Common use of Knowledge of the Parties Clause in Contracts

Knowledge of the Parties. Where any representation or warranty contained in this Agreement is expressly qualified by reference to the knowledge of any of the parties hereto, each of the parties hereto acknowledges and confirms that it has made reasonable inquiry as to the matters that are the subject of such representations and warranties. Where reference is made to Community Bankshares' knowledge or any similar phrase, such reference shall be deemed to include the respective executive officers and directors of Community Bankshares and each of its Subsidiaries, all of whom shall be deemed to have conducted the inquiry required in this Section 12.8.