Template:GMSLA 2010 13: Difference between revisions
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{{gmslaprov|13}}. '''{{gmslaprov|Lender’s Warranties}}''' <br> | {{gmslaprov|13}}. '''{{gmslaprov|Lender’s Warranties}}''' <br> | ||
Each {{gmslaprov|Party}} hereby warrants and undertakes to the other on a continuing basis to the intent that such warranties shall survive the completion of any transaction contemplated herein that, where acting as a {{gmslaprov|Lender}}: | Each {{gmslaprov|Party}} hereby warrants and undertakes to the other on a continuing basis to the intent that such warranties shall survive the completion of any transaction contemplated herein that, where acting as a {{gmslaprov|Lender}}: | ||
Latest revision as of 17:14, 28 December 2020
13. Lender’s Warranties
Each Party hereby warrants and undertakes to the other on a continuing basis to the intent that such warranties shall survive the completion of any transaction contemplated herein that, where acting as a Lender:
- (a) it is duly authorised and empowered to perform its duties and obligations under this Agreement;
- (b) it is not restricted under the terms of its constitution or in any other manner from lending Securities in accordance with this Agreement or from otherwise performing its obligations hereunder;
- (c) it is absolutely entitled to pass full legal and beneficial ownership of all Securities provided by it hereunder to Borrower free from all liens, charges and encumbrances; and
- (d) it is acting as principal in respect of this Agreement, other than in respect of an Agency Loan.