Warranties and Representations Regarding Individual Loans Sample Clauses

Warranties and Representations Regarding Individual Loans. If a Loan is closed in the name of Broker and assigned to MBM pursuant to Section 3.4(b) above, Broker, with respect to such Loan, represents, warrants and covenants to MBM that the following are true and correct as of the date MBM acquires such Loan: (a) Broker has the authority to sell, transfer and assign to MBM the Loan, the payments owing thereunder, and its security interest in the collateral securing such Loan; (b) No prior sale, pledge, assignment or hypothecation of the Loan or any portion thereof, has been made to any other individual or entity; and (c) Broker has not modified the Loan in any material respect; satisfied, canceled or subordinated the Loan in whole or in part; released the mortgaged property in whole or in part from the lien of the Loan or executed any instrument of release, cancellation, modification or satisfaction; provided, however, that this warranty shall be deemed not to have been made with respect to any matter brought to the attention of MBM prior to disbursement of the purchase price and acknowledged and approved by MBM in writing or by express mention in the related title insurance policy.
Sample 1
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Warranties and Representations Regarding Individual Loans. Broker represents, warrants and covenants to DFI that the following are true and correct with respect to each Loan as of the date DFI acquires or funds such Loan: (a) The mortgage note (the “Note”), the deed of trust or mortgage (the “Mortgage”) and assignment of mortgage or deed of trust (collectively, the “Collateral Documents”) are genuine and each is the legal, valid and binding obligation of the maker thereof, enforceable in accordance with its respective terms. The terms the Note or the Mortgage have not been impaired, waived, altered or modified in any respect, except by written instruments which have been disclosed to, and approved by, DFI Funding in writing and which have been, or will be recorded if necessary to protect the interests of DFI; (b) The Loan and the related Collateral Documents comply in all respects with the terms and conditions of this Agreement; (c) All representations and warranties made by Broker and all information contained in any documents submitted by Broker to DFI with respect to the Loan are true and correct in all material respects; (d) This section has been intentionally deleted. (e) This section has been intentionally deleted. (f) This section has been intentionally deleted. (g) The Loan is a valid first lien (as applicable for the Loan Program under which the Loan was delivered) on the property that secures the Loan (the “Mortgaged Property”), and the Mortgaged Property is free and clear of all encumbrances and liens having priority over the lien of such Loan, subject to (i) the approved first lien, if any (cross collateral), (ii) the lien of current real property taxes and assessments not yet due and payable, (iii) covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording being acceptable to mortgage lending institutions generally and specifically referred to in the lender's title insurance policy delivered to the originator of the Loan and which do not adversely affect the appraised value of the Mortgaged Property, and (iv) other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by the Mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property. No Mortgagor has been released, in whole or in part, from the obligations set forth in the Note or Mortgage; (h) This section has been intentionally deleted. (i) All applicable fe...
Sample 1

Related to Warranties and Representations Regarding Individual Loans

  • Representations and Warranties Regarding Individual Mortgage Loans The Seller hereby represents and warrants to the Purchaser that, as to each Mortgage Loan, as of the related Closing Date for such Mortgage Loan:

  • Contractor Commitments, Warranties and Representations Any written commitment received from the Contractor concerning this Agreement shall be binding upon the Contractor, unless otherwise specifically provided herein with reference to this paragraph. Failure of the Contractor to fulfill such a commitment shall render the Contractor liable for damages to the County. A commitment includes, but is not limited to any representation made prior to execution of this Agreement, whether or not incorporated elsewhere herein by reference, as to performance of services or equipment, prices or options for future acquisition to remain in effect for a fixed period, or warranties.

