Tax Service Contract; Flood Certification Contract Sample Clauses

Tax Service Contract; Flood Certification Contract. Each Mortgage Loan is covered by a paid in full, life of loan, tax service contract and a paid in full, life of loan, flood certification contract and each of these contracts is assignable to the Purchaser;
Tax Service Contract; Flood Certification Contract. The Seller has obtained a Tax Service Contract with an Approved Tax Service Provider on each Mortgage Loans and such contract is assignable to the Purchaser. The Seller has obtained a life of loan, transferable flood certification contract from FAFDS for each Mortgage Loan and such contract is assignable to the Purchaser or the Purchaser’s designee. ww. Prepayment Penalties. With respect to each Mortgage Loan that has a Prepayment Penalty, each such Prepayment Penalty is enforceable and will be enforced by the Seller, and each Prepayment Penalty is permitted pursuant to federal, state and local law. With respect to Mortgage Loans originated prior to October 1, 2002, no such Prepayment Penalty may be imposed for a term in excess of five (5) years following origination. With respect to Mortgage Loans originated on or after October 1, 2002, no such Prepayment Penalty may be imposed for a term in excess of five (5) years following origination. Except as otherwise set forth in the Mortgage Loan Schedule, with respect to each Mortgage Loan that contains a Prepayment Penalty, such Prepayment Penalty is at least equal to the lesser of (A) the maximum amount permitted under applicable law and (B) six months interest at the related Mortgage Interest Rate on the amount prepaid in excess of 20% of the original principal balance of such Mortgage Loan; any breach of this representation shall be deemed to materially and adversely affect the value of the Mortgage Loan and shall require a repurchase of the affected Mortgage Loan.
Tax Service Contract; Flood Certification Contract. Each Mortgage Loan shall have a tax service contract and, if applicable, a flood insurance contract which shall have a term of the life of the Mortgage Loan. Each such tax service and flood insurance contract shall be fully transferable without penalty, premium or cost to the Purchaser or its designee, unless, with respect to tax service contract, the Company is terminated pursuant to Section 11.2 hereof;
Tax Service Contract; Flood Certification Contract. The Seller has obtained a Tax Service Contract with an Approved Tax Service Contract Provider on each Mortgage Loans and such contract is assignable to the Purchaser. The Seller has obtained a life of loan, transferable flood certification contract for each Mortgage Loan and such contract is assignable to the Purchaser or the Purchaser’s designee.
Tax Service Contract; Flood Certification Contract. With respect to each first lien Mortgage Loan, the Seller has obtained a Tax Service Contract with an Approved Tax Service Provider on each Mortgage Loans and such contract is assignable to the Purchaser. With respect to each first lien Mortgage Loan, the Seller has obtained a life of loan, transferable flood certification contract for each Mortgage Loan and such contract is assignable to the Purchaser or the Purchaser’s designee.
Tax Service Contract; Flood Certification Contract. Each Mortgage Loan is covered by a paid in full, life of loan, flood certification contract and such contract is assignable to the Purchaser and either (i) each Mortgage Loan is covered by a paid in full, life of loan, tax service contract, and such contract is transferable or (ii) on the related Closing Date the Purchaser shall net an amount from the related Purchaser Price to cover such a tax service contract as specified in the related Purchase Price and Terms Agreement;
Tax Service Contract; Flood Certification Contract. Countrywide has obtained a tax service contract on each Mortgage Loans and such contract is assignable to the Purchaser. Countrywide has obtained a life of loan, transferable flood certification contract for each Mortgage Loan and such contract is assignable to the Purchaser or the Purchaser’s designee.
Tax Service Contract; Flood Certification Contract. The Seller either (i) has obtained a Tax Service Contract with FARETS on each Mortgage Loans and such contract is assignable to the Purchaser or (ii) or shall reimburse the Purchaser in accordance with Section 7.06(r). The Seller has either (i) obtained a life of loan, transferable flood certification contract from FAFDS for each Mortgage Loan and such contract is assignable to the Purchaser or the Purchaser’s designee or (ii) or shall reimburse the Purchaser in accordance with Section 7.06(r). yy.
Tax Service Contract; Flood Certification Contract. Each Mortgage Loan is covered by, a paid in full, tax service contract and a paid in full, flood certification contract and each of these contracts is either transferable to the Purchaser or its designee, or Servicer shall pay any associated costs with obtaining transferable tax service and flood certification contracts upon the related Transfer Date, if any;
Tax Service Contract; Flood Certification Contract. The Seller has obtained a Tax Service Contract with FARETS on each Mortgage Loan and such contract is assignable to the Purchaser. The Seller has obtained a life of loan, transferable flood certification contract from FAFDS for each Mortgage Loan and such contract is assignable to the Purchaser or the Purchaser's designee. yy. Prepayment Penalties. No Mortgage Loan has a Prepayment Penalty; zz. Georgia Fair Lending Act. There is no Mortgage Loan that was originated on or after October 1, 2002 and on or prior to March 7, 2003, which is secured by property located in the State of Georgia. There is no Mortgage Loan that was originated after March 7, 2003, which is a "high-cost home loan" as defined under the Georgia Fair Lending Act; aaa.