Representations and Warranties Regarding the Master Servicer. The Master Servicer represents and warrants to the Issuer and for the benefit of the Indenture Trustee, as pledgee of the Mortgage Loans and the Bondholders, as of the Cut-off Date and the Closing Date, that:
(i) The Master Servicer is a corporation duly organized, validly existing and in good standing under the laws of the State of California and has the corporate power to own its assets and to transact the business in which it is currently engaged. The Master Servicer is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or leased by it requires such qualification and in which the failure to so qualify would have a material adverse effect on the business, properties, assets, or condition (financial or other) of the Master Servicer or the validity or enforceability of the Mortgage Loans;
(ii) The Master Servicer has the power and authority to make, execute, deliver and perform this Servicing Agreement and all of the transactions contemplated under this Servicing Agreement, and has taken all necessary corporate action to authorize the execution, delivery and performance of this Servicing Agreement. When executed and delivered, this Servicing Agreement will constitute the legal, valid and binding obligation of the Master Servicer enforceable in accordance with its terms, except as enforcement of such terms may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors' rights generally and by the availability of equitable remedies;
(iii) The Master Servicer is not required to obtain the consent of any other Person or any consent, license, approval or authorization from, or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Servicing Agreement, except for such consent, license, approval or authorization, or registration or declaration, as shall have been obtained or filed, as the case may be;
(iv) The execution and delivery of this Servicing Agreement and the performance of the transactions contemplated hereby by the Master Servicer will not violate any provision of any existing law or regulation or any order or decree of any court applicable to the Master Servicer or any provision of the certificate of incorporation or bylaws of the Master Servicer, or constitute a material breach of ...
Representations and Warranties Regarding the Master Servicer. 4 Section 2.02 EXISTENCE.........................................................................5 Section 2.03 ENFORCEMENT OF REPRESENTATIONS AND WARRANTIES.....................................5 ARTICLE III
Representations and Warranties Regarding the Master Servicer. 3 Section 2.02 Existence................................................................................4 Section 2.03 Enforcement of Representations and Warranties............................................4
Representations and Warranties Regarding the Master Servicer. 3 Section 2.02. EXISTENCE............................................................................4 Section 2.03. ENFORCEMENT OF REPRESENTATIONS AND WARRANTIES........................................4 ARTICLE III Administration and Servicing of Mortgage Loans
Representations and Warranties Regarding the Master Servicer. The Master Servicer represents and warrants that, as of the Closing Date:
(i) The Master Servicer is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and is in compliance with the laws of each state in which any Mortgaged Property is located and is in good standing in each jurisdiction in which the nature of its business, or the properties owned or leased by it make such qualification necessary. The Master Servicer has, and had at all relevant times, full corporate power, to own its property, to carry on its business as presently conducted and to enter into and perform its obligations under this Agreement and each Sub-Servicing Agreement.
(ii) The execution and delivery of this Agreement and each Sub-Servicing Agreement by the Master Servicer and the performance by the Master Servicer of and compliance with the terms of this Agreement and each Sub-Servicing Agreement will not violate the Master Servicer's articles of incorporation or by-laws or constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) under, or result in the breach or acceleration of, any material contract, agreement or other instrument to which the Master Servicer is a party or which may be applicable to the Master Servicer or any of its assets;
(iii) The Master Servicer has the full power and authority to enter into and consummate all transactions contemplated by this Agreement and each Sub-Servicing Agreement to be consummated by it, has duly authorized the execution, delivery and performance of this Agreement and each Sub-Servicing Agreement, and has duly executed and delivered this Agreement and each Sub-Servicing Agreement. This Agreement and each Sub-Servicing Agreement, assuming due authorization, execution and delivery by the other parties hereto and thereto, constitutes a valid, legal and binding obligation of the Master Servicer, enforceable against it in accordance with the terms hereof and thereof, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other similar laws relating to or affecting the rights of creditors generally, and by general equity principles (regardless of whether such enforcement is considered in a proceeding in equity or at law);
(iv) The Master Servicer is not in violation of, and the execution and delivery of this Agreement and each Sub-Servicing Agreement by the Master Servicer and the pe...
Representations and Warranties Regarding the Master Servicer. Existence Section 2.03 Enforcement of Representations and Warranties
Representations and Warranties Regarding the Master Servicer. 3 Section 2.02.
Representations and Warranties Regarding the Master Servicer. 3 -------- Section 2.02. Representations and Warranties of the 1996-RHS4 LLC....
Representations and Warranties Regarding the Master Servicer. Section 2.02.Representations and Warranties of the Issuer....
Representations and Warranties Regarding the Master Servicer. The Master Servicer represents and warrants to the Trustee and the Certificateholders as of the Closing Date that:
(i) The Master Servicer is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has the corporate power to own its assets and to transact the business in which it is currently engaged. The Master Servicer is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or leased by it or the performance of its obligations hereunder requires such qualification and in which the failure so to qualify would have a material adverse effect on the business, properties, assets, or condition (financial or other) of the Master Servicer or the performance of its obligations hereunder;
(ii) The Master Servicer has the power and authority to make, execute, deliver and perform its obligations under this Agreement and all of the transactions contemplated under this Agreement, and has taken all necessary corporate action to authorize the execution and delivery of this Agreement and the performance by it of its obligations
