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And Bank of America, N.A., (the "Bank"), the undersigned hereby certifies as follows. Unless otherwise defined herein, the terms used in this Certificate have the meaning(s) assigned to it/them in the Agreement. 1. I am the duly appointed President, Chief Financial Officer or Administrator of Borrower; 2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under my supervision a detailed review of the transactions and condition of the Borrower during the ac.
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Covenant template FAQ
Examples of affirmative covenants include requirements to maintain adequate levels of insurance, requirements to furnish audited financial statements to the lender, compliance with applicable laws, and maintenance of proper accounting books and credit rating, if applicable.
About this document. A certificate accompanying the financial statements given by a borrower to a lender (in the case of a bilateral facility) or agent (in the case of a syndicated facility) under the terms of a facility agreement. A compliance certificate is often required to be delivered annually or semi-annually.
Manufacturer/ importer's identification such as the legal name, address and contact number. List of all safety regulations/standards that the product must pass. List of certificates awarded to manufacturer that the product has been tested and is compliant. The date and place where the product was manufactured.
A certificate of compliance is a document that certifies that a product or system meets the requirements of a safety regulation or standard. It is typically used in shipping and logistics to ensure that products are safe for transport and meet the destination country's requirements.
A Use Compliance Certificate is required any time a business occupies/moves into an existing building or an existing business expands the square footage used or adds to, or changes the business activities.
Covenant Compliance Certificate means a certificate in such form as may be acceptable to the Lender, containing all the financial covenants and ratios with which the Borrower is required to comply during the term of this Agreement and containing calculations reflecting whether or not the Borrower is in compliance with ...
While they sound similar, these terms are easy to differentiate. Compliance means that your management system fully adheres to the requirements of the standard. Certification means that your management system has actually been certified to be in conformance (compliance) with all the requirements of the standard.
A compliance certificate is often required to be delivered annually or semi-annually. The form of certificate is usually attached to the facility agreement as a Schedule. Typically, the certificate: Sets out details of financial covenants contained in the facility agreement as at a certain date or for a certain period.
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