Representation by Lender Clause Samples
The 'Representation by Lender' clause defines the statements and assurances that the lender makes regarding its authority, capacity, and legal standing to enter into the agreement. Typically, this clause confirms that the lender is duly organized, has obtained all necessary approvals, and is not in violation of any laws or agreements by participating in the transaction. By including these representations, the clause provides the borrower with confidence that the lender is legally able to fulfill its obligations, thereby reducing the risk of disputes or unenforceable commitments.
Representation by Lender. Each Lender hereby represents that it is a commercial lender or financial institution which makes loans in the ordinary course of its business and that it will make its Advances hereunder for its own account in the ordinary course of such business; provided that, subject to Sections 2.23 and 7.05, the disposition of the Advances owed to such Lender and the Notes held by such Lender shall at all times be within its exclusive control.
Representation by Lender. Each Lender represents and warrants in favor of the Administrative Agent that either:
(a) it is not resident for tax purposes in the United Kingdom and is beneficially entitled to receive its portion of any Advance and the interest thereon; or
(b) it is a bank as defined for the purposes of Section 840A of the Income and Corporation Taxes Act 1988 and is beneficially entitled to receive its portion of any Advance and the interest thereon, and each Lender agrees in favor of the Administrative Agent to notify the Agent if there is any change in its position from that set out above.
Representation by Lender. Lender hereby represents that it will acquire the Note for its own account in the ordinary course of its commercial lending business; however, the disposition of Lender's property shall at all times be and remain within its control and, in particular and without limitation, Lender may sell or otherwise transfer the Note, any participation interest or other interest in the Note, or any of its other rights and obligations under the Loan Documents.
Representation by Lender. The Lender hereby represents that it is a commercial lender or financial institution that makes loans in the ordinary course of its business and that it will make the Loans hereunder for its own account in the ordinary course of such business; PROVIDED that, subject to Section 9.6, the disposition of the Notes shall at all times be within its exclusive control.
Representation by Lender. Lender hereby represents to Successor Borrower that: (a) Lender is the legal and equitable owner of the F1-10 Note, the B1-7 Note, the F1-10 Mortgage, the B1-7 Mortgage and the other Loan Documents; (b) prior to the execution hereof, the Loan Documents were the only documents evidencing, securing or directly related to the Loan; (c) upon the satisfaction of the conditions set forth in Section 7 of this Agreement, any acceleration of the maturity of the F1-10 Note due solely to the occurrence of the Specified Defaults will be waived; and (d) other than the Specified Defaults which shall be waived by Lender upon the satisfaction of the conditions set forth in Section 7 of this Agreement, to the knowledge of the Lender, no event or condition which, with the giving of notice, the lapse of time, or both, would constitute an Event of Default has occurred and is continuing.
Representation by Lender. The Lender hereby represents that it is a commercial lender or financial institution which makes loans in the ordinary course of its business and that it will make its Advances hereunder for its own account in the ordinary course of such business; provided, however, that, subject to Section 9.07, the disposition of the Revolver Note shall at all times be within its exclusive control.