Common use of Representations of Owner Clause in Contracts

Representations of Owner. The Owner hereby represents and warrants to the Series as follows: (a) the Owner’s execution and delivery of this Agreement has been duly authorized; (b) the Owner has the right to sell to the Series the Participation Interest; (c) the Owner’s execution and delivery of this Agreement and sale of the Participation Interest hereunder do not constitute a violation by the Owner of any agreement, law, statute, decree or decision that is binding on the Owner; and (d) the Owner owns a 100% undivided interest in the Asset, and Owner has not transferred or assigned any rights, title or interest therein to any other person or entity and such rights, title, and interest are free and clear of any liens, encumbrances, claims, mortgages or other security interest. The foregoing representations and warranties shall survive the sale of the Participation Interest.