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Common use of No Prior Offer Clause in Contracts

No Prior Offer. Prior to the transfer of the Mortgage Loan to the Sponsor, the Mortgage Loan had not been previously rejected by a third-party purchaser; and

Appears in 4 contracts

Sources: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-Wmc1), Pooling and Servicing Agreement (Morgan Stanley Capital I Inc. Trust 2006-He1), Pooling and Servicing Agreement (Morgan Stanley Capital I Inc. Trust 2006-He1)

Related Clauses

  • No Prior Agreements
  • No Prior Encumbrances
  • No Prior Assignment
  • No Prior Assignments
  • No Prior Activities

Parent Clauses

  • Representations and Warranties Regarding Individual Mortgage Loans
  • Representations Warranties and Covenants of the Seller Remedies for Breach
  • Credit Reporting; Gramm-Leach-Bliley Act
  • Representations Warranties and Covenants Remedies for Breach
  • Regulation AB Compliance; Intent of the Parties; Reasonableness

Sub-Clauses

  • Due Organization and Authority
  • No Consent Required
  • Ordinary Course of Business
  • No Conflicts
  • No Litigation Pending
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