REPRESENTATION BY THE BORROWER. The Borrower hereby declares, represents and warrants on a continuing basis that:
a) Borrower is aware that RCFL is granting the said Loan on the basis of the Loan Application made by him/her/it for purchase of the said Vehicle/ Hypothecated Assets and on the faith of the representations made by the Borrower and believing the same to be true;
b) That all the necessary approvals for availing of the said Loan have been obtained and that the Borrower will at all times till the amounts due to RCFL are paid in full and the said Loan are fully repaid, keep all such permissions valid and subsisting.
c) The officer of the Borrowers executing this agreement and the documents executed in pursuance hereof, are duly and properly in office and fully authorised to execute the same.
d) This Agreement and the documents to be executed in pursuance hereof, when executed and delivered, will constitute valid and binding obligations of the Borrower;
e) It has not taken any corporate action nor have any steps been taken or legal proceedings been initiated or threatened against the Borrower for its winding up, dissolution, administration, reorganization or for appointment of receiver, administrator of the Borrower or all or any of its assets or undertakings;
f) As of the date of this Agreement, there is no litigation, proceedings or disputes pending or threatened against the Borrower, the adverse determination of which might substantially affect the Borrower's ability to repay the Loan as described in the Schedule hereto or have a materially adverse effect on the financial condition of the Borrower;
g) The execution and delivery of this Agreement and the performance of its obligations hereunder does not:
i) Contravene any applicable law, statute or regulation or any judgment or decree to which the Borrower is subject.
ii) Conflict or result in any breach of any covenants, conditions and stipulation under any existing agreement, to which the Borrower is a party.
iii) Conflict or contravene any provision of the Memorandum and Articles of Association of the Borrower;
h) There has been no material adverse change in the financial condition of the Borrower, nor has any event which is prejudicial to the interest of RCFL taken place since the date of latest audited financials of the Borrower which is likely to materially and/ or adversely affect the liability of the Borrower to perform all or any of the obligations under this Agreement.
i) The Borrower shall be exclusively responsible f...
