Template:Nutshell 2002 ISDA 3: Difference between revisions
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{{isdaprov|3}}. '''{{isdaprov|Representations}}'''<br> | |||
Each party makes the representations below (with Section {{isdaprov|3(g)}} representations only if specified in the {{isdaprov|Schedule}}) and repeats them on the date it enters into each {{isdaprov|Transaction}} and, for Section {{isdaprov|3(f)}} representations, at all times until they terminate this {{isdaprov|Agreement}}). Any “{{isdaprov|Additional Representation}}s” will be made and repeated as specified. <br> | |||
{{Nutshell 2002 ISDA 3(a)}} | {{Nutshell 2002 ISDA 3(a)}} | ||
{{Nutshell 2002 ISDA 3(b)}} | {{Nutshell 2002 ISDA 3(b)}} | ||
Latest revision as of 10:18, 27 July 2022
3. Representations
Each party makes the representations below (with Section 3(g) representations only if specified in the Schedule) and repeats them on the date it enters into each Transaction and, for Section 3(f) representations, at all times until they terminate this Agreement). Any “Additional Representations” will be made and repeated as specified.
3(a) Basic Representations
- 3(a)(i) Status. It is duly organised and validly existing under the laws of its jurisdiction and is, where relevant, in good standing;
- 3(a)(ii) Powers. It has the power to execute, deliver and perform this Agreement and any Credit Support Document to which it is a party and has done everything needed to do so;
- 3(a)(iii) No Violation or Conflict. Its entry into and performance of this Agreement is not contrary to law, its constitutional documents, or any court or government order or contractual restriction affecting it or its assets;
- 3(a)(iv) Consents. It has all regulatory approvals needed to enter and perform this Agreement and any Credit Support Document to which it is a party and they remain unconditional and in full force; and
- 3(a)(v) Obligations Binding. Its obligations under this Agreement and any Credit Support Document to which it is a party are its legal, valid and binding obligations, enforceable in accordance with their terms (subject to general laws affecting creditors’ rights and equitable principles).
3(b) Absence of Certain Events. No Event of Default or Potential Event of Default or, to its knowledge, Termination Event is in existence for that party or would happen if it entered or performed this Agreement or any Credit Support Document.
3(c) Absence of Litigation. There is no pending or threatened litigation against it, any Credit Support Providers or any Specified Entities before any court or government agency that could affect the legality, enforceability or its ability to perform this Agreement or any Credit Support Document.
3(d) Accuracy of Specified Information. The Specified Information designated as being subject to this Section 3(d) representation is, as at its stated date, materially accurate and complete.
3(e) Payer Tax Representation. Each of its Payer Tax Representations specified in the Schedule is true.
3(f) Payee Tax Representation. Each Payee Tax Representation it has made to which this Section 3(f) applies (as specified in the Schedule) is true.
3(g) No Agency. It is a principal and not an agent under this Agreement.