Common use of Underwriting Representations Clause in Contracts

Underwriting Representations. Borrower hereby represents, warrants and covenants that, each Borrower: (a) is and always has been duly formed, validly existing, and in good standing in the state of its organization and in all other jurisdictions where it is qualified to do business; (b) to Borrower’s actual knowledge, has no judgments or liens of any nature against it except for tax liens not yet due; (c) is in compliance with all laws, regulations and orders applicable to it and, except as otherwise disclosed in this Agreement, has received all permits necessary for it to operate; (d) is not involved in any dispute with any taxing authority; (e) to Borrower’s knowledge, has paid all taxes which it owes; (f) has never owned any real property other than the Individual Property or Individual Properties reflected on Schedule VI as being owned by it (individually or collectively, as the context may dictate, the “Transaction Property”), and personal property necessary or incidental to its ownership or operation of the Transaction Property and has never engaged in any business other than the ownership and operation of the Transaction Property; (g) is not now, nor has ever been, party to any lawsuit, arbitration, summons or legal proceeding that is still pending or that resulted in a judgment against it that has not been paid in full; and (h) has no material contingent or actual obligations that are not related to the Transaction Property.