Basic Representations - ISDA Provision: Difference between revisions

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==[[2002 ISDA Master]] Agreement==

(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  

{{isdaprov|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 {{isdaprov|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)).