Common use of No Outstanding Charges Clause in Contracts

No Outstanding Charges. There are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date. Neither WMC Mortgage Corp. nor any Affiliate has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except as set forth on the Mortgage Loan Schedule, to the Seller's knowledge as of the Servicing Transfer Date there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateMortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as payable. As of the Cut-off Date, and to closing date for the knowledge of WMC Mortgage Corp. and its Affiliates as of securitization (the "Securitization Closing Date. Neither WMC Mortgage Corp. nor any Affiliate "), the Seller has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There are no defaults in complying with the terms of the Mortgage as of securing the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateLoan, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as payable. Except for (A) payments in the nature of escrow payments and (B) interest accruing from the date of the Cut-off DateMortgage Note or date of disbursement of the Mortgage proceeds, and whichever is greater to the knowledge of WMC Mortgage Corp. and its Affiliates as day which precedes by one month the Due Date of the Closing Date. Neither WMC Mortgage Corp. nor any Affiliate first installment of principal and interest, including, without limitation, taxes and insurance payments, Seller has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except as set forth on the Mortgage Loan Schedule delivered to the Purchaser by the Company on the Servicing Transfer Date, to the Company's knowledge as of the Servicing Transfer Date there are no defaults in complying with the terms of the Mortgage as of securing the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateLoan, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as payable. As of the Cut-off closing date for the Securitization Transaction (the "Securitization Closing Date"), except for (A) payments in the nature of escrow payments and (B) interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier to the knowledge of WMC Mortgage Corp. and its Affiliates as day which precedes by one month the Due Date of the Closing Date. Neither WMC Mortgage Corp. nor any Affiliate first installment of principal and/or interest, including, without limitation, taxes and insurance payments, the Company has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateMortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as payable. Except for (A) payments in the nature of escrow payments and (B) interest accruing from the date of the Cut-off DateMortgage Note or date of disbursement of the Mortgage proceeds, and whichever is greater to the knowledge of WMC Mortgage Corp. and its Affiliates as day which precedes by one month the Due Date of the Closing Date. Neither WMC Mortgage Corp. nor any Affiliate first installment of principal and interest, including, without limitation, taxes and insurance payments, the Seller has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Other than delinquencies in payment of principal or interest in respect of the 30+ Delinquent Mortgage Loans, 60+ Delinquent Mortgage Loans and Defaulted Mortgage Loans, there are no defaults in complying with the terms of the Mortgage as of securing the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date, and all Loan. All taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of payable. No Borrower nor the Cut-off Date, and to Qualified Originator from which any Borrower acquired the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date. Neither WMC Mortgage Corp. nor any Affiliate Loan has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the proceeds of the Mortgage Loan proceedsLoan, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;interest thereunder.

No Outstanding Charges. There Except with respect to Accredited Mortgage Loans representing approximately 0.74% of the Accredited Mortgage Loans (by Cut-off Date Pool Principal Balance), as of the Cut-off Date, and to Accredited's knowledge as of the Securitization Closing Date, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateMortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Datepayable. Neither WMC Mortgage Corp. nor any Affiliate Accredited has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except with respect to Accredited Mortgage Loans representing approximately 0.539% of the aggregate principal balance of Accredited Mortgage Loans as of the Cut-off Date, as of the Cut-off Date, and to Accredited's knowledge as of the Securitization Closing Date, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateMortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Datepayable. Neither WMC Mortgage Corp. nor any Affiliate Accredited has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except with respect to Accredited Mortgage Loans representing approximately 0.78% of the aggregate principal balance of the Accredited Mortgage Loans as of the Cut-off Date, as of the Cut-off Date, and to Accredited's knowledge as of the Closing Date, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateMortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Datepayable. Neither WMC Mortgage Corp. nor any Affiliate Accredited has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except with respect to Mortgage Loans representing approximately 0.58% of the Mortgage Loans (by Cut-off Date Pool Principal Balance), each of which are 30 or more days (but less than 60 days) delinquent, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date. Neither WMC Mortgage Corp. nor any Affiliate has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except with respect to Accredited Mortgage Loans representing approximately 0.51% of the aggregate principal balance of Accredited Mortgage Loans as of the Cut-off Date, as of the Cut-off Date, and to Accredited's knowledge as of the Securitization Closing Date, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateMortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Datepayable. Neither WMC Mortgage Corp. nor any Affiliate Accredited has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except with respect to Mortgage Loans representing approximately 0.41% of the Mortgage Loans (by Cut-off Date Pool Principal Balance), each of which are 30 or more days (but less than 60 days) delinquent, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date. Neither WMC Mortgage Corp. nor any Affiliate has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except with respect to Accredited Mortgage Loans representing approximately 4.48% of the aggregate principal balance of Accredited Mortgage Loans as of the Cut-off Date, as of the Cut-off Date, and to Accredited's knowledge as of the Securitization Closing Date, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateMortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Datepayable. Neither WMC Mortgage Corp. nor any Affiliate Accredited has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except in the case of a Defaulted Loan, there are no defaults in complying with the terms of the Mortgage as of securing the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateLoan, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Datepayable. Neither WMC the Borrower nor the originator from which the Borrower acquired the Mortgage Corp. nor any Affiliate Loan has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the proceeds of the Mortgage Loan proceedsLoan, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;interest thereunder.

