Conditions for agency loan. A Lender may enter into an Agency Transaction if, but only if:-
Conditions for agency loan. A Lender may enter into an Agency Transaction if, but only if:- ■ it specifies that Loan as an Agency Transaction at the time when it enters into it; ■ it enters into that Loan on behalf of a single Principal whose identity is disclosed to Xxxxxxxx (whether by name or by reference to a code or identifier which the Parties have agreed will be used to refer to a specified Principal) at the time when it enters into the Loan or as otherwise agreed between the Parties; and ■ it has at the time when the Loan is entered into actual authority to enter into the Loan and to perform on behalf of that Principal all of that Principal’s obligations under the agreement. Notification by Xxxxxx of certain events affecting the principal Lender undertakes that, if it enters as agent into an Agency Transaction, forthwith upon becoming aware:- ■ of any event which constitutes an Act of Insolvency with respect to the relevant Principal; or ■ of any breach of any of the warranties given in paragraph 0 or of any event or circumstance which has the result that any such warranty would be untrue if repeated by reference to the then current facts; ■ it will inform Xxxxxxxx of that fact and will, if so required by Borrower, furnish it with such additional information as it may reasonably request.
