Common use of Representations, Covenants and Warranties of Lessee Clause in Contracts

Representations, Covenants and Warranties of Lessee. Lessee represents, covenants and warrants as follows: (a) Lessee is a political subdivision of the State, duly organized and existing under the Constitution and laws of the State. (b) Xxxxxx is authorized under the Constitution and laws of the State to enter into this Lease and the transactions contemplated hereby, and to perform all of its obligations hereunder. (c) The officer of Lessee executing this Lease has been duly authorized to execute and deliver this Lease under the terms and provisions of a resolution of Xxxxxx's governing body, or by other appropriate official action. (d) In authorizing and executing this Lease, Xxxxxx has complied with all public bidding and other State and Federal Laws applicable to this Lease and the acquisition of the Equipment by Lessee. (e) Lessee will not pledge, mortgage or assign this Lease, or its duties and obligations hereunder to any other person, firm or corporation except as provided under the terms of this Lease. (f) Lessee will use the Equipment during the Lease Term only to perform the essential governmental functions needed by City of Deadwood, South Dakota. (g) Lessee will take no action that would cause the Interest portion of the Rental Payments to become includible in gross income of the recipient for federal income tax purposes under the Internal Revenue Code of 1986 (the Code) and Treasury Regulations promulgated thereunder (the Regulations), and Lessee will take and will cause its officers, employees and agents to take all affirmative actions legally within its power necessary to ensure that the Interest portion of the Rental Payments does not become includible in gross income of the recipient for federal income tax purposes under the Code and Regulations. (h) Upon delivery and installation of the Equipment, Lessee will provide to Lessor a completed and executed copy of the Certificate of Acceptance attached hereto as Exhibit C. (i) Lessee will cause a resolution substantially in the form attached hereto as Exhibit D to be adopted by its governing body. (x) Xxxxxx will submit to the Secretary of the Treasury an information reporting statement at the time and in the form required by the Code and the Regulations.

Representations, Covenants and Warranties of Lessee. Lessee represents, covenants and warrants as follows: (a) Lessee is a political subdivision duly authorized and existing local school board in accordance with the provisions of the State, duly organized and existing under the Constitution and laws of the StateAct. (b) Xxxxxx is authorized Lessee has full power and authority to lease, operate, maintain, and acquire the Property under an option to purchase, to execute and deliver this Agreement, and perform the Constitution and laws related transactions in accordance with the provisions of the State to enter into this Lease Act and the transactions contemplated herebyother applicable New Mexico statutes, and to perform all of carry out its obligations hereunderunder this Agreement, subject to the limitations and conditions stated herein and the availability of sufficient appropriations and revenues therefor. (c) The officer of Lessee Xxxxxx's representatives executing this Lease has Agreement have been duly authorized to execute and deliver this Lease under Agreement in accordance with the terms and provisions of a resolution of duly passed and adopted by Xxxxxx's governing body, or by other appropriate official action. (d) In authorizing and executing this Lease, Xxxxxx Xxxxxx's governing body has complied fully with all public bidding the provisions in Section 22-26A-6 NMSA 1978 and other State and Federal Laws those in the Open Meetings Act, Chapter 10, Article 15 NMSA 1978 applicable to its actions with regard to this Lease Agreement and the acquisition of the Equipment by LesseeProperty through a lease purchase arrangement. (e) Lessee will shall not pledgetransfer, lease, assign, mortgage or assign encumber all or any portion of its interest under this LeaseAgreement, or its duties the Property itself, except in accordance with the terms and obligations conditions hereunder and as provided by law, including Section 22-26A-5(K) NMSA 1978 with respect to assignment of the lease purchase arrangement to any other person, firm or corporation except as provided under the terms of this Leasethird party. (f) Lessee will use and occupy the Equipment during Property for the Lease Term only to perform the essential governmental functions needed primary purpose of a public school and related activities thereto and for such other public purposes as may be authorized by City of Deadwood, South Dakotastate or federal law or as may be lawfully authorized or lawfully permitted by Xxxxxx. (g) Lessee will take no action that would conform and comply with all applicable municipal, state and federal ordinances, laws, rules and regulations in using the Property and will not use or suffer to be used the Property in any manner which contravenes any applicable municipal, state or federal ordinance, law, rule or regulation, or so as to create or cause the Interest portion of the Rental Payments to become includible in gross income of the recipient for federal income tax purposes exist a nuisance or hazardous condition under the Internal Revenue Code of 1986 (the Code) and Treasury Regulations promulgated thereunder (the Regulations), and Lessee will take and will cause its officers, employees and agents to take all affirmative actions legally within its power necessary to ensure that the Interest portion of the Rental Payments does not become includible in gross income of the recipient for federal income tax purposes under the Code and Regulationslaw. (h) Upon delivery and installation In no event shall this Agreement have a final payment date exceeding thirty (30) years after the date of the Equipment, Lessee will provide to Lessor a completed and executed copy of the Certificate of Acceptance attached hereto as Exhibit C. (i) Lessee will cause a resolution substantially in the form attached hereto as Exhibit D to be adopted by its governing body. (x) Xxxxxx will submit to the Secretary of the Treasury an information reporting statement at the time and in the form required execution by the Code and the Regulationsparties.

