Basic Representations - ISDA Provision: Difference between revisions
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== | (a) '''Basic Representations'''.<br> | ||
<br> | |||
(i) ''Status''. It is duly organised and validly existing under the laws of the jurisdiction of its<br> | |||
organisation or incorporation and, if relevant under such laws, in good standing;<br> | |||
<br> | |||
(ii) ''Powers''. It has the power to execute this Agreement and any other documentation relating to<br> | |||
this Agreement to which it is a party, to deliver this Agreement and any other documentation relating<br> | |||
to this Agreement that it is required by this Agreement to deliver and to perform its obligations<br> | |||
under this Agreement and any obligations it has under any {{isdaprov|Credit Support Document}} to which it is<br> | |||
a party and has taken all necessary action to authorise such execution, delivery and performance;<br> | |||
<br> | |||
(iii) ''No Violation or Conflict''. Such execution, delivery and performance do not violate or conflict<br> | |||
with any law applicable to it, any provision of its constitutional documents, any order or judgment<br> | |||
of any court or other agency of government applicable to it or any of its assets or any contractual<br> | |||
restriction binding on or affecting it or any of its assets;<br> | |||
<br> | |||
(iv) ''Consents''. All governmental and other consents that are required to have been obtained by it<br> | |||
with respect to this Agreement or any {{isdaprov|Credit Support Document}} to which it is a party have been<br> | |||
obtained and are in full force and effect and all conditions of any such consents have been complied<br> | |||
with; and<br> | |||
<br> | |||
(v) ''Obligations Binding''. Its obligations under this Agreement and any {{isdaprov|Credit Support Document}}<br> | |||
to which it is a party constitute its legal, valid and binding obligations, enforceable in accordance with<br> | |||
their respective terms (subject to applicable bankruptcy, reorganisation, insolvency,<br> | |||
moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to<br> | |||
equitable principles of general application (regardless of whether enforcement is sought in a<br> | |||
proceeding in equity or at law)).|3(a)|1992}}<br> | |||
=={{2002ma}}== | |||
{{isdaquote| | |||
(a) '''Basic Representations'''.<br> | |||
<br> | |||
(i) ''Status''. It is duly organised and validly existing under the laws of the jurisdiction of its organisation<br> | |||
or incorporation and, if relevant under such laws, in good standing;<br> | |||
<br> | |||
(ii) ''Powers''. It has the power to execute this Agreement and any other documentation relating to this<br> | |||
Agreement to which it is a party, to deliver this Agreement and any other documentation relating to this<br> | |||
Agreement that it is required by this Agreement to deliver and to perform its obligations under this<br> | |||
Agreement and any obligations it has under any {{isdaprov|Credit Support Document}} to which it is a party and has<br> | |||
taken all necessary action to authorise such execution, delivery and performance;<br> | |||
<br> | |||
(iii) ''No Violation or Conflict''. Such execution, delivery and performance do not violate or conflict with<br> | |||
any law applicable to it, any provision of its constitutional documents, any order or judgment of any court or<br> | |||
other agency of government applicable to it or any of its assets or any contractual restriction binding on or<br> | |||
affecting it or any of its assets;<br> | |||
<br> | |||
(iv) ''Consents''. All governmental and other consents that are required to have been obtained by it with<br> | |||
respect to this Agreement or any {{isdaprov|Credit Support Document}} to which it is a party have been obtained and are<br> | |||
in full force and effect and all conditions of any such consents have been complied with; and<br> | |||
<br> | |||
(v) ''Obligations Binding''. Its obligations under this Agreement and any {{isdaprov|Credit Support Document}} to<br> | |||
which it is a party constitute its legal, valid and binding obligations, enforceable in accordance with their<br> | |||
respective terms (subject to applicable bankruptcy, reorganisation, insolvency, moratorium or similar laws<br> | |||
affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general<br> | |||
application (regardless of whether enforcement is sought in a proceeding in equity or at law)).|3(a)|2002}}<br> | |||
{{isdaanatomy}} | {{isdaanatomy}} | ||
*{{isdasplink2|Basic|Representations}} | *{{isdasplink2|Basic|Representations}} | ||
Revision as of 13:09, 6 July 2012
(a) Basic Representations.
(i) Status. It is duly organised and validly existing under the laws of the jurisdiction of its
organisation or incorporation and, if relevant under such laws, in good standing;
(ii) Powers. It has the power to execute this Agreement and any other documentation relating to
this Agreement to which it is a party, to deliver this Agreement and any other documentation relating
to this Agreement that it is required by this Agreement to deliver and to perform its obligations
under this Agreement and any obligations it has under any Credit Support Document to which it is
a party and has taken all necessary action to authorise such execution, delivery and performance;
(iii) No Violation or Conflict. Such execution, delivery and performance do not violate or conflict
with any law applicable to it, any provision of its constitutional documents, any order or judgment
of any court or other agency of government applicable to it or any of its assets or any contractual
restriction binding on or affecting it or any of its assets;
(iv) Consents. All governmental and other consents that are required to have been obtained by it
with respect to this Agreement or any Credit Support Document to which it is a party have been
obtained and are in full force and effect and all conditions of any such consents have been complied
with; and
(v) Obligations Binding. Its obligations under this Agreement and any Credit Support Document
to which it is a party constitute its legal, valid and binding obligations, enforceable in accordance with
their respective terms (subject to applicable bankruptcy, reorganisation, insolvency,
moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to
equitable principles of general application (regardless of whether enforcement is sought in a
proceeding in equity or at law)).
(view template)
2002 ISDA
(a) Basic Representations.
(i) Status. It is duly organised and validly existing under the laws of the jurisdiction of its organisation
or incorporation and, if relevant under such laws, in good standing;
(ii) Powers. It has the power to execute this Agreement and any other documentation relating to this
Agreement to which it is a party, to deliver this Agreement and any other documentation relating to this
Agreement that it is required by this Agreement to deliver and to perform its obligations under this
Agreement and any obligations it has under any Credit Support Document to which it is a party and has
taken all necessary action to authorise such execution, delivery and performance;
(iii) No Violation or Conflict. Such execution, delivery and performance do not violate or conflict with
any law applicable to it, any provision of its constitutional documents, any order or judgment of any court or
other agency of government applicable to it or any of its assets or any contractual restriction binding on or
affecting it or any of its assets;
(iv) Consents. All governmental and other consents that are required to have been obtained by it with
respect to this Agreement or any Credit Support Document to which it is a party have been obtained and are
in full force and effect and all conditions of any such consents have been complied with; and
(v) Obligations Binding. Its obligations under this Agreement and any Credit Support Document to
which it is a party constitute its legal, valid and binding obligations, enforceable in accordance with their
respective terms (subject to applicable bankruptcy, reorganisation, insolvency, moratorium or similar laws
affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general
application (regardless of whether enforcement is sought in a proceeding in equity or at law)).
(view template)