REPRESENTATIONS AND WARRANTIES 76 Clause Samples
The 'Representations and Warranties' clause sets out the factual statements and assurances each party makes to the other regarding key aspects of the agreement. These statements may cover matters such as authority to enter into the contract, ownership of assets, compliance with laws, or the absence of undisclosed liabilities. By clearly outlining these assurances, the clause helps allocate risk between the parties and provides a basis for legal remedies if any representation or warranty proves to be false.
REPRESENTATIONS AND WARRANTIES 76. 6.01 Corporate Existence and Power 76 6.02 Corporate Authorization; No Contravention 77 6.03 Governmental Authorization 77 6.04 Binding Effect 77 6.05 Litigation 77 6.06 No Default 78 6.07 ERISA Compliance 78 6.08 Use of Proceeds; Margin Regulations 79 6.09 Title to Properties 79 6.10 Taxes 79 6.11 Financial Condition 80 6.12 Environmental Matters 80 6.13 Regulated Entities 80 6.14 No Burdensome Restrictions; No Restrictions on Subsidiary Dividends 81 6.15 Copyrights, Patents, Trademarks and Licenses, etc. 81 6.16 Subsidiaries 81 6.17 Insurance 81 6.18 Swap Obligations 82 6.19 Credit Limit for Subsidiary Borrowers 82 6.20 Full Disclosure 82 ARTICLE VII AFFIRMATIVE COVENANTS 82 7.01 Financial Statements 83 7.02 Certificates; Other Information 84 7.03 Notices 84 7.04 Preservation of Corporate Existence, Etc 85 7.05 Maintenance of Property 86 7.06 Insurance 86 7.07 Payment of Obligations 86 7.08 Compliance with Laws 87 7.09 Compliance with ERISA 87 7.10 Inspection of Property and Books and Records 87 7.11 Environmental Laws 87 7.12 Use of Proceeds 88 7.13 Internal Controls 88 7.14 New Material Subsidiaries 88 ARTICLE VIII NEGATIVE COVENANTS 89 8.01 Limitation on Liens 89 8.02 Disposition of Assets 91 8.03 Consolidations and Mergers 91 8.04 Loans and Investments 93 8.05 Limitation on Subsidiary Indebtedness 94 8.06 Transactions with Affiliates 94 8.07 Use of Proceeds 94 8.08 Contingent Obligations 95 8.09 Joint Ventures 96 8.10 ERISA 96 8.11 Change in Business 96 8.12 Accounting Changes 96 8.13 Minimum Consolidated Net Worth 96 8.14 Fixed Charge Coverage Ratio 96 8.15 Leverage Ratio 97 8.16 No Restrictions on Subsidiary Dividends 97 ARTICLE IX EVENTS OF DEFAULT 97 9.01 Event of Default 97 9.02 Remedies 101 9.03 Rights Not Exclusive 102 ARTICLE X THE AGENT 102
10.01 Appointment and Authorization; "Agent" 102 10.02 Delegation of Duties 103 10.03 Liability of Agent 103 10.04 Reliance by Agent 104 10.05 Notice of Default 104 10.06 Credit Decision 105 10.07 Indemnification of Agent 105 10.08 Agent in Individual Capacity 106 10.09 Successor Agent 106 10.10 Withholding Tax 107 10.11 Co-Agents 109 ARTICLE XI MISCELLANEOUS 109
11.01 Amendments and Waivers 109 11.02 Notices 111 11.03 No Waiver; Cumulative Remedies 112 11.04 Costs and Expenses 112 11.05 Company Indemnification 112 11.06 Payments Set Aside 113 11.07 Successors and Assigns 114 11.08 Assignments, Participations, etc. 114 11.09 Confidentiality 116 11.10 Set-off 117 11.11 Automatic Debits of Fees 118 11.12 In...
