Common use of Xxxxxxxx's Representations, Warranties, Covenants and Undertakings Clause in Contracts

Xxxxxxxx's Representations, Warranties, Covenants and Undertakings. 9.1 The Borrower makes the following representations and warranties as of the date hereof and which representations shall continue to be made and remain true and correct on each day other than those made as of a particular date, which representations and warranties shall survive the execution of this Agreement and the making of the disbursement as provided under this Agreement till all the Loan Obligations have been repaid in full by the Borrower to the satisfaction of the Bank: (a) It has the power and authority to execute deliver and perform its obligations under the Financing Document. (b) It is in compliance with all applicable laws and has obtained all clearances and authorisations. (c) Each of the Financing Document when executed by the Borrower constitutes legal, valid and binding obligations of the Borrower, enforceable in accordance with its terms (d) The execution and performance of the financing documents do not conflict any other agreements / applicable laws/ its constitutional documents. (e) Save as permitted under the Financing Documents, no encumbrance or Security Interest exists or will exist over any of the assets secured/to be secured by the Borrower (f) No event of default has occurred or will occur upon execution of / disbursement under the financing documents. (g) All information provided to the Bank is true and correct. (h) The financial statement delivered to the Bank are its most recent and prepared in accordance with applicable laws and generally acceptable accounting principles. There has been no material change in the financial condition or the operations of the Borrower from the date on which such financial statements were prepared or drawn up (i) Save and except as otherwise provided in the Financing Documents, its Loan Obligations under the Financing Documents rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by Applicable Law (j) No litigation / arbitration proceedings exists which will have a material adverse effect. (k) It does not have any right of immunity from legal proceedings or under contract (l) No action has been taken (voluntary or involuntary) for its liquidation / insolvency/restructuring, including under the Insolvency and Bankruptcy Code, 2016. (m) It has good and marketable title to its assets over which Security is to be created. (n) It has obtained and is validly maintaining all insurances and reinsurances in respect of all its assets in accordance with the Applicable Law. (o) There are no facts or circumstances, conditions or occurrences which could collectively or otherwise be expected to result in a Material Adverse Effect. (p) It hereby agrees and undertakes that no such person whose name is appearing in the list of Xxxxxx defaulters by RBI/CIC/ in any caution list, shall be inducted on its board and that in case, such a person is found to be on its Board, it would take expeditious and effective steps for removal of such person from its Board. (q) All its arrangements with third parties are on arm length basis. (r) The Borrower is not affected by any fire, floods, storm, earthquake, embargo, act of God or of the public enemy or other events (whether or not covered by insurance) that could reasonably be expected to have a Material Adverse Effect. (s) No director of the Bank is a director, manager, managing agent, employee or guarantor of the Borrower, or of a subsidiary or holding company or other group companies of the Borrower or holds substantial interest, in the Borrower or a subsidiary or the holding company or any other group company of the Borrower. No directors / relative of any other banks or financial institutions holds substantial interest or is interested as director or as a guarantor of the Borrower

Xxxxxxxx's Representations, Warranties, Covenants and Undertakings. 9.1 With a view to induce the Bank to grant the Loan to him, the Borrower, hereby represents/warrants to/ covenants/ undertakes with the Bank that the Borrower – a) has furnished complete and accurate information and details to the Bank about himself and the Property and no vital information has been omitted to be stated b) has been duly formed and has the power to carry on the its business as it is now being carried on and to own its property and assets and has the power to borrow the Loans; c) shall make available to the Bank such security (including mortgage over the Property) in such form and substance as may be required by the Bank; d) is absolutely seized and possessed with and sufficiently entitled to the Property and shall not sell, surrender or howsoever alienate the property or part thereof; e) has entered into and/or taken steps to enter into a valid and binding Lease Agreement and shall ensure that the Lease Agreement is neither terminated nor modified without the prior written consent of the Bank. f) agrees that the Bank shall have the unconditional and uninterrupted right to appropriate the Lease Receivables received under Lease Agreement and the same shall be credited to the Designated Account to be opened for this purpose with the Bank towards the installment payable by the Borrower as per the Repayment Schedule towards repayment of the Term Loan granted by the Bank to the Borrower along with interest, costs, charges and expenses. g) agrees not to assign the Lease Receivables to anyone else till the entire Term Loan with interest is paid in full. The Borrower makes shall credit the following representations said Receivables (net of TDS if any) in a separate account designated for the purpose and warranties as the EMI of the date hereof advance shall be first recovered from the said account. The Borrower shall utilize the balance amount, if any, in the said account after the repayment of EMI. h) agrees and which representations confirms that if the Lease Agreement is terminated by the Lessee or by operation of law or by any force majeure event or due to any other event, the Borrower shall continue ensure to forthwith inform the Bank and may with the prior approval of the Bank, have the right to lease out the premises forthwith to a Lessee. In such an event the said Lease receivables shall be made and remain true and correct on each day other than those made as of a particular date, which representations and warranties shall survive deemed to have been assigned/ hypothecated/ charged to the execution Bank by virtue of this Agreement and all the making terms and conditions as agreed to in terms of this Agreement shall be applicable mutatis mutandis. Notwithstanding the above, the Bank shall have the right to demand payment of the disbursement as provided under this Agreement till all the Loan Obligations have been repaid in full by the Borrower to the satisfaction of the Bank: (a) It has the power and authority to execute deliver and perform its obligations under the Financing Documentbalance outstanding forthwith. (bi) It is in compliance with all applicable laws and shall ensure to obtain necessary NOC from Xxxxxx stating that the Lessee has obtained all clearances and authorisations. (c) Each of no objection to assign the Financing Document when executed by the Borrower constitutes legal, valid and binding obligations of the Borrower, enforceable in accordance with its terms (d) The execution and performance of the financing documents do not conflict any other agreements / applicable laws/ its constitutional documents. (e) Save as permitted under the Financing Documents, no encumbrance or Security Interest exists or will exist over any of the assets secured/Lease receivables due to be secured by the Borrower (f) No event of default has occurred or will occur upon execution of / disbursement under the financing documents. (g) All information provided to the Bank is true and correct. (h) The financial statement delivered to the Bank are its most recent and prepared in accordance with applicable laws and generally acceptable accounting principles. There has been no material change in the financial condition or the operations of the Borrower from the date on which such financial statements were prepared or drawn upLessee directly to the Bank as a security for the due repayment of the Borrower’s dues to the Bank. (i) Save and except as otherwise provided in the Financing Documents, its Loan Obligations under the Financing Documents rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by Applicable Law (j) No litigation / arbitration proceedings exists which will have a material adverse effect.shall make available to the Bank such security (including mortgage over the Property) in such form and substance as may be required by the Bank; (k) It does is absolutely seized and possessed with and sufficiently entitled to the Property and shall not have any right of immunity from legal proceedings sell, dispose off, surrender or under contracthowsoever alienate the property or part thereof; (l) No action has been taken (voluntary or involuntary) for its liquidation / insolvency/restructuringshall always have until all his dues hereunder are not repaid to the Bank, including under the Insolvency and Bankruptcy Code, 2016. (m) It has good a clear and marketable title to its assets over which Security is to be created. the Property, free from all encumbrances whatsoever m) has no major pending claims demands litigation or proceedings against him before any court or authority (n) It has obtained and is validly maintaining all insurances and reinsurances in respect of all its assets in accordance with the Applicable Law. (o) There are no facts public or circumstances, conditions or occurrences which could collectively or otherwise be expected to result in a Material Adverse Effect. (p) It hereby agrees and undertakes that no such person whose name is appearing in the list of Xxxxxx defaulters by RBI/CIC/ in any caution list, shall be inducted on its board and that in case, such a person is found to be on its Board, it would take expeditious and effective steps for removal of such person from its Board. (q) All its arrangements with third parties are on arm length basis. (r) The Borrower is not affected by any fire, floods, storm, earthquake, embargo, act of God or of the public enemy or other events (whether or not covered by insurance) that could reasonably be expected to have a Material Adverse Effect. (s) No director of the Bank is a director, manager, managing agent, employee or guarantor of the Borrower, or of a subsidiary or holding company or other group companies of the Borrower or holds substantial interest, in the Borrower or a subsidiary or the holding company or any other group company of the Borrower. No directors / relative of any other banks or financial institutions holds substantial interest or is interested as director or as a guarantor of the Borrowerprivate);

Xxxxxxxx's Representations, Warranties, Covenants and Undertakings. 9.1 With a view to induce the Bank to grant the Loan to him, the Borrower, hereby represents/warrants to/ covenants/ undertakes with the Bank that the Borrower – a) has furnished complete and accurate information and details to the Bank about himself and the Property and no vital information has been omitted to be stated b) has been duly formed and has the power to carry on the its business as it is now being carried on and to own its property and assets and has the power to borrow the Loans; c) shall make available to the Bank such security (including mortgage over the Property) in such form and substance as may be required by the Bank; d) is absolutely seized and possessed with and sufficiently entitled to the Property and shall not sell, surrender or howsoever alienate the property or part thereof; e) has entered into and/or taken steps to enter into a valid and binding Lease Agreement and shall ensure that the Lease Agreement is neither terminated nor modified without the prior written consent of the Bank. f) agrees that the Bank shall have the unconditional and uninterrupted right to appropriate the Lease Receivables received under Lease Agreement and the same shall be credited to the Designated Account to be opened for this purpose with the Bank towards the installment payable by the Borrower as per the Repayment Schedule towards repayment of the Term Loan granted by the Bank to the Borrower along with interest, costs, charges and expenses. g) agrees not to assign the Lease Receivables to anyone else till the entire Term Loan with interest is paid in full. The Borrower makes shall credit the following representations said Receivables (net of TDS if any) in a separate account designated for the purpose and warranties as the EMI of the date hereof advance shall be first recovered from the said account. The Borrower shall utilize the balance amount, if any, in the said account after the repayment of EMI. h) agrees and which representations confirms that if the Lease Agreement is terminated by the Lessee or by operation of law or by any force majeure event or due to any other event, the Borrower shall continue ensure to forthwith inform the Bank and may with the prior approval of the Bank, have the right to lease out the premises forthwith to a Lessee. In such an event the said Lease receivables shall be made and remain true and correct on each day other than those made as of a particular date, which representations and warranties shall survive deemed to have been assigned/ hypothecated/ charged to the execution Bank by virtue of this Agreement and all the making terms and conditions as agreed to in terms of this Agreement shall be applicable mutatis mutandis. Notwithstanding the above, the Bank shall have the right to demand payment of the disbursement as provided under this Agreement till all the Loan Obligations have been repaid in full by the Borrower to the satisfaction of the Bank: (a) It has the power and authority to execute deliver and perform its obligations under the Financing Documentbalance outstanding forthwith. (bi) It is in compliance with all applicable laws and shall ensure to obtain necessary NOC from Xxxxxx stating that the Lessee has obtained all clearances and authorisations. (c) Each of no objection to assign the Financing Document when executed by the Borrower constitutes legal, valid and binding obligations of the Borrower, enforceable in accordance with its terms (d) The execution and performance of the financing documents do not conflict any other agreements / applicable laws/ its constitutional documents. (e) Save as permitted under the Financing Documents, no encumbrance or Security Interest exists or will exist over any of the assets secured/Lease receivables due to be secured by the Borrower (f) No event of default has occurred or will occur upon execution of / disbursement under the financing documents. (g) All information provided to the Bank is true and correct. (h) The financial statement delivered to the Bank are its most recent and prepared in accordance with applicable laws and generally acceptable accounting principles. There has been no material change in the financial condition or the operations of the Borrower from the date on which such financial statements were prepared or drawn upLessee directly to the Bank as a security for the due repayment of the Borrower’s dues to the Bank. (i) Save and except as otherwise provided in the Financing Documents, its Loan Obligations under the Financing Documents rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by Applicable Law (j) No litigation / arbitration proceedings exists which will have a material adverse effect.shall make available to the Bank such security (including mortgage over the Property) in such form and substance as may be required by the Bank; (k) It does is absolutely seized and possessed with and sufficiently entitled to the Property and shall not have any right of immunity from legal proceedings sell, dispose off, surrender or under contracthowsoever alienate the property or part thereof; (l) No action has been taken (voluntary or involuntary) for its liquidation / insolvency/restructuringshall always have until all his dues hereunder are not repaid to the Bank, including under the Insolvency and Bankruptcy Code, 2016. (m) It has good a clear and marketable title to its assets over which Security is to be created. the Property, free from all encumbrances whatsoever m)has no major pending claims demands litigation or proceedings against him before any court or authority (n) It has obtained and is validly maintaining all insurances and reinsurances in respect of all its assets in accordance with the Applicable Law. (o) There are no facts public or circumstances, conditions or occurrences which could collectively or otherwise be expected to result in a Material Adverse Effect. (p) It hereby agrees and undertakes that no such person whose name is appearing in the list of Xxxxxx defaulters by RBI/CIC/ in any caution list, shall be inducted on its board and that in case, such a person is found to be on its Board, it would take expeditious and effective steps for removal of such person from its Board. (q) All its arrangements with third parties are on arm length basis. (r) The Borrower is not affected by any fire, floods, storm, earthquake, embargo, act of God or of the public enemy or other events (whether or not covered by insurance) that could reasonably be expected to have a Material Adverse Effect. (s) No director of the Bank is a director, manager, managing agent, employee or guarantor of the Borrower, or of a subsidiary or holding company or other group companies of the Borrower or holds substantial interest, in the Borrower or a subsidiary or the holding company or any other group company of the Borrower. No directors / relative of any other banks or financial institutions holds substantial interest or is interested as director or as a guarantor of the Borrowerprivate);

Xxxxxxxx's Representations, Warranties, Covenants and Undertakings. 9.1 With a view to induce the Bank to grant the Loan to him, the Borrower, hereby represents/warrants to/ covenants/ undertakes with the Bank that the Borrower – a) has furnished complete and accurate information and details to the Bank about himself and the Property and no vital information has been omitted to be stated b) has been duly formed and has the power to carry on the its business as it is now being carried on and to own its property and assets and has the power to borrow the Loans; c) shall make available to the Bank such security (including mortgage over the Property) in such form and substance as may be required by the Bank; d) is absolutely seized and possessed with and sufficiently entitled to the Property and shall not sell, surrender or howsoever alienate the property or part thereof; e) has entered into and/or taken steps to enter into a valid and binding Lease Agreement and shall ensure that the Lease Agreement is neither terminated nor modified without the prior written consent of the Bank. f) agrees that the Bank shall have the unconditional and uninterrupted right to appropriate the Lease Receivables received under Lease Agreement and the same shall be credited to the Designated Account to be opened for this purpose with the Bank towards the installment payable by the Borrower as per the Repayment Schedule towards repayment of the Term Loan granted by the Bank to the Borrower along with interest, costs, charges and expenses. g) agrees not to assign the Lease Receivables to anyone else till the entire Term Loan with interest is paid in full. The Borrower makes shall credit the following representations said Receivables (net of TDS if any) in a separate account designated for the purpose and warranties as the EMI of the date hereof advance shall be first recovered from the said account. The Borrower shall utilize the balance amount, if any, in the said account after the repayment of EMI. h) agrees and which representations confirms that if the Lease Agreement is terminated by the Lessee or by operation of law or by any force majeure event or due to any other event, the Borrower shall continue ensure to forthwith inform the Bank and may with the prior approval of the Bank, have the right to lease out the premises forthwith to a Lessee. In such an event the said Lease receivables shall be made and remain true and correct on each day other than those made as of a particular date, which representations and warranties shall survive deemed to have been assigned/ hypothecated/ charged to the execution Bank by virtue of this Agreement and all the making terms and conditions as agreed to in terms of this Agreement shall be applicable mutatis mutandis. Notwithstanding the above, the Bank shall have the right to demand payment of the disbursement as provided under this Agreement till all the Loan Obligations have been repaid in full by the Borrower to the satisfaction of the Bank: (a) It has the power and authority to execute deliver and perform its obligations under the Financing Documentbalance outstanding forthwith. (bi) It is in compliance with all applicable laws and shall ensure to obtain necessary NOC from Lessee stating that the Lessee has obtained all clearances and authorisations. (c) Each of no objection to assign the Financing Document when executed by the Borrower constitutes legal, valid and binding obligations of the Borrower, enforceable in accordance with its terms (d) The execution and performance of the financing documents do not conflict any other agreements / applicable laws/ its constitutional documents. (e) Save as permitted under the Financing Documents, no encumbrance or Security Interest exists or will exist over any of the assets secured/Lease receivables due to be secured by the Borrower (f) No event of default has occurred or will occur upon execution of / disbursement under the financing documents. (g) All information provided to the Bank is true and correct. (h) The financial statement delivered to the Bank are its most recent and prepared in accordance with applicable laws and generally acceptable accounting principles. There has been no material change in the financial condition or the operations of the Borrower from the date on which such financial statements were prepared or drawn upLessee directly to the Bank as a security for the due repayment of the Borrower’s dues to the Bank. (i) Save and except as otherwise provided in the Financing Documents, its Loan Obligations under the Financing Documents rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by Applicable Law (j) No litigation / arbitration proceedings exists which will have a material adverse effect.shall make available to the Bank such security (including mortgage over the Property) in such form and substance as may be required by the Bank; (k) It does is absolutely seized and possessed with and sufficiently entitled to the Property and shall not have any right of immunity from legal proceedings sell, dispose off, surrender or under contracthowsoever alienate the property or part thereof; (l) No action has been taken (voluntary or involuntary) for its liquidation / insolvency/restructuringshall always have until all his dues hereunder are not repaid to the Bank, including under the Insolvency and Bankruptcy Code, 2016. (m) It has good a clear and marketable title to its assets over which Security is to be created. the Property, free from all encumbrances whatsoever m)has no major pending claims demands litigation or proceedings against him before any court or authority (n) It has obtained and is validly maintaining all insurances and reinsurances in respect of all its assets in accordance with the Applicable Law. (o) There are no facts public or circumstances, conditions or occurrences which could collectively or otherwise be expected to result in a Material Adverse Effect. (p) It hereby agrees and undertakes that no such person whose name is appearing in the list of Xxxxxx defaulters by RBI/CIC/ in any caution list, shall be inducted on its board and that in case, such a person is found to be on its Board, it would take expeditious and effective steps for removal of such person from its Board. (q) All its arrangements with third parties are on arm length basis. (r) The Borrower is not affected by any fire, floods, storm, earthquake, embargo, act of God or of the public enemy or other events (whether or not covered by insurance) that could reasonably be expected to have a Material Adverse Effect. (s) No director of the Bank is a director, manager, managing agent, employee or guarantor of the Borrower, or of a subsidiary or holding company or other group companies of the Borrower or holds substantial interest, in the Borrower or a subsidiary or the holding company or any other group company of the Borrower. No directors / relative of any other banks or financial institutions holds substantial interest or is interested as director or as a guarantor of the Borrowerprivate);