Common use of Closing Affidavit Clause in Contracts

Closing Affidavit. At the closing of the Loan, an Authorized Representative of Borrower shall execute and deliver to Lender an affidavit certifying to Lender (a) that all financial information furnished by or on behalf of Borrower to Lender is accurate and correct in all material respects as of the reporting date(s) thereof and that there have been no material adverse changes since the reporting date(s) thereof; (b) that except as disclosed in writing to Lender and approved by Lender in writing, Borrower is not in default under any material obligation or agreement to which it is a party or by which it or the Property and Collateral is bound; and (c) that, except as disclosed in writing to Lender and approved by Lender in writing, there is no material litigation pending or, to the best of Borrower's knowledge, threatened, against Borrower which could have a material adverse effect on Borrower, the Property or Collateral.