Truth and Correctness of Representations and Warranties. (a) The Customer acknowledge that the Bank has accepted this Agreement on the basis of and in full reliance upon, the aforesaid representations and warranties, which are correct and complied with in all material respects so long as this Agreement shall remain in force and each of the above representations and warranties will be correct and complied with in all material respects throughout the subsistence of this Agreement. (b) If any such representations and warranties made shall at any time hereafter found to have been incorrect in any material respect then in such event and notwithstanding anything to the contrary contained herein, the Bank shall have the right at its discretion to review, suspend or terminate the Facility or any part thereof. (c) Each disbursement of the Customer’s Selling Price(s) shall constitute and each payment of any sums due and payable by the Customer shall, unless the Customer notifies the Bank in writing to the contrary, constitute a representation and warranty by the Customer that at the time of each disbursement or payment no event of default or event which with the giving of notice or passing of time or both would constitute an event of default has occurred and that the representations and warranties in Section 10.01 are true and correct as at the date of each disbursement.
Appears in 2 contracts
Sources: Master Facility Agreement, Master Facility Agreement