Common use of Representations of Obligors Clause in Contracts

Representations of Obligors. Each Obligor represents that: (a) Existence, power and authority: it is incorporated, has full power to enter into and comply with its obligations under the Loan Agreement and/or the Security Documents and has taken all corporate and other action and obtained all consents needed to enable it to do so; (b) Obligations enforceable: its obligations under the Loan Agreement and/or the Security Documents are legal, valid, binding and enforceable in accordance with their respective terms, subject to equitable principles and insolvency laws of general application;