Common use of Institution’s Representations and Warranties Concerning Collateral Clause in Contracts

Institution’s Representations and Warranties Concerning Collateral. The Institution represents and warrants to FHLBank, as of the date hereof and as of each date on which there shall be any outstanding Indebtedness or Commitment, as follows: a. The Institution owns and has title to all Collateral and has the right and authority to grant a security interest to FHLBank in all Collateral and to subject all Collateral to this Agreement. b. All Collateral that the Institution pledges to FHLBank meets the standards and requirements for Eligible Collateral from time to time established by FHLBank, the Act and the Regulations. c. The Institution has not conveyed or otherwise created, and there does not otherwise exist, any participation interest (except as permitted by the Member Products Policy) or other direct, indirect, legal or beneficial interest, lien or encumbrance, in any Collateral that the Institution has pledged to FHLBank, in favor of any person or entity other than FHLBank and the Institution, except as specifically communicated in writing to FHLBank.

Institution’s Representations and Warranties Concerning Collateral. The Institution represents and warrants to FHLBank, as of the date hereof and as of each date on which there shall be he any outstanding Indebtedness or Commitment, as follows: a. The Institution owns and has title to all Collateral and has the right and authority to grant a security interest to FHLBank in all Collateral and to subject all Collateral to this Agreement. b. All Collateral that the Institution pledges to FHLBank meets the standards and requirements for Eligible Collateral from time to time established by FHLBank, the Act and the Regulations. c. The Institution has not conveyed or otherwise created, and there does not otherwise exist, . any participation interest (except as permitted by the Member Products Policy) or other direct, indirect, legal or beneficial interest, lien or encumbrance, in any Collateral that the Institution has pledged to FHLBank, in favor of any person or entity other than FHLBank and the Institution, except as specifically communicated in writing to FHLBank.