Borrower's Opinion Back-Up Certificate
About this template
This legal template titled "Borrower's Opinion Back-Up Certificate under USA law" is a document that serves as a backup or supporting certification by the borrower in the context of a legal transaction or agreement governed by US law.
The document likely contains a statement or declaration made by the borrower, which supports or confirms the accuracy, legality, and compliance of certain representations or opinions made by the borrower, typically in a loan or financing agreement.
This certificate is commonly required by lenders, financial institutions, or parties involved in a significant financial transaction to ensure the borrower's obligations, rights, covenants, and other terms under the primary agreement involving the loan or financing are in line with applicable laws and regulations.
It may include statements regarding the borrower's due authorization and execution of the agreement, the absence of any default or violations by the borrower, the ownership of the assets used as collateral, representation that any financial statements provided are accurate and complete, and compliance with specific legal requirements and provisions.
The purpose of this template is to provide additional legal certainty and comfort to the lenders or interested parties by obtaining a formal declaration from the borrower regarding the authenticity and correctness of the borrower's obligations and representations stated in the principal agreement.