Factual confirmations Clause Samples
The 'Factual confirmations' clause requires parties to formally affirm that certain statements or representations made within the agreement are true and accurate at the time of signing. This typically involves each party verifying key facts, such as their authority to enter the contract, the accuracy of provided information, or the absence of undisclosed liabilities. By including this clause, the agreement ensures that both parties are relying on accurate information, reducing the risk of disputes arising from misrepresentations or misunderstandings.
Factual confirmations. The Lessee confirms to the New Lessor on the date hereof and at the Effective Time (but, in respect of the Effective Time, subject to any qualifications noted in the Effective Time Notice): no [Event of Default] has occurred and is continuing under the Lease; no [[Event of Loss]/[Total Loss]] with respect to the [Airframe] or any Engine has occurred; no damage has occurred to the Aircraft resulting in repair costs in excess of the [Damage Notification Threshold]; and the Aircraft and each Engine is in the possession of the Lessee and the Lessee has not executed a sub-lease, wet lease or charter agreement in respect of the Aircraft or any Engine or otherwise agreed to part with possession of the Aircraft or any Engine9. The Lessee and the Existing Lessor confirm to the New Lessor that the documentation listed in Schedule 1 (The Lease) hereto constitutes the entire agreement between the Lessee and the Existing Lessor in relation to the leasing of the Aircraft which will continue in effect between the Lessee and the New Lessor following the Effective Time and there have been no amendments, consents, waivers or modifications entered into with respect to such documentation which will continue to have effect following the Effective Time.
Factual confirmations. The Lessee confirms to the New Lessor on the date hereof and at the Effective Time (but, in respect of the Effective Time, subject to any qualifications noted in the Effective Time Notice): no [Event of Default] has occurred and is continuing under the Lease; no [[Event of Loss]/[Total Loss]] with respect to the [Airframe] or any Engine has occurred; and no damage has occurred to the Aircraft resulting in repair costs in excess of the [Damage Notification Threshold]. The Lessee and the Existing Lessor confirm to the New Lessor that the documentation listed in Schedule 1 (The Lease) hereto constitutes the entire agreement between the Lessee and the Existing Lessor in relation to the leasing of the Aircraft which will continue in effect following the Effective Time and there have been no amendments, consents, waivers or modifications entered into with respect to such documentation which will continue to have effect following the Effective Time.
Factual confirmations a. The Lessee confirms to the New Lessor on the date hereof and at the Effective Time (but, in respect of the Effective Time, subject to any qualifications noted in the Effective Time Notice):
a. no Default has occurred and is continuing under the Lease; and
b. no Total Loss with respect to the Engine has occurred.
b. The Lessee and the Existing Lessor confirm to the New Lessor that the documentation listed in Schedule 1 (The Lease) hereto constitutes the entire agreement between the Lessee and the Existing Lessor in relation to the leasing of the Engine which will continue in effect following the Effective Time and there have been no amendments, consents, waivers or modifications entered into Contrail – AAA CD4.1 070121 with respect to such documentation which will continue to have effect following the Effective Time.