We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Representations and Warranties of the Town Clause in Contracts

Representations and Warranties of the Town. The Town hereby represents and warrants as follows: (a) The representations and warranties contained in Section 8 of the Contract are hereby made and reaffirmed by the Town on and as of the date hereof, and all references to Contract therein shall include this First Amendment. (b) There has been no material adverse change in the condition, financial or otherwise, of the Town since the date of the most recent financial reports of the Town received by the Bank. (c) No event has occurred and no condition exists which, either prior to or upon the consummation of the transactions contemplated hereby, constitutes an Event of Default under the Contract, either immediately or with the lapse of time or the giving of notice, or both. (d) The execution and delivery by the Town of this First Amendment and performance of its obligations hereunder will not cause any material violation or default under any indenture, loan agreement or other agreement of, or applicable to, the Town. (e) The Town has the power and authority to execute, deliver and perform its obligations under this First Amendment. This First Amendment has been duly authorized, executed and delivered by the Town and constitutes a valid, binding and enforceable obligation of the Town in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting enforcement of creditors’ rights generally and by general equitable principles. (f) The Town hereby represents that the Project has been completed and has been occupied by the Town for the purposes described herein.

Appears in 2 contracts

Samples: Installment Financing Contract, Installment Financing Contract

AutoNDA by SimpleDocs

Representations and Warranties of the Town. The Town hereby represents makes the following representations and warrants as followswarranties: (ai) The representations Redevelopment Plan has been duly adopted in compliance with all applicable laws and warranties contained is currently in Section 8 of the Contract are hereby made full force and reaffirmed by the Town on and as of the date hereof, and all references to Contract therein shall include this First Amendmenteffect. (bii) There The Town has been no material adverse change in the conditionlegal power, financial or otherwiseright, of and authority to enter into this PFA and the instruments and documents referenced herein to which the Town since the date of the most recent financial reports of the Town received by the Bank. (c) No event has occurred and no condition exists whichis a Party, either prior to or upon the consummation of consummate the transactions contemplated hereby, constitutes an Event of Default under the Contractto take any steps or actions contemplated hereby, either immediately or with the lapse of time or the giving of notice, or bothand to perform its obligations hereunder and has duly executed this PFA. (diii) The execution and delivery All requisite action has been taken by the Town and all requisite consents have been obtained in connection with the entering into this PFA, including, without limitation, adoption of this First Amendment the Bond Resolution, final adoption of the Bond ordinance(s), and performance any additional official actions of the Town required to issue the Public Improvement Bonds pursuant to the terms of the Bond Resolution, and the instruments and documents referenced herein to which the Town is a Party and the consummation of the transaction contemplated hereby, and, to the best of the Town's knowledge and belief, all such requisite actions and consents are authorized by all applicable laws. The Town represents that to the best of its obligations hereunder will not cause any material violation or default under any indentureknowledge and belief, loan agreement or other agreement ofthere are no writs, injunctions, orders, or applicable to, decrees of any court or governmental body that would be violated by the Town. (e) The Town has the power and authority to execute, deliver and perform entering into or performing its obligations under this First Amendment. PFA. (iv) This First Amendment PFA has been duly authorized, executed and delivered by the Town Town, is valid and constitutes a validlegally binding upon the Town, binding and enforceable obligation of the Town in accordance with its termsterms pursuant to all applicable laws, except as enforcement and the execution and delivery thereof may be limited by bankruptcydoes not constitute a default under or violate the terms of any indenture, insolvencyagreement, reorganization, moratorium or other similar laws affecting enforcement of creditors’ rights generally and instrument to which the Town is a Party or by general equitable principleswhich it is bound. (fv) The Town hereby represents that to the Project has been completed best of its knowledge and has been occupied by belief, there is no action, proceeding or investigation now pending or threatened, nor any basis therefor, known or believed to exist which questions the Town for the purposes described hereinvalidity of this PFA.

Appears in 1 contract

Samples: Public Improvement Financing Agreement

AutoNDA by SimpleDocs

Representations and Warranties of the Town. The Town hereby represents makes the following representations and warrants as followswarranties: (a) The representations Town is a municipal corporation, duly organized and warranties contained in Section 8 existing under the laws of the Contract are hereby made State, and reaffirmed by as such, has the legal power, right and authority pursuant to the Redevelopment Law to enter into this Redevelopment Agreement and the instruments and documents referenced herein to which the Town on and as of the date hereofis a party, and all references to Contract therein shall include this First Amendment. (b) There has been no material adverse change in the condition, financial or otherwise, of the Town since the date of the most recent financial reports of the Town received by the Bank. (c) No event has occurred and no condition exists which, either prior to or upon the consummation of consummate the transactions contemplated hereby, constitutes an Event to take any steps or actions contemplated hereby, and to perform its obligations hereunder; (b) The Town has authorized the execution of Default under this Redevelopment Agreement by resolution, and this Redevelopment Agreement has been duly executed by the ContractTown, either immediately or and is valid and legally binding upon the Town and enforceable in accordance with its terms on the lapse basis of time laws presently in effect and the execution and delivery thereof shall not, with due effect and the execution and delivery thereof shall not, with due notice or the giving passage of noticetime, constitute a default under or both.violate the terms of any indenture, agreement or other instrument to which the Town is a party; (c) To the best of the Town’s knowledge, there are no writs, injunctions, orders or decrees of any court or governmental body that would be violated by the Town entering into or performing its obligations under this Redevelopment Agreement; (d) The execution Town represents that, to the best of its knowledge and delivery belief, after diligent inquiry, there is no action, proceeding or investigation now pending, known or believed to exist which questions the validity of the Redevelopment Plan or this Redevelopment Agreement or any action or act taken or to be taken by the Town of this First Amendment and performance of its obligations hereunder will not cause any material violation pursuant to the Redevelopment Plan or default under any indenture, loan agreement or other agreement of, or applicable to, the Town.Redevelopment Agreement; and (e) The Town has uses of the power and authority to executeProject Area, deliver and perform its obligations under as contemplated by this First Amendment. This First Amendment has been duly authorizedRedevelopment Agreement, executed and delivered are authorized by the Town Redevelopment Law, Applicable Laws and constitutes a valid, binding and enforceable obligation of the Town in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting enforcement of creditors’ rights generally and by general equitable principlesRedevelopment Plan. (f) The Town hereby represents that the Project has been completed and has been occupied by the Town for the purposes described herein.

Appears in 1 contract

Samples: Redevelopment Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!