2008-03-03-R - Laserfiche WebLink

Home Browse Search

(i) the representations and warranties of Lessee contained in this Agreement are true and correct on the date thereof; (ii) this Agreement has been duly authorized, executed and delivered by Lessee, and constitutes a valid and binding obligation of Lessee enforceable in accordance with its terms; (iii) there are no pending or threatened actions or proceedings before any court, administrative agency or other tribunal or body against Lessee which may materially affect Lessee's financial condition or operations, or which could have any effect whatsoever upon the validity,performance, or enforceability of this Agreement; (iv) the Agreement is a conditional sales agreement which qualifies as an obligation for purposes of Section 103(a) of the Internal Revenue Code of 1986, as amended, (the "Code") and Treasury regulations and rulings thereunder and the interest portion of the rental payments due hereunder is exempt from federal income taxation pursuant to Paragraph 103(a) of the Code and the Treasury regulations and rulings thereunder; (v) The Lessee is a fully constituted political subdivision or agency of the State where the Equipment is located as set forth herein and is authorized by the Constitution and laws of the State of Arkansas (the "State") and its own internal or administrative procedure to enter into the transactions contemplated by this Agreement and to carry out its obligations hereunder; and (vi) the Lessee has been duly authorized by all necessary action on the part of the Lessee, its governing body or other appropriate governing bodies and officials to execute, deliver, and perform the terms of this Agreement and further represents that all requirements and procedures have occurred that are necessary to ensure the enforceability of this Agreement, including Lessee's compliance with any applicable public bidding requirements; and (vii) such other matters as Lessor may reasonably request. (d) On the date thereof, no default (as defined in Paragraph 23 hereof), and no event which with notice or lapse of time, or both, would become a default, shall have occurred and be continuing hereunder. (e) All representations and warranties of Lessee made herein shall be true and correct in all material respects on the date thereof. (f) A financing statement, in form and substance satisfactory to Lessor, in respect of such Equipment shall have been executed and filed in the appropriate offices. (g) Lessor shall have received from Lessee written notice of acceptance of the Equipment. (h) Lessor shall have received all other documents, instruments, certificates, opinions, and evidences as Lessor may reasonably request. 3