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| A section of a loan agreement in which the borrower asserts the truth of information regarding the borrower's state of affairs.
| | ''Contract law.'' |
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| They generally assert that the borrower is empowered to borrow, that it is legally constituted and so forth.
| | Repudiatory breach. |
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| They may also assert that there is no legal claim against the borrower at the time of the agreement being made.
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| Whilst there are some technical differences between the effects of representations and of warranties, most loan agreements in practice set out these clauses to be both representations ''and'' warranties.
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| == See also == | | == See also == |
| * [[Covenant]] | | * [[Repudiatory breach]] |
| * [[Event of default]]
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| * [[Loan agreement]]
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| * [[Warranty]]
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| [[Category:Treasury_operations_infrastructure]] | | [[Category:Compliance_and_audit]] |
Latest revision as of 14:43, 20 August 2013
Contract law.
Repudiatory breach.
See also
