Common use of Securitization Opinions Clause in Contracts

Securitization Opinions. In the event the Loan is included as an asset of a Securitization by Lender or any of its Affiliates, Borrower shall, within ten (10) Business Days after Lender’s written request therefor, deliver opinions in form and substance and delivered by counsel reasonably acceptable to Lender and each Rating Agency, as may be reasonably required by Lender and/or the Rating Agency in connection with such securitization. Borrower’s failure to deliver the opinions required hereby within such ten (10) Business Day period shall constitute an “Event of Default” hereunder. The cost of any “bringdown” opinion of any legal opinion given in connection with the origination of the Loan will be paid by Borrower. The reasonable cost of any other opinion requested by Lender and/or any Rating Agency will be paid by Lender. Notwithstanding the foregoing, Borrower shall not be required to deliver a “10b-5” or “REMIC” Opinion in connection with any Securitization.

Securitization Opinions. In the event the Loan is included as an asset of a Securitization by Lender or any of its Affiliates, Borrower shall, within ten (10) Business Days after Lender’s written request therefor, deliver opinions in form and substance and delivered by counsel reasonably acceptable to Lender and each Rating Agency, as may be reasonably required by Lender and/or the Rating Agency in connection with such securitization. Borrower’s failure to deliver the opinions required hereby within such ten (10) Business Day period shall constitute an “Event of Default” hereunder. The cost of any “bringdown” opinion of any legal opinion given in connection with the origination of the Loan will be paid by Borrower. The reasonable cost of any other opinion requested by Lender and/or any Rating Agency will be paid by Lender. Notwithstanding the foregoing, Borrower shall not be required to deliver a “10b-5” or “REMIC” Opinion in connection with any Securitization.. 105