Merchant Representations and Warranties. a. You represent and warrant to Parafin that as of the Effective Date, and until full payment of the total Specified Amount and payment of the Capital Fee, except as referenced below: i. Merchant will, at all times, have the power and authority to enter into and perform its duties and obligations under this Agreement. You have any documents required to facilitate the transactions contemplated by this Agreement. You have taken all necessary action to authorize their respective execution and delivery of, and performance under, this Agreement. You are not a party to any contract or aware of any existing situation that would prevent You from entering into or performing Your obligations under this Agreement. ii. Should the undersigned be a representative of the Merchant, said representative warrants, in executing this Agreement, that they are authorized on behalf of the Merchant to do so, are at least 18 years of age, and have the legal capacity and all necessary authority to bind Merchant to this Agreement. iii. Your Future Receivables (x) have not been sold as of the Effective Date of this Agreement, and (y) are not subject to any claims, charges, liens, restrictions, or security interests where the third party holding a security interest in Future Receivables is currently exercising its remedies. iv. You have the requisite corporate power and authority and the legal right to own, pledge, mortgage or otherwise encumber and operate Your properties and to conduct Your business. You possess and are in compliance with all permits, licenses, approvals, consents and any other authorizations from or by, and have made all filings with, and have given all notices to, all governmental departments, commissions, boards, bureaus, agencies or instrumentalities, domestic or foreign, having jurisdiction over Merchant (together, “Governmental Authorities”), to the extent necessary to conduct Your business. Merchant is validly existing and in good standing under the laws of the jurisdiction of its incorporation, organization, or formation and is duly qualified under any applicable laws of any other jurisdiction in which Merchant does business. v. The execution of this Agreement will not conflict with (x) any applicable federal, state, or local laws or regulations, (y) any agreements to which You are a party, and (z) Your articles or certificate of incorporation, bylaws, or other organizational documents. vi. You have timely filed and paid, and will timely file and pay, all federal, state, local, and foreign tax returns, and tax reports. All such returns and reports are and will be true, correct, and complete. vii. You have no material liabilities that would prevent You from performing or satisfying Your obligations under this Agreement and, to the best of Your knowledge, know of no material contingent liabilities, except current liabilities incurred in the ordinary course of business, that would prevent You from performing or satisfying Your obligations under this Agreement. Notwithstanding the foregoing, any material liabilities arising out of or related to an event of Credit Risk are excluded from this obligation. viii. Your performance under this Agreement does not and will not conflict with other agreements to which You are a party or beneficiary. Additionally, Your performance under this Agreement will not result in (i) any violation or default of other agreements; (ii) any entitlement of any person or entity to receipt of notice or right of consent; (iii) a right of termination, cancellation, guaranteed rights, or acceleration of any obligation or to loss of a benefit; or (iv) the creation of any claim on the properties or assets of Merchant. ix. There is no action, suit, claim, investigation, or legal, administrative, or arbitration proceeding (excluding any actions arising out of or related to an event of Credit Risk) pending or currently in existence, filed, or threatened (whether at law or in equity) or before any Governmental Authority against Merchant. x. Merchant has not declared bankruptcy within the past seven years and as of the Effective Date of this Agreement is not currently contemplating the filing of a bankruptcy proceeding or closing or materially modifying Merchant's business. As of the Effective Date of this Agreement Merchant is solvent and financially capable of fulfilling its obligations under this Agreement. xi. No agreement has been made under which the Platform may claim any deduction, garnishment, or discount against the Future Receivables. xii. Merchant is in compliance with all applicable laws, statutes, rules, regulations, orders, or restrictions, including those of all applicable Governmental Authorities. xiii. Merchant has applied for a capital advance solely for business purposes and not for personal, family or household use. Any Capital Amount extended under this Agreement, including any Boost, is solely for business purposes and not for personal, family or household use. Additionally, Your Linked Bank Account(s) was(were) not established for personal, family, or household purposes.
Appears in 2 contracts
Samples: Merchant Capital Advance Agreement, Merchant Capital Advance Agreement
Merchant Representations and Warranties. a. You represent and warrant to Parafin that as of the Effective Date, and until full payment of the total Specified Amount and payment of the Capital Fee, except as referenced below:
i. Merchant will, at all times, have the power and authority to enter into and perform its duties and obligations under this Agreement. You have any documents required to facilitate the transactions contemplated by this Agreement. You have taken all necessary action to authorize their respective execution and delivery of, and performance under, this Agreement. You are not a party to any contract or aware of any existing situation that would prevent You from entering into or performing Your obligations under this Agreement.
ii. Should the undersigned be a representative of the Merchant, said representative warrants, in executing this Agreement, that they are authorized on behalf of the Merchant to do so, are at least 18 years of age, and have the legal capacity and all necessary authority to bind Merchant to this Agreement.
iii. Your Future Receivables (x) have not been sold as of the Effective Date of this Agreement, and (y) are not subject to any claims, charges, liens, restrictions, or security interests where the third party holding a security interest in Future Receivables is currently exercising its remedies.
iv. You have the requisite corporate power and authority and the legal right to own, pledge, mortgage or otherwise encumber and operate Your properties and to conduct Your business. You possess and are in compliance with all permits, licenses, approvals, consents and any other authorizations from or by, and have made all filings with, and have given all notices to, all governmental departments, commissions, boards, bureaus, agencies or instrumentalities, domestic or foreign, having jurisdiction over Merchant (together, “Governmental Authorities”), to the extent necessary to conduct Your business. Merchant is validly existing and in good standing under the laws of the jurisdiction of its incorporation, organization, or formation and is duly qualified under any applicable laws of any other jurisdiction in which Merchant does business.
v. The execution of this Agreement will not conflict with (x) any applicable federal, state, or local laws or regulations, (y) any agreements to which You are a party, and (z) Your articles or certificate of incorporation, bylaws, or other organizational documents.
vi. You have timely filed and paid, and will timely file and pay, all federal, state, local, and foreign tax returns, and tax reports. All such returns and reports are and will be true, correct, and complete.
vii. You have no material liabilities that would prevent You from performing or satisfying Your obligations under this Agreement and, to the best of Your knowledge, know of no material contingent liabilities, except current liabilities incurred in the ordinary course of business, that would prevent You from performing or satisfying Your obligations under this Agreement. Notwithstanding the foregoing, any material liabilities arising out of or related to an event of Credit Risk are excluded from this obligation.
viii. Your performance under this Agreement does not and will not conflict with other agreements to which You are a party or beneficiary. Additionally, Your performance under this Agreement will not result in (i) any violation or default of other agreements; (ii) any entitlement of any person or entity to receipt of notice or right of consent; (iii) a right of termination, cancellation, guaranteed rights, or acceleration of any obligation or to loss of a benefit; or (iv) the creation of any claim on the properties or assets of Merchant.
ix. There is no action, suit, claim, investigation, or legal, administrative, or arbitration proceeding (excluding any actions arising out of or related to an event of Credit Risk) pending or currently in existence, filed, or threatened (whether at law or in equity) or before any Governmental Authority against Merchant.
x. Merchant has not declared bankruptcy within the past seven years and as of the Effective Date of this Agreement is not currently contemplating the filing of a bankruptcy proceeding or closing or materially modifying Merchant's business. As of the Effective Date of this Agreement Merchant is solvent and financially capable of fulfilling its obligations under this Agreement.
xi. No agreement has been made under which the Platform may claim any deduction, garnishment, or discount against the Future Receivables.
xii. Merchant is in compliance with all applicable laws, statutes, rules, regulations, orders, or restrictions, including those of all applicable Governmental Authorities.
xiii. Merchant has applied for a capital advance solely for business purposes and not for personal, family or household use. Any Capital Amount extended under this Agreement, including any Boost, is solely for business purposes and not for personal, family or household use. Additionally, Your Linked Bank Account(s) was(were) not established for personal, family, or household purposes.or
Appears in 1 contract
Samples: Merchant Capital Advance Agreement
Merchant Representations and Warranties. a. You represent and warrant to Parafin that as of the Effective Date, and until full payment of the total Specified Amount and payment of the Capital Fee, except as referenced below:
i. (i) Merchant will, at all times, have the power and authority to enter into and perform its duties and obligations under this Agreement. You have any documents required to facilitate the transactions contemplated by this Agreement. You have taken all necessary action to authorize their respective execution and delivery of, and performance under, this Agreement. You are not a party to any contract or aware of any existing situation that would prevent You from entering into or performing Your obligations under this Agreement.
ii. (j) Should the undersigned be a representative of the Merchant, said representative warrants, in executing this Agreement, that they are authorized on behalf of the Merchant to do so, are at least 18 years of age, and have the legal capacity and all necessary authority to bind Merchant to this Agreement.
iii. (k) Your Future Receivables (xi) have not been sold as of the Effective Date of this Agreement, and (yii) are not subject to any claims, charges, liens, restrictions, or security interests where the third party holding a security interest in Future Receivables is currently exercising its remedies.
iv. (l) You have the requisite corporate power and authority and the legal right to own, pledge, mortgage or otherwise encumber and operate Your properties and to conduct Your business. You possess and are in compliance with all permits, licenses, approvals, consents and any other authorizations from or by, and have made all filings with, and have given all notices to, all governmental departments, commissions, boards, bureaus, agencies or instrumentalities, domestic or foreign, having jurisdiction over Merchant (together, “Governmental Authorities”), to the extent necessary to conduct Your business. Merchant is validly existing and in good standing under the laws of the jurisdiction of its incorporation, organization, or formation and is duly qualified under any applicable laws of any other jurisdiction in which Merchant does business.
v. (m) The execution of this Agreement will not conflict with (xi) any applicable federal, stateprovincial, territorial or local laws or regulations, (yii) any agreements to which You are a party, and (ziii) Your articles or certificate of incorporation, bylaws, or other organizational documents.
vi. (n) You have timely filed and paid, and will timely file and pay, all federal, stateprovincial, territorial, local, and foreign tax returns, and tax reports. All such returns and reports are and will be true, correct, and complete.
vii. (o) You have no material liabilities that would prevent You from performing or satisfying Your obligations under this Agreement and, to the best of Your knowledge, know of no material contingent liabilities, except current liabilities incurred in the ordinary course of business, that would prevent You from performing or satisfying Your obligations under this Agreement. Notwithstanding the foregoing, any material liabilities arising out of or related to an event of Credit Risk are excluded from this obligation.
viii. (p) Your performance under this Agreement does not and will not conflict with other agreements to which You are a party or beneficiary. Additionally, Your performance under this Agreement will not result in in: (i) any violation or default of other agreements; (ii) any entitlement of any person or entity to receipt of notice or right of consent; (iii) a right of termination, cancellation, guaranteed rights, or acceleration of any obligation or to loss of a benefit; or (iv) the creation of any claim on the properties or assets of Merchant.
ix. (q) There is no action, suit, claim, investigation, or legal, administrative, or arbitration proceeding (excluding any actions arising out of or related to an event of Credit Risk) pending or currently in existence, filed, or threatened (whether at law or in equity) or before any Governmental Authority against Merchant.
x. (r) Merchant has not declared bankruptcy within the past seven years and as of the Effective Date of this Agreement is not currently contemplating the filing of a bankruptcy proceeding or closing or materially modifying Merchant's business. As of the Effective Date of this Agreement Merchant is solvent and financially capable of fulfilling its obligations under this Agreement.
xi. (s) No agreement has been made under which the Platform may claim any deduction, garnishment, or discount against the Future Receivables.
xii. (t) Merchant is in compliance with all applicable laws, statutes, rules, regulations, orders, or restrictions, including those of all applicable Governmental Authorities.
xiii. (u) Merchant has applied for a capital advance solely for business purposes and not for personal, family or household use. Any Capital Amount extended under this Agreement, including any Boost, is solely for business purposes and not for personal, family or household use. Additionally, Your Linked Bank Account(s) was(werewas (were) not established for personal, family, or household purposes.
Appears in 1 contract
Samples: Merchant Capital Advance Agreement
Merchant Representations and Warranties. a. You represent and warrant to Parafin that as of the Effective Date, Origination Date and until full payment repayment of the total Specified Amount and payment of the Capital Fee, except as referenced belowTotal Repayment Amount:
i. Merchant will, at all times, You have the power and authority to enter into and perform its Xxxxxxxx's duties and obligations under this Agreement. You have any documents required to facilitate the transactions contemplated by this Agreement. You have taken all necessary action to authorize their respective execution and delivery of, and performance under, this Agreement. You are not a party to any contract or aware of any existing situation that would prevent You you from entering into or performing Your your obligations under this Agreement.
ii. Should the undersigned be a representative of the Merchant, said representative warrants, in The individual executing this Agreement, that they are Agreement is authorized on behalf of the Merchant to do so, are is at least 18 years of age, and have has the legal capacity and all necessary authority to bind Merchant to this Agreement.
iii. Your Future Merchant Receivables (x) have not been sold as of the Effective Date of this AgreementOrigination Date, and (y) are not subject to any claims, charges, liens, restrictions, restrictions or security interests where the third party holding a security interest in Future Merchant Receivables is currently exercising its remedies.
iv. You have the requisite corporate power and authority and the legal right to own, pledge, mortgage or otherwise encumber and operate Your properties and to conduct Your business. You possess and are in compliance with all permits, licenses, approvals, consents and any other authorizations from or by, and have made all filings with, and have given all notices to, all governmental departments, commissions, boards, bureaus, agencies or instrumentalities, domestic or foreign, having jurisdiction over Merchant (together, “Governmental Authorities”), to the extent necessary to conduct Your business. Merchant is validly existing and in good standing under the laws of the jurisdiction of its incorporation, organization, or formation and is duly qualified under any applicable laws of any other jurisdiction in which Merchant does your business.
v. The execution of this Agreement will not conflict with (x) any applicable federal, state, or local laws or regulations, (y) any agreements to which You you are a party, and (z) Your your articles or certificate of incorporation, bylaws, or other organizational documents.
vi. You possess all requisite permits, authorizations and licenses to own, operate, and lease your properties and to conduct the business in which it is presently engaged.
vii. You have timely filed and paid, and will timely file and pay, all federal, state, local, and foreign tax returns, returns and tax reports. All such returns and reports are and will be true, correct, and complete.
viiviii. You have no material liabilities that would prevent You you from performing or satisfying Your your obligations under this Agreement and, to the best of Your your knowledge, know of no material contingent liabilities, except current liabilities incurred in the ordinary course of business, that would prevent You you from performing or satisfying Your your obligations under this Agreement. Notwithstanding the foregoing, any material liabilities arising out of or related to an event of Credit Risk are excluded from this obligation.
viiiix. Your performance under this Agreement does not and will not conflict with other agreements to which You you are a party or beneficiary. Additionally, Your your performance under this Agreement will not result in (i) any violation or default of other agreements; (ii) any entitlement of any person or entity to receipt of notice or right of consent; (iii) a right of termination, cancellation, guaranteed rights, or acceleration of any obligation or to loss of a benefit; or (iv) the creation of any claim on the properties or assets of Merchant.
ix. x. There is no action, suit, claim, investigation, or legal, administrative, or arbitration proceeding (excluding any actions arising out of or related to an event of Credit Risk) pending or currently in existence, filed, or threatened (whether at law or in equity) or before any Governmental Authority against Merchant.
x. xi. Merchant has not declared bankruptcy within the past seven years and as of the Effective Date of this Agreement is not currently contemplating the filing of a bankruptcy proceeding or closing or materially modifying Merchant's business. As of the Effective Date of this Agreement Merchant is solvent and financially capable of fulfilling its obligations under this Agreement.
xixii. No agreement has been made Merchant is validly existing and in good standing under which the Platform may claim any deduction, garnishment, or discount against the Future Receivablesapplicable laws of Merchant’s state of organization.
xiixiii. Merchant is in compliance with all applicable laws, statutes, rules, regulations, orders, or restrictions, including those of all applicable Governmental Authorities.
xiiixiv. Merchant has applied You are applying for a capital advance credit solely for business purposes and not for personal, family or household use. Any Capital Amount credit extended under this Agreement, including any Boostthe Loan Amount, is solely for business purposes and not for personal, family or household use. Additionally, Your your Linked Bank Account(s) was(were) Account was not established primarily for personal, family, or household purposes.
xv. You, your Principal Owners, and your employees are not currently and will not become subject to a U.S. Office of Foreign Asset Control list, or any law, regulation, or other list of any government agency that prohibits or limits us from providing Accounts or Cards to you or from otherwise conducting business with you.
xvi. You will not sell or transfer your business to another owner while your Loan is outstanding without the explicit consent of Xxxxxxx in writing from an authorized representative with the requisite authority to grant such consent. You will not need to obtain Xxxxxxx's prior written consent should you pay off your Loan in full prior to any sale or transfer of your business.
Appears in 1 contract
Samples: Loan Agreement
Merchant Representations and Warranties. a. You represent and warrant to Parafin that as of the Effective Date, Origination Date and until full payment repayment of the total Specified Amount and payment of the Capital Fee, except as referenced belowTotal Repayment Amount:
i. Merchant will, at all times, You have the power and authority to enter into and perform its Xxxxxxxx's duties and obligations under this Agreement. You have any documents required to facilitate the transactions contemplated by this Agreement. You have taken all necessary action to authorize their respective execution and delivery of, and performance under, this Agreement. You are not a party to any contract or aware of any existing situation that would prevent You you from entering into or performing Your your obligations under this Agreement.
ii. Should the undersigned be a representative of the Merchant, said representative warrants, in The individual executing this Agreement, that they are Agreement is authorized on behalf of the Merchant to do so, are is at least 18 years of age, and have has the legal capacity and all necessary authority to bind Merchant to this Agreement.
iii. Your Future Merchant Receivables (x) have not been sold as of the Effective Date of this AgreementOrigination Date, and (y) are not subject to any claims, charges, liens, restrictions, restrictions or security interests where the third party holding a security interest in Future Merchant Receivables is currently exercising its remedies.
iv. You have the requisite corporate power and authority and the legal right to own, pledge, mortgage or otherwise encumber and operate Your properties and to conduct Your business. You possess and are in compliance with all permits, licenses, approvals, consents and any other authorizations from or by, and have made all filings with, and have given all notices to, all governmental departments, commissions, boards, bureaus, agencies or instrumentalities, domestic or foreign, having jurisdiction over Merchant (together, “Governmental Authorities”), to the extent necessary to conduct Your business. Merchant is validly existing and in good standing under the laws of the jurisdiction of its incorporation, organization, or formation and is duly qualified under any applicable laws of any other jurisdiction in which Merchant does your business.
v. The execution of this Agreement will not conflict with (x) any applicable federal, state, or local laws or regulations, (y) any agreements to which You you are a party, and (z) Your your articles or certificate of incorporation, bylaws, or other organizational documents.
vi. You possess all requisite permits, authorizations and licenses to own, operate, and lease your properties and to conduct the business in which it is presently engaged.
vii. You have timely filed and paid, and will timely file and pay, all federal, state, local, and foreign tax returns, returns and tax reports. All such returns and reports are and will be true, correct, and complete.
viiviii. You have no material liabilities that would prevent You you from performing or satisfying Your your obligations under this Agreement and, to the best of Your your knowledge, know of no material contingent liabilities, except current liabilities incurred in the ordinary course of business, that would prevent You you from performing or satisfying Your your obligations under this Agreement. Notwithstanding the foregoing, any material liabilities arising out of or related to an event of Credit Risk are excluded from this obligation.
viiiix. Your performance under this Agreement does not and will not conflict with other agreements to which You you are a party or beneficiary. Additionally, Your your performance under this Agreement will not result in in
(i) any violation or default of other agreements; (ii) any entitlement of any person or entity to receipt of notice or right of consent; (iii) a right of termination, cancellation, guaranteed rights, or acceleration of any obligation or to loss of a benefit; or (iv) the creation of any claim on the properties or assets of Merchant.
ix. x. There is no action, suit, claim, investigation, or legal, administrative, or arbitration proceeding (excluding any actions arising out of or related to an event of Credit Risk) pending or currently in existence, filed, or threatened (whether at law or in equity) or before any Governmental Authority against Merchant.
x. xi. Merchant has not declared bankruptcy within the past seven years and as of the Effective Date of this Agreement is not currently contemplating the filing of a bankruptcy proceeding or closing or materially modifying Merchant's business. As of the Effective Date of this Agreement Merchant is solvent and financially capable of fulfilling its obligations under this Agreement.
xixii. No agreement has been made Merchant is validly existing and in good standing under which the Platform may claim any deduction, garnishment, or discount against the Future Receivablesapplicable laws of Merchant’s state of organization.
xiixiii. Merchant is in compliance with all applicable laws, statutes, rules, regulations, orders, or restrictions, including those of all applicable Governmental Authorities.
xiiixiv. Merchant has applied You are applying for a capital advance credit solely for business purposes and not for personal, family or household use. Any Capital Amount credit extended under this Agreement, including any Boostthe Loan Amount, is solely for business purposes and not for personal, family or household use. Additionally, Your your Linked Bank Account(s) was(were) Account was not established primarily for personal, family, or household purposes.
xv. You, your Principal Owners, and your employees are not currently and will not become subject to a U.S. Office of Foreign Asset Control list, or any law, regulation, or other list of any government agency that prohibits or limits us from providing Accounts or Cards to you or from otherwise conducting business with you.
xvi. You will not sell or transfer your business to another owner while your Loan is outstanding without the explicit consent of Xxxxxxx in writing from an authorized representative with the requisite authority to grant such consent. You will not need to obtain Xxxxxxx's prior written consent should you pay off your Loan in full prior to any sale or transfer of your business.
Appears in 1 contract
Samples: Loan Agreement
Merchant Representations and Warranties. a. You represent and warrant to Parafin that as of the Effective Date, Origination Date and until full payment repayment of the total Specified Amount and payment of the Capital Fee, except as referenced belowTotal Repayment Amount:
i. Merchant will, at all times, You have the power and authority to enter into and perform its duties and obligations under this Agreement. You have any documents required to facilitate the transactions contemplated by this Agreement. You have taken all necessary action to authorize their respective execution and delivery of, and performance under, this Agreement. You are not a party to any contract or aware of any existing situation that would prevent You you from entering into or performing Your your obligations under this Agreement.
ii. Should the undersigned be a representative of the Merchant, said representative warrants, in The individual executing this Agreement, that they are Agreement is authorized on behalf of the Merchant to do so, are is at least 18 years of age, and have has the legal capacity and all necessary authority to bind Merchant to this Agreement.
iii. Your Future Receivables (x) have not been sold as of the Effective Date of this Agreement, and (y) are not subject to any claims, charges, liens, restrictions, or security interests where the third party holding a security interest in Future Receivables is currently exercising its remedies.
iv. You have the requisite corporate power and authority and the legal right to own, pledge, mortgage or otherwise encumber and operate Your properties and to conduct Your business. You possess and are in compliance with all permits, licenses, approvals, consents and any other authorizations from or by, and have made all filings with, and have given all notices to, all governmental departments, commissions, boards, bureaus, agencies or instrumentalities, domestic or foreign, having jurisdiction over Merchant (together, “Governmental Authorities”), to the extent necessary to conduct Your business. Merchant is validly existing and in good standing under the laws of the jurisdiction of its incorporation, organization, or formation and is duly qualified under any applicable laws of any other jurisdiction in which Merchant does your business.
v. iv. The execution of this Agreement will not conflict with (xi) any applicable federal, state, or local laws or regulations, (yii) any agreements to which You you are a party, and (ziii) Your your articles or certificate of incorporation, bylaws, or other organizational documents.
v. You possess all requisite permits, authorizations and licenses to own, operate and lease your properties and to conduct the business in which it is presently engaged.
vi. You have timely filed and paid, time and will timely file and pay, pay all federal, state, local, and foreign tax returns, returns and tax reports. All such returns and reports are and will be true, correct, correct and complete.
vii. You have no material liabilities that would prevent You from performing your ability to perform or satisfying Your satisfy your obligations under this Agreement and, to the best of Your your knowledge, know of no material contingent liabilities, except current liabilities incurred in the ordinary course of business, that would prevent You from performing your ability to perform or satisfying Your satisfy your obligations under this Agreement. Notwithstanding the foregoing, any material liabilities arising out of or related to an event of Credit Risk are excluded from this obligation.
viii. Your performance under this Agreement does not and will not conflict with other agreements to which You you are a party or beneficiary. Additionally, Your your performance under this Agreement will not result in (i) any violation or default of other agreements; (ii) any entitlement of any person or entity to receipt of notice or right of consent; (iii) a right of termination, cancellation, guaranteed rights, rights or acceleration of any obligation or to loss of a benefit; or (iv) the creation of any claim on the properties or assets of Merchant.
ix. There is no action, suit, claim, investigation, or legal, administrative, or arbitration proceeding (excluding any actions arising out of or related to an event of Credit Risk) pending or currently in existence, filed, or threatened (whether at law or in equity) or before any Governmental Authority against Merchant.
x. Merchant has not declared bankruptcy within the past seven years and as of the Effective Date of this Agreement is not currently contemplating the filing of a bankruptcy proceeding or closing or materially modifying Merchant's business. As of the Effective Date of this Agreement Merchant is solvent and financially capable of fulfilling its obligations under this Agreement.
xi. No agreement has been made under which the Platform may claim any deduction, garnishment, or discount against the Future Receivables.
xii. Merchant is in compliance with all applicable laws, statutes, rules, regulations, orders, or restrictions, including those of all applicable Governmental Authorities.
xiii. Merchant has applied for a capital advance solely for business purposes and not for personal, family or household use. Any Capital Amount extended under this Agreement, including any Boost, is solely for business purposes and not for personal, family or household use. Additionally, Your Linked Bank Account(s) was(were) not established for personal, family, or household purposes.
Appears in 1 contract
Samples: Loan Agreement