REPRESENTATIONS AND WARRANTIES 76. Section 3.1. Legal Status and Authority 76 Section 3.2. Validity of Documents 76 Section 3.3. Litigation 77 Section 3.4. Agreements 77 Section 3.5. Financial Condition 78 Section 3.6. Disclosure 78 Section 3.7. No Plan Assets 78 Section 3.8. Not a Foreign Person 78 Section 3.9. Intentionally Omitted 78 Section 3.10. Business Purposes 78 Section 3.11. Borrower’s Principal Place of Business 79 Section 3.12. Status of Property 79 Section 3.13. Financial Information 80 Section 3.14. Condemnation 81 Section 3.15. Separate Lots 81 Section 3.16. Insurance 81 Section 3.17. Use of Property 81 Section 3.18. Leases and Rent Roll 81 Section 3.19. Filing and Recording Taxes 82 Section 3.20. Management Agreement 82 Section 3.21. Illegal Activity/Forfeiture 83 Section 3.22. Taxes 83 Section 3.23. Permitted Encumbrances 83 Section 3.24. Third Party Representations 83 Section 3.25. Non-Consolidation Opinion Assumptions 83 Section 3.26. Federal Reserve Regulations 83 Section 3.27. Investment Company Act 84 Section 3.28. Fraudulent Conveyance 84 Section 3.29. Embargoed Person 84 Section 3.30. Intentionally Omitted 85 Section 3.31. Organizational Chart 85 Section 3.32. Bank Holding Company 85 Section 3.33. Purchase Options 85 Section 3.34. Property Document Representations 85 Section 3.35. No Change in Facts or Circumstances; Disclosure 85 Section 3.36. Operating Lease Representations 86 Section 3.37. Ground Lease Representations 86 Section 3.38. Health Care Representations 87 Section 3.39. Master Lease and Sublease Representations 89 Section 3.40. Affiliates 89 ARTICLE 4. BORROWER COVENANTS 90 Section 4.1. Existence 90 Section 4.2. Legal Requirements 90 Section 4.3. Maintenance and Use of Property 91 Section 4.4. Waste 92 Section 4.5. Taxes and Other Charges 92 Section 4.6. Litigation 94 Section 4.7. Access to Property 94 Section 4.8. Notice of Default 94 Section 4.9. Cooperate in Legal Proceedings 94 Section 4.10. Performance by Borrower 94 Section 4.11. Intentionally Omitted 94 Section 4.12. Books and Records 94 Section 4.13. Estoppel Certificates 96 Section 4.14. Leases and Rents 97 Section 4.15. Management Agreement 98 Section 4.16. Payment for Labor and Materials 101 Section 4.17. Performance of Other Agreements 102 Section 4.18. Debt Cancellation 102 Section 4.19. ERISA 102 Section 4.20. No Joint Assessment 103 Section 4.21. Alterations 103 Section 4.22. Property Document Covenants 103 Section 4.23. Ground Lease Covenants 104 Section 4.24. Operating Lease Covenants 105...
