Common use of MAKER’S REPRESENTATIONS AND WARRANTIES Clause in Contracts

MAKER’S REPRESENTATIONS AND WARRANTIES. The Maker represents and warrants to the Payee that the Maker has the legal capacity to execute, deliver and perform this Note. The Maker owns the Pledged Shares, beneficially and of record, free and clear of any liens or encumbrances. The execution, delivery and performance by the Maker of this Note do not violate any law, or result in a breach of or default under, or would, with the giving of notice or the lapse of time or both, constitute a breach of or default under, or cause or permit the acceleration of any obligation owed under, any indenture, loan or credit agreement or any other contractual obligation to which the Maker is a party or by which the Maker or any of its property or assets are bound or affected. This Note has been executed and delivered by the Maker and constitutes the legal, valid and binding obligation of the Maker enforceable against the Maker in accordance with its terms.