Common use of EDC Clause in Contracts

EDC. On and as of the effective date, and upon Delivery, the EDC hereby covenants, represents and warrants to the Subscriber Organization as follows: 11.2.1 The EDC has and, at all times during the term will have, all necessary power and authority to execute, deliver and perform its obligations hereunder; 11.2.2 The execution, delivery and performance of this Tariff by EDC has been duly authorized by all necessary action and does not violate any of the terms or conditions of EDC's governing documents, or any contract to which it is a party, or any law, rule, regulation, order, judgment or other legal or regulatory determination applicable to EDC; 11.2.3 To the EDC’s knowledge, there is no pending or threatened litigation, arbitration or administrative proceeding that materially adversely affects the EDC’s ability to perform its obligations under the Tariff; and 11.2.4 The EDC is not bankrupt and there are no proceedings pending or being contemplated by it or, to its knowledge, threatened against it which would result in it being or becoming bankrupt.

EDC. On and as of the effective date, and upon Delivery, the EDC hereby covenants, represents and warrants to the Subscriber Organization as follows: 11.2.1 The EDC has and, at all times during the term will have, all necessary power and authority to execute, deliver and perform its obligations hereunder; 11.2.2 The execution, delivery and performance of this Tariff by EDC has been duly authorized by all necessary action and does not violate any of the terms or conditions of EDC's governing documents, or any contract to which it is a party, or any law, rule, regulation, order, judgment or other legal or regulatory determination applicable to EDC; 11.2.3 To the EDC’s knowledge, there is no pending or threatened litigation, arbitration or administrative proceeding that materially adversely affects the EDC’s ability to perform its obligations under the Tariff; and 11.2.4 The EDC is not bankrupt and there are no proceedings pending or being contemplated by it REFERENCE or, to its knowledge, threatened against it which would result in it being or becoming bankrupt.