Common use of Legal Proceeding Clause in Contracts

Legal Proceeding. There is no action, proceeding or investigation by or before any court, governmental or administrative agency or arbitrator affecting any of the Purchased Loans, Seller, or, to Seller’s knowledge, Servicers or any of their Affiliates, pending or threatened, which is reasonably likely to be adversely determined and which, if decided adversely, would have a reasonable likelihood of having a Material Adverse Effect with respect to Seller or Servicers.

Appears in 2 contracts

Samples: Master Repurchase Agreement (ECC Capital CORP), Master Repurchase Agreement (ECC Capital CORP)

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Legal Proceeding. There is no action, proceeding or investigation by or before any court, governmental or administrative agency or arbitrator affecting any of the Purchased Loans, Seller, or, to Seller’s knowledge, Servicers Seller or any of their its Affiliates, pending or to its knowledge, threatened, which is reasonably likely to be adversely determined and which, if decided adversely, would have a reasonable likelihood of having a Material Adverse Effect with respect to Seller or ServicersSeller.

Appears in 1 contract

Samples: Master Repurchase Agreement (Taberna Realty Finance Trust)

Legal Proceeding. There is no action, proceeding or investigation by or before any court, governmental or administrative agency or arbitrator affecting any of the Purchased Loans, Seller, or, to Seller’s knowledge, Servicers Servicer or any of their Affiliates, pending or threatened, which is reasonably likely to be adversely determined and which, if decided adversely, would have a reasonable likelihood of having a Material Adverse Effect with respect to Seller or ServicersServicer.

Appears in 1 contract

Samples: Master Repurchase Agreement (ECC Capital CORP)

Legal Proceeding. There is no action, proceeding or investigation by or before any court, governmental or administrative agency or arbitrator affecting any of the Purchased Loans, Seller, orGuarantor, to Seller’s knowledge, Servicers Servicer or any of their Affiliates, pending or threatened, which is reasonably likely to be adversely determined and which, if decided adversely, would have a reasonable likelihood of having a Material Adverse Effect with respect to Seller Seller, Guarantor or ServicersServicer.

Appears in 1 contract

Samples: Master Repurchase Agreement (New Century Financial Corp)

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Legal Proceeding. There To the best knowledge of the Seller, there is no action, proceeding or investigation by or before any court, governmental or administrative agency or arbitrator affecting any of the Purchased Loans, Seller, or, to Seller’s knowledge, Servicers Mortgage Loans or Seller or any of their its Affiliates, pending or threatenedthreatened in writing, which is reasonably likely to be adversely determined and which, if decided adversely, would have a reasonable likelihood of having a Material Adverse Effect with respect to Seller or ServicersEffect.

Appears in 1 contract

Samples: Master Repurchase Agreement and Securities Contract (Korth Direct Mortgage Inc.)

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