Collateral Error definition
Collateral Error means any error in the Master Tape or any other information concerning the Mortgage Loans furnished by a Mortgage Loan Seller to any Underwriter in writing or by electronic transmission that was used in the preparation of any Computational Materials or ABS Term Sheets; provided that Collateral Error shall not include an error by an Underwriter in the manipulation of, or any calculation based upon, or any aggregation of information concerning the Mortgage Loans. "Corrected Collateral Error" shall mean any Collateral Error as to which the Underwriters, within a reasonable time period prior to the dissemination of the materials from which any expense, loss, claim, damage or liability or action in respect thereof arose, were notified in writing or provided in written or electronic form information superseding or correcting such Collateral Error, including, without limitation, as part of the Prospectus.
Collateral Error means any error in the information concerning the Mortgage Loans furnished by a Mortgage Loan Seller to SBMS or any Underwriter in writing or by electronic transmission that was used in the preparation of any Computational Materials or ABS Term Sheets; provided that Collateral Error shall not include an error in the manipulation of, or any calculation based upon, or any aggregation of information concerning the Mortgage Loans, provided by a Mortgage Loan Seller. "Corrected Collateral Error" shall mean any Collateral Error as to which the Underwriters, prior to the dissemination of the materials from which any loss, claim, damage or liability or action in respect thereof arose, were notified in writing or provided in written or electronic form information superseding or correcting such Collateral Error, including, without limitation, as part of the Prospectus.
Collateral Error means any error in the information concerning the Mortgage Loans furnished by either Mortgage Loan Seller to MCFI or the Underwriter in writing or by electronic transmission that was used in the preparation of any Computational Materials or ABS Term Sheets; and "Corrected Collateral Error" shall mean any Collateral Error as to which the Underwriter, not later than the date hereof, was notified in writing or provided in written or electronic form information superseding or correcting such Collateral Error, including, without limitation, as part of the Prospectus.
Examples of Collateral Error in a sentence
Notwithstanding the foregoing, the Underwriters make no representation or warranty as to whether any Computational Materials, Collateral Term Sheets or ABS Term Sheets included or will include any untrue statement resulting directly from any Collateral Error (except any Corrected Collateral Error, with respect to materials prepared after the receipt by the Underwriter from the Company of notice of such Corrected Collateral Error or materials superseding or correcting such Collateral Error).
Collateral Error, with respect to materials prepared after the receipt by the Underwriter from the Company of notice of such Corrected Collateral Error or materials superseding or correcting such Collateral Error).
More Definitions of Collateral Error
Collateral Error means any error in the information regarding the Seller, the Mortgage Loans, the related Mortgaged Properties or the related Borrowers contained in the Master Tape or any other information supplied by the Seller to the Purchaser or _______________ or any breach of the representations and warranties made by the Seller in or pursuant to Section 3.
Collateral Error with respect to materials prepared after the receipt by the Underwriters from SBMS or either the Mortgage Loan Seller of notice of such Corrected Collateral Error or materials superseding or correcting such Collateral Error), at the expense of SBMS), shall promptly prepare and furnish to SBMS for filing with the Commission an amendment or supplement that will correct such statement or omission or an amendment that will effect such compliance and shall distribute such amendment or supplement to each prospective investor in the Registered Certificates that received such information being amended or supplemented. The Underwriters represent and warrant to SBMS, as of the date of delivery of such amendment or supplement to SBMS, that such amendment or supplement will not include any untrue statement of a material fact or, when read in conjunction with the Prospectus, omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. SBMS shall have no obligation to file such amendment or supplement if SBMS determines that such amendment or supplement contains any untrue statement of a material fact or, when read in conjunction with the Prospectus, omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading (it being understood, however, that SBMS shall have no obligation to review or pass upon the accuracy or adequacy of, or to correct, any such amendment or supplement provided by the Underwriters to SBMS pursuant to this paragraph (e)). Notwithstanding the foregoing, the Underwriters make no representation or warranty as to whether any such amendment or supplement of Computational Materials or ABS Term Sheets with respect to the Registered Certificates included or will include any untrue statement resulting directly from any Collateral Error (except any Corrected Collateral Error, with respect to materials prepared after the receipt by the Underwriters from SBMS or either Mortgage Loan Seller of notice of such Corrected Collateral Error or materials superseding or correcting such Collateral Error).