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Q: What is breach of covenant ?

Ans: Breach of covenants:  Where a counterparty has agreed to do something under the contract (which may not be directly related to the commercial transaction being undertaken) and it is not done, it will result in a breach of covenant. For instance, if a borrowing entity covenants that it will inform the bank in the event of any natural damage to the property secured and it does not do so, it will be a breach of a covenant, even if it does not directly relate to the repayment of the loan or payment of interest which is at the core of the transaction. The ability of the Bank to invoke the security will go down if there is any damage to it. Therefore a breach in a covenant can also result in a financial loss.
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Q: State covenant in contract law ?

Ans:  In its broadest sense, a covenant is a promise, agreement, or contract between two parties. As part of the covenant, the two parties agree that certain activities will or will not be carried out.
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Q: What is breach of representations and warranty ?

Ans: Breach of representations and warranties:  Where a party enters into a contract on the basis of representations from the other party and these do not turn out to be true, the other party may not want to continue to be part of the contract anymore, For example, if a borrowing company represented to the Bank that it had secured all the requisite approvals under the law for entering into the contract and it is later on discovered that the required shareholders' approvals were not taken, this will be a breach of representation. This can result in issues if the shareholders do not provide the approval as required under the law and the borrowing entity is penalised for not following the law. In such circumstances, the lender may not wish to continue releasing the later disbursements of the loan and may even wish to take back the funds already lent. This will result in a loss to the lender because those funds may have rather been provided to an entity which was in compliance wit...
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Q: Partnership Deed 2

 Ans: THIS DAY this agreement is entered into by and between  Shri Darpan Sharma, hereinafter referred to as "First Partner ", whether one or more, and, Shri Mohit Trivedi referred to as "Second Partner", whether one or more, on the terms and conditions and for the purposes hereinafter set forth;
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partnership deed date of produced ?

Ans: THIS DEED OF PARTNERSHIP made at Delhi on this 17th day of September  2023.  BETWEEN: 1. Darpan Sharma , an Indian inhabitant, son/daughter of Shri Harshit Sharma, residing at Chanakyapuri , Delhi (hereinafter referred to as the "First Partner" which expression shall unless it is repugnant to the context, mean and include his legal heirs, successors, administrators and assigns or anyone claiming through or under him); and 2. Mohit Trivedi, an Indian inhabitant, son/daughter of Shri  Mukesh Trivedi, residing at Hauz Khas, Delhi " which expression shall unless it is repugnant to the context, mean and include his legal heirs, successors, administrators and assigns or anyone claiming through or under him); Who are hereinafter collectively referred to as "Partners" and individually as "Partner". WHEREAS A. The Partners have decided to enter into a partnership for carrying on the business mentioned in Clause 4 of this Partnership Deed. B. The Partners ...
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