Representation and warranties of the Authority Clause Samples
The 'Representation and warranties of the Authority' clause sets out the specific assurances and factual statements that the Authority makes to the other party in a contract. Typically, this clause confirms that the Authority has the legal power to enter into the agreement, that all necessary approvals have been obtained, and that there are no undisclosed legal impediments or conflicts. By providing these representations and warranties, the clause helps ensure that the Authority is fully authorized and capable of fulfilling its contractual obligations, thereby reducing the risk of disputes or invalid agreements.
Representation and warranties of the Authority. The Authority represents and warrants to the Implementation Agency that:
(a) it has full power and authority to execute, deliver and perform its obligations under this Agreement and to carry out the transactions contemplated herein and that it has taken all actions necessary to execute this Agreement, exercise its rights and perform its obligations, under this Agreement;
(b) it has taken all necessary actions under Applicable Laws to authorize the execution, delivery and performance of this Agreement;
(c) it has the financial standing and capacity to perform its obligations under this Agreement;
(d) this Agreement constitutes a legal, valid and binding obligation enforceable against it in accordance with the terms hereof;
(e) it has no knowledge of any violation or default with respect to any order, writ, injunction or any decree of any court or any legally binding order of any Government Instrumentality which may result in any Material Adverse Effect on the Authority’s ability to perform its obligations under this Agreement; and
(f) it has complied with Applicable Laws in all material respects
Representation and warranties of the Authority. The Authority hereby represents, assures, confirms and undertakes to the Operator as follows:
a. That it is duly incorporated under the laws of India and has the power to conduct its business as presently conducted, and to enter into this Agreement;
b. That it has full power, capacity and authority to execute, deliver and perform this Agreement and has taken all necessary sanctions and approvals and followed all the procedure required to authorise the execution, delivery and performance of this Agreement;
c. Nothing in this Agreement conflicts with its constitutional authority, mandate, or any law or any other agreement, understanding or arrangement or any judgment, decree or order or any statute, rule or regulation applicable to it; and
d. All approvals and permissions as are necessary for the execution of this Agreement have been obtained, all the required procedure for the due execution of this Agreement have been adhered to, and this Agreement will be valid, legal and binding against it under the Applicable Law.
Representation and warranties of the Authority. The Authority represents and warrants to the Concessionaire that:
a. it has full power and authority to execute, deliver and perform its obligations under this Agreement and to carry out the transactions contemplated herein and that it has taken all actions necessary to execute this Agreement, exercise its rights and perform its obligations, under this Agreement;
b. It has taken all necessary actions under Applicable Laws to authorize the execution, delivery and performance of this Agreement;
c. It has the financial standing and capacity to perform its obligations under this Agreement;
d. This Agreement constitutes a legal, valid and binding obligation enforceable against it in accordance with the terms hereof;
e. it has no knowledge of any violation or default with respect to any order, writ, injunction or any decree of any court or any legally binding order of any Government Instrumentality which may result in any material adverse effect on the Authority’s ability to perform its obligations under this Agreement;
f. It has complied with Applicable Laws in all material respects; and
g. it has good and valid right to the Site and has power and authority to grant a lease in respect thereto to the Concessionaire.
h. upon the Concessionaire paying the One-time upfront premium, fixed annual fee and revenue share and performing the covenants herein, it shall not at any time during the term hereof, interfere with peaceful exercise of the rights and discharge of the obligations by the Concessionaire, except in accordance with this Agreement.
Representation and warranties of the Authority. The Authority hereby represents and warrants to Buyer that: