Representation by Borrower Clause Samples
The 'representation-by-borrower' clause requires the borrower to make specific statements or assurances about their status, condition, or actions at the time of entering into a contract, typically a loan agreement. These representations may include affirmations that the borrower is legally authorized to enter the agreement, is not in default under other obligations, and that all provided information is accurate and complete. By including this clause, lenders gain confidence in the borrower's reliability and the accuracy of disclosed information, thereby reducing the risk of misrepresentation and supporting informed lending decisions.
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Representation by Borrower. The Borrower represents and warrants that except as heretofore disclosed in writing to the Banks, (i) after giving effect to the amendments and waiver contained herein, no Default has occurred and is continuing, and (ii) since June 30, 1998, there has been no material adverse change in the business, financial position, results of operations of the Coventry Group, considered as a whole.
Representation by Borrower. Each Borrowing under this Agreement shall be deemed to be a representation and warranty by the Borrower on the date of such Borrowing as to the facts specified in subsections (b), (c) and (d) of Section 3.02.
Representation by Borrower. The Borrower shall notify the Bank in writing regarding the change of its name, legal representative, legal address, business scope within 5 working days since such change is registered with local authority.
Representation by Borrower. 35 SECTION 3.04.
Representation by Borrower. The Borrower shall notify the Bank of any corporate change in writing 30 days advance, including restructuring, merger, demerger, establishing a joint venture, assets transfer, etc., which may affect the obligations under the contract and the interest of the Bank. The Borrower may not take the above mentioned actions without written approval of such changes by the Bank.
Representation by Borrower. 37 SECTION 3.04. Transitional Provisions.............................. 37 -------- *The Table of Contents is not a part of this Agreement.
Representation by Borrower. Borrower represents and warrants that:
(a) Borrower is, and at all times hereafter shall be, a stock corporation duly organized, existing and in good standing under the laws of the State of Connecticut.
(b) The undersigned officer of the Borrower has all requisite power and authority to execute and deliver the Loan Documents and this Agreement. Borrower has the right and power and is duly authorized and empowered to enter into, execute, deliver and perform the Loan Documents and this Agreement.
(c) Borrower has not executed any prior assignment or pledge of the Collateral, nor are its rights encumbered with respect to the Collateral, except for the Parity Obligations.
(d) Borrower has and at all times hereafter shall have good, indefeasible and merchantable title to and ownership of the Collateral, free and clear of all liens, claims, security interests and encumbrances except those of Lender and the Parity Obligations.
(e) The execution, delivery or performance by Borrower of the Loan Documents and this Agreement shall not, by the lapse of time, by giving of notice or otherwise, constitute a violation of any applicable law or a breach of any provision contained in the Corporate By-laws or any agreement, instrument or document to which Borrower is now or hereafter becomes a party by which it is or may become bound.
(f) Borrower’s right to collect the Collateral is valid and enforceable and unmodified except as limited by the Corporate By-laws and to the best of Borrower’s knowledge determined after reasonable due diligence, no customer has any defenses to any claim by Borrower for Water Service Charges.
(g) The Corporate By-laws are valid and enforceable.
(h) Borrower has not done anything inconsistent with the terms of this Security Agreement which might prevent Lender from or limit Lender in exercising its rights herein granted.
(i) Secured party has and will continue to have a first priority perfected security interest in the Collateral subject to no other liens or encumbrances, except the Parity Obligations
Representation by Borrower. The Borrower shall: notify the Bank of any change of its directors or shareholders, revision or amendment of its business license and articles of association, and make sure such change, revision or amendment will not cause adverse impact on the interest of the Bank; not pledge the outstanding receivables in favour of any third party without approval by the Bank; notify the Bank immediately of any event that will affect the capability of the Borrower or guarantors to perform the obligations under the loan agreement and related documents. Security Borrower shall provide RMB 3,000,000 as deposit with the Bank which will be released to Borrower if the first 6 repayments by the Borrower are duly made. Individual guarantee is also required. Period of Credit 3 years commencing from the date the loan is paid to the Borrower.