REPRESENTATIONS AND WARRANTIES REGARDING MH LOANS Sample Clauses

REPRESENTATIONS AND WARRANTIES REGARDING MH LOANS. The applicable Seller (either MHFC or Dynex) shall be deemed to make the following representations and warranties to the Buyer with respect to each MH Loan sold in a Transaction hereunder, as of the related Purchase Date and as of each day such Transaction is in effect and except as shall be specifically disclosed in the schedule attached to the Request for Purchase. With respect to any representations and warranties made to the best of the applicable Seller's knowledge, to the applicable Seller's knowledge or in reliance on or based on information, in the event that it is discovered that the circumstances with respect to the related Mortgage Loan are not accurately reflected in such representation and warranty notwithstanding the actual knowledge or lack of knowledge of the applicable Seller, then, notwithstanding that such representation and warranty is made to the best of the applicable Seller's knowledge, to the applicable Seller's knowledge or in reliance on or based on information, the Market Value of such Mortgage Loans may, in the Buyer's sole good faith discretion, be reduced to zero.
AutoNDA by SimpleDocs

Related to REPRESENTATIONS AND WARRANTIES REGARDING MH LOANS

Time is Money Join Law Insider Premium to draft better contracts faster.