Co-op Loan. Compliance with Law. With respect to each Co-op Loan, the related Co-op Corporation that owns title to the related Co-op Project is a “cooperative housing corporation” within the meaning of Section 216 of the Internal Revenue Code, and is in material compliance with applicable federal, state and local laws which, if not complied with, could have a material adverse effect on the Mortgaged Property.
Appears in 7 contracts
Samples: Master Repurchase Agreement (Home Point Capital Inc.), Master Repurchase Agreement (Home Point Capital Inc.), Master Repurchase Agreement (Home Point Capital Inc.)
Co-op Loan. Compliance with Law. With respect to each Co-op Loan, the related Co-op Corporation that owns title to the related Co-op Project is a “cooperative housing corporation” within the meaning of Section 216 of the Internal Revenue Code, and is otherwise meet the requirements for cooperative loans set forth in material compliance with applicable federal, state and local laws which, if not complied with, could have a material adverse effect on the Mortgaged PropertyXxxxxx Xxx Selling Guide.
Appears in 1 contract
Samples: Master Repurchase Agreement (Rocket Companies, Inc.)
