Article 8. Representations and warranties

The Borrower covenants, represents and warrants that:

1. This agreement when executed and delivered does and will constitute the legal, valid and binding obligation of the Borrower enforceable in accordance with its terms;
2. All sums to be disbursed to and the obligations of the Borrower hereunder rank and will rank pari passu with all other unsecured indebtedness and contingent liabilities of the Borrower;
3. All acts, conditions and things required to be done and performed and to have happened prior to the execution and delivery of this Agreement in order to constitute all the obligations of the Borrower under this Agreement valid and binding obligations in accordance with their terms, have been done, have been performed and have happened in due and strict compliance with all applicable laws and regulations and the execution, delivery and performance of this Agreement, have been duly authorized by law and do not and will not violate any provision of any law to which the Borrower is subject or result in the breach of any agreement or instrument to which the Borrower is a party;
4. No event has occurred and is continuing or would result from the drawdown of the Loan which constitutes the obligation or which, upon a lapse of time or the giving of notice or both, would become one of those events mentioned in Article 11;
5. The Loan under this Agreement shall be used solely for the payment by the Buyer to the Seller for purchase of the Equipment under the Addendum.
6. All sums to be disbursed all sums to be paid all obligations to be fulfilled.
7. The sum has been disbursed the sums have been paid all the obligations have been fulfilled.

Unit 6

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