No Outstanding Charges. There Other than delinquencies in payment of principal or interest in respect of the 30+ Delinquent Mortgage Loans, 60+ Delinquent Mortgage Loans and Defaulted Mortgage Loans, there are no defaults in complying with the terms of the Mortgage as of securing the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date, and all Loan. All taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Datepayable. Neither WMC the Borrower nor the Qualified Originator from which the Borrower acquired the Mortgage Corp. nor any Affiliate Loan has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the proceeds of the Mortgage Loan proceedsLoan, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;interest thereunder.

No Outstanding Charges. There Except with respect to Accredited Mortgage Loans representing approximately 0.47% of the aggregate principal balance of Accredited Mortgage Loans as of the Cut-off Date, as of the Cut-off Date, and to Accredited's knowledge as of the Securitization Closing Date, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateMortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Datepayable. Neither WMC Mortgage Corp. nor any Affiliate Accredited has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There are no defaults in complying with the terms of the Mortgage as of securing the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateLoan, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents applicable to the Mortgaged Property which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as if required. Except for (A) payments in the nature of escrow payments and (B) interest accruing from the date of the Cut-off DateMortgage Note or date of disbursement of the Mortgage proceeds, and whichever is earlier, to the knowledge of WMC Mortgage Corp. and its Affiliates as day which precedes by one month the Due Date of the Closing Date. Neither WMC Mortgage Corp. nor any Affiliate first installment of principal and interest, including, without limitation, taxes and insurance payments, Seller has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except with respect to Mortgage Loans representing approximately 0.32% of the Mortgage Loans (by Cut-off Date Pool Principal Balance), each of which are 30 or more days (but less than 60 days) delinquent, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date. Neither WMC Mortgage Corp. nor any Affiliate has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except with respect to Mortgage Loans representing approximately 0.40% of the Mortgage Loans (by Cut-off Date Pool Principal Balance), each of which are 30 or more days (but less than 60 days) delinquent, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Date. Neither WMC Mortgage Corp. nor any Affiliate has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except with respect to WMC Mortgage Loans representing approximately 0.42% of the aggregate principal balance of WMC Mortgage Loans as of the Cut-off Date, as of the applicable Servicing Transfer Date with respect to each Mortgage Loan, there are no defaults in complying with the terms of the Mortgage as of the Cut-off DateMortgage, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Dateapplicable Servicing Transfer Date with respect to each Mortgage Loan, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Dateapplicable Servicing Transfer Date with respect to each Mortgage Loan, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Dateapplicable Servicing Transfer Date with respect to each Mortgage Loan. Neither WMC Mortgage Corp. nor any Affiliate has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There As of the applicable Servicing Transfer Date with respect to each Mortgage Loan, there are no defaults in complying with the terms of the Mortgage as of the Cut-off DateMortgage, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Dateapplicable Servicing Transfer Date with respect to each Mortgage Loan, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Dateapplicable Servicing Transfer Date with respect to each Mortgage Loan, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Dateapplicable Servicing Transfer Date with respect to each Mortgage Loan. Neither WMC Mortgage Corp. nor any Affiliate has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;

No Outstanding Charges. There Except with respect to Accredited Mortgage Loans representing approximately 0.53% of the aggregate principal balance of Accredited Mortgage Loans as of the Cut-off Date, as of the Cut-off Date, and to Accredited's knowledge as of the Securitization Closing Date, there are no defaults in complying with the terms of the Mortgage as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing DateMortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable as of the Cut-off Date, and to the knowledge of WMC Mortgage Corp. and its Affiliates as of the Closing Datepayable. Neither WMC Mortgage Corp. nor any Affiliate Accredited has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest;