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Template:GMSLA 2010 14: Difference between revisions
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{{gmslaprov|14}}.'''{{gmslaprov| | {{gmslaprov|14}}. '''{{gmslaprov|Borrower’s Warranties}}'''<br> | ||
Each {{gmslaprov|Party}} hereby warrants and undertakes to the other on a continuing basis to the intent that such warranties shall survive the completion of any transaction contemplated herein that, where acting as a {{gmslaprov|Borrower}}: <br> | Each {{gmslaprov|Party}} hereby warrants and undertakes to the other on a continuing basis to the intent that such warranties shall survive the completion of any transaction contemplated herein that, where acting as a {{gmslaprov|Borrower}}: <br> | ||
:{{gmslaprov|14(a)}} it has all necessary licences and approvals, and is duly authorised and empowered, to perform its duties and obligations under this {{gmslaprov|Agreement}} and will do nothing prejudicial to the continuation of such authorisation, licences or approvals; <br> | :{{gmslaprov|14(a)}} it has all necessary licences and approvals, and is duly authorised and empowered, to perform its duties and obligations under this {{gmslaprov|Agreement}} and will do nothing prejudicial to the continuation of such authorisation, licences or approvals; <br> | ||
:{{gmslaprov|14(b)}} it is not restricted under the terms of its constitution or in any other manner from borrowing {{gmslaprov|Securities}} in accordance with this {{gmslaprov|Agreement}} or from otherwise performing its obligations hereunder; <br> | :{{gmslaprov|14(b)}} it is not restricted under the terms of its constitution or in any other manner from borrowing {{gmslaprov|Securities}} in accordance with this {{gmslaprov|Agreement}} or from otherwise performing its obligations hereunder; <br> | ||
:{{gmslaprov|14(c)}} it is absolutely entitled to pass full legal and beneficial ownership of all {{gmslaprov|Collateral}} provided by it hereunder to {{gmslaprov|Lender}} free from all liens, charges and encumbrances; <br> | :{{gmslaprov|14(c)}} it is absolutely entitled to pass full legal and beneficial ownership of all {{gmslaprov|Collateral}} provided by it hereunder to {{gmslaprov|Lender}} free from all liens, charges and encumbrances; <br> | ||
:{{gmslaprov|14(d)}} it is acting as principal in respect of this {{gmslaprov|Agreement}}; and <br> | :{{gmslaprov|14(d)}} it is acting as principal in respect of this {{gmslaprov|Agreement}}; and <br> | ||
:{{gmslaprov|14(e)}} it is not entering into a {{gmslaprov|Loan}} for the primary purpose of obtaining or exercising voting rights in respect of the {{gmslaprov|Loaned Securities}}. <br> | :{{gmslaprov|14(e)}} it is not entering into a {{gmslaprov|Loan}} for the primary purpose of obtaining or exercising voting rights in respect of the {{gmslaprov|Loaned Securities}}. <br> | ||