Common use of Undertaking and Affirmative Covenants Clause in Contracts

Undertaking and Affirmative Covenants. 12.1 The Customer undertakes: (a) to ratify and confirm all acts done or caused to be done on the Customer’s behalf in relation to a Transaction or Services entered into pursuant to the terms of this Agreement; (b) if required by the Bank at any time and from time to time, to execute, sign, seal and deliver such additional documentation, agreements or deeds in furtherance of the purpose and transactions contemplated by this Agreement and to procure the execution of the same by any third party; (c) that the Customer will comply in all material aspects with all Applicable Laws, the non- compliance of which may affect its ability, authority or capacity to perform its obligations under this Agreement or any Transactions entered into pursuant to this Agreement. In this connection, the Customer undertakes to obtain all necessary approvals, authorisations and do all necessary filing in order to perform its obligations under this Agreement or any Transaction; (d) that the Customer will forthwith notify the Bank of the occurrence of any Event of Default or the occurrence of any event which or with the passage of time or the giving of notice would constitute an Event of Default; (e) the operation and maintenance of each Account shall be in accordance with the relevant laws, regulations, guidelines and directives on international and domestic transactions by whatever name called issued by Bank Negara Malaysia, which is currently the Foreign Exchange Notices, as may be amended or supplemented from time to time; (f) not to sell, transfer, assign, encumber or otherwise create any security interest over, dispose of or otherwise deal with the Collateral without the Bank’s prior written consent; and (g) to promptly inform the Bank in writing of any change in: (i) the Customer’s particulars, circumstances, including any change in citizenship, residence, tax residency, address on record, telephone and facsimile numbers and email addresses; and (ii) where, applicable, the Customer’s constitution, shareholders, partners, directors or company secretary, or the nature of the Customer’s business.

Undertaking and Affirmative Covenants. 12.1 13.1 The Customer undertakes: (a) to ratify and confirm all acts done or caused to be done on the Customer’s behalf in relation to a Transaction or Services entered into pursuant to the terms of this Agreement; (b) if required by the Bank at any time and from time to time, to execute, sign, seal and deliver such additional documentation, agreements or deeds in furtherance of the purpose and transactions contemplated by this Agreement and to procure the execution of the same by any third party; (c) that the Customer will comply in all material aspects with all Applicable Laws, the non- compliance of which may affect its ability, authority or capacity to perform its obligations under this Agreement or any Transactions entered into pursuant to this Agreement. In this connection, the Customer undertakes to obtain all necessary approvals, authorisations and do all necessary filing in order to perform its obligations under this Agreement or any Transaction; (d) that the Customer will forthwith notify the Bank of the occurrence of any Event of Default or the occurrence of any event which or with the passage of time or the giving of notice would constitute an Event of Default; (e) the operation and maintenance of each Account shall be in accordance with the relevant laws, regulations, guidelines and directives on international and domestic transactions by whatever name called issued by Bank Negara Malaysia, which is currently the Foreign Exchange Notices, as may be amended or supplemented from time to time; (f) not to sell, transfer, assign, encumber or otherwise create any security interest over, dispose of or otherwise deal with the Collateral without the Bank’s prior written consent; and (g) to promptly inform the Bank in writing of any change in: (i) the Customer’s particulars, circumstances, including any change in citizenship, residence, tax residency, address on record, telephone and facsimile numbers and email addresses; and (ii) where, applicable, the Customer’s constitution, shareholders, partners, directors or company secretary, or the nature of the Customer’s business.