10. REPRESENTATIONS.
Borrower represents and warrants that: (a) Borrower is just a business, limited liability company, partnership or proprietorship as mentioned below Borrowers signature duly arranged, validly current plus in good standing under the guidelines regarding the state of their company as mentioned below Borrowers signature and Debtor is qualified doing company and it is in good standing underneath the legislation of each and every other state where the gear is or will undoubtedly be situated; (b) Borrowers title because set forth during the outset for this Agreement is its complete and proper name that is legal suggested within the public record information of Borrowers state of organization; (c) Borrower has full energy, authority and right to signal, deliver and perform this contract, the Note and all associated papers and such actions have now been duly authorized by all necessary business, business, partnership or proprietorship action; (d) this contract, the Note and each relevant document is duly finalized and delivered by Borrower and every such document is really a appropriate, legitimate and binding responsibility of Borrower enforceable prior to its terms; ( ag e) there’s absolutely no litigation or other proceeding pending, or even to the very best of the Borrowers knowledge, threatened against or impacting Borrower which, if decided adversely to Borrower, would adversely impact, impair or encumber the attention of Lender in the gear or would materially adversely impact the company operations or monetary condition of Borrower; (f) all stability sheets, earnings statements along with other economic information which have been sent to Lender (or JPMorgan Chase Bank, N.A.) with regards to Borrower are complete and proper in most material respects, fairly current the economic condition of Borrower from the times which is why, while the link between its operations when it comes to durations which is why, exactly the same have already been furnished and now have been ready relative to generally accepted accounting maxims regularly used, (g) there’s been no material undesirable improvement in the health of Borrower, economic or elsewhere, because the date of the most extremely current economic statements brought to Lender (or JPMorgan Chase Bank, N.A.), (h) Borrowers organizational number assigned to Borrower by hawaii of its company is precisely stated below Borrowers signature; (i) this contract as well as the Note proof that loan made mainly for company, commercial or agricultural purposes rather than primarily for individual, household, or home purposes; (j) the apparatus is certainly not, and won’t, be registered underneath the guidelines of every foreign nation; (k) the gear is, and shall stay after all times, entitled to enrollment underneath the Act (because defined in Section 19 hereof); (l) the gear will probably be located in, and mainly found in, the United States all as needed by the Act; and (m) the apparatus won’t be utilized in breach of every legislation, legislation, ordinance or policy of insurance impacting the upkeep, usage or journey associated with the gear; and (n) Borrower qualifies being a citizen associated with united states of america as defined when you look at the Act and can continue steadily to qualify as an united states of america resident in all aspects. (más…)