  • Representations and Warranties Regarding Each Contract Seller represents and warrants as to each Contract as of the execution and delivery of this Agreement and as of the Closing Date, that:

  • Warranties and Representations 9.3.1 The Supplier warrants and represents that:- (a) it has full capacity and authority and all necessary consents (including where its procedures so require, the consent of its Parent Company) to enter into and perform its obligations under the Contract; (b) the Contract is executed by a duly authorised representative of the Supplier; (c) in entering the Contract it has not committed any Fraud; (d) as at the Commencement Date, all information, statements and representations contained in the Tender for the Services are true, accurate and not misleading save as may have been specifically disclosed in writing to the Authority prior to execution of the Contract and it will advise the Authority of any fact, matter or circumstance of which it may become aware which would render any such information, statement or representation to be false or misleading; (e) no claim is being asserted and no litigation, arbitration or administrative proceeding is presently in progress or, to the best of its knowledge and belief, pending or threatened against it or its assets which will or might affect its ability to perform its obligations under the Contract; (f) it is not subject to any contractual obligation, compliance with which is likely to have an adverse effect on its ability to perform its obligations under the Contract; (g) no proceedings or other steps have been taken and not discharged (nor, to the best of its knowledge, are threatened) for the winding up of the Supplier or for its dissolution or for the appointment of a receiver, administrative receiver, liquidator, manager, administrator or similar officer in relation to any of the Supplier’s assets or revenue; (h) it owns, has obtained or is able to obtain valid licences for all Intellectual Property Rights that are necessary for the performance of its obligations under the Contract; (i) the Services shall be provided and carried out by appropriately experienced, qualified and trained Staff with all due skill, care and diligence; (j) in the three (3) years prior to the date of the Contract: (i) it has conducted all financial accounting and reporting activities in compliance in all material respects with the generally accepted accounting principles that apply to it in any country where it files accounts; (ii) it has been in full compliance with all applicable securities and tax laws and regulations in the jurisdiction in which it is established; and (k) it has not done or omitted to do anything which could have an adverse effect on its assets, financial condition or position as an ongoing business concern or its ability to fulfil its obligations under the Contract.

  • Seller’s Warranties and Representations The matters set forth in this Section 11.1 constitute representations and warranties by Seller which are now and (subject to matters contained in any notice given pursuant to the next succeeding sentence) shall, in all material respects, at the Closing be true and correct. If Seller learns of, or has a reason to believe that any of the representations and warranties contained in this Article 11 may cease to be true and correct, Seller shall give prompt notice to Purchaser (which notice shall include copies of the instrument, correspondence, or document, if any, upon which Seller’s notice is based) and, in such event, Purchaser may terminate this Agreement, upon written notice to Seller, without recourse against Seller; provided, however; Seller cannot act voluntary in a manner which would cause a representation and warranty to become materially incorrect or inaccurate. As used in this Section 11.1, the phrase “to the extent of Seller’s actual knowledge” shall mean the actual current knowledge of Xxxx Xxxxxxx, with respect to water and sewage issues only, Xxxxxx Xxxxxx, Xxxx Xxxxxxxxx, Xxxx Xxxxxx, Xxx Xxxxxxxx and Xxxxx Xxxxxx whom Seller represents to be the representatives of Seller having the responsibility for the management and sale of the Golf Course and accordingly the individuals responsible for being informed of matters relevant to this Agreement. There shall be no duty imposed or implied to investigate, inspect, or audit any such matters, and there shall be no imputed or personal liability on the part of such individuals. To the extent Purchaser has or acquires actual knowledge prior to the Closing Date that these representations and warranties are inaccurate, untrue or incorrect in any way, Purchaser may proceed to Closing without reduction in the Purchase Price and without recourse against Seller for such misrepresentation, in which even such representation or warranties shall be deemed modified to reflect Purchaser’s actual knowledge.

  • WARRANTIES AND REPRESENTATION 34.1 Neither of the Parties will be bound by any express or implied term, representation, warranty, promise or the like, not recorded herein.

  • Representations and Warranties of Contractor Contractor represents and warrants to Company the following:

  • GENERAL WARRANTIES AND REPRESENTATIONS The Borrower warrants and represents to the Agent and the Lenders that except as hereafter disclosed to and accepted by the Agent and the Majority Lenders in writing:

  • Covenants, Warranties and Representations Each of the parties covenants, warrants and represents for itself as follows:

  • REPRESENTATIONS AND WARRANTIES OF CONTRIBUTOR The Contributor represents and warrants to and covenants with the Operating Partnership as provided in EXHIBIT E attached hereto, and acknowledges and agrees to be bound by the indemnification provisions contained therein.

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