Common use of Specific Representations and Warranties Clause in Contracts

Specific Representations and Warranties. i. In addition to the representations and warranties provided at Section 2 (REPRESENTATIONS AND WARRANTIES) of Chapter 1 hereof, the Guarantor represents that: (a) The Mortgagor did not pay the Receivable, in full or in part, to the Guarantor and no cause for setoff or decrease of the receivable between the Guarantor and the Mortgagor has occurred. The Guarantor shall not accept any payment from the Mortgagor on account of the Receivable other than as provided in these GCS and under the Mortgage Agreement. (b) The Mortgagor is solvent and no proceedings have been initiated against it in view of opening insolvency, bankruptcy, winding-up, judicial reorganization or any similar proceedings.

Specific Representations and Warranties. i. In addition to the representations and warranties provided at Section 2 (REPRESENTATIONS AND WARRANTIES) of Chapter 1 hereof, the Guarantor represents that: (a) The Mortgagor did not pay the Receivable, in full or in part, to the Guarantor and no cause for setoff or decrease of the receivable between the Guarantor and the Mortgagor has occurred. The Guarantor shall not accept any payment from the Mortgagor on account of the Receivable other than as provided in these GCS and under the Mortgage Agreement. (b) The Mortgagor is solvent and no proceedings have been initiated against it in view of opening insolvency, bankruptcy, winding-up, judicial reorganization or any similar proceedings.