Trust and partnership provisions Sample Clauses

Trust and partnership provisions. 31.1 Trustee warranties (1) If the Dealer is not described in this Agreement as trustee of a trust, the Dealer and the Guarantor (if any) warrant that the Dealer enters into this Agreement in its own right and not as a trustee for any person. (2) The remainder of this clause 31 applies if the Dealer enters into this Agreement as trustee of any trust and the trust (Trust) is described alongside the name of the Dealer. (3) The Dealer warrants that: (a) it is the sole trustee of the Trust; (b) it enters into this Agreement for the purposes and benefit of the Trust and has obtained the consent or approval of any person which is needed to ensure that the property of the Trust is bound upon the execution of this Agreement; (c) it has given to CNH a copy of the Trust deed and copies of any other documents relating to the Trust; (d) it has power under the Trust Deed to enter into this Agreement, to undertake the obligations and liabilities in the manner and the extent contemplated by this Agreement and to apply the assets of the Trust in satisfaction of any money payable under this Agreement; (e) it has an unrestricted right to be fully indemnified out of the assets of the Trust; APAC-314009868-v1 (f) it is not in default of its obligations as trustee and no steps have been taken or threatened by any person to: (i) revoke or vary the Trust deed; (ii) remove the Dealer as trustee of the Trust; (iii) appoint additional trustees to the Trust; (iv) have the Trust assets administered pursuant to any order of a court; (v) have any receiver or administrator of the Trust assets appointed or have the Trust wound up; or (vi) charge the Dealer or anyone acting on its behalf with any breach of trust or misappropriation of Trust assets in connection with the Trust; (g) the vesting date for the Trust occurs after the Agreement is expected to end by effluxion of time; and (h) all information or documents supplied to CNH or to any person on CNH’s behalf for the purposes of the Franchise are true and accurate and leave no material facts undisclosed. (4) The Dealer acknowledges and agrees that this Agreement is entered into, and the Franchise is granted on the basis that each of the warranties contained in this Agreement are true and correct and will remain so throughout the Term. (5) If the Trust is a unit trust, the Dealer and the Guarantor warrant that the unitholders of the Trust are as specified in the Schedule and that all of the issued units in the Trust are beneficially hel...