Common use of Bank Representations Clause in Contracts

Bank Representations. Each Bank represents to the Agent on the date of issue of each Letter of Credit that: 25.22.1 the execution and delivery of each Letter of Credit by the Agent on the Bank's behalf has been duly authorised by all necessary action on the part of the Bank; and 25.22.2 the obligations of the Bank under each Letter of Credit constitute its legal, valid and binding obligations.

Bank Representations. Each Bank represents to the Agent on the date of issue of each Letter of Credit that: 25.22.1 26.22.1 the execution and delivery of each Letter of Credit by the Agent on the Bank's behalf has been duly authorised by all necessary action on the part of the Bank; and 25.22.2 26.22.2 the obligations of the Bank under each Letter of Credit constitute its legal, valid and binding obligations.

Bank Representations. Each Bank represents to the Agent on the date of issue of each Letter of Credit that: 25.22.1 26.22.1 the execution and delivery of each Letter of Credit by the Agent on the Bank's ’s behalf has been duly authorised by all necessary action on the part of the Bank; and 25.22.2 26.22.2 the obligations of the Bank under each Letter of Credit constitute its legal, valid and binding obligations.