Basic Representations - ISDA Provision: Difference between revisions

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{{isdaquote|
{{nman|isda|2002|3(a)}}
(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}}
*{{isdasplink2|Basic|Representations}}