Representations and Covenants Regarding the Collateral Sample Clauses

The "Representations and Covenants Regarding the Collateral" clause requires a party, typically the borrower, to affirm certain facts about the collateral and to promise to maintain specific conditions related to it. This may include assurances that the collateral is owned free of liens, is not subject to undisclosed claims, and will be kept in good condition or insured as required. By setting out these representations and ongoing promises, the clause ensures the lender’s security interest in the collateral is protected and reduces the risk of disputes or loss of value during the term of the agreement.
Representations and Covenants Regarding the Collateral. The Borrower represents and warrants that except for the security interests granted hereby, any liens set forth in Exhibit B, and liens permitted by this --------- Agreement, the Borrower is, or as to Collateral arising or to be acquired after the date hereof, shall be, the sole and exclusive owner, lessee, or licensee, as the case may be, of the Collateral, and the Collateral is and shall remain free from any and all liens, security interests, encumbrances, claims and interests, and no security agreement, financing statement, equivalent security or lien instrument or continuation statement covering any of the Collateral is on file or of record in any public office. The Borrower shall not create, permit or suffer to exist, shall take such action as is necessary to remove, any claim to or interest in or lien or encumbrance upon the Collateral except the security interest granted hereby and any liens or encumbrances set forth in Exhibit B, --------- and shall defend the right, title and interest of the Bank in and to the Collateral against all claims and demands of all persons and entities at any time claiming the same or any interest therein. The Borrower shall (a) maintain its principal place of business and chief executive office at the address set forth in paragraph 10.1 of this Agreement, and the records concerning the Collateral shall be kept at that address unless the Bank shall give its prior written consent otherwise; (b) keep the Collateral at the locations set forth in Exhibit C attached hereto and maintain no other place of business or place where --------- Collateral is located, except as shown in Exhibit C attached hereto; and (c) --------- deliver to the Bank at least thirty (30) days prior to the occurrence of any of the following events, written notice of such impending events: (i) a change in the principal place of business or chief executive office; (ii) the opening or closing of any place of business; or (iii) a change in name, identity or corporate structure.
View SourceView Similar (5)
Representations and Covenants Regarding the Collateral. Application of Proceeds from Collection of Accounts; Setoff; Government Accounts; Perfection; Lien Notation. ......................................... 7 4.4
View SourceView Similar (2)
Representations and Covenants Regarding the Collateral. The Companies represent, warrant, and covenant to the best of their knowledge and in good (a) except for the security interests and liens granted hereby, and subject to the provisions of subsection 5.5 hereof, one or more of the Companies are, or as to Collateral arising or to be acquired after the date hereof, shall be, the sole and exclusive owner of the Collateral, and the Collateral is and shall remain free from any and all liens, security interests, encumbrances, claims, and interests, and no security agreement, financing statement, equivalent security, or lien instrument, or continuation statement covering any of the Collateral is on file or of record in any public office, (b) the Companies shall not create, permit, or suffer to exist, and shall take such action as is necessary to remove, any claim to or interest in, or lien or encumbrance upon the Collateral except the security interests granted hereby and subject to the provisions of subsection 5.5 hereof, and shall defend the right, title, and interest of the Bank in and to the Collateral against all claims and demands of all persons and entities at any time claiming the same or any interest therein; (c) the Companies' principal place of business and chief executive office is located at the address set forth in subsection 9.3 of this Agreement; the Collateral, to the extent possible, and the records concerning the Collateral shall be kept at that address unless the Bank shall give its prior written consent otherwise; and the Companies have no other places of business or place where the Collateral is located except 6954 Americana Parkway, Reynoldsburg, O▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇g, Te▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ High Street, Suite 2410, Colu▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇; (▇) ▇▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇ less frequently than annually the Companies shall provide the Bank with an updated report disclosing the location(s) of the Collateral and of any records pertaining thereto; (e) at least thirty (30) days prior to the occurrence of any of the following events, the Companies shall deliver to the loan officer who is handling the Companies' Obligations on behalf of the Bank written notice of such impending events: (i) a change in and of the Companies' principal place of business or chief executive office; (ii) the opening or closing of any place of the Companies' name, identity or corporate structure; (f) each of the Accounts is based on an actual and bona fide sale and d...
View SourceView Similar (2)
Representations and Covenants Regarding the Collateral. Debtor represents, warrants and covenants as follows: (a) Except for the security interest granted hereby: (i) Debtor is, or as to Collateral arising or to be acquired after the date hereof, shall be, the sole and exclusive owner of the Collateral, and the Collateral is and shall remain free from any and all liens, encumbrances, claims and interests; and (ii) Debtor has rights in or the power to transfer the Collateral. (b) Except for the security interest granted hereby, Debtor: (i) shall not create, permit or suffer to exist, and shall take such action as is necessary to remove, any claim to or interest in or restriction, lien or encumbrance on the Collateral; and (ii) shall defend the right, title and interest of Secured Party in and to the Collateral against all claims and demands of all persons and entities at any time claiming the same or any interest therein. (c) (i) Debtor’s exact legal name and state of organization are as set forth in the first paragraph of this Agreement; (ii) Debtor shall not change its legal name, state of organization, chief executive office or principal place of business without 30 days prior written notification to Secured Party; and (iii) Debtor shall not change the location of the Collateral without 30 days prior written notification to Secured Party. (d) The Collateral is and shall be used primarily for Business purposes.
View Source

Related to Representations and Covenants Regarding the Collateral

  • Representations and Covenants In accordance with IRS Notice 2001-82 and IRS Notice 88-129, Developer represents and covenants that (i) ownership of the electricity generated at the Large Generating Facility will pass to another party prior to the transmission of the electricity on the New York State Transmission System, (ii) for income tax purposes, the amount of any payments and the cost of any property transferred to the Connecting Transmission Owner for the Connecting Transmission Owner’s Attachment Facilities will be capitalized by Developer as an intangible asset and recovered using the straight-line method over a useful life of twenty (20) years, and

  • Representations and Covenants of the Company The Company makes the following representations and covenants in order to induce the Agency to proceed with the Project: a. The Company is a business corporation duly formed and validly existing under the laws of the State of New York, has the authority to enter into this Agreement, and has duly authorized the execution and delivery of this Agreement. b. Neither the execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, nor the fulfillment of or compliance with the provisions of this Agreement will conflict with or result in a breach of any of the terms, conditions or provisions of any restriction or any agreement or instrument to which the Company is a party or by which it is bound, or will constitute a default under any of the foregoing, or result in the creation or imposition of any lien of any nature upon any of the property of the Company under the terms of any such instrument or agreement. c. The Project and the operation thereof will conform with all applicable zoning, planning, building and environmental laws and regulations of governmental authorities having jurisdiction over the Project, and the Company shall defend, indemnify and hold the Agency harmless from any liability or expenses resulting from any failure by the Company to comply with the provisions of this subsection. d. There is no action, suit, proceeding, inquiry or investigation, at law or in equity, before or by any court, public board or body pending or, to the knowledge of the Company, threatened against or affecting the Company, to which the Company is a party, an in which an adverse result would in any way diminish or adversely impact on the Company’s ability to fulfill its obligations under this Agreement. e. The Company covenants that the Project will comply in all respects with all environmental laws and regulations, and, except in compliance with environmental laws and regulations, (i) that no pollutants, contaminants, solid wastes, or toxic or hazardous substances will be stored, treated, generated, disposed of, or allowed to exist at the Project except in compliance with all material applicable laws, (ii) the Company will take all reasonable and prudent steps to prevent an unlawful release of hazardous substances at the Project or onto any other property,