Common use of Eligible Loan Clause in Contracts

Eligible Loan. To the best of the Company’s knowledge, on the Effective Date, each Purchased Loan transferred to the Trust that is included in the calculation of the initial Aggregate Loan Amount is an Eligible Loan and, in the case of Purchased Loans transferred to the Trust after the Effective Date, on the related Loan Purchase Date, each such Purchased Loan that is included in the calculation of the Aggregate Loan Amount on such related Loan Purchase Date is an Eligible Loan.

Eligible Loan. To the best of the Company’s 's knowledge, on the Effective Date, each Purchased Loan transferred to the Trust that is included in the calculation of the initial Aggregate Loan Amount is an Eligible Loan and, in the case of Purchased Loans transferred to the Trust after the Effective Date, on the related Loan Purchase Date, each such Purchased Loan that is included in the calculation of the Aggregate Loan Amount on such related Loan Purchase Date is an Eligible Loan.