Representations; Negative Covenants Clause Samples
The 'Representations; Negative Covenants' clause serves to outline the statements of fact and ongoing obligations that a party makes to another, as well as specific actions the party agrees not to take. In practice, representations are assurances about the current state of affairs, such as confirming compliance with laws or the absence of legal disputes, while negative covenants restrict certain behaviors, like prohibiting the sale of assets or incurring additional debt without consent. This clause is essential for allocating risk and ensuring that parties maintain certain standards and refrain from activities that could undermine the agreement's purpose.
Representations; Negative Covenants. (a) The Authority hereby makes the following representations and warranties to the Trustee on which the Trustee relies in authenticating the Notes and on which the Noteholders have relied in purchasing the Notes. Such representations and warranties shall survive the transfer and assignment of the Trust Estate to the Trustee.
Representations; Negative Covenants. (a) The Issuer hereby makes the following representations and warranties to the Secured Party, the Guarantor and the Creditors on which the Secured Party relies in accepting the Trust Estate and authenticating the Notes and the Loan Notes and on which the Creditors have relied in entering into the related Note Purchase Agreement or the Loan Agreement, as applicable. Such representations and warranties shall survive the transfer and assignment of the Trust Estate to the Secured Party.
Representations; Negative Covenants. (a) The Issuer hereby makes the following representations and warranties to the Indenture Trustee on which the Indenture Trustee relies in authenticating the Series 2004-2 Notes and on which the Registered Owners have relied in purchasing the Series 2004-2 Notes. Such representations and warranties shall survive the grant of the Trust Estate to the Indenture Trustee pursuant to this Indenture.
Representations; Negative Covenants. (a) The Issuer hereby makes the following representations and warranties to the Indenture Trustee on which the Indenture Trustee relies in authenticating the Notes and on which the Noteholders have relied in purchasing the Notes. Such representations and warranties shall survive the grant of the Trust Estate to the Indenture Trustee pursuant to this Indenture.
Representations; Negative Covenants. (a) The Issuer hereby makes the following representations and warranties to the Trustee on which the Trustee relies in authenticating the Notes and on which the Registered Owners have relied in purchasing the Notes. Such representations and warranties shall survive the transfer and assignment of the Trust Estate to the Trustee.