Common use of BORRROWER'S CONFIRMATION AND DECALRATION Clause in Contracts

BORRROWER'S CONFIRMATION AND DECALRATION. (i) The Borrower agrees and confirms that: (a) the Bank is authorised to determine, at its sole discretion, whether a demand complies with the relevant BG issued by it or is discrepant and upon a payment being made or a determination being made by the Bank of a valid demand having been made, the determination will be conclusive and final evidence that the demand is correct and has been properly made. The Borrower shall not be entitled to and hereby irrevocably waives all rights and entitlements to claim against, object or dispute the aforesaid determination of the Bank or any payments made by it under the BG, whether or not finally the demand was determined to be discrepant; (b) if the Bank pays any demand under the BG such amount shall be regarded as having been properly paid for the purposes of this Agreement; (ii) The Borrower further confirms and declares that: (a) it is in compliance with provisions of applicable Laws with respect to the transactions that are the subject matter of the BG and the transactions covered under the BG do not involve or are not designed for the purposes of any contravention or evasion of any provision of any Applicable Laws. (b) the Borrower further confirms and declares that the BGs may be amended and/or modified by the Bank in its absolute discretion upon receipt of written request from the Borrower and in such an event, such amendment/modification will be deemed to form part of the existing BG and will be governed by the terms hereof.

BORRROWER'S CONFIRMATION AND DECALRATION. (i) The Borrower agrees and confirms that: (a) the Bank is authorised to determine, at its sole discretion, whether a demand complies with the relevant BG issued by it or is discrepant and upon a payment being made or a determination being made by the Bank of a valid demand having been made, the determination will be conclusive and final evidence that the demand is correct and has been properly made. The Borrower shall not be entitled to and hereby irrevocably waives all rights and entitlements to claim against, object or dispute the aforesaid determination of the Bank or any payments made by it under the BG, whether or not finally the demand was determined to be discrepant; (b) if the Bank pays any demand under the BG such amount shall be regarded as having been properly paid for the purposes of this Agreement; (ii) The Borrower further confirms and declares that: (a) it is in compliance with provisions of applicable Laws with respect to the transactions that are the subject matter of the BG and the transactions covered under the BG do not involve or are not designed for the purposes of any contravention or evasion of any provision of any Applicable Laws.. Version July 2021 [21] (b) the The Borrower further confirms and declares that the BGs may XX xxxx be amended and/or modified by the Bank in its absolute discretion upon receipt of written request from the Borrower and in such an event, such amendment/modification will be deemed to form part of the existing BG and will be governed by the terms hereof.

BORRROWER'S CONFIRMATION AND DECALRATION. (i) The Borrower agrees and confirms that: (a) the Bank is authorised to determine, at its sole discretion, whether a demand complies with the relevant BG issued by it or is discrepant and upon a payment being made or a determination being made by the Bank of a valid demand having been made, the determination will be conclusive and final evidence that the demand is correct and has been properly made. The Borrower shall not be entitled to and hereby irrevocably waives all rights and entitlements to claim against, object or dispute the aforesaid determination of the Bank or any payments made by it under the BG, whether or not finally the demand was determined to be discrepant; (b) if the Bank pays any demand under the BG such amount shall be regarded as having been properly paid for the purposes of this Agreement; (ii) The Borrower further confirms and declares that: (a) it is in compliance with provisions of applicable Laws with respect to the transactions that are the subject matter of the BG and the transactions covered under the BG do not involve or are not designed for the purposes of any contravention or evasion of any provision of any Applicable Laws.. Version January 2022 [25] (b) the The Borrower further confirms and declares that the BGs may XX xxxx be amended and/or modified by the Bank in its absolute discretion upon receipt of written request from the Borrower and in such an event, such amendment/modification will be deemed to form part of the existing BG and will be governed by the terms hereof.