Common use of Representations and Warranties of Both Participants Clause in Contracts

Representations and Warranties of Both Participants. As of the Effective Date, each Participant represents and warrants to the other that: (a) it is a corporation duly incorporated and in good standing in its state of incorporation and is qualified to do business and is in good standing in those states where necessary in order to carry out the purposes of this Agreement; (b) it has the capacity to enter into and perform this Agreement and all transactions contemplated herein and that all corporate, board of directors, shareholder, surface and mineral rights owner, lessor, lessee, regulatory and other approvals and actions required to authorize it to enter into and perform this Agreement have been properly taken or obtained; (c) it will not breach any other agreement or arrangement by entering into or performing this Agreement; (d) it is not subject to any governmental order, judgment, decree, debarment, sanction or Laws that would preclude the permitting or implementation of the Operations under this Agreement; (e) this Agreement has been duly executed and delivered by it and is valid and binding upon it in accordance with its terms; and (f) it has no knowledge of any pending or threatened actions, suits, claims or other proceedings affecting the Assets.

Representations and Warranties of Both Participants. As of the Effective Date, each Participant warrants and represents and warrants to the other that: (a) it is a corporation duly incorporated organized and in good standing in its state or province of incorporation and is it shall become qualified to do business and is shall be in good standing in those states where necessary in order to carry out the purposes of this AgreementAgreement within thirty (30) calendar days following the Effective Date; (b) it has the capacity to enter into and perform this Agreement and all transactions contemplated herein and that all corporate, board of directors, shareholder, surface and mineral rights owner, lessor, lessee, regulatory lessee and other approvals and actions required to authorize it to enter into and perform this Agreement have been properly taken or obtainedtaken; (c) it will not breach any other agreement or arrangement by entering into or performing this Agreement; (d) it is not subject to any governmental order, judgment, decree, debarment, sanction or Laws that would preclude the permitting or implementation of the Operations under this Agreement;; and (e) this Agreement has been duly executed and delivered by it and is valid and binding upon it in accordance with its terms; and (f) it has no knowledge of any pending or threatened actions, suits, claims or other proceedings affecting the Assets.