Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p72
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 181693–184667

result in a breach of or default under any provision of the Bank's Deed of Settlement;
         15.1.2 to the best of the Bank's knowledge, no statutory notices have been served on the Bank which might in any way impair, prevent or otherwise interfere with the Bank's performance of its obligations hereunder; and
         15.1.3 the Bank has all necessary licences (including statutory licences) and accreditation, consents, permissions, authorities and permits for the proper carrying on of its business and knows of no factors that might in any way prejudice the continuance or renewal of any of those licences, permissions or consents.
    15.2 Commonwealth
    The Commonwealth warrants that:
         15.2.1 it has full power and authority to enter into, execute and complete the transactions contemplated by this Agreement;
         15.2.2 the Amending Act shall be effective to transfer all of the rights, title, interests and obligations of the Corporation in and to the Portfolio Assets to the Bank in accordance with the provisions of this Agreement;
         15.2.3 as at the date hereof the Corporation is not a party to any action, claim, demand or suit or other legal challenge pertaining to the Portfolio Assets or any of them, which it has not disclosed in writing to the Bank prior to the date of this Agreement;
         15.2.4 the Corporation has not entered into any arrangement or understanding with any Borrower other than an agreement or understanding authorised by the Act under which it has agreed to vary or abrogate the Corporation's rights under any relevant Portfolio Mortgage, Portfolio Contract of Sale, Portfolio Supplementary Agreement, or other Portfolio Agreement; and
         15.2.5 the Portfolio Assets are as at the relevant Vesting Dates enforceable by the Corporation in accordance with their terms and, in the case of the Portfolio Mortgages, constitute effective security for the benefit of the Corporation.

SCHEDULE 1—continued
    16. INDEMNITIES
    16.1 Obligations of Bank
    The Bank shall indemnify and keep indemnified the Commonwealth, its officers, employees and agents ("the Commonwealth") from and against all and any reasonable losses, costs (including legal costs), liabilities, refunds, expenses and other outgoings incurred by the Commonwealth in connection with any claim made by a third party against the Commonwealth in relation to a Portfolio Asset to the extent to which those losses, costs, refunds, liabilities, expenses or other outgoings are incurred by the Commonwealth as a result of the Bank's failure to perform its obligations under this Agreement.
    16.2 Obligations of Commonwealth
    The Commonwealth shall indemnify and keep indemnified the Bank, its officers, employees and agents ("the Bank'') from and against all and any reasonable losses, costs (including legal costs), liabilities, refunds, expenses and other outgoings incurred by the Bank in connection with any claim made by a third