Common use of Discretionary Mortgage Loans Clause in Contracts

Discretionary Mortgage Loans. At least three (3) Business Days prior to a Funding Date, the Borrowers shall have provided to the Agent a certification as to the reason why a Discretionary Mortgage Loan has not been previously disposed of by the Borrowers and the Agent shall have approved of the inclusion of such Discretionary Mortgage Loan in the Mortgage Loan Schedule and Exception Report to be pledged hereunder on such Funding Date. Each request for a borrowing under this Loan Agreement shall constitute a certification by the Borrowers that all of the conditions set forth in this Article V (other than Sections 5.02(h) and (i)) have been satisfied (both as of the date of such request and as of the date of borrowing).

Discretionary Mortgage Loans. At least three (3) Business Days prior to a Funding Date, the Borrowers shall have provided to the Agent Lender a certification as to the reason why a Discretionary Mortgage Loan has not been previously disposed of by the Borrowers and the Agent Lender shall have approved of the inclusion of such Discretionary Mortgage Loan in the Mortgage Loan Schedule and Exception Report to be pledged hereunder on such Funding Date. Each request for a borrowing under this Loan Agreement by the Borrowers hereunder shall constitute a certification by the Borrowers that all of the conditions set forth in this Article V (other than Sections 5.02(h5.2(h) and (i)) have been satisfied (both as of the date of such notice, request or confirmation and as of the date of such borrowing).