Warranties of the Borrower. The Borrower expressly warrants as follows:
Warranties of the Borrower. 4.1 The Borrower hereby warrants to the Secured Party that:
Warranties of the Borrower. 6.1 The Borrower hereby warrants and undertakes to BANK as follows: a Confirmation of loan application The Borrower confirms the accuracy of the information given in his/her application made to Bank and prior of subsequent information or explanation given to Bank in this behalf.
Warranties of the Borrower. The Borrower represents and -------------------------- warrants that (a) the proceeds of the sale of any property underlying each Acceptance transaction will forthwith be applied in liquidation of such Acceptance; (b) the total amount of each Acceptance shall at no time exceed the lesser of (1) the amount contracted for in any bona fide transaction (other than ---- ---- a transaction between the Borrower and the agent(s) of the Borrower) with respect to such property, or (2) the amount necessary to effect the importation, exportation or domestic shipment of goods or the storage of readily marketable staples; (c) each Draft shall have matured within one hundred eighty (180) days and the period from acceptance to maturity shall be related to the transaction being financed such that it finances a "current shipment" as defined by the Federal Reserve Board; (d) any document accompanying a Draft will, when delivered to the Bank, be genuine, valid and correct in all material respects; (e) no other financing will be in effect or will be sought with respect to any transaction relating to a Draft; and (f) the Borrower shall have, or with the proceeds of each Acceptance will forthwith obtain, good title, free of all liens and claims other than those possessed by the Bank, to any documents and property related to an Acceptance, and shall have the right and power to give the Bank a security interest therein, and will hold any such documents and property not delivered to the Bank and any proceeds thereof in trust for the Bank as its property.
Warranties of the Borrower. The Borrower represents and warrants and so long as the Secured Obligations remain unpaid shall be deemed continuously to represent and warrant that: (a) each item constituting Collateral is genuine and in all respects what it purports to be; (b) the Borrower is the owner of the Collateral free of all security interests or other encumbrances except the Security Interest; (c) the Borrower is authorized to enter into this Pledge Agreement; (d) the Borrower owns 100% of the outstanding membership interests or shares of capital stock, as the case may be, of each Issuer (as defined herein) subject to no options, voting trusts, proxy rights or similar agreements, and all such shares and interests are included in the Collateral pledged hereunder; and (e) the shares of capital stock and the membership interests pledged herein have not been certificated.
Warranties of the Borrower are true and accurate in all material respects on and as of the proposed date for the making of such Loan.