Representations, Covenants and Warranties of Lessee. Lessee represents, covenants and warrants as follows: (a) Lessee is a political subdivision of the State, duly organized and existing under the Constitution and laws of the State. (b) Xxxxxx is authorized under the Constitution and laws of the State to enter into this Lease and the transactions contemplated hereby, and to perform all of its obligations hereunder. (c) The officer of Lessee executing this Lease has been duly authorized to execute and deliver this Lease under the terms and provisions of a resolution of Xxxxxx's governing body, or by other appropriate official action. (d) In authorizing and executing this Lease, Xxxxxx has complied with all public bidding and other State and Federal Laws applicable to this Lease and the acquisition of the Equipment by Lessee. (e) Lessee will not pledge, mortgage or assign this Lease, or its duties and obligations hereunder to any other person, firm or corporation except as provided under the terms of this Lease. (f) Lessee will use the Equipment during the Lease Term only to perform the essential governmental functions needed by City of DeadwoodMinot, South DakotaND. (g) Lessee will take no action that would cause the Interest portion of the Rental Payments to become includible in gross income of the recipient for federal income tax purposes under the Internal Revenue Code of 1986 (the Code) and Treasury Regulations promulgated thereunder (the Regulations), and Lessee will take and will cause its officers, employees and agents to take all affirmative actions legally within its power necessary to ensure that the Interest portion of the Rental Payments does not become includible in gross income of the recipient for federal income tax purposes under the Code and Regulations. (h) Upon delivery and installation of the Equipment, Lessee will provide to Lessor a completed and executed copy of the Certificate of Acceptance attached hereto as Exhibit C. (i) Lessee will cause a resolution substantially in the form attached hereto as Exhibit D to be adopted by its governing body. (x) Xxxxxx will submit to the Secretary of the Treasury an information reporting statement at the time and in the form required by the Code and the Regulations.

Representations, Covenants and Warranties of Lessee. Lessee represents, covenants and warrants as follows: (a) Lessee is a political subdivision duly authorized and existing state-chartered charter school, in accordance with the provisions of the State, duly organized and existing under the Constitution and laws of the StateCharter Schools Act. (b) Xxxxxx is authorized Lessee has full power and authority to lease, operate, maintain, and acquire the School Site under an option to purchase, to execute and deliver this Agreement, and perform the Constitution and laws related transactions in accordance with the provisions of the State to enter into this Public School Lease Purchase Act and the transactions contemplated herebyother applicable New Mexico statutes, and to perform all of carry out its obligations hereunderunder this Agreement, subject to the limitations and conditions stated herein and the availability of sufficient appropriations and revenues therefor. (c) The officer of Lessee Xxxxxx’s representatives executing this Lease has Agreement have been duly authorized to execute and deliver this Lease under Agreement in accordance with the terms and provisions of a resolution of duly passed and adopted by Xxxxxx's ’s governing body, or by other appropriate official action. (d) In authorizing and executing this Lease, Xxxxxx Xxxxxx’s governing body has complied fully with all public bidding the provisions in Section 22-26A-6 XXXX 0000 and other State and Federal Laws those in the Open Meetings Act, Chapter 10, Article 15 XXXX 0000 applicable to its actions with regard to this Lease Agreement and the acquisition of the Equipment by LesseeSchool Site through a lease purchase arrangement. (e) Lessee will has immediate need for, and expects to make immediate use of, the School Site being leased with an option to purchase under this Agreement, which need, at the time of approval hereof, is not pledge, mortgage temporary or assign this Lease, or its duties and obligations hereunder expected to any other person, firm or corporation except as provided under diminish in the terms of this Leaseforeseeable future. (f) Lessee will use the Equipment during the Lease Term only To Lessee’s knowledge, there are no pending or threatened legal actions, suits, proceedings, or inquiries disputing Xxxxxx’s authority to execute, deliver, perform the essential governmental functions needed by City of Deadwoodon, South Dakotaor expend public funds pursuant to, this Agreement. (g) Lessee will take no action that would cause the Interest shall not transfer, lease, assign, mortgage or encumber all or any portion of its interest under this Agreement, or the Rental Payments School Site itself, except in accordance with the terms and conditions hereunder and as provided by law, including Section 22-26A-5(K) XXXX 0000 with respect to become includible in gross income assignment of the recipient for federal income tax purposes under the Internal Revenue Code of 1986 (the Code) and Treasury Regulations promulgated thereunder (the Regulations), and Lessee will take and will cause its officers, employees and agents lease purchase arrangement to take all affirmative actions legally within its power necessary to ensure that the Interest portion of the Rental Payments does not become includible in gross income of the recipient for federal income tax purposes under the Code and Regulationsany third party. (h) Upon delivery Lessee shall use and installation occupy the School Site for the primary purpose of the Equipmenta public charter school and activities related thereto, Lessee will provide to Lessor a completed and executed copy of the Certificate of Acceptance attached hereto or for such other public purposes as Exhibit C.may be authorized by state or federal law or permitted by Lessee. (i) Lessee will cause a resolution substantially shall conform and comply with all applicable municipal, state and federal ordinances, laws, rules and regulations in its use of the form attached hereto as Exhibit D School Site, and Lessee shall not use or suffer to be adopted by its governing bodyused the School Site in any manner contrary to any applicable municipal, state, or federal laws, ordinances, rules or regulations, so as to create or cause to exist any nuisance or hazardous condition. (xj) Xxxxxx will submit Lessee shall use its best efforts to purchase the School Site from Lessor with funds obtained from lease payment grant assistance from the Public School Capital Outlay Council in accordance with Section 22-24-4(I) XXXX 0000, or from other lawfully available funding sources at the earliest possible time, but in no event shall this Agreement have a final payment date exceeding thirty (30) years after the date of its execution by the parties. (k) Lessee has read and understands the covenants, conditions and restrictions contained in the U.S. Quitclaim Deed, and shall comply with and perform all obligations of Grantor under the U.S. Quitclaim Deed to the Secretary of the Treasury an information reporting statement at the time and in the form required fullest extend allowed by the Code and the Regulationsapplicable law.

