Common use of Representations and Warranties of Borrowers Clause in Contracts

Representations and Warranties of Borrowers. In order to induce the Lenders to enter into this Amendment, each of the Borrowers represents and warrants to Lenders that: (i) The representations and warranties contained in Section 5 of the Credit Agreement are true and correct at and as of the time of the effectiveness hereof. (ii) Such Borrower is authorized to execute and deliver this Amendment and such Borrower is and will continue to be duly authorized to borrow and to perform its obligations under the Credit Agreement. Such Borrower has duly taken all action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of such Borrower hereunder. (iii) The execution and delivery by such Borrower of this Amendment, the performance by such Borrower of its obligations hereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provisions of law, statute, rule or regulation or of the certificate of incorporation and bylaws or certificate of limited partnership and agreement of limited partnership, as applicable, of such Borrower, or of any material agreement, judgment, license, order or permit applicable to or binding upon such Borrower, or result in the creation of any lien, charge or encumbrance upon any assets or properties of such Borrower. Except for those which have been duly obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by such Borrower of this Amendment or to consummate the transactions contemplated hereby. (iv) When duly executed and delivered, each of this Amendment and the Credit Agreement will be a legal and binding instrument and agreement of such Borrower, enforceable in accordance with their terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors’ rights generally and by principles of equity applying to creditors’ rights generally.

Appears in 2 contracts

Samples: Credit Agreement (El Paso Exploration & Production Co), Credit Agreement (El Paso Exploration & Production Co)

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Representations and Warranties of Borrowers. In order to induce the Lenders Bank to enter into this Amendment, each of the Borrowers Borrower represents and warrants to Lenders Bank that: (ia) The representations and warranties contained in Section 5 3 of the Original Credit Agreement are true and correct at and as of the time of the effectiveness hereof.; (iib) Such Each Borrower is duly authorized to execute and deliver this Amendment and such Borrower is and will continue to be duly authorized to borrow and to perform its obligations under the Original Credit Agreement. Such Each Borrower has duly taken all corporate action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of such Borrower hereunder.; (iiic) The execution and delivery by such each Borrower of this Amendment, the performance by such each Borrower of its obligations hereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provisions provision of law, statute, rule or regulation or of the certificate articles of incorporation and bylaws or certificate of limited partnership and agreement of limited partnership, as applicable, of such Borrower, or of any material agreement, judgment, license, order or permit applicable to or binding upon such Borrower, or result in the creation of any lien, charge or encumbrance upon any assets or properties of such Borrower. Except for those which have been duly obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by such Borrower Borrowers of this Amendment or to consummate the transactions contemplated hereby.; and (ivd) When duly executed and delivered, each of this Amendment and the Credit Agreement will be a legal and binding instrument and agreement of such BorrowerBorrowers, enforceable in accordance with their its terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors' rights generally and by principles of equity applying to creditors' rights generally.

Appears in 1 contract

Samples: Revolving Credit Agreement (M I Homes Inc)

Representations and Warranties of Borrowers. In order to induce the Lenders Bank to enter into this Amendment, each of the Borrowers Borrower represents and warrants to Lenders Bank that: (ia) The representations and warranties contained in Section 5 3 of the Original Credit Agreement are true and correct at and as of the time of the effectiveness hereof.; (iib) Such Each Borrower is duly authorized to execute and deliver this Amendment and such Borrower is and will continue to be duly authorized to borrow and to perform its obligations under the Original Credit AgreementAgreement and the Renewal Note. Such Each Borrower has duly taken all corporate action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of such Borrower hereunder.hereunder and thereunder; (iiic) The execution and delivery by such each Borrower of this Amendment, the performance by such each Borrower of its obligations hereunder and thereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provisions provision of law, statute, rule or regulation or of the certificate articles of incorporation and bylaws or certificate of limited partnership and agreement of limited partnership, as applicable, of such Borrower, or of any material agreement, judgment, license, order or permit applicable to or binding upon such Borrower, or result in the creation of any lien, charge or encumbrance upon any assets or properties of such Borrower. Except for those which have been duly obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by such Borrower Borrowers of this Amendment or to consummate the transactions contemplated hereby.hereby and thereby; and (ivd) When duly executed and delivered, each of this Amendment and the Credit Agreement will be a legal and binding instrument and agreement of such BorrowerBorrowers, enforceable in accordance with their its terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors' rights generally and by principles of equity applying to creditors' rights generally.

