.)

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True Sales. For each Purchased Asset with respect to which the originator, issuer or prior owner is an Affiliate of Seller, any and all interest of such originator, issuer or prior owner has been sold, transferred, conveyed and assigned to Seller pursuant to a legal and true sale and such originator, issuer or prior owner retains no interest in such Purchased Asset, and if so requested by Buyer, such sale is covered by an opinion of counsel or such other documentation to that effect in form and substance acceptable to Buyer.

Appears in 1 contract

Samples: Master Repurchase Agreement (AmeriHome, Inc.)

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