Representations, Covenants and Warranties of Lessee. Lessee represents, covenants and warrants as follows: (a) Lessee is a political subdivision of the Stateand municipal corporation, duly organized and existing under the Constitution and laws of the State. (b) Xxxxxx is authorized under the Constitution and laws of the State to enter into this Lease and the transactions contemplated hereby, and to perform all of its obligations hereunder. (c) The officer of Lessee executing this Lease has been duly authorized to execute and deliver this Lease under the terms and provisions of a resolution of Xxxxxx's ’s governing body, or by other appropriate official action. (d) In authorizing and executing this Lease, Xxxxxx has complied with all open meeting laws, public bidding and other State and Federal Laws laws applicable to this Lease and the acquisition of the Equipment by LesseeXxxxxx. (e) Lessee will not pledge, mortgage or assign this Lease, or its duties and obligations hereunder to any other personPerson, firm or corporation corporation, except as provided under the terms of this Lease. (f) Lessee will use the Equipment during the Lease Term only to perform the its essential governmental functions needed by City of Deadwood, South Dakotafunctions. (g) Lessee will take no action that would cause the Interest interest portion of the Rental Lease-Purchase Payments to become includible includable in gross income of the recipient for federal income tax purposes under the Internal Revenue Code of 1986 (the “Code”) and Treasury Regulations promulgated thereunder (the “Regulations”), and Lessee will take and will cause its officers, employees and agents to take all affirmative actions legally within its power necessary to ensure that the Interest interest portion of the Rental Lease-Purchase Payments does not become includible includable in gross income of the recipient for federal income tax purposes under the Code and Regulations. (h) Upon delivery execution of this Lease-Purchase Agreement, and installation upon each request for a disbursement of the Equipmentfunds hereunder, Lessee Xxxxxx will provide to Lessor a completed and executed copy of the Certificate of Acceptance attached hereto as Exhibit C. (i) Upon the execution of this Lease, Lessee will cause a resolution substantially provide to Lessor an opinion of its legal counsel in the form attached hereto as Exhibit D to be adopted by its governing body.D. (xj) Xxxxxx Lessee will submit to the Secretary of the Treasury Internal Revenue Service an information reporting statement at the time and in the form required by the Code. (k) Lessee will cause a resolution substantially in the form attached hereto as Exhibit E to be adopted by its governing body. (l) Lessee does not reasonably anticipate that it will issue tax-exempt obligations (not including “private activity bonds” as defined in Section 141 of the Code) in an aggregate amount in excess of $10,000,000 during the calendar year in which the Term commences, and this Lease is designated as a qualified tax-exempt obligation for purposes of Section 265(b)(3) of the Code and the Regulationsrelating to deductibility of interest by financial institutions.