Mancls Clause Samples

Mancls. Except as otherwise stated herein, the Mancls, individually and jointly and severally make the following representations as the basis for their covenants herein: (i) Each of them is an adult resident of the State of Wisconsin and they are married to each other. (ii) This Bond Agreement and the obligations evidenced or contemplated hereby are being incurred in the interest of their marriage or family and each consents to the incurrence of such obligations by the other and each of them acknowledges that they have received adequate consideration for the incurrence of such obligations. (iii) The execution and delivery of this Bond Agreement and the Promissory Note, the consummation of the transactions contemplated by such instruments, and the fulfillment of the terms and conditions of such instruments do not and will not conflict with or result in a breach of any of the terms or conditions of any mortgage, indenture, loan agreement or other restriction or of any agreement or instrument to which either or both of them is now a party (including any martial property or similar agreement) or to which the property of either or both of them is subject, and do not and will not constitute a default under any of the foregoing or result in the creation or imposition of any lien, charge or encumbrance of any nature upon any of the property or assets of either or both of them contrary to the terms of any instrument or agreement to which either or both of them is a party or by which any of his, her or their property or assets is bound. (iv) This Bond Agreement constitutes the legal, valid and binding obligation of each of them, individually, enforceable in accordance with its terms, except as the enforceability may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, conservatorship, receivership or similar laws affecting the enforcement of creditors' rights generally and general equitable principles. (v) Neither of them has been adjudged an incompetent or spendthrift and neither of them is the subject of any guardianship nor is any such guardianship or similar proceeding pending or threatened. (vi) Neither of them has entered into this Bond Agreement or the transactions contemplated under duress, threat or coercion of any kind or nature.