Evidence of Formation of Borrower Clause Samples
The 'Evidence of Formation of Borrower' clause requires the borrower to provide documentation proving its legal existence and proper formation as a business entity. Typically, this involves submitting certified copies of organizational documents such as articles of incorporation, certificates of formation, or partnership agreements, along with any necessary governmental filings. By mandating this evidence, the clause ensures that the lender is dealing with a legitimate and duly organized entity, thereby reducing the risk of fraud and confirming the borrower's legal capacity to enter into the loan agreement.
Evidence of Formation of Borrower. Certified (as of the Closing Date) copies of Borrower’s certificate of incorporation and by-laws, with all amendments thereto, and a certificate of the Secretary of State of the jurisdiction of formation as to its good standing therein;