Common use of Survival or Representations and Warranties Clause in Contracts

Survival or Representations and Warranties. Subject to section 8(b), all representations and warranties contained in this Agreement on the part of each of the parties shall survive the Closing for a period of one (1) year from the Closing Date, after which time, if no claim shall have been made against a Party with respect to any incorrectness or in breach of any representation or warranty, that Party shall have no further liability under this Agreement with respect to the representation or warranty. 7. Conditions of Closing. (a) Conditions for the Purchaser's Benefit. The Purchaser shall not be obliged to complete the purchase of the Purchased Securities unless, on the Closing Date, the Share Exchange Agreement has been executed, each of the conditions of closing set forth in subsection 10.1 of the Share Exchange Agreement (with the exception of the closing of the transaction contemplated in this Agreement) has been satisfied, and the Lynx Shares and Lynx Warrants, as those terms are defined in the Share Exchange Agreement, have been tendered to the Purchaser pursuant to the terms of the Share Exchange Agreement.