Representations by GHFA EDFI Sample Clauses

Representations by GHFA EDFI. With respect to any loan enrolled hereunder, GHFA EDFI covenants and represents that, as of the time of such enrollment, GHFA EDFI has the necessary power, and has duly taken all actions on its part required to authorize, execute and deliver this Agreement. This Agreement when executed will be valid, binding and enforceable in accordance with its terms. The execution and performance of this Agreement by GHFA EDFI will not violate or conflict with any instrument by which GHFA EDFI is bound. Representations by the Lender. With respect to any loan that the Lender files for enrollment hereunder, the Lender makes the following representations and warranties as of the time of each such filing and enrollment: The Lender has obtained from the Borrower the following representations and warranties, and, based on knowledge that the Lender has after reasonable inquiry, the Lender has no substantial reason to believe that such representations and warranties are not true: The Borrower is a corporation, partnership, limited liability company, limited liability partnership, joint venture, sole proprietorship, cooperative, or other entity, which is authorized to conduct business in the State, and the proceeds of the loan will be used for a business purpose, which includes, but is not limited to, start-up costs, working capital, business procurement, franchise fees, equipment, inventory, lines of credit, buildings or other real estate improvements for an industrial, commercial or other business enterprise that is not for Passive Real Estate Ownership, or any combination thereof, generally within the state as described below; however, a business purpose shall specifically exclude acquiring or holding passive investments such as Passive Real Estate Ownership, the purchase of securities and Lobbying Activities. If proceeds of the loan are for buildings or other real estate improvements, the real estate must be located in Georgia. If proceeds of the loan are for franchise fees, the business for which the fees are paid must be located in Georgia. If proceeds of the loan are for equipment, the equipment must be installed or titled in Georgia. If the proceeds of the loan are for start-up costs, working capital, business procurement, inventory, or any other costs, the proceeds must be used to directly benefit a business within the state of Georgia. However, nothing in this Agreement shall prohibit a business from using the proceeds of the loan to purchase inventory, equipment, or o...
Sample 1
AutoNDA by SimpleDocs
Representations by GHFA EDFI. With respect to any loan enrolled hereunder, GHFA EDFI covenants and represents that, as of the time of such enrollment, GHFA EDFI has the necessary power, and has duly taken all actions on its part required to authorize, execute and deliver this Agreement. This Agreement when executed will be valid, binding and enforceable in accordance with its terms. The execution and performance of this Agreement by GHFA EDFI will not violate or conflict with any instrument by which GHFA EDFI is bound.
Sample 1

Related to Representations by GHFA EDFI

  • Representations and Warranties of Both Parties Each Party hereby represents and warrants to the other Party, as of the Effective Date, that:

  • Representations and warranties of the Contractor (i) The Contractor represents and warrants to the Authority that:

  • Representations and Warranties of Contractor Contractor represents and warrants to the Owner that:

  • Representations and Warranties of Parties A. Redeveloper represents and warrants to City as follows:

  • Representations and Warranties of the Concessionaire The Concessionaire represents and warrants to the Authority that:

  • Representations and Warranties by the Company The Company represents and warrants to each Underwriter as of the date hereof, the Applicable Time, the Closing Time (as defined below) and any Date of Delivery (as defined below), and agrees with each Underwriter, as follows:

  • REPRESENTATIONS AND WARRANTIES OF BUYER Buyer represents and warrants to Seller as follows:

  • Representations and Covenants In accordance with IRS Notice 2001-82 and IRS Notice 88-129, the Interconnection Customer represents and covenants that (i) ownership of the electricity generated at the Large Generating Facility will pass to another party prior to the transmission of the electricity on the CAISO Controlled Grid, (ii) for income tax purposes, the amount of any payments and the cost of any property transferred to the Participating TO for the Participating TO's Interconnection Facilities will be capitalized by the Interconnection Customer as an intangible asset and recovered using the straight-line method over a useful life of twenty (20) years, and (iii) any portion of the Participating TO's Interconnection Facilities that is a “dual-use intertie,” within the meaning of IRS Notice 88-129, is reasonably expected to carry only a de minimis amount of electricity in the direction of the Large Generating Facility. For this purpose, “de minimis amount” means no more than 5 percent of the total power flows in both directions, calculated in accordance with the “5 percent test” set forth in IRS Notice 88- 129. This is not intended to be an exclusive list of the relevant conditions that must be met to conform to IRS requirements for non-taxable treatment. At the Participating TO’s request, the Interconnection Customer shall provide the Participating TO with a report from an independent engineer confirming its representation in clause (iii), above. The Participating TO represents and covenants that the cost of the Participating TO's Interconnection Facilities paid for by the Interconnection Customer without the possibility of refund or credit will have no net effect on the base upon which rates are determined.

  • Representations and Warranties of Developer Developer makes the following representations and warranties:

  • SELLER’S WARRANTIES, REPRESENTATIONS AND COVENANTS As an inducement to Buyer to enter into this Agreement and to purchase the Property, Seller warrants, represents, and covenants to Buyer, as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.