Common use of Owner’s Representations Clause in Contracts

Owner’s Representations. Each Owner hereby represents and warrants as follows: (a) That Owner is duly organized, validly existing and in good standing under the laws of the State of its organization, and has all requisite company power and authority to own, lease and operate the Properties and its other assets and business and to carry on its business as now being conducted. (b) That Owner has the full legal right, power and authority required to enter into, execute and deliver this Agreement and to perform fully its obligations hereunder. This Agreement has been duly authorized, executed and delivered by that Owner and is a valid and binding obligation of that Owner enforceable in accordance with its terms. (c) No consent, approval, authorization or order of, or qualification with, any court, governmental authority or agency or any other Person or entity is required in connection with the execution, delivery or performance by that Owner of this Agreement or any other agreement contemplated by this Agreement, and this Agreement does not conflict with any other agreements, laws, orders or obligations binding upon that Owner. (d) That Owner is not a debtor in any outstanding action or proceeding pursuant to any Bankruptcy Law. That Owner is not contemplating either the filing of a petition by it under any Bankruptcy Law or the liquidation of any Property or all or a major portion of its assets or property.