Appears in 1 contract

Samples: Revolving Credit Agreement (M I Homes Inc)

Representations and Warranties of Borrowers. In order to induce the Lenders Bank to enter into this Amendment, each of the Borrowers Borrower represents and warrants to Lenders Bank that: (ia) The representations and warranties contained in Section 5 3 of the Original Credit Agreement are true and correct at and as of the time of the effectiveness hereof.; (iib) Such Each Borrower is duly authorized to execute and deliver this Amendment and such Borrower is and will continue to be duly authorized to borrow and to perform its obligations under the Original Credit Agreement. Such Each Borrower has duly taken all corporate action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of such Borrower hereunder.hereunder and thereunder; (iiic) The execution and delivery by such each Borrower of this Amendment, the performance by such each Borrower of its obligations hereunder and thereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provisions provision of law, statute, rule or regulation or of the certificate articles of incorporation and bylaws or certificate of limited partnership and agreement of limited partnership, as applicable, of such Borrower, or of any material agreement, judgment, license, order or permit applicable to or binding upon such Borrower, or result in the creation of any lien, charge or encumbrance upon any assets or properties of such Borrower. Except for those which have been duly obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by such Borrower Borrowers of this Amendment or to consummate the transactions contemplated hereby.hereby and thereby; and (ivd) When duly executed and delivered, each of this Amendment and the Credit Agreement will be a legal and binding instrument and agreement of such BorrowerBorrowers, enforceable in accordance with their its terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors' rights generally and by principles of equity applying to creditors' rights generally.

Appears in 1 contract

Samples: Revolving Credit Agreement (M I Homes Inc)

Representations and Warranties of Borrowers. In order to induce the Lenders to enter into this Amendment, each of the Borrowers represents and warrants to Lenders that: (i) The representations and warranties contained in Section 5 of the Credit Agreement are true and correct in all material respects at and as of the time of the effectiveness hereof. (ii) Such Borrower is authorized to execute and deliver this Amendment and such Borrower is and will continue to be duly authorized to borrow and to perform its obligations under the Credit Agreement. Such Borrower has duly taken all action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of such Borrower hereunder. (iii) The execution and delivery by such Borrower of this Amendment, the performance by such Borrower of its obligations hereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provisions of law, statute, rule or regulation or of the certificate of incorporation and bylaws or certificate of limited partnership and agreement of limited partnership, as applicable, of such Borrower, or of any material agreement, judgment, license, order or permit applicable to or binding upon such Borrower, or result in the creation of any lien, charge or encumbrance upon any assets or properties of such Borrower. Except for those which have been duly obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by such Borrower of this Amendment or to consummate the transactions contemplated hereby. (iv) When duly executed and delivered, each of this Amendment and the Credit Agreement will be a legal and binding instrument and agreement of such Borrower, enforceable in accordance with their terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors’ rights generally and by principles of equity applying to creditors’ rights generally.

Appears in 1 contract

Samples: Credit Agreement (El Paso Exploration & Production Co)

Representations and Warranties of Borrowers. In order to induce the Lenders Bank to enter into this Amendment, each of the Borrowers Borrower represents and warrants to Lenders Bank that: (ia) The representations and warranties contained in Section Article 5 of the Credit Original Agreement are true and correct at and as of the time of the effectiveness hereof. (iib) Such Each Borrower is duly authorized to execute and deliver this Amendment and such Borrower is and will continue to be duly authorized to borrow and to perform its obligations under the Credit Loan Agreement. Such Each Borrower has duly taken all corporate action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of such Borrower hereunder. (iiic) The execution and delivery by such Borrower Borrowers of this Amendment, the performance by such Borrower Borrowers of its their obligations hereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provisions provision of law, statute, rule or regulation or of the certificate organizational documents of incorporation and bylaws or certificate of limited partnership and agreement of limited partnership, as applicable, of such BorrowerBorrowers, or of any material agreement, judgment, license, order or permit applicable to or binding upon such BorrowerBorrowers, or result in the creation of any lien, charge or encumbrance upon any assets or properties of such BorrowerBorrowers. Except for those which have been duly obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by such Borrower Borrowers of this Amendment or to consummate the transactions contemplated hereby. (ivd) When duly executed and delivered, each of this Amendment and the Credit Loan Agreement will be a legal and binding instrument and agreement of such BorrowerBorrowers, enforceable in accordance with their its terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors' rights generally and by principles of equity applying to creditors' rights generally.

Appears in 1 contract

Samples: Loan and Security Agreement (Pfsweb Inc)

Representations and Warranties of Borrowers. In order to induce the Lenders to enter into this AmendmentWaiver and Consent, each of the Borrowers represents and warrants to the Lenders that: (ia) The representations and warranties contained in Section 5 of the Credit Agreement are true and correct at and as of the time of the effectiveness hereof. (iib) Such Borrower is authorized to execute and deliver this Amendment Waiver and Consent and such Borrower is and will continue to be duly authorized to borrow and to perform its obligations under the Credit Agreement. Such Borrower has duly taken all action necessary to authorize the execution and delivery of this Amendment Waiver and Consent and to authorize the performance of the obligations of such Borrower hereunder. (iiic) The execution and delivery by such Borrower of this AmendmentWaiver and Consent, the performance by such Borrower of its obligations hereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provisions of law, statute, rule or regulation or of the certificate of incorporation and bylaws or certificate of limited partnership and agreement of limited partnership, as applicable, of such Borrower, or of any material agreement, judgment, license, order or permit applicable to or binding upon such Borrower, or result in the creation of any lien, charge or encumbrance upon any assets or properties of such Borrower. Except for those which have been duly obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by such Borrower of this Amendment Waiver and Consent or to consummate the transactions contemplated hereby. (ivd) When duly executed and delivered, each of this Amendment Waiver and Consent and the Credit Agreement will be a legal and binding instrument and agreement of such Borrower, enforceable in accordance with their terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors’ rights generally and by principles of equity applying to creditors’ rights generally.

