Common use of Bank's Representations Clause in Contracts

Bank's Representations. The Bank hereby represents and warrants to the Lender, which representations and warranties shall be deemed to be continuing and to be reaffirmed on any day that a Securities loan hereunder is outstanding, that: (a) This Agreement and each Securities Borrowing Agreement is legally and validly entered into by the Bank, and this Agreement, each Securities Borrowing Agreement and the role of the Bank hereunder and thereunder do not and will not, violate any statute, regulation, rule, order or, judgment binding on the Bank, or any Securities Lending Agrmt 5 July 2012 provision of the Bank’s charter or by-laws, or any agreement binding on the Bank or affecting its property, and is enforceable against the Bank in accordance with its terms, except as may be limited by bankruptcy, insolvency or similar laws, or by equitable principles relating to or limiting creditors rights generally; and (b) The person executing this Agreement on behalf of the Bank and all persons acting on the Bank’s behalf pursuant to this Agreement have been duly and properly authorized to do so.