Shohimardonobod mastona chashmalari

Section-16 REPRESENTATIONS, WARRANTIES, AND COVENANTS

1. 
   The Company represents and warrants on the date hereof to ITFC and acknowledges that ITFC has agreed to this Agreement in reliance on the following representations and warranties:
   

1. 
   It has power to enter into this Agreement and to perform its obligations hereunder and all action required to authorize the execution of this Agreement and the performance by the Company of its obligations hereunder has been duly taken;
   
2. 
   All necessary action legally required to enable it lawfully to enter into, exercise its rights under and perform the obligations undertaken by it in this Agreement have been duly taken and are in full force and effect;
   
3. 
   That the Company have all the power and all necessary permits and governmental approvals to proceed with the Purchase of the Goods as part of this Agreement;
   
4. 
   The obligations undertaken by it under this Agreement are legal, valid and binding obligations binding on it in accordance with their terms under the laws of the Republic of Uzbekistan and that it is not necessary for the legality, validity or enforceability of this Agreement that it be filed, recorded or enrolled with any court or an agency of the Republic of Uzbekistan
   
5. 
   All acts, conditions and things (including exchange control consents) required by the laws of the Republic of Uzbekistan to be done, fulfilled and performed in order to:
   

1. 
   enable the Company lawfully to enter into and perform the obligations expressed to be assumed by it in this Agreement;
   
2. 
   ensure that the obligations expressed to be assumed by it in this Agreement are legal, valid and enforceable; and
   
3. 
   make this Agreement admissible in evidence in the Republic of Uzbekistan without further steps or formalities have been done, fulfilled and performed in strict compliance with the laws and Constitution of the Republic of Uzbekistan
   

6. 
   That the Company is a company duly incorporated under the laws of the Republic of Uzbekistan and registered in the trade register of the Republic of Uzbekistan in accordance with the Applicable Laws and regulations;
   
7. 
   That it has the appropriate powers, all required authorizations and the legal rights to execute all its obligations under any agreement to which it is party, and any exportation contract entered into.
   
8. 
   That it has obtained and maintains effective all authorizations, approvals and licenses from government bodies, ministries, administrative agencies or any other competent authority (including but not limited to the controller of foreign exchange) as required by the constitution of the Republic of Uzbekistan or any other applicable law in order to conclude and execute the sale, purchase and transport of the Goods.
   

2. 
   Each representation, warranty and covenant are deemed to be repeated by the Company on the date of each Utilization. It is deemed to be made by reference to the circumstances existing at the time of the representation or warranty.