Liability for Breach of Representation Clause Samples

The "Liability for Breach of Representation" clause establishes that a party will be held responsible if any of the statements or assurances they have made in the contract are found to be untrue or inaccurate. In practice, this means that if a party makes a representation—such as confirming they have the authority to enter into the agreement or that certain facts are correct—and that representation turns out to be false, they may be required to compensate the other party for any resulting losses or damages. This clause serves to allocate risk between the parties and incentivizes honesty and accuracy in contractual disclosures, thereby protecting parties from harm caused by misinformation or misrepresentation.
Liability for Breach of Representation. Each of FMC and Subsidiary hereby represents that (1) it will read the Ruling Documents and Supplemental Ruling Documents prior to the date submitted, (2) all information contained in such Ruling Documents and Supplemental Ruling Documents that concerns or relates to such party or any affiliate of such party will be true, correct and complete in all material respects, and (3) except to the extent that such party shall have notified the other party in writing to the contrary and with reasonable specificity prior to the Distribution Date, all such information that concerns or relates to such party or any affiliate of such party will be true, correct and complete in all material respects as of the Distribution Date. If any Tax Authority withdraws all or any portion of a Ruling or Supplemental Ruling issued to FMC in connection with the Spin-Off because of a breach by Subsidiary or any Subsidiary Affiliate of a representation made in this Section 10.1(f), Subsidiary and each Subsidiary Affiliate shall be responsible for one hundred percent (100%) of any Tax-Related Losses resulting from such breach. In such event, Subsidiary and each Subsidiary Affiliate shall jointly and severally indemnify FMC, each FMC Affiliate and their directors, officers and employees and hold them harmless from and against any such Tax-Related Losses. If any Tax Authority withdraws all or any portion of a Ruling or Supplemental Ruling issued to FMC in connection with the Spin-Off because of a breach by FMC or any FMC Affiliate of a representation made in this Section 10.1(f), FMC and each FMC Affiliate shall be responsible for one hundred percent (100%) of any Tax-Related Losses resulting from such breach. In such event, FMC and each FMC Affiliate shall jointly and severally indemnify Subsidiary, each Subsidiary Affiliate and their directors, officers and employees and hold them harmless from and against any such Tax-Related Losses.
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Liability for Breach of Representation. To the -------------------------------------- extent that any Additional Restructuring Taxes are primarily attributable to a breach of representation made by Agilent pursuant to Section 5.2 of this Agreement, then one hundred percent (100%) of the amount of such Additional Restructuring Taxes shall be allocated to Agilent. To the extent that any Additional Restructuring Taxes are primarily attributable to a breach of representation made by Hewlett-Packard pursuant to Section 5.3 of this Agreement, then one hundred percent (100%) of the amount of such Additional Restructuring Taxes shall be allocated to Hewlett-Packard.
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Liability for Breach of Representation. Each of SCL and ▇▇▇▇ hereby represents that (1) it will read the Opinion Documents prior to the date submitted, (2) all information contained in such Opinion Documents that concerns or relates to such party or any affiliate of such party will be true, correct and complete in all material respects, and (3) except to the extent that such party shall have notified the other party in writing to the contrary and with reasonable specificity prior to the Spinoff Date, all such information that concerns or relates to such party or any affiliate of such party will be true, correct and complete in all material respects as of the Spinoff Date..
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Liability for Breach of Representation. Axcelis Technologies shall, and shall cause each member of the Axcelis Technologies Group to, comply with each representation and statement concerning Axcelis Technologies and the Axcelis Technologies Group made in the Ruling Documents and in the materials submitted to the Service in connection with the Ruling Documents, including, without limitation, statements relating to actions regarding the IPO and the use of IPO proceeds by the Axcelis Technologies Group. Axcelis Technologies has reviewed the materials submitted to the Service in connection with the Ruling Documents and represents to Eaton that these materials, including without limitation, any statements and representations concerning Axcelis Technologies, its business operations, capital structure and/or organization, are complete and accurate. During the Restricted Period, neither Axcelis Technologies nor any member of the Axcelis Technologies Group shall take any action, refrain from taking any action or enter into any transaction or series of transactions or agree to take any action, refrain from taking any action or enter into any transaction or series of transactions that could jeopardize the tax-free status of the Distribution, including any action, inaction or transaction that would be inconsistent with any representation or statement made to the Service in connection with the Ruling Documents, unless prior thereto Axcelis Technologies obtains the express written consent of Eaton which consent will be granted, if at all, in the sole discretion of Eaton. Axcelis Technologies hereby represents and warrants to Eaton that Axcelis Technologies has no intention to undertake or allow to be undertaken any of the transactions set forth in Section 9.1(d)(1)(iii), nor does Axcelis Technologies or any member of the Axcelis Technologies Group have any intention to cease to engage in the active conduct of its trade or business (within the meaning of Section 355(b)(2) of the Code).
