Common use of Warranties for Corporate Borrowers Clause in Contracts

Warranties for Corporate Borrowers. The Borrower warrants to the Lender (a) that it is duly incorporated and validly existing under the laws of its jurisdiction of incorporation; (b) that the Loan Agreement has been duly and validly executed; (c) that the entering into and performance of the Loan Agreement are within the Borrower’s corporate powers and have been authorised by all necessary corporate actions, does not contravene any law or regulation, its constitutional documents or contractual restrictions binding on the Borrower and (d) constitutes legal valid and binding obligations of the Borrower enforceable in accordance with its terms; and (e) that there are no pending or threatened actions or proceedings before any court or tribunal nor are there any insolvency proceedings pending or threatened in relation to it. These warranties are deemed to be given on acceptance of the Loan Agreement, on each day that interest is payable under the Loan Agreement, on the date upon which any drawdown under the Loan is requested and on the date of each drawdown under the Loan.

Warranties for Corporate Borrowers. The Borrower warrants to the 35. Lender (a) that it is duly incorporated and validly existing under the laws of its jurisdiction of incorporation; (b) that the Loan Agreement has been duly and validly executed; (c) that the entering into and performance of the Loan Agreement are within the Borrower’s corporate powers and have been authorised by all necessary corporate actions, does not contravene any law or regulation, its constitutional documents or contractual restrictions binding on the Borrower and (d) constitutes legal valid and binding obligations of the Borrower enforceable in accordance with its terms; and (e) that there are no pending or threatened actions or proceedings before any court or tribunal nor are there any insolvency proceedings pending or threatened in relation to it. These warranties are deemed to be given on acceptance of the Loan Agreement, on each day that interest is payable under the Loan Agreement, on the date upon which any drawdown under the Loan is requested and on the date of each drawdown under the Loan.