Common use of Additional Representations and Warranties of the Company Clause in Contracts

Additional Representations and Warranties of the Company. The Company represents and warrants to Parent and Merger Sub as follows: (a) The following representations and warranties shall be deemed, for all purposes of and under the Merger Agreement, to form a part of Section 4.2 of the Merger Agreement: There are issued and outstanding 96,221,857 shares of Common Stock as of the date of this Amendment No. 2. The issuance, sale and delivery of the Issued Shares in accordance with this Amendment No. 2 have been duly authorized by all necessary corporate action on the part of the Company. The Issued Shares have been duly authorized, validly issued, fully paid and nonassessable, free and clear of any Liens with the holder being entitled to all rights accorded to a holder of Common Stock under the CCC and the certificate of incorporation and bylaws of the Company. No person has any preemptive right or right of first refusal which would be triggered by reason of the issuance of the Issued Shares. (b) The following representations and warranties shall be deemed, for all purposes of and under the Merger Agreement, to form a part of Section 4.3 of the Merger Agreement: The Company has the requisite corporate power and authority to execute and deliver this Amendment No. 2, to perform its obligations and consummate the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2) other than the Merger and, subject to obtaining the affirmative vote for approval of the principal terms of the Merger and adoption of the Merger Agreement (as amended by this Amendment No. 2) and the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2), by the Company Shareholder Approval on the record date for the Company Shareholders Meeting to consider the Company Voting Proposal, to consummate the Merger. The Strategic Committee has determined that the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2) are advisable and fair to and in the best interests of the Company and its shareholders and has recommended that the full Company Board approve this Amendment No. 2 and the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2). Each of the Strategic Committee and the Company Board has determined in good faith, (x) after consultation with its outside counsel and financial advisor, that the Cerberus Proposal no longer constitutes, and could not reasonably be likely to result in, a Superior Proposal, and (y) after consultation with its outside counsel, that failure to take any of the actions described in Sections 6.4(b) or 8.1(c)(ii) of the Merger Agreement would not reasonably be expected to result in a breach of its fiduciary duties to the Company shareholders under applicable Law. The execution, delivery and performance by the Company of this Amendment No. 2 and the consummation by the Company of the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2) have been duly authorized by the Company Board (acting upon the unanimous recommendation of the Strategic Committee), and no other corporate action on the part of the Company is necessary to authorize the execution and delivery by the Company of this Amendment No. 2, except (solely with respect to the Merger) for the Company Shareholder Approval of the Company Voting Proposal. This Amendment No. 2 has been duly executed and delivered by the Company and is a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except that such enforcement may be subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar Laws, now or hereafter in effect, affecting creditors’ rights and remedies generally. (c) The following representations and warranties shall be deemed, for all purposes of and under the Merger Agreement, to form a part of Section 4.4 of the Merger Agreement: The execution and delivery of this Amendment No. 2 by the Company does not, and the performance by the Company of this Amendment No. 2 and the consummation by the Company of the transactions contemplated hereby will not, (i) violate any provision of the Organizational Documents of the Company, (ii) result in a violation or breach of, or constitute (with or without due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation or acceleration) under, any of the material terms, conditions or provisions of any Material Contract to which the Company or any of its Subsidiaries is a party or by which any of them or any of their properties or assets is bound, (iii) violate any Law applicable to the Company, any of its Subsidiaries or any of their properties or assets that could result in a material Liability to the Company or its Subsidiaries, taken as a whole, or (iv) other than in connection with or compliance with the Securities Act, require the Company or any of its Subsidiaries, as applicable, to make any filing or registration with or notification to, or require the Company or any of its Subsidiaries, as applicable to obtain any authorization, consent or approval of, any Governmental Entity. (d) The following representations and warranties shall be deemed, for all purposes of and under the Merger Agreement, to form a part of Section 4.18 of the Merger Agreement: Since September 30, 2009, there has not been any condition, event or occurrence which has had or would be reasonably expected to have a Company Material Adverse Effect.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Silicon Storage Technology Inc), Agreement and Plan of Merger (Microchip Technology Inc)

