Proceeds of Mortgage Loan. The proceeds of the Mortgage Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or any Affiliate or correspondent of Seller, except in connection with a refinanced Mortgage Loan.
Proceeds of Mortgage Loan. The proceeds of the Mortgage Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or any Affiliate or correspondent thereof unless such debt was originated more than 12 months prior to the origination of such Mortgage Loan;
Proceeds of Mortgage Loan. The Mortgagor covenants and agrees that:
Proceeds of Mortgage Loan. Except with respect to a HELOC, the proceeds of the Mortgage Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or any Affiliate or correspondent of Seller, except in connection with a refinanced Mortgage Loan.
Proceeds of Mortgage Loan. The proceeds of the Mortgage Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or any Affiliate or correspondent of Seller, except in connection with a refinanced Mortgage Loan; provided, however, that other than with respect to FHA Loans and VA Loans originated in accordance with their respective guidelines, no such refinanced Mortgage Loan shall have been originated pursuant to a streamlined mortgage loan refinancing program.
Proceeds of Mortgage Loan. The proceeds of the Underlying Mortgage Loan have not been and shall not be used by the related Seller or the related Servicer to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or Servicer or any Affiliate thereof or correspondent of the related Seller or the related Servicer, except in connection with a refinanced Underlying Mortgage Loan.
Proceeds of Mortgage Loan. To the best of the Borrower's knowledge, the proceeds of such Pledged Eligible Asset have not been and shall not be applied to satisfy, in whole or in part, any debt owing by the related mortgagor/borrower to an Affiliate of the Borrower with respect to the origination of such Pledged Eligible Asset whereby such Affiliate has taken or will take (i) a discounted pay-off of such debt in connection with such application, or (ii) a subordinated lien on any property securing such debt or an equity interest in the related mortgagor in connection with such application unless, in any such case, such fact is disclosed in the list of exceptions included in the related Commercial Loan/Asset File.
Proceeds of Mortgage Loan. The proceeds of the Mortgage Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or any Affiliate or correspondent of any Seller, except in connection with a refinanced Mortgage Loan; provided, however, that no such refinanced Mortgage Loan shall have been originated pursuant to a streamlined mortgage loan refinancing program.
Proceeds of Mortgage Loan. The proceeds of the Mortgage Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or any Affiliate or correspondent of Seller, except in connection with a refinanced Mortgage Schedule 1-10 LEGAL02/36809997v5 Loan; provided, however, no such refinanced Mortgage Loan shall have been originated pursuant to a streamlined mortgage loan refinancing program.
Proceeds of Mortgage Loan. Except as expressly previously disclosed to the Buyer, the proceeds of the Mortgage Loan have not been used to satisfy, in whole or in part, any debt owed or owing by the mortgagor to the Seller other than for the purchase of the Mortgaged Property; provided, however, that the Mortgage Loan may provide permanent financing for a construction loan with respect to the Mortgaged Property;
