Common use of REPRESENTATIONS AND WARRANTS OF THE LENDER Clause in Contracts

REPRESENTATIONS AND WARRANTS OF THE LENDER. I. The Lender represents and warrants as follows: 1. The Lender is a state-owned commercial bank or branch or legal person validly existing under the law of P.R.C and approved by the Industry and Commercial Administration and holds the financial institutions legal person licenses and financial institutions operation license to be qualified to operate financial business. 2. The Lender has taken all necessary action to authorize the execution of this contract and performance of its obligations under this contract. The Lender is duly authorized to extend this loan. II. The Lender warrants as follows: 1. The Lender shall extend the loan in accordance with the provisions set forth in this Contract. 2. Collect interests in accordance with the regulations of the Peoples Bank.

REPRESENTATIONS AND WARRANTS OF THE LENDER. I. The Lender represents and warrants as follows: 1. The Lender is a state-owned commercial bank or branch or legal person duly organized and validly existing under the law of P.R.C and approved by the Industry and Commercial Administration and holds the financial institutions legal person licenses and financial institutions operation license to be qualified to operate financial business. 2. The Lender has taken all necessary action to authorize the execution of this contract and performance of its obligations under this contract. The Lender is duly authorized to extend this loan. II. The Lender warrants as follows: 1. The Lender shall extend the loan in accordance with the provisions set forth in this Contract. 2. Collect interests in accordance with the regulations of the Peoples People's Bank.