Common use of No Material Default Clause in Contracts

No Material Default. Neither the Seller nor any of its Affiliates is in material default under any agreement, contract, instrument or indenture of any nature whatsoever to which the Seller or any of its Affiliates is a party or by which it (or any of its assets) is bound, which default would have a material adverse effect on the ability of the Seller to perform under this Agreement, nor, to the best of the Seller's knowledge, has any event occurred which, with notice, lapse of time or both, would constitute a default under any such agreement, contract, instrument or indenture and have a material adverse effect on the ability of the Seller to perform its obligations under this Agreement;

Appears in 46 contracts

Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-3), Purchase, Sale & Servicing Agreement (E Loan Inc), Mortgage Loan Purchase, Sale & Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 4h)

No Material Default. Neither the Seller nor any of its Affiliates is in material default under any agreement, contract, instrument or indenture of any nature whatsoever to which the Seller or any of its Affiliates is a party or by which it (or any of its assets) is bound, which default would have a material adverse effect on the ability of the Seller to perform under this Agreement, nor, to the best of the Seller's ’s knowledge, has any event occurred which, with notice, lapse of time or both, would constitute a default under any such agreement, contract, instrument or indenture and have a material adverse effect on the ability of the Seller to perform its obligations under this Agreement;

Appears in 45 contracts

Sources: Mortgage Loan Flow Purchase, Sale & Servicing Agreement, Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2013-1), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2012-3)

No Material Default. Neither the Seller nor any of its Affiliates is in material default under any agreement, contract, instrument or indenture of any nature whatsoever to which the Seller or any of its Affiliates is a party or by which it (or any of its assets) is bound, which default would have a material adverse effect on the ability of the Seller to perform under this Agreement, nor, to the best of the Seller's knowledge, has any event occurred which, with notice, lapse of time or both, would constitute a default under any such agreement, contract, instrument or indenture and have a material adverse effect on the ability of the Seller to perform its obligations under this Agreement;.

Appears in 7 contracts

Sources: Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Structured Asset Securities Corp), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Structured Asset Securities Corp), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Structured Asset Sec Mort Pass Thru Cert Ser 2002-21a)

No Material Default. Neither the Seller nor any of its Affiliates affiliates is in material default under any agreement, contract, instrument or indenture of any nature whatsoever to which the Seller or any of its Affiliates affiliates is a party or by which it (or any of its assets) is bound, which default would have a material adverse effect on the ability of the Seller to perform under this Agreement, nor, to the best of the Seller's ’s knowledge, has any event occurred which, with notice, lapse of time or both, would constitute a default under any such agreement, contract, instrument or indenture and have a material adverse effect on the ability of the Seller to perform its obligations under this Agreement;.

Appears in 6 contracts

Sources: Mortgage Loan Purchase Agreement (Angel Oak Mortgage REIT, Inc.), Mortgage Loan Purchase Agreement (Angel Oak Mortgage REIT, Inc.), Mortgage Loan Purchase Agreement (Angel Oak Mortgage, Inc.)