Borrower Representation Sample Clauses
Borrower Representation. The Borrower represents and warrants that (i) it is a statutory trust duly organized, validly existing and in good standing under the laws of its jurisdiction of organization and has all requisite power and authority as a statutory trust to enter into and perform its obligations under this Collateral Agency Agreement and each Collateral Document executed on or prior to the Closing Date, (ii) the execution, delivery and performance by it of this Collateral Agency Agreement and each such Collateral Document have been duly authorized by all necessary action on its part and (iii) this Collateral Agency Agreement and each such Collateral Document is its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as such enforceability may be limited by insolvency, bankruptcy, reorganization or other laws relating to or affecting the enforcement of creditors’ rights and by general equitable principles.
Borrower Representation. Each Borrower irrevocably appoints Union as its agent for all purposes relevant to this Agreement, including the giving and receipt of notices and execution and delivery of all documents, instruments, and certificates contemplated herein and all modifications hereto. Any acknowledgment, consent, direction, certification, or other action which might otherwise be valid or effective only if given or taken by all or any Borrower acting singly, shall be valid and effective if given or taken only by Union, whether or not any of the other Borrowers joins therein, and the Agent and the Lenders shall have no duty or obligation to make further inquiry with respect to the authority of Union under this Section 3.11, provided that nothing in this Section 3.11 shall limit the effectiveness of, or the right of the Agent and the Lenders to require and rely upon, any notice, document, instrument, certificate, acknowledgment, consent, direction, certification, or other action to be delivered by each Borrower pursuant to this Agreement. Union shall receive each Advance and shall record the same on its books and records.
Borrower Representation. The Borrower warrants and represents that the Parties have agreed upon a payment plan to secure the deficiency in such a manner that the Borrower is able to make the required payments, without creating further debt or causing detriment.
Borrower Representation