Common use of Representations Warranties and Covenants of the Parties Clause in Contracts

Representations Warranties and Covenants of the Parties. Each Party hereby represents and warrants to the other Parties as follows as of the Effective Date: (a) Such Party is not a party to any contract or agreement of any kind whatsoever, written or verbal, which would materially impair its ability to comply with the terms of this Option Agreement. (b) The Party is a duly formed legal entity, validly existing under the laws of the state of its formation, is qualified to do business in the state of New Hampshire, and has all requisite power and authority to enter into this Option Agreement and to render the performance contemplated hereby. (c) This Option Agreement is the valid and binding obligation of the Party, enforceable in accordance with its terms.