Common use of Offering by Underwriter Clause in Contracts

Offering by Underwriter. 4.1 It is understood that you propose to offer the Notes for sale to the public as set forth in the Prospectus and you agree that all such offers and sales by you shall be made in compliance with all applicable laws and regulations. Prior to the date of the first Contract of Sale made based on the Approved Offering Materials, you have not pledged, sold, disposed of or otherwise transferred any Note, Mortgage Loans or any interest in any Note.

Offering by Underwriter. 4.1 It is understood that you propose the Underwriter proposes to offer the Notes for sale to the public as set forth in the Prospectus and you agree the Underwriter agrees that all such offers and sales by you shall be made in compliance with all applicable laws and regulations. Prior to the date of the first Contract of Sale made based on the Approved Offering Materials, you have not pledged, sold, disposed of or otherwise transferred any Note, Mortgage Loans or any interest in any Note.