Authority and Representations of the Parties. 2.1. For the purpose of authority required for execution/signing and enforcement of the Agreement, the Parties have acquired all necessary permits, approvals or proxies.
Authority and Representations of the Parties. 2.1. For the purpose of authority required for execution/signing and enforcement of the Agreement, the Parties have acquired all necessary permits, approvals or proxies.
2.2. As per the Customer’s representation, his/her/its actions are not/will not be directed to deceive the Bank. Document and/or information submitted by him/her/it to the Bank in order to execute and/or enforce the Agreement taking into account the above principle, at the moment of its submission, is/will be true, explicit and complete. Furthermore, he/she/it is aware that submission of false documents and/or information as well as violation of the purpose of the Credit established by the Agreement constitutes a punishable offense according to the Legislation.
