Representation by Borrower Sample Clauses

Representation by Borrower. Each Borrowing under this Agreement shall be deemed to be a representation and warranty by the Borrower on the date of such Borrowing as to the facts specified in subsections (b), (c) and (d) of Section 3.02.
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Representation by Borrower. 35 SECTION 3.04.
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Representation by Borrower. The Borrower shall notify the Bank in writing regarding the change of its name, legal representative, legal address, business scope within 5 working days since such change is registered with local authority. • During the loan period, the Borrower may not provide security for the third party with the assets under the loan. • Providing accounting materials and business operation materials. Preconditions of Loan The loan of XXX 00 million can be withdrawn by the Borrower before the mortgage in favour of the Bank with value of RMB 20 million is created. Among the XXX 00 xxxxxxx, 00 xxxxxxx xxxx xx used for working capital and the rest for repayment of other banks’ loan. The remaining XXX 00 million for working capital can be withdrawn after the mortgage is created. Security Mortgage with value of RMB 20 million. Period From December 30, 2008 to December 30, 2011. Liability for Breach The Bank may have one or more options as follows if the Borrower breaches the contract or under any event that could affect the Bank’s interest, including the material corporate change of the Borrower, such as restructuring, merger, demerger, establishing a joint venture, assets transfer, deregistration, etc. • suspend the payment of loan to the Borrower; • accelerate the loan; • request the Borrower to pay liquidated damages of 11.34% of the fund under the loan which is not used according to the designated purposed under the contract; • in case of late repayment, charge the Borrower with penalty interest and compound interest; • request for new security by the Borrower; • excise the rights under the mortgage; and • terminate the contract. Governing law The dispute will be solved through the court in the place where the Bank is located. and Jurisdiction
Sample 1
Representation by Borrower. The Borrower shall: notify the Bank of any change of its directors or shareholders, revision or amendment of its business license and articles of association, and make sure such change, revision or amendment will not cause adverse impact on the interest of the Bank; not pledge the outstanding receivables in favour of any third party without approval by the Bank; notify the Bank immediately of any event that will affect the capability of the Borrower or guarantors to perform the obligations under the loan agreement and related documents. Security Borrower shall provide RMB 3,000,000 as deposit with the Bank which will be released to Borrower if the first 6 repayments by the Borrower are duly made. Individual guarantee is also required. Period of Credit 3 years commencing from the date the loan is paid to the Borrower.
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Representation by Borrower. Borrower represents and warrants that:
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Representation by Borrower. The Borrower shall notify the Bank of any corporate change in writing 30 days advance, including restructuring, merger, demerger, establishing a joint venture, assets transfer, etc., which may affect the obligations under the contract and the interest of the Bank. The Borrower may not take the above mentioned actions without written approval of such changes by the Bank. • The Borrower shall obtain written approval before providing a guarantee or mortgage with its primary asset for a third party, which could affect its performance under the loan agreement. • The Borrower or its investor(s) may not withdraw the capital, transfer the assets or equity for the purpose of avoiding the debt owned to the Bank. • The Borrower shall notify the Bank in advance in writing regarding the change of its name, legal representative, legal address, business scope. • During the loan period, the Borrower may not pay dividends or provide security for a third party, or lend to a third party. • By the end of 2009, the total group financing may not exceed RMB 130 million and the revenue of the Borrower should exceed XXX 000 xxxxxxx, xxxxxxxxx, the Bank is entitled to declare the loan accelerated. Security Mortgage plus guarantee. The mortgage contract and guarantee contract are signed independently. Period From August 21, 2009 to August 20, 2010 Liability for Breach • If the Borrower fails to observe the agreement, which causes damages or losses to the Bank, the Borrower shall pay liquidated damages which shall be calculated with the same method in the instance of delayed repayment. • In case of delayed repayment, the Borrower will be charged with penalty calculated at the rate 50% higher than the loan rate. • The Bank is entitled to request liquidated damages of 10% of the loan paid to the Borrower if the Borrower intentionally conceals any material facts or provides false information to the Bank. • The Borrower shall be responsible for legal fees and other fees that occurred by the Bank to collect the debt through litigation if the Borrower breach the contract. Governing law and Jurisdiction The dispute will be solved through the court in the place where the Bank is located.
Sample 1
Representation by Borrower. 37 SECTION 3.04. Transitional Provisions.............................. 37 -------- *The Table of Contents is not a part of this Agreement.
Sample 1
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Representation by Borrower. The Borrower represents and warrants that except as heretofore disclosed in writing to the Banks, (i) after giving effect to the amendments and waiver contained herein, no Default has occurred and is continuing, and (ii) since June 30, 1998, there has been no material adverse change in the business, financial position, results of operations of the Coventry Group, considered as a whole.
Sample 1

Related to Representation by Borrower

  • Representation by Lenders Each Lender hereby represents that it will acquire its Note for its own account in the ordinary course of its commercial lending business; however, the disposition of such Lender's property shall at all times be and remain within its control and, in particular and without limitation, such Lender may sell or otherwise transfer its Note, any participation interest or other interest in its Note, or any of its other rights and obligations under the Loan Documents.

  • Representation by Banks Each Bank 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 Loans hereunder for its own account in the ordinary course of such business; provided, however, that, subject to Section 9.07, the disposition of the Note or Notes held by that Bank shall at all times be within its exclusive control.

  • Representation by Counsel Each Party hereby represents that it has had the opportunity to be represented by legal counsel of its choice in connection with the negotiation and execution of this Agreement.

  • Representations and Warranties of Lenders Each Lender, upon execution and delivery hereof or upon succeeding to an interest in the Commitments or Loans, as the case may be, represents and warrants as of the Closing Date or as of the effective date of the applicable Assignment and Assumption that (i) it is an Eligible Assignee; (ii) it has experience and expertise in the making of or investing in commitments, loans or investments such as the Commitments and Loans; and (iii) it will make or invest in its Commitments and Loans for its own account in the ordinary course of its business and without a view to distribution of such Commitments and Loans within the meaning of the Securities Act or the Exchange Act, or other federal securities laws (it being understood that, subject to the provisions of this Section 10.6, the disposition of such Commitments and Loans or any interests therein shall at all times remain within its exclusive control).

  • Representations and Warranties of the Borrowers Each Borrower represents and warrants as follows:

  • Representations and Warranties of Borrowers Each Borrower represents and warrants to the Agent and the Lenders as follows:

  • Representations and Warranties of the Lenders In connection with the transactions provided for herein, each Lender hereby represents and warrants to the Company that:

  • Representations and Warranties of Lender Lender hereby represents and warrants to Borrower as follows:

  • Representations and Warranties of Loan Parties Each of the Loan Parties represents and warrants as follows:

  • Representations and Warranties of the Borrower The Borrower represents and warrants as follows:

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