Warranties and Representations Regarding the TPO. TPO represents, warrants and covenants to UHMC that, with respect to itself, including each office or branch operated by TPO and any of its owners, directors, officers, employees, agents, independent contractors, licensees or other personnel originating Loans under TPO's license to originate Loans and the Loans, the following are true and correct as of the date hereof and shall remain true and correct during the term of this Agreement: (a) TPO is and shall continue to be a duly organized and validly existing entity and that it is in good standing under applicable law of the state of its organization. (b) TPO is duly licensed, registered or approved to perform the activities set forth in this Agreement in the jurisdictions in which it conducts business and where the property securing a Loan is located. TPO shall maintain such licenses, registrations or approvals in good standing throughout the term of this Agreement, including any and all mortgage loan originator licenses required under state S.A.F.E. Act laws and regulations. TPO shall submit copies of all licenses, registration or approvals to UHMC upon execution of this Agreement and upon request by UHMC. (c) TPO shall immediately notify UHMC if any license, registration or approval is not renewed or is suspended, terminated or cancelled for any reason or if TPO fails to be in compliance with qualification or licensing laws of any jurisdiction where it conducts business.
Appears in 11 contracts
Samples: Third Party Origination Agreement, Third Party Origination Agreement, Third Party Origination Agreement
