Representations and Warranties of New Borrower. New Borrower represents and warrants to Original Borrower, Lender and HUD that: (a) New Borrower is a limited liability company, duly organized and validly existing under the laws of the State of Delaware, has all necessary licenses, authorizations, registrations and approvals, and full power and authority to enter into this Agreement and to own and lease the Project. (b) This Agreement constitutes the legal, valid and binding agreement of New Borrower, enforceable against New Borrower in accordance with its terms, subject only to (i) the effect of any bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditor’s rights generally and (ii) general principles of equity.
Appears in 9 contracts
Samples: Assumption, Modification and Release Agreement (Griffin-American Healthcare REIT II, Inc.), Assumption, Modification and Release Agreement (Griffin-American Healthcare REIT II, Inc.), Assumption, Modification and Release Agreement (Griffin-American Healthcare REIT II, Inc.)
