Common use of No Express or Implied Warranties Clause in Contracts

No Express or Implied Warranties. The Seller makes no warranty, express or implied, whether of merchantability, quality, or suitability or fitness for a particular purpose, as to the Assets or as to the business or any part thereof, or as to the condition or workmanship of any of the Assets or as to the absence of any defects therein, whether latent or patent, it being understood that the Assets are to be contributed and transferred hereunder "AS IS, WHERE IS" on the Closing Date, and the Purchaser shall rely upon its own examination and evaluation thereof and of the business.