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Liability for Breach of Representation. Luminent shall, and shall cause each member of the Luminent Group to, comply with each representation and statement concerning Luminent and the Luminent Group made in the Ruling Documents and in the materials submitted to the Service in connection with the Ruling Documents, including, without limitation, statements relating to actions regarding the IPO and the use of IPO proceeds by the Luminent Group. Luminent has reviewed the materials submitted to the Service in connection with the Ruling Documents and represents to MRV that these materials, including without limitation, any statements and representations concerning Luminent, its business operations, capital structure and/or organization, are complete and accurate. During the Restricted Period, neither Luminent nor any member of the Luminent Group shall take any action, refrain from taking any action or enter into any transaction or series of transactions or agree to take any action, refrain from taking any action or enter into any transaction or series of transactions that could jeopardize the tax-free status of the Distribution, including any action, inaction or transaction that would be inconsistent with any representation or statement made to the Service in connection with the Ruling Documents, unless prior thereto Luminent obtains the express written consent of MRV which consent will be granted, if at all, in the sole discretion of MRV. Luminent hereby represents and warrants to MRV that Luminent has no intention to undertake or allow to be undertaken any of the transactions set forth in Section 9.1(d)(1)(iii), nor does Luminent or any member of the Luminent Group have any intention to cease to engage in the active conduct of its trade or business (within the meaning of Section 355(b)(2) of the Code).
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Liability for Breach of Representation. MercFuel shall, and shall cause each member of the MercFuel Group to, comply with each representation and statement concerning MercFuel and the MercFuel Group made in the Ruling Documents and in the materials submitted to the Service in connection with the Ruling Documents, and to comply with each representation and statement concerning MercFuel and the MercFuel Group made in the Opinion Documents and in material submitted to Tax Counsel in connection with the Opinion Documents. MercFuel has reviewed the materials submitted to the Service in connection with the Ruling Documents and material submitted to Tax Counsel in connection with the Opinion Documents and represents to MAG that these materials, including without limitation, any statements and representations concerning MercFuel, its business operations, capital structure and/or organization, are complete and accurate. During the Restricted Period, neither MercFuel nor any member of the MercFuel Group shall take any action, refrain from taking any action or enter into any transaction or series of transactions or agree to take any action, refrain from taking any action or enter into any transaction or series of transactions that could jeopardize the tax-free status of the Distribution, including any action, inaction or transaction that would be inconsistent with any representation or statement made to the Service in connection with the Ruling Documents and any representation or statement made by Tax Counsel in connection with the Opinion Documents, unless prior thereto MercFuel obtains the express written consent of MAG which consent will be granted, if at all, in the sole discretion of MAG. MercFuel hereby represents and warrants to MAG that MercFuel has no intention to undertake or allow to be undertaken any of the transactions set forth in Section 9.1(d)(1)(iii), nor does MercFuel or any member of the MercFuel Group have any intention to cease to engage in the active conduct of its trade or business (within the meaning of Section 355(b)(2) of the Code).
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Related to Liability for Breach of Representation

  • Liability for Breach of Agreement During the term of this Agreement, any violation of any provisions herein by either party constitutes breach of contract and the breaching party shall compensate the non-breaching party for the loss incurred as a result of this breach.

