Common use of Transactions on or Prior to the Closing Date Clause in Contracts

Transactions on or Prior to the Closing Date. On or prior to the Closing Date hereof, Seller shall have delivered or caused to be delivered all of the items comprising the Mortgage Loan Files required to be delivered by such date in accordance with Section 3 below with respect to each of the Mortgage Loans listed in the Mortgage Loan Schedule to LaSalle National Bank, as Custodian (in such capacity, the "Custodian" and serving at the direction of the Trustee), against receipt by Seller of a trust receipt, pursuant to an arrangement among Seller, the Custodian and the Trustee. As of the Closing Date, the Mortgage Loans and the related Mortgage Loan Files shall comply in all material respects with the representations and warranties set forth in Exhibit I.