Recital Clause Clause Samples
A Recital Clause serves to provide background information and context for the agreement, outlining the intentions and motivations of the parties involved. Typically found at the beginning of a contract, it summarizes the circumstances leading to the agreement and may reference prior dealings or the purpose of the contract. By clarifying the context and objectives, the Recital Clause helps ensure that all parties share a common understanding of the agreement’s foundation, which can aid in interpreting the contract’s provisions if disputes arise.
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Recital Clause. 15.1 Both parties possess the total capability of executing this Contract, exercising their rights and fulfilling their obligations under this Contract.
15.2 All provisions under this Contract are in compliance with relevant laws and regulations, as well as opinions from departments and persons concerned.
15.3 Party A has a clear knowledge of the business scope and authorization scope of Party B.
15.4 Party A has read all provisions of this Contract. Party B has made explanations for corresponding provisions as per the requirement of Party A. Party A has already had a complete and accurate understanding to the meaning of all provisions under this Contract as well as corresponding legal consequences.
Recital Clause. I. Party A clearly knows Party B’s business scope and authority.
II. Party A has read all clauses of this Contract. At the request of Party A, Party B has made corresponding explanations on this Contract. Party A has fully known and understood the meanings and corresponding legal consequences of the clauses of this Contract.
III. Party A’s signing and performance of its obligations under this Contract comply with the stipulations of applicable laws, administrative regulations and rules, and Party A’s Articles of Association or internal organization documents, and have been approved by internal competent authorities of the company and/or national competent authorities.
IV. Party A’s production and operation are legal and compliant;
V. Party A has the sustainable operation ability and legal sources of repayment;
VI. Party A promises that all loan funds under this Contract are based on the real needs of the specific use of the loan without going beyond its actual needs.
VII. Party A and its controlling shareholder have good credit status and no major bad records.
VIII. Party B is entitled to entrust other sub-branches of China Construction Bank to issue the loan under this Contract and to exercise and fulfill its rights and obligations under this Contract, and Party A has no objection to this.
IX. Party A states that it and its important related parties do not have any behavior or situation that violates the laws, regulations and rules on environmental and social risk management when this Contract is concluded, and promises to strengthen environmental and social risk management of itself and its important related parties after the conclusion of this Contract, to strictly abide by relevant laws, regulations and rules on environmental and social risk management, and to completely eradicate the harm and related risks to the environment and society (including but not limited to environmental and social problems related to energy consumption, pollution, land, health, safety, resettlement of affected residents, ecological protection, energy conservation and emission reduction, climate change, etc.) in construction, production and operation activities. Party A agrees that Party B has the right to conduct supervision on Party A’s environmental and social risk management and request Party A to submit an environmental and social risk report. If the above statement made by Party A is false or the above promise is not fulfilled, or Party A may result in environmental and...
Recital Clause. 16.1 The pledgor has a clear knowledge of the business scope and authorization scope of the pledgee.
16.2 The pledgor has read all provisions of this Agreement. The pledgee has made explanations for corresponding provisions as per the requirement of the pledgor. The pledgor has already had a complete and accurate understanding to the meaning of all provisions under this Agreement as well as corresponding legal consequences.
16.3 The pledgor is entitled to execute this Agreement
Recital Clause. 1. Party A has a clear knowledge of the business scope and authority scope of Party B.
2. Party A has read all provisions of this Contract. Party B has made explanations for corresponding provisions as per the requirement of Party A. Party A has already had a complete and accurate understanding to the meaning of all provisions under this Contract as well as corresponding legal consequences.
3. Party A is entitled to sign this Contract. Party A (seal): ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Pharmaceutical (group) Co., Ltd. Legal Representative: ▇▇▇▇▇▇ ▇▇▇ Party B (seal): China Construction Bank, Kunming ▇▇▇▇▇▇ ▇▇▇▇▇▇ Person-in-charge: ▇▇▇▇▇▇ ▇▇▇▇ Date: March 30 , 2007
Recital Clause. 15.1. The borrower has a clear knowledge of the business scope and authority scope of the lender.
15.2. The borrower has read all provisions of this Contract. The lender has made explanations for corresponding provisions as per the requirement of the borrower. The borrower has already had a complete and accurate understanding to the meaning of all provisions under this Contract as well as corresponding legal consequences.
15.3. The borrower is entitled to sign this Contract.