BORROWER’S DECLARATION Clause Samples

The Borrower's Declaration clause requires the borrower to formally affirm certain facts or conditions as part of a contract or agreement. Typically, this involves the borrower confirming the accuracy of information provided, their legal authority to enter into the agreement, and compliance with relevant laws or obligations. By including this clause, the agreement ensures that the lender can rely on the borrower's statements, thereby reducing the risk of misrepresentation and providing a basis for recourse if the declarations prove false.
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BORROWER’S DECLARATION. I hereby declare that the foregoing particulars are true to the best of my knowledge and belief and agree to abide by the society’s Loan policy, and any variations by the credit committee, in respect of the above. I hereby attach...
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BORROWER’S DECLARATION. L▇▇▇▇▇ does not lend to Individuals or businesses who: (a) willfully neglect applicable operating laws and regulations; engage in any money laundering activities or (b) are involved in financing terrorist activities; or are involved in illegal or other activities that could harm L▇▇▇▇▇’s reputation The Borrower must disclose in writing to Lender il they: (a) anticipate or are involved in any legal action, or any proceedings before any court. tribunal, board or agency or there are any unexecuted judgments rendered against them; (b) are in default under any material contracts that affect their business or assets; have declared bankruptcy (discharged or undischarged) or have been the subject of other insolvency proceedings or proposals (c) have been in arrears in the payment of income, business or property taxes, income tax, sales tax, payroll deductions, or similar payment obligations; have been convicted of a criminal offence (except for a conviction for which a pardon has been granted): (d) have undergone any type of investigation or have been accused or convicted of any offenses related to fraud, money laundering or terrorist financing: or (e) are aware of any of their directors, officers, shareholders, or partners being involved in any of the preceding issues, as applicable. If the Borrower fails to conduct his business in line with the integrity commitments and required disclosures set out above, Lender may consider this to be an event of default or cause lo end any contractual relationship between the borrower and Lender. Specifically, Lender may decline to provide further financial services or make any further loan disbursements, terminate their loan(s), demand immediate repayment of any outstanding loan balance or other amount due by the Borrower, or enforce L▇▇▇▇▇’s interest in any property pledged to secure their loan. (a) They have read and affirm the integrity declaration; (b) They consent to L▇▇▇▇▇’s collection, use, and disclosure of their personal information in the manner and for the purposes described above; (c) They know of no reason Lender may have any concern with their business
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BORROWER’S DECLARATION. A. I/We am/are director(s) of Axis Bank Limited and also a director(s) / partner(s), manager(s), managing agent (s), employee (s), or guarantor(s) or holder(s) of substantial interest of the borrower or its subsidiary or its holding company. B. I/We am/are director(s) of any other bank or the subsidiaries of any of the banks or trustees of mutual funds / venture capital funds set up by the banks and also a director(s) / partner(s), manager(s), managing agent(s), employee(s) or guarantor(s) or holder(s) of substantial interest of the borrower. C. I/We am/are the relative(s) of the director(s) of Axis Bank Limited or any other Bank, as defined by extant guidelines of RBI from time to time, and also a director(s) / partner(s) or guarantor(s) or major shareholder(s) or in control of the borrower or a major shareholder(s) or in control of the holding or subsidiary company of the borrower. D. I/We am/are senior official(s) of the Bank or relative of the senior official of the Bank, as defined by extant guidelines of RBI from time to time, and also a director(s) / partner(s), or guarantor(s) or holder(s) of substantial interest of the borrower. E. If any of the above clause is applicable, then please furnish the details. In case if any of the above stated declarations are breached during the tenor of the facility, the borrower shall inform the bank immediately. In case of non-compliance with the undertaking or giving wrong undertaking in relation to the provisions Connected Lending/Section 20 of the BR Act, at any time during the currency of loan, the Bank reserves the right to recall the loan immediately. F. Politically exposed persons are individuals who are or have been entrusted with prominent public functions in a foreign country, e.g., Heads of States or Governments, senior politician, senior government/judicial/military officers, senior executives of state-owned corporations, important political party officials, etc. I declare that I am not a Politically Exposed Person (PEP), nor I am related to any Politically Exposed Person (PEP). I undertake that in the event of subsequently becoming a PEP, I will immediately intimate the Bank regarding the same. 11.I We further undertake as follows: A. I/We will not invest or lend money except in the normal course of business or act as surety or Guarantor without getting the written consent of the Bank. B. During the currency of the said credit facility, I/We agree not to dissolve and/or to reconstitute and/or to make ...
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BORROWER’S DECLARATION. You understand the risks and costs of borrowing the principal debt from us.
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Related to BORROWER’S DECLARATION

  • DESTRUCTION OF BORROWER'S DOCUMENTS Any documents, schedules, invoices or other papers delivered to Bank, may be destroyed or otherwise disposed of by Bank six (6) months after they are delivered to or received by Bank, unless Borrower requests, in writing, the return of the said documents, schedules, invoices or other papers and makes arrangements, at Borrower's expense, for their return.

  • Execution of Credit Agreement; Loan Documents The Administrative Agent shall have received (i) counterparts of this Agreement, executed by a Responsible Officer of each Loan Party and a duly authorized officer of each Lender, (ii) for the account of each Lender requesting a Note, a Note executed by a Responsible Officer of the Borrower, (iii) counterparts of the Security Agreement and each other Collateral Document, executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other Person party thereto, as applicable and (iv) counterparts of any other Loan Document, executed by a Responsible Officer of the applicable Loan Party and a duly authorized officer of each other Person party thereto.

  • Seller's Documents At the Closing, Sellers shall deliver or cause to be delivered to Buyer the following: (a) Resignation of all directors and officers of the Company effective on the Closing Date; (b) A certificate of the Company, dated the Closing Date, in the form described in Section 8.01(c); (c) Governmental certificates showing that the Company: (i) is duly incorporated and in good standing in the state of its incorporation; and (ii) has filed all returns, paid all taxes due thereon and is currently subject to no assessment and is in good standing as a foreign corporation in each state where such qualification is necessary, each certified as of a date not more than thirty (30) days before the Closing Date; (d) Such certificates, stock powers (executed in blank with signatures guaranteed), assignments, documents of title and other instruments of conveyance, assignment and transfer (including without limitation any necessary consents to conveyance, assignment or transfer), and lien releases, if any, all in form satisfactory to Buyer and Buyer's counsel, as shall be effective to vest in Buyer title in and to the Company Stock, free, clear and unencumbered in accordance with the terms of this Agreement. (e) The Indemnification Escrow Agreement; (f) The Consulting and Non-Competition Agreement signed by Jame▇ ▇. ▇▇▇▇ ▇▇▇erred to in Section 14.14; (g) A written opinion of Wils▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ & ▇osa▇▇, ▇▇unsel for the Sellers in the form of Exhibit C, dated as of the Closing Date; (h) A written opinion of the Company's FCC counsel in form and substance reasonably satisfactory to Buyer covering the matters set forth on Exhibit D, dated as of the Closing Date; (i) Updating title insurance endorsements on all title insurance policies on the Real Property held by the Company in form and substance reasonably satisfactory to Buyer; and (j) Such additional information, materials, agreements, documents and instruments as Buyer, its counsel, or its senior lender may reasonably request in order to consummate the Closing.

  • Condition of Borrower or Guarantor The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower, Guarantor or any other party at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of Borrower or Guarantor, or any sale, lease or transfer of any or all of the assets of Borrower or Guarantor, or any changes in the shareholders, partners or members of Borrower or Guarantor; or any reorganization of Borrower or Guarantor.

  • Loan Agreements Notwithstanding any term hereof (or any term of the UCC that might otherwise be construed to be applicable to a “securities intermediary” as defined in the UCC) to the contrary, none of the Collateral Agent, the Collateral Custodian nor any securities intermediary shall be under any duty or obligation in connection with the acquisition by the Borrower, or the grant by the Borrower to the Collateral Agent, of any Loan Asset in the nature of a loan or a participation in a loan to examine or evaluate the sufficiency of the documents or instruments delivered to it by or on behalf of the Borrower under the related Loan Agreements, or otherwise to examine the Loan Agreements, in order to determine or compel compliance with any applicable requirements of or restrictions on transfer (including without limitation any necessary consents). The Collateral Custodian shall hold any Instrument delivered to it evidencing any Loan Asset granted to the Collateral Agent hereunder as custodial agent for the Collateral Agent in accordance with the terms of this Agreement.