Common use of PNM’s Representations and Warranties Clause in Contracts

PNM’s Representations and Warranties. PNM represents and warrants the following: 15.2.1 PNM is a corporation duly organized under the laws of the State of New Mexico and is qualified to do business in each other jurisdiction where the failure to so qualify would have a material adverse effect upon the business or financial condition of PNM. PNM has all requisite power and authority to conduct its business, to own its properties, and to execute, deliver and perform its obligations under this Agreement. 15.2.2 The execution, delivery and performance of its obligations under this Agreement by PNM have been duly authorized by all necessary corporate action, and do not and will not: A. subject to obtaining the regulatory approvals identified in Section 19.2, violate any provision of law, rule, regulation, order, writ, judgment, injunction, decree, determination or award currently in effect having applicability to PNM or violate any provision in any corporate documents of PNM, the violation of which could have a material adverse effect on the ability of PNM to perform its obligations under this Agreement; B. result in a breach of or constitute a default under PNM’s charter or bylaws, or under any agreement relating to the management or affairs of PNM, or any indenture or loan or credit agreement, or any other agreement, lease or instrument to which PNM is a party or by which PNM or its properties or assets may be bound or affected, the breach or default of which could reasonably be expected to have a material adverse effect on the ability of PNM to perform its obligations under this Agreement; or C. result in, or require the creation or imposition of any mortgage, deed of trust, pledge, lien, security interest or other charge or encumbrance of any nature (other than as may be contemplated by this Agreement) upon or