Common use of Offering Memoranda Clause in Contracts

Offering Memoranda. Each of the Fund PPMs, ARCap 2003-1 Resecuritization Trust Offering Memorandum, ARCap 2004-1 Resecuritization Trust Offering Memorandum, ARCap 2005-1 Resecuritization Trust Offering Memorandum, ARCap 2004-RR3 Resecuritization Trust Offering Memorandum, ARCap 2005-RR5 Resecuritization Trust Offering Memorandum and ARCap 2006-RR7 Resecuritization Trust Offering Memorandum, together, in each case, with any supplements thereto, in each case when read together with the related Final Fund Documents in their entirety, did not, as of their respective dates, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.

Offering Memoranda. Each of the Fund PPMs, ARCap 2003-1 Resecuritization Trust Offering Memorandum, ARCap 2004-1 Resecuritization Trust Offering Memorandum, ARCap 2005-1 Resecuritization Trust Offering Memorandum, ARCap 2004-ARCAP 2004 RR3 Resecuritization Trust Offering Memorandum, ARCap 2005-ARCAP 2005 RR5 Resecuritization Trust Offering Memorandum and Memorandum, ARCap 2006-RR7 Resecuritization Trust Offering Memorandum, ARCap 2007-1 Resecuritization Trust Offering Memorandum and the ▇▇▇▇▇ 2008-1 CDO, together, in each case, with any supplements thereto, in each case when read together with with, and as updated by, the related Final Fund Documents in their entirety, did not, as of their respective dates, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.