Structural Documents Clause Samples

Structural Documents. Each of the Structural Documents is genuine, in full force and effect, and no defaults or events of default exist thereunder. To PMC’s knowledge, each such Structural Document is the legal, valid and binding obligation of the makers thereof enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and general equitable principles. The enforceability of each such Structural Document has not been contested by any party thereto. Except as otherwise provided to Buyer prior to the Effective Date or consented to in writing by Buyer following the Effective Date, there are no amendments, modifications or other supplements to the Structural Documents. Neither PMC nor REO Entity has waived the performance by any other party of any action, if the failure to perform such action would adversely affect the Assets or the direct or indirect rights of Buyer in the Purchased Assets in any material respect, nor has any such Person waived any default resulting from any action or inaction by such party.