Common use of No Material Default; Payment Record Clause in Contracts

No Material Default; Payment Record. As of the Purchase Date, no Purchased Asset has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required payments since origination and no Purchased Asset is delinquent (beyond any applicable grace or cure period) in making required payments. To Seller’s Knowledge, there is (a) no, and since origination and until the Purchase Date, there has been no, material default, breach, violation or event of acceleration existing under the related Purchased Asset Documents, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or (b), materially and adversely affects the value of the Purchased Asset, or the value, use or operation of the related Underlying Mortgaged Property, provided, however, that this Paragraph (38) does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by Seller in any Exception Report. No person other than the holder of such Purchased Asset may declare any event of default under the Purchased Asset or accelerate any indebtedness under the Purchased Asset Documents.

No Material Default; Payment Record. As of the Purchase DateDate and the date of the transfer of any Margin Excess to Seller, no Purchased Asset Loan has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination origination, and no Purchased Asset Loan is more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments. To As of the Purchase Date and the date of the transfer of any Margin Excess to Seller, to the Seller’s Actual Knowledge, there is (a) no, and since origination and until the Purchase Date, there has been no, no material default, breach, violation or event of acceleration existing under the related Purchased Asset DocumentsLoan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or (b), materially and adversely affects the value of the Purchased Asset, Loan or the value, use or operation of the related Underlying Mortgaged Property, provided, however, that this Paragraph (38) representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in any Exception Reportthis Exhibit VI (including, but not limited to, the prior sentence). No Solely with respect to a Whole Loan, no person other than the holder of such Purchased Asset Loan may declare any event of default under the Purchased Asset Loan or accelerate any indebtedness under the Purchased Asset Loan Documents.

No Material Default; Payment Record. As To the applicable Seller’s Knowledge, no Purchased Loan has been delinquent beyond any applicable grace or cure period (or if no grace or cure period is specified in the related Loan Documents, more than five (5) Business Days) in making required payments since origination, and as of the Purchase Date, no Purchased Asset has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required payments since origination and no Purchased Asset Loan is delinquent (beyond any applicable grace or cure periodperiod (or if no grace or cure period is specified in the related Loan Documents, more than five (5) Business Days) in making required payments. To the applicable Seller’s Knowledge, there is (a) no, and since origination and until the Purchase Date, there has been no, no material default, breach, violation or event of acceleration existing under the related Purchased Asset DocumentsLoan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Purchased Asset, Loan or the value, use or operation of the related Underlying Mortgaged Property, provided, however, ; provided that this Paragraph (38) representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and or warranty made by such Seller in any Exception Report. No person other than the holder of such Purchased Asset may declare any event of default under the Purchased Asset or accelerate any indebtedness under the Purchased Asset Documentsthis Exhibit VI.

No Material Default; Payment Record. As of the Purchase Date, no Purchased Asset No Loan has been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required payments since origination origination, and as of the Representation Date, no Purchased Asset Loan is more than thirty (30) days delinquent (beyond any applicable grace or cure period) in making required paymentspayments as of the Representation Date. To the Seller’s Knowledgeknowledge, there is (a) no, and since origination and until the Purchase Date, there has been no, no material default, breach, violation or event of acceleration existing under the related Purchased Asset Documents, Loan or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Purchased Asset, Loan or the value, use or operation of the related Underlying Mortgaged Property, provided, however, that this Paragraph (38) representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in any Exception Report. Schedule 1(a) to this Exhibit B. No person other than the holder of such Purchased Asset Loan (subject to any related Partition Agreement, if applicable) may declare any event of default under the Purchased Asset Loan or accelerate any indebtedness under the Purchased Asset Loan Documents.

No Material Default; Payment Record. As of the Purchase DateDate and the date of the transfer of any Margin Excess to Seller, no Purchased Asset Mortgage Loan has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination as of the Purchase Date, and no Purchased Asset Mortgage Loan is more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments. To As of the Purchase Date and the date of the transfer of any Margin Excess to Seller, to Seller’s Knowledge, there is (a) no, and since origination and until the Purchase Date, there has been no, no material default, breach, violation or event of acceleration existing under the related Purchased Asset DocumentsMortgage Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or (b), materially and adversely affects the value of the Purchased Asset, Mortgage Loan or the value, use or operation of the related Underlying Mortgaged Property, provided, however, that this Paragraph (38) representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by Seller in any Exception Reportthis Exhibit V-F (including, but not limited to, the prior sentence). No person other than the holder of such Purchased Asset Mortgage Loan may declare any event of default under the Purchased Asset Mortgage Loan or accelerate any indebtedness under the Purchased Asset Documents.

No Material Default; Payment Record. As Except as disclosed to Buyer, (1) as of the its Purchase Date, no Purchased Asset has been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required payments since origination origination, and as of its Purchase Date, no Purchased Asset is delinquent (beyond any applicable grace or cure period) in making required payments. To payments and (2) to Seller’s Knowledge, as of its Purchase Date, there is (a) no, and since origination and until the Purchase Date, there has been no, material default, breach, violation or event of acceleration existing under the related Purchased Asset Documents, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or (b), materially and adversely affects the value of the Purchased Asset, Asset or the value, use or operation of the related Underlying Mortgaged Property, provided, however, that this Paragraph (38) representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by Seller in any Exception Reportthis Exhibit IX. No person other than the holder of such Purchased Asset may declare any event of default under the Purchased Asset or accelerate any indebtedness under the Purchased Asset Documents.

No Material Default; Payment Record. As of the Purchase DateDate and the date of the transfer of any Margin Excess to Seller, no Purchased Asset Loan has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination origination, and no Purchased Asset Loan is more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments. To As of the Purchase Date and the date of the transfer of any Margin Excess to Seller, to Seller’s Actual Knowledge, there is (a) no, and since origination and until the Purchase Date, there has been no, no material default, breach, violation or event of acceleration existing under the related Purchased Asset DocumentsLoan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or (b), materially and adversely affects the value of the Purchased Asset, Loan or the value, use or operation of the related Underlying Mortgaged Property, provided, however, that this Paragraph (38) representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by Seller in any Exception Reportthis Exhibit VI-IV (including, but not limited to, the prior sentence). No person other than the holder of such Purchased Asset Loan may declare any event of default under the Purchased Asset Loan or accelerate any indebtedness under the Purchased Asset Loan Documents.