REPRESENTATIONS AND WARRANTIES 76. Section 9.1. Representations and Warranties of the City 76 Section 9.2. Representations and Warranties of the Concessionaire 79 Section 9.3. Non-Waiver 80 Section 9.4. Survival 80 ARTICLE 10 FINANCE OBLIGATIONS 81 Section 10.1. Concessionaire’s Obligations 81 Section 10.2. City’s Obligations 81 Section 10.3. Concessionaire’s Obligation for Estoppel Certificates 82 Section 10.4. Prohibited Tax Shelter Transactions 82 ARTICLE 11 COMPLIANCE WITH LAWS 82 Section 11.1. Compliance with Laws 82 Section 11.2. Non-Discrimination 82 Section 11.3. Non-Collusion, Bribery of a Public Officer or Employee 84 Section 11.4. Cooperation with City Inspector General 84 Section 11.5. Ethics and Conflict of Interest Requirements 85 Section 11.6. Prevailing Wage 85 Section 11.7. Living Wage 85 Section 11.8. MBE/WBE, Affirmative Action and City Resident Requirements 85 Section 11.9. ▇▇▇▇▇▇▇▇ Principles 88 Section 11.10. Executive Order 2005-1 88 Section 11.11. Cooperation with City Office of Compliance 88 Section 11.12. City License Requirements 88 ARTICLE 12 INDEMNIFICATION 89 Section 12.1. Indemnification by the Concessionaire 89 Section 12.2. Indemnification by the City 89 Section 12.3. Agency for Representatives 89 Section 12.4. Third Party Claims 90 Section 12.5. Direct Claims 91 Section 12.6. Failure to Give Timely Notice 91 Section 12.7. Reductions and Subrogation 91 Section 12.8. Payment and Interest 91 Section 12.9. Limitation on Certain Claims 91 Section 12.10. Other Matters 92 Section 12.11. Offset Rights; Limitations on Certain Damages 92 Section 12.12. Survival 92 ARTICLE 13 INSURANCE 92 Section 13.1. Insurance Coverage Required 92 Section 13.2. Additional Requirements 94 Section 13.3. Damage and Destruction 96 ARTICLE 14 ADVERSE ACTIONS 99 Section 14.1. Adverse Action 99 Section 14.2. Termination 101 Section 14.3. Reserved Powers Adverse Actions 102 Section 14.4. Right of City to Remedy 104 Section 14.5. Other Actions by Governmental Authorities 104 ARTICLE 15 DELAY EVENTS AND CONCESSION COMPENSATION 105 Section 15.1. Delay Events 105 Section 15.2. Relationship to Compensation Event 106 Section 15.3. Payment of Concession Compensation 106
REPRESENTATIONS AND WARRANTIES 76. Section 4.01 Representations and Warranties of the Borrower 76
REPRESENTATIONS AND WARRANTIES 76. 14.1 Representations of the Parties 76 14.2 Representations of Seller 77 ARTICLE 15 EVENTS OF DEFAULT; REMEDIES 78 15.1 Events of Default 78 15.2 Remedies 80 15.3 Suspension of Performance 81 ARTICLE 16 INDEMNITY 81 16.1 Indemnification 81 16.2 Indemnity Notice 82 16.3 Defense Not Assumed 83 ARTICLE 17 LIMITATIONS ON LIABILITY 83 17.1 Consequential Damages Exclusion; Express Negligence 83 17.2 Government Fines 84 ARTICLE 18 DISPUTE RESOLUTION 84 ARTICLE 19 MISCELLANEOUS 85 19.1 Notices 85 19.2 Survival 85 19.3 Expenses 85
REPRESENTATIONS AND WARRANTIES 76. Representations and Warranties of the Borrower 76 8.2 Repetition of Representations and Warranties 88 8.3 Survival of Representations and Warranties 89 Article 9 COVENANTS 89 9.1 Reporting Covenants 89 9.2 Financial Covenant 96 9.3 Affirmative Covenants 97 9.4 Negative Covenants 106 9.5 Performance of Covenants by Agent 113 Article 10 EVENTS OF DEFAULT AND REMEDIES 114