  • Breach of Representation Any representation or warranty made or deemed made by any Borrower or any Guarantor in this Agreement, any Other Document or any related agreement or in any certificate, document or financial or other statement furnished at any time in connection herewith or therewith shall prove to have been misleading in any material respect on the date when made or deemed to have been made;

  • Liability for Breach of Contract 1. Party A and Party B shall strictly perform the terms stipulated in the agreement. If one party breaches the contract, the breaching party shall bear the liability for breach of contract according to the contract. 2. If the product is delivered by Party A to Party B and Party B fails to raise any objection to the product quality within the acceptance period, Party B shall not apply for return or replacement; If the product quality problems caused by Party B due to Party B's reasons or the intervention of a third party, which are not caused by the product itself, and caused by Party B's failure to raise any objection within the time limit since the date of acceptance, Party A can repair and rework the products, and Party B shall bear the rework service fee, material fee, processing fee, labor wages and other expenses incurred by Party A; 3. If the payment is not made in advance and then delivered, the ownership of the goods stipulated in this agreement still belongs to Party A before Party B pays off the payment, and Party A has the right to take back the goods at any time. Meanwhile, before this, Party B shall properly keep the goods and ensure that they are intact. If there is any damage, Party B shall compensate Party A according to the price of the goods agreed in the agreement. If the amount is not enough to make up for the losses, it shall also compensate Party A for all losses. 4. If Party B violates the agreement or refuses to perform the cooperation content during the cooperation period of this agreement, and refuses to perform or even withdraws from the cooperation after being urged by Party A, Party A has the right not to return the initial fee paid by Party B as a security deposit; At the same time, Party B shall cooperate with Party A to return all cooperation materials such as cooperation project materials and trademark product authorization documents, and compensate all economic losses suffered by Party A; 5. If Party B violates this agreement and causes losses to Party A, all expenses (including but not limited to attorney fees, legal fees, arbitration fees, announcement fees, preservation fees, guarantee fees, appraisal fees and auction evaluation fees) incurred by Party A for safeguarding its own legitimate rights and interests shall be borne by Party B; 6. If Party B cancels or changes the order without authorization, it shall pay 20% of the order price as liquidated damages and compensate Party A for all losses such as stocking, labor and profit.

  • Breach of Representations In entering into this Agreement, Consultant acknowledges that County is materially relying on the representations, warranties, and certifications of Consultant stated in this article. County shall be entitled to recover any damages it incurs to the extent any such representation or warranty is untrue. In addition, if any such representation, warranty, or certification is false, County shall have the right, at its sole discretion, to terminate this Agreement without any further liability to Consultant, to deduct from the compensation due Consultant under this Agreement the full amount of any value paid in violation of a representation or warranty, and to recover all sums paid to Consultant under this Agreement. Furthermore, a false representation may result in debarment from County’s procurement activities.

  • Remedies for Breach of Representations and Warranties It is understood and agreed that the representations and warranties set forth in Subsections 9.01 and 9.02 shall survive the sale of the Mortgage Loans to the Purchaser and shall inure to the benefit of the Purchaser, notwithstanding any restrictive or qualified endorsement on any Mortgage Note or Assignment of Mortgage or the examination or failure to examine any Mortgage File. With respect to any representation or warranty contained in Subsections 9.01 or 9.02 hereof that is made to the Seller's knowledge, if it is discovered by the Purchaser that the substance of such representation and warranty was inaccurate as of the related Closing Date and such inaccuracy materially and adversely affects the value of the related Mortgage Loan, then notwithstanding the Seller's lack of knowledge with respect to the inaccuracy at the time the representation or warranty was made, such inaccuracy shall be deemed a breach of the applicable representation or warranty. Upon discovery by either the Seller or the Purchaser of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other relevant parties. Within sixty (60) days after the earlier of either discovery by or notice to the Seller of any breach of a representation or warranty, which materially and adversely affects the value of the Mortgage Loans or the interest of the Purchaser therein (or which materially and adversely affects the value of the applicable