Chase bank installment loans. LOAN AND SECURITY AGREEMENT
10. REPRESENTATIONS.
Borrower represents and warrants that: (a) Borrower is a firm, restricted liability business, partnership or proprietorship as previously mentioned below Borrowers signature duly arranged, validly current plus in good standing beneath the legislation for the state of their company as mentioned below Borrowers signature and Debtor is qualified to accomplish company and is in good standing underneath the laws and regulations of each and every other state where the Equipment is or is supposed to be found; (b) Borrowers name because set forth during the outset with this contract is its complete and proper name that is legal suggested into the public record information of Borrowers state of organization; (c) Borrower has complete power, authority and right in law to signal, deliver and perform this contract, the Note and all associated documents and such actions have already been duly authorized by all necessary business, business, partnership or proprietorship action; (d) this contract, the Note and each associated document happens to be duly finalized and delivered by Borrower and every such document takes its appropriate, legitimate and binding responsibility of Borrower enforceable prior to its terms; ( ag ag e) there is absolutely no litigation or other proceeding pending, or even to the best of the Borrowers knowledge, threatened against or affecting Borrower which, if determined adversely to Borrower, would adversely impact, impair or encumber the attention of Lender when you look at the gear or would materially adversely impact the company operations or monetary condition of Borrower; (f) all stability sheets, earnings statements along with other monetary information which were sent to Lender (or JPMorgan Chase Bank, N.A.) with regards to Borrower are complete and proper in every product respects, fairly current the financial condition of Borrower in the times which is why, as well as the link between its operations for the durations which is why, exactly the same have now been furnished while having been ready in accordance with generally accepted accounting maxims regularly used, (g) there is no material negative improvement in the health of Borrower, economic or else, considering that the date of the most extremely present monetary statements sent to Lender (or JPMorgan Chase Bank, N.A.), (h) Borrowers organizational quantity assigned to Borrower because of hawaii of their company is properly stated below Borrowers signature; (i) this contract and also the Note proof that loan made mainly for company, commercial or agricultural purposes rather than mainly for individual, family members, or home purposes; (j) the gear is certainly not, and can maybe not, be registered underneath the regulations of every international nation; (k) the gear is, and shall stay after all times, qualified to receive enrollment beneath the Act (since defined in Section 19 hereof); (l) the apparatus will probably be situated in, and mainly utilized in, the United States all as required by the Act; and (m) the gear won’t be found in breach of any legislation, legislation, ordinance or policy of insurance coverage affecting the upkeep, usage or trip associated with gear; and (letter) Borrower qualifies as being a resident for the usa as defined into the Act and can continue steadily to qualify as an usa resident in all aspects. Read More
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