REPRESENTATIONS AND WARRANTIES 76. 16.1 Seller’s Representations 76 16.2 Buyer’s Representations 77 17. LIMITATIONS OF LIABILITY 78 17.1 Limit of Liability 78 17.2 Consequential Damages 78 18. INDEMNITIES 78 18.1 Seller Indemnity 78 18.2 Buyer Indemnity 78 18.3 Indemnification Conditions 79 18.4 Third Party Beneficiary Conditions 79 19. GENERAL PROVISIONS 79 19.1 Electric Service to the Seller 79 19.2 Independence 79 19.3 Acknowledgement 79 19.4 Enurement 79 19.5 Entire Agreement 80 19.6 Amendment 80 19.7 No Waiver 80 19.8 Other Agreements and Notices 80 19.9 Future Agreements 80 19.10 Further Assurances 80 19.11 Severability 81
REPRESENTATIONS AND WARRANTIES 76. SECTION 6.01 Representations and Warranties of the Seller 76 SECTION 6.02 Representations and Warranties of the Servicer 84 ARTICLE VII COVENANTS 89 SECTION 7.01 Covenants of the Seller 89 SECTION 7.02 Covenants of the Servicer 100 SECTION 7.03 Separate Existence of the Seller 106 SECTION 7.04 Post-Closing Covenants 110 ARTICLE VIII ADMINISTRATION AND COLLECTION OF RECEIVABLES 110 SECTION 8.01 Appointment of the Servicer 110 SECTION 8.02 Duties of the Servicer 111 SECTION 8.03 Collection Account Arrangements 112 SECTION 8.04 Enforcement Rights 113 SECTION 8.05 Responsibilities of the Seller 115 SECTION 8.06 Servicing Fee 115
REPRESENTATIONS AND WARRANTIES 76. 16.1 Seller’s Representations 76 16.2 Buyer’s Representations 77 17. LIMITATIONS OF LIABILITY 78 17.1 Limit of Liability 78 17.2 Consequential Damages 78 18. INDEMNITIES 78 18.1 Seller Indemnity 78 18.2 Buyer Indemnity 78 18.3 Indemnification Conditions 79 18.4 Third Party Beneficiary Conditions 79 19. GENERAL PROVISIONS 79 19.1 Electric Service to the Seller 79 19.2 Independence 79 19.3 Acknowledgement 79 19.4 Enurement 79 19.5 Entire Agreement 80 19.6 Amendment 80 19.7 No Waiver 80 19.8 Other Agreements and Notices 80 19.9 Future Agreements 80 19.10 Further Assurances 80 19.11 Severability 81 19.12 Counterparts 81 APPENDIX A ADDRESSES FOR NOTICES 1 APPENDIX B SELLER’S PLANT DESCRIPTION 1 APPENDIX C TIME OF DELIVERY FACTOR TABLE 1 APPENDIX D COD CERTIFICATE 1 APPENDIX E COD TEST REQUIREMENTS .…………..……………………………………………………………………………………. 1 APPENDIX F FORM OF DEVELOPMENT REPORT …………..…………………………………………………………………………. 1 APPENDIX G FORM OF STATUTORY DECLARATION - FIRST NATIONS EQUITY OWNERSHIP .……………………. 1 APPENDIX H FORM OF LETTER FROM PROJECT FIRST NATION(S) ……..…………..……………………………………….. 1 APPENDIX I WIND DATA COLLECTION SYSTEM 1 APPENDIX J FUEL PLAN ……………………………………………………………………..…………..……………………………………….. 1 THIS ELECTRICITY PURCHASE AGREEMENT (“EPA”) is made as of , 20 [Note: Date of signing by ▇▇▇▇▇.] (the “Effective Date”) BETWEEN: ⚫, a corporation incorporated under the laws of ⚫ with its head office at ⚫ (“Seller”) AND: continued under the Hydro and Power Authority Act R.S.B.C. 1996, c. 212, with its head office at ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇ ▇▇▇
REPRESENTATIONS AND WARRANTIES 76. Borrower Representations. 76 4.1.1 Organization. 76 4.1.2 Proceedings. 76 4.1.3 No Conflicts. 76 4.1.4 Litigation. 77 4.1.5 Agreements. 77 4.1.6 Solvency. 77 4.1.7 Full and Accurate Disclosure. 78 4.1.8 No Plan Assets. 78 4.1.9 Compliance. 78 4.1.10 Financial Information. 78 4.1.11 Condemnation. 79 4.1.12 Federal Reserve Regulations. 79 4.1.13 Utilities and Public Access. 79 4.1.14 Not a Foreign Person. 79 4.1.15 Separate Lots. 79 4.1.16 Assessments. 79 4.1.17 Enforceability. 80 4.1.18 No Prior Assignment. 80