Appears in 1 contract

Samples: Waiver and Consent (El Paso Exploration & Production Co)

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Representations and Warranties of Borrowers. In order to induce the Lenders Lender to enter into this Amendment, each of the Borrowers Borrower represents and warrants to Lenders Lender that: (ia) The representations and warranties contained in Section 5 Article IV of the Original Credit Agreement are true and correct at and as of the time of the effectiveness hereof.; (iib) Such Each Borrower is duly authorized to execute and deliver this Amendment and such Borrower the other Amendment Documents and is and will continue to be duly authorized to borrow and to perform its obligations under the Credit Agreement. Such Each Borrower has duly taken all corporate action necessary to authorize the execution and delivery of this Amendment and the other Amendment Documents and to authorize the performance of the obligations of such Borrower hereunder.hereunder and thereunder; (iiic) The execution and delivery by such each Borrower of this AmendmentAmendment and the other Amendment Documents, the performance by such Borrower of its obligations hereunder and thereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provisions provision of law, statute, rule or regulation or of the certificate articles of incorporation and bylaws or certificate of limited partnership and agreement of limited partnership, as applicable, of such Borrower, or of any material agreement, judgment, license, order or permit applicable to or binding upon such Borrower, or result in the creation of any lien, charge or encumbrance upon any assets or properties of such Borrower. Except for those which have been duly obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by such either Borrower of this Amendment and the other Amendment Documents or to consummate the transactions contemplated hereby. (iv) When duly executed hereby and delivered, each of this Amendment and the Credit Agreement will be a legal and binding instrument and agreement of such Borrower, enforceable in accordance with their terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors’ rights generally and by principles of equity applying to creditors’ rights generally.thereby;

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

Representations and Warranties of Borrowers. In order to induce the Lenders to enter into this Amendment, each of the Borrowers represents and warrants to Lenders that: (ia) The representations and warranties contained in Section 5 of the Credit Agreement are true and correct at and as of the time of the effectiveness hereof, except for the noncompliance with the terms of the Credit Agreement as described above. (iib) Such Borrower is authorized to execute and deliver this Amendment and such Borrower is and will continue to be duly authorized to borrow and to perform its obligations under the Credit Agreement. Such Borrower has duly taken all action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of such Borrower hereunder. (iiic) The execution and delivery by such Borrower of this Amendment, the performance by such Borrower of its obligations hereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provisions of law, statute, rule or regulation or of the certificate of incorporation and bylaws or certificate of limited partnership and agreement of limited partnership, as applicable, of such Borrower, or of any material agreement, judgment, license, order or permit applicable to or binding upon such Borrower, or result in the creation of any lien, charge or encumbrance upon any assets or properties of such Borrower. Except for those which have been duly obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by such Borrower of this Amendment or to consummate the transactions contemplated hereby. (iv) When duly executed and delivered, each of this Amendment and the Credit Agreement will be a legal and binding instrument and agreement of such Borrower, enforceable in accordance with their terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors’ rights generally and by principles of equity applying to creditors’ rights generally.

Appears in 1 contract

Samples: Credit Agreement (El Paso Corp/De)

Representations and Warranties of Borrowers. In order to induce the Lenders Bank to enter into this Amendment, each of the Borrowers Borrower represents and warrants to Lenders Bank that: (ia) The representations and warranties contained in Section 5 3 of the Original Credit Agreement are true and correct at and as of the time of the effectiveness hereof.; (iib) Such Each Borrower is duly authorized to execute and deliver this Amendment and such Borrower is and will continue to be duly authorized to borrow and to perform its obligations under the Original Credit Agreement. Such Each Borrower has duly taken all corporate action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of such Borrower hereunder.hereunder and thereunder; (iiic) The execution and delivery by such each Borrower of this Amendment, the performance by such each Borrower of its obligations hereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provisions provision of law, statute, rule or regulation or of the certificate articles of incorporation and bylaws or certificate of limited partnership and agreement of limited partnership, as applicable, of such Borrower, or of any material agreement, judgment, license, order or permit applicable to or binding upon such Borrower, or result in the creation of any lien, charge or encumbrance upon any assets or properties of such Borrower. Except for those which have been duly obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by such Borrower Borrowers of this Amendment or to consummate the transactions contemplated hereby.; and (ivd) When duly executed and delivered, each of this Amendment and the Credit Agreement will be a legal and binding instrument and agreement of such BorrowerBorrowers, enforceable in accordance with their its terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors' rights generally and by principles of equity applying to creditors' rights generally.

Appears in 1 contract

Samples: Revolving Credit Agreement (M I Homes Inc)

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