From The Jolly Contrarian
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| ===Section {{{{{1}}}|3(a)(i)}}: {{{{{1}}}|Status}}===
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| {{Rep status}}
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| ===Section {{{{{1}}}|3(a)(ii)}}: {{{{{1}}}|Powers}}===
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| {{capacity capsule}}
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| {{ultravires capsule}}
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| ===Section {{{{{1}}}|3(a)(iii)}}: {{{{{1}}}|No Violation or Conflict}}===
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| {{Rep no violation}}
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| ===Section {{{{{1}}}|3(a)(iv)}}: {{{{{1}}}|Consents}}===
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| {{Rep consents}}
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| Here especially the [[caveat]] in the {{isdaprov|Misrepresentation}} {{isdaprov|Event of Default}} as to [[materiality]] might come in to play, if one has lost some trivial regulatory status, or perhaps one that increases the compliance cost of business that does not prevent the firm carrying out their business altogether.
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| Having successfully made this representation, your work is not over. Proceed to Section {{{{{1}}}|4(b)}} where you [[covenant]] to ''maintain'' them, for better for worse, and in sickness and in health, and make [[reasonable]] efforts to obtain any new consents that might be needed in the future. Why the pedantic separation, you may ask? Because [[representations]] address the ''now'' and the ''past'', and speak to states of affairs and not actions — any necessary action, [[ipso facto]], having been already taken; whereas [[promise]]s address the ''future'' where things are unknown, frightening and inherently fascinating for it is where, as [[Criswell]] correctly observed, you and I are going to spend the rest of our lives.
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| ===Section {{{{{1}}}|3(a)(v)}}: {{{{{1}}}|Obligations Binding}}===
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| {{Rep obligations binding}}
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Latest revision as of 09:15, 29 May 2023