Common use of No Prior Offer Clause in Contracts

No Prior Offer. If the Mortgage Loan has previously been offered for sale, such Mortgage Loan was not rejected from being purchased by such offeree as a result of the offeree’s due diligence, unless such deficiency has since been cured;

Appears in 11 contracts

Sources: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-13), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs)

No Prior Offer. If the Mortgage Loan has previously been offered for sale, sale such Mortgage Loan was not rejected from being purchased by such offeree as a result of the offeree’s due diligence, unless such deficiency has since been cured;

Appears in 2 contracts

Sources: Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Mortgage Loan Sale and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar)