Corporate Debt Limit Sample Clauses

Corporate Debt Limit. The subscription by the Original Debentureholders of the Debentures will (i) be (without IFC being required to participate any auction process/ mechanism) within the available limits of the (Country) corporate bond limits and (ii) not be in breach of the concentration norms prescribed by the RBI for the prevailing corporate bond limits, as specified by the RBI, SEBI and/or other relevant Authority, enabling the Original Debentureholder to subscribe to the Debentures (including without participating in any auction process/ mechanism). [insert date] Re: Debenture Trust Deed dated [●],[●] (the "DTD") executed by and between [●] (the "Issuer")and [●] ("Trustee") Dear ▇▇▇▇▇/Sir, 1. All capitalized terms used herein and not defined, will have the same meaning as set out in the DTD. 2. Pursuant to Clause 15.1(b) the DTD, we hereby certify and confirm that each of the conditions precedent listed in Par A of Schedule VI (Conditions Precedent) of the DTD have been complied with and completed. 3. In addition, the Issuer certifies and confirms that as of the date of this notice: (a) The representations and warranties made by the Issuer in the DTD, in the Transaction Documents and in the Disclosure Schedule and in any schedule, exhibit or certificate delivered by the Issuer pursuant to Clause 11 (Representation, Warranties and Covenants) of the DTD, are true, correct and not misleading on and as of the date of this notice with the same effect as if such representations and warranties have been made on and as of such date, save as qualified by the Disclosure Schedule in accordance with the DTD; (b) All of the agreements and covenants of the Issuer to be performed on or prior to the Deemed Date of Allotment pursuant to each Transaction Document have been duly performed in all material respects, and no material breach under any Transaction Document has occurred and is continuing;