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Additional Representations and Warranties of the Company. The Company represents and warrants to Parent and Merger Sub as follows: follows (a) The following representations and warranties shall be deemed, for all purposes each of and under the Merger Agreement, to form a part of Section 4.2 of the Merger Agreement: There are issued and outstanding 96,221,857 shares of Common Stock as of the date of this Amendment No. 2. The issuance, sale and delivery of the Issued Shares in accordance with this Amendment No. 2 have been duly authorized by all necessary corporate action on the part of the Company. The Issued Shares have been duly authorized, validly issued, fully paid and nonassessable, free and clear of any Liens with the holder being entitled to all rights accorded to a holder of Common Stock under the CCC and the certificate of incorporation and bylaws of the Company. No person has any preemptive right or right of first refusal which would be triggered by reason of the issuance of the Issued Shares. (b) The following representations and warranties shall be deemed, for all purposes of and under the Merger Agreement, to form a part of Section 4.3 of the Merger Agreement: ): The Company has the requisite corporate power and authority to execute and deliver this Amendment No. 2, to perform its obligations and consummate the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2) other than the Merger and, subject to obtaining the affirmative vote for approval of the principal terms of the Merger and adoption of the Merger Agreement (as amended by this Amendment No. 2Amendment) and the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2Amendment), by the Company Shareholder Approval on the record date for the Company Shareholders Meeting to consider the Company Voting Proposal, to perform its obligations and consummate the Mergertransactions contemplated by the Agreement (as amended by this Amendment). The Strategic Committee has determined that the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2Amendment) are advisable and fair to and in the best interests of the Company and its shareholders and has recommended that the full Company Board approve this Amendment No. 2 and the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2Amendment). Each of the Strategic Committee and the Company Board has determined in good faith, (x) after consultation with its outside counsel and financial advisor, that the Cerberus Proposal no longer constitutes, and could not reasonably be likely to result in, a Superior Proposal, and (y) after consultation with its outside counsel, that failure to take any of the actions described in Sections 6.4(b) or 8.1(c)(ii) of the Merger Agreement would not reasonably be expected to result in a breach of its fiduciary duties to the Company shareholders under applicable Law. The execution, delivery and performance by the Company of this Amendment No. 2 and the consummation by the Company of the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2Amendment) have been duly authorized by the Company Board (acting upon the unanimous recommendation of the Strategic Committee), and no other corporate action on the part of the Company is necessary to authorize the execution and delivery by the Company of this Amendment No. 2Amendment, except (solely with respect to the Merger) for the Company Shareholder Approval of the Company Voting Proposal. This Amendment No. 2 has been duly executed and delivered by the Company and is a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except that such enforcement may be subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar Laws, now or hereafter in effect, affecting creditors’ rights and remedies generally. (c) The following representations and warranties shall be deemed, for all purposes of and under the Merger Agreement, to form a part of Section 4.4 of the Merger Agreement: The execution and delivery of this Amendment No. 2 by the Company does not, and the performance by the Company of this Amendment No. 2 and the consummation by the Company of the transactions contemplated hereby will not, (i) violate any provision of the Organizational Documents of the Company, (ii) result in a violation or breach of, or constitute (with or without due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation or acceleration) under, any of the material terms, conditions or provisions of any Material Contract to which the Company or any of its Subsidiaries is a party or by which any of them or any of their properties or assets is bound, (iii) violate any Law applicable to the Company, any of its Subsidiaries or any of their properties or assets that could result in a material Liability to the Company or its Subsidiaries, taken as a whole, or (iv) other than in connection with or compliance with the Securities Act, require the Company or any of its Subsidiaries, as applicable, to make any filing or registration with or notification to, or require the Company or any of its Subsidiaries, as applicable to obtain any authorization, consent or approval of, any Governmental Entity. (d) The following representations and warranties shall be deemed, for all purposes of and under the Merger Agreement, to form a part of Section 4.18 of the Merger Agreement: Since September 30, 2009, there has not been any condition, event or occurrence which has had or would be reasonably expected to have a Company Material Adverse Effect.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Microchip Technology Inc), Agreement and Plan of Merger (Silicon Storage Technology Inc)

Additional Representations and Warranties of the Company. The Company represents and warrants to Parent and Merger Sub as followsyou that: (a) The following representations Company is a corporation duly organized, validly existing and warranties shall be deemed, for all purposes of and in good standing under the Merger Agreement, to form a part of Section 4.2 laws of the Merger Agreement: There are issued jurisdiction of its incorporation and outstanding 96,221,857 shares is duly qualified to transact business and is in good standing in each jurisdiction in which the conduct of Common Stock as its business or the ownership or leasing of property requires such qualification, except to the extent that the failure to be so qualified or to be in good standing, considering all such cases in the aggregate, would not have a material adverse effect on the business, properties, financial position or results of operations of the date Company and all of this Amendment No. 2. The issuanceits subsidiaries and affiliates taken as a whole, sale and delivery of as the Issued Shares in accordance with this Amendment No. 2 have been duly authorized by all necessary corporate action on the part of the Company. The Issued Shares have been duly authorized, validly issued, fully paid and nonassessable, free and clear of any Liens with the holder being entitled to all rights accorded to a holder of Common Stock under the CCC and the certificate of incorporation and bylaws of the Company. No person has any preemptive right or right of first refusal which would be triggered by reason of the issuance of the Issued Sharescase may be. (b) The following representations and warranties shall be deemed, for all purposes of and under the Merger Agreement, to form a part of Section 4.3 of the Merger Agreement: The Company has the requisite full corporate power and authority to execute take and deliver this Amendment No. 2, has duly taken all necessary corporate action to perform its obligations and consummate authorize (i) the transactions contemplated by the Merger Agreement Offer (as amended by this Amendment No. 2) other than the Merger and, subject to obtaining the affirmative vote for approval of the principal terms of the Merger and adoption of the Merger Agreement (as amended by this Amendment No. 2) and the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2), including any related borrowings by the Company Shareholder Approval on or any of its subsidiaries or affiliates), (ii) the record date for purchase by the Company Shareholders Meeting of Warrants pursuant to consider the Company Voting Proposal, to consummate the Merger. The Strategic Committee has determined that the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2) are advisable and fair to and in the best interests of the Company and its shareholders and has recommended that the full Company Board approve this Amendment No. 2 and the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2). Each of the Strategic Committee and the Company Board has determined in good faith, (x) after consultation with its outside counsel