Template:Absence of litigation: Difference between revisions

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 ====Existentially apocalyptic {{tag|litigation}}====
-Look, if your [[counterparty]] is banged up in court proceedings so awful to behold that an adverse finding might bankrupt it altogether, and your credit sanctioning team hasn’t got wind of it independently then, friend, you have way, way bigger problems than whether you have this feeble covenant. And, if you are only catching it at all thanks to a carelessly given [[absence of litigation]] rep, by the time said {{tag|litigation}} makes itself known to you<ref>Judgment day, in other words.</ref>''won’t it be a bit late''?
+Look, if your [[counterparty]] is banged up in court proceedings so awful to behold that an adverse finding might bankrupt it altogether, and your [[Credit department|credit sanctioning team]] hasn’t got wind of it independently then, friend, you have way, way bigger problems than whether you have this feeble covenant in your docs. And, if you are only catching it at all thanks to a carelessly given [[absence of litigation]] rep, by the time said {{tag|litigation}} makes itself known to you.<ref>[[Apocalypse|Judgment day]], in other words.</ref> ''won’t it be a bit late''?
+====[[Deemed repetition]]====
+Ah, you might say, but what about the [[deemed repetition]] of this [[representation]]? Doesn’t that change everything?
+===Deemed repetition===
+What of this idea that one not only [[Representations and warranties|represents and warrants]] as of the moment one inks the paper, but also is [[deemed]] to ''repeat'' itself an the execution of each trade, on any day, or whenever a butterfly flaps its wings on [[Fitzcarraldo|Fitzcarraldo’s steamer]]? Do we think it works? Do we? Given how practically '''useless''' even ''explicit'' [[representations]] are, ''does it really matter''?
+And, having given it, how are you supposed to ''stop'' a continuing {{tag|representation}} once it has marched off into the unknowable future, like one of those conjured brooms from the ''Sorcerer’s Apprentice''? If you don’t stop it, what then? This may seem fanciful to you, but what are buyside lawyers if not creatures of unlimited, gruesome imagination? Are their dreams not full with flights of just this sort of fancy? Rest assured that, as you do, they will be chewing their nails to the quick in insomniac fever about this precise contingency.
+For which reason — it being a faintly pointless {{t|representation}} in the first place and everything — it might be best just to concede this point when it arises, as inevitably it will.
 ====Pick your battles====
-All that said, and probably for all of the above reasons, parties tend not to care less about this representation too vehemently, so your practical course is most likely to leave it where you find it.
+All that said, and probably for all of the above reasons, parties tend not to care less about this [[representation]], so your practical course is most likely to leave it where you find it.