Template:Nutshell GMSLA 14

14. Borrower’s Warranties
Each Borrower hereby warrants and undertakes on a continuing basis for time immemorial, that:

14(a) it licenced, approved and authorised to perform its obligations under this Agreement;

14(b) it is not otherwise restricted from borrowing Securities and performing its obligations under this Agreement;

14(c) it is can give full unencumbered legal and beneficial ownership of Collateral to Lender;

14(d) it is acting as principal; and

14(e) it is not borrowing for the primary purpose of voting on Loaned Securities.