Common use of Borrower Representation Clause in Contracts

Borrower Representation. The Borrower represents and warrants that (i) it is a statutory trust duly organized, validly existing and in good standing under the laws of its jurisdiction of organization and has all requisite power and authority as a statutory trust to enter into and perform its obligations under this Collateral Agency Agreement and each Collateral Document executed on or prior to the Closing Date, (ii) the execution, delivery and performance by it of this Collateral Agency Agreement and each such Collateral Document have been duly authorized by all necessary action on its part and (iii) this Collateral Agency Agreement and each such Collateral Document is its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as such enforceability may be limited by insolvency, bankruptcy, reorganization or other laws relating to or affecting the enforcement of creditors’ rights and by general equitable principles.

Borrower Representation. The Borrower represents and warrants that (i) it is a statutory trust duly organized, validly existing and in good standing under the laws of its jurisdiction of organization and has all requisite power and authority as a statutory trust to enter into and perform its obligations under this Collateral Agency Agreement and each Collateral Document executed on or prior to the Closing Date, (ii) the execution, delivery and performance by it of this Collateral Agency Agreement and each such Collateral Document have been duly authorized by all necessary action on its part and (iii) this Collateral Agency Agreement and each such Collateral Document is its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as such enforceability may be limited by insolvency, bankruptcy, reorganization or other laws relating to or affecting the enforcement of creditors’ rights and by general equitable principles.