Mortgage Loan or the interest of the Purchaser therein in the case of a representation and warranty relating to a particular Mortgage Loan), the Seller shall use its best efforts promptly to cure such breach in all material respects and, if such breach cannot be cured, the Seller shall, at the Purchaser's option, repurchase such Mortgage Loan or Mortgage Loans at the Repurchase Price. Notwithstanding the above sentence, (i) within sixty (60) days after the earlier of either discovery by, or notice to, the Seller of any breach of the representation and warranty set forth in clause (vv) of Subsection 9.02, the Seller shall repurchase such Mortgage Loan at the Repurchase Price and (ii) any breach of a Deemed Material and Adverse Representation shall automatically be deemed to materially and adversely affects the value of the Mortgage Loans or the interest of the Purchaser therein. In the event that a breach shall involve any representation or warranty set forth in Subsection 9.01, and such breach cannot be cured within 60 days of the earlier of either discovery by or notice to the Seller of such breach, all of the Mortgage Loans affected by such breach shall, at the Purchaser's option, be repurchased by the Seller at the Repurchase Price. However, if the breach shall involve a representation or warranty set forth in Subsection 9.02 (except as provided in the second sentence of this paragraph with respect to certain breaches for which no substitution is permitted) and the Seller discovers or receives notice of any such breach within 120 days of the related Closing Date, the Seller shall, at the Purchaser's option and provided that the Seller has a Qualified Substitute Mortgage Loan, rather than repurchase the Mortgage Loan as provided above, remove such Mortgage Loan and substitute in its place a Qualified Substitute Mortgage Loan or Qualified Substitute Mortgage Loans, provided, however, that any such substitution shall be effected within such one hundred twenty (120) days after the related Closing Date. If the Seller has no Qualified Substitute Mortgage Loan, it shall repurchase the deficient Mortgage Loan at the Repurchase Price. Any repurchase of a Mortgage Loan pursuant to the foregoing provisions of this Subsection 9.03 shall occur on a date designated by the Purchaser, and acceptable to Seller, and shall be accomplished by either (a) if the Interim Servicing Agreement has been entered into and is in effect, deposit in the Custodial Account of the amount of the Repurchase Price for distribution to the Purchaser on the next scheduled Remittance Date, after deducting therefrom any amount received in respect of such repurchased Mortgage Loan or Loans and being held in the Custodial Account for future distribution or (b) if the Interim Servicing Agreement has not been entered into or is no longer in effect, by direct remittance of the Repurchase Price to the Purchaser or its designee in accordance with the Purchaser's instructions. At the time of repurchase of any deficient Mortgage Loan (or removal of any Deleted Mortgage Loan), the Purchaser and the Seller shall arrange for the reassignment of the repurchased Mortgage Loan (or Deleted Mortgage Loan) to the Seller or its designee and the delivery to the Seller of any documents held by the Custodian relating to the repurchased Mortgage Loan (or Deleted Mortgage Loan). In the event of a repurchase or substitution, the Seller shall, simultaneously with such reassignment, give written notice to the Purchaser that such repurchase or substitution has taken place, amend the Mortgage Loan Schedule to reflect the withdrawal of the Deleted Mortgage Loan from this Agreement, and, in the case of substitution, identify a Qualified Substitute Mortgage Loan and amend the related Mortgage Loan Schedule to reflect the addition of such Qualified Substitute Mortgage Loan to this Agreement. In connection with any such substitution, the Seller shall be deemed to have made as to such Qualified Substitute Mortgage Loan the representations and warranties set forth in this Agreement except that all such representations and warranties set forth in this Agreement shall be deemed made as of the date of such substitution. The Seller shall effect such substitution by delivering to the Custodian or to such other party as the Purchaser may designate in writing for such Qualified Substitute Mortgage Loan the documents required by Subsection 6.03 and the Custodial Agreement, with the Mortgage Note endorsed as required by Subsection 6.03 and the Custodial Agreement. No substitution will be made in any calendar month after the Determination Date for such month. The Seller shall cause the Interim Servicer to remit directly to the Purchaser, or its designee in accordance with the Purchaser's instructions the Monthly Payment less the Servicing Fee due, if any, on such Qualified Substitute Mortgage Loan or Loans in the month following the date of such substitution. Monthly Payments due with respect to Qualified Substitute Mortgage Loans in the month of substitution shall be retained by the Seller. For the month of substitution, distributions to the Purchaser shall include the Monthly Payment due on any Deleted Mortgage Loan in the month of substitution, and the Seller shall