Prior Assignments; Pledges Clause Samples
Prior Assignments; Pledges. Except for the sale to the Assignee, the Assignor has not assigned or pledged any Mortgage Note or the related Mortgage or any interest or participation therein.
Prior Assignments; Pledges. Except for the sale to the Assignee, the Depositor has not assigned or pledged any Mortgage Note or the related Mortgage or any interest or participation therein. Releases. The Depositor has not satisfied, canceled, or subordinated in whole or in part, or rescinded any Mortgage, and the Depositor has not released any Mortgaged Property from the lien of the related Mortgage, in whole or in part, nor has the Depositor executed an instrument that would effect any such release, cancellation, subordination, or rescission. It is understood and agreed that the representations and warranties set forth in this Section 5 shall survive delivery of the respective Mortgage Files to the Custodian and shall inure to the benefit of the Assignee and its assigns notwithstanding any restrictive or qualified endorsement or assignment. Upon the discovery by the Depositor, the Master Servicer or the Trustee of a breach of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice thereof to the other parties to this Agreement, and in no event later than two (2) Business Days from the date of such discovery. It is understood and agreed that the obligations of the Depositor set forth in Section 6 to repurchase a Mortgage Loan constitute the sole remedies available to the Assignee and its assigns on their behalf respecting a breach of the representations and warranties contained in this Section 5. It is understood and agreed that the Depositor has made no representations or warranties to the Assignee other than those contained in this Section 5, and no other affiliate of the Depositor has made any representations or warranties of any kind to the Assignee.