Common use of No Default Under First Lien Clause in Contracts

No Default Under First Lien. To the best of Seller’s knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;

Appears in 22 contracts

Sources: Mortgage Loan Purchase and Interim Servicing Agreement (Five Oaks Investment Corp.), Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Master Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar)

No Default Under First Lien. To the best of Seller’s 's knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;; and

Appears in 21 contracts

Sources: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2006-16ax)

No Default Under First Lien. To the best of Seller’s 's knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;

Appears in 20 contracts

Sources: Master Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs), Pooling and Servicing Agreement (GSAMP Trust 2007-H1), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar)

No Default Under First Lien. To the best of Seller’s knowledgeWith respect to each Second Lien Loan, the related first lien loan First Lien Loan related thereto is in full force and effect, and there is no default liendefault, breach, violation or event which would permit acceleration existing under such first lien mortgage Mortgage or mortgage noteMortgage Note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loanthereunder;

Appears in 9 contracts

Sources: Mortgage Loan Purchase Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-Nc3), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He7)

No Default Under First Lien. To the best of Seller’s 's knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event event, other than delinquencies of up to twenty-nine days, which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;

Appears in 8 contracts

Sources: Pooling and Servicing Agreement (GSAMP Trust 2006-He3), Pooling and Servicing Agreement (GSAMP Trust 2006-He7), Pooling and Servicing Agreement (GSAMP Trust 2006-He4)

No Default Under First Lien. To the best of Seller’s knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;; and

Appears in 7 contracts

Sources: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax)

No Default Under First Lien. To the best of Seller’s 's knowledge, the related first lien mortgage loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien mortgage loan;

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (GSAMP Trust 2007-H1), Master Servicing and Trust Agreement (GSAA Home Equity Trust 2006-16), Pooling and Servicing Agreement (GSAMP Trust 2007-He1)

No Default Under First Lien. To the best of Seller’s 's knowledge, the related first lien mortgage loan is in full ▇▇ ▇▇ll force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien mortgage loan;

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (GSAMP Trust 2006-He4), Pooling and Servicing Agreement (GSAMP Trust 2006-He5), Pooling and Servicing Agreement (GSAMP Trust 2006-He8)

No Default Under First Lien. To the best of Seller’s knowledgeWith respect to each Second Lien Mortgage Loan, the related first lien mortgage loan is in full force and effect, and there is no default liendefault, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loanthereunder;

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2004-He5), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2004-He4), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2004-He4)

No Default Under First Lien. To the best of Seller’s Responsible Party's knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (GSAMP Trust 2007-Nc1), Pooling and Servicing Agreement (GSAMP Trust 2006-Nc2), Pooling and Servicing Agreement (GS Mortgage Securities Corp GSAMP Trust 2004-Nc2)

No Default Under First Lien. To the best of Seller’s Sellers' knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (GSAMP Trust 2006-He4), Pooling and Servicing Agreement (GSAMP Trust 2006-He5)

No Default Under First Lien. To the best of Seller’s Decision One's knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (GSAMP Trust 2006-He7), Pooling and Servicing Agreement (GSAMP Trust 2006-He5)

No Default Under First Lien. To the best of the applicable Seller’s knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;; and

Appears in 1 contract

Sources: Asset Purchase Agreement (Popular Inc)

No Default Under First Lien. To the best of Seller’s 's knowledge, except for payment defaults of less than one (1) month, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;

Appears in 1 contract

Sources: Pooling and Servicing Agreement (GSAMP Trust 2006-Fm2)

No Default Under First Lien. To the best of Seller’s 's knowledge, the related first lien mortgage loan is in ▇▇ ▇▇ full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien mortgage loan;

Appears in 1 contract

Sources: Pooling and Servicing Agreement (GSAMP Trust 2006-He7)