Template:Nutshell GMSLA 14

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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.