Common use of Knowledge Qualification Clause in Contracts

Knowledge Qualification. Whenever a representation or ----------------------- warranty is made herein based on the knowledge of Seller or Purchaser (as the case may be), such representation or warranty is made based on the actual knowledge of Seller or Purchaser (as the case may be) including any officer, director or responsible employee thereof, and on the knowledge which Seller or Purchaser (as the case may be) would have had if it had conducted a diligent inquiry into the subject matter of the representation or warranty.

Knowledge Qualification. Whenever a representation or ----------------------- warranty is made herein based on the knowledge of Seller or Purchaser (as the case may be), such representation or warranty is made based on the actual knowledge of any executive officer of Seller or Purchaser (as the case may be) including any officer, director or responsible employee thereof, who has been actively involved in the negotiation of this Agreement and on the knowledge which Seller or Purchaser (as the case may be) would have had if it had conducted a diligent inquiry into the subject matter of the representation or warrantyTransactions.