SanDisk 2004 Annual Report Download - page 102
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5. Lessee shall procure a document to certify obtainment of insurance satisfying conditions described in the above Sections from the
insurance company as provided for in Section 19.1, at any time prior to the Delivery Date under Article 4 and at the beginning of
each term of the relevant insurance contract (at least once in a year) during the period for which obtainment of such insurance is
required under this Agreement, and deliver such document to Lessor.
6. In any case, the insurance conditions provided for in this Article 19 shall not be less favorable in any respect than those of
insurances obtained for any property similar to the Property used by Lessee. If conditions of the insurance obtained under this
Agreement shall be less favorable to those of such other insurances, conditions of the insurance under this Agreement shall be
changed to such more favorable conditions, and Lessee shall promptly obtain insurance under such changed conditions.
Article 20. Representations and Warranties
1. Lessee represents and warrants as follows as of the execution date of this Agreement:
(1) Lessee has any and all abilities and powers required under applicable laws and its internal rules to execute the Relating
Agreements to which Lessee is a party, exercise rights and perform obligations under such Relating Agreements, and the
resolution of the general meeting of members or any other procedures required under applicable laws or its internal rules to
prepare the Relating Agreements, and exercise rights and perform obligations under such Relating Agreements are taken.
(2) Preparation, delivery and performance of the Relating Agreements to which Lessee is a party do not constitute in any respect
breach against applicable laws and regulations, Lessee’s Articles of Incorporation and other constitutional documents, and
other agreements to which Lessee is a party.
(3) The Relating Agreements to which Lessee is a party are lawful, effective and binding agreements of Lessee, enforceable
pursuant to provisions of each Relating Agreements.
(4) Preparation and delivery of the Relating Agreements to which Lessee is a party, and implementation or performance by
Lessee of transactions contemplated under such Relating Agreements do not require any approval or authorization from, or
filing or registration with Japanese governmental authorities or Japanese courts, or any other procedures, except for those
already complete.
(5) No judicial or administrative procedure is pending that may cause any material adverse effect to the execution of any right or
performance of any obligation by Lessee under the Relating Agreements to which Lessee is a party.
(6) Lessee has disclosed its project plan for the business year including the execution date hereof adopted by the board of
directors to Lessor, Borrower and Lender to the extent it is reasonably considered necessary for the performance of this
Agreement.
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