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Common use of No Prior Offer Clause in Contracts

No Prior Offer. The Mortgage Loan has not previously been offered for sale to another entity that constitutes a broker dealer registered with the Commission under Section 15 of the Exchange Act;

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-Nc5), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-Nc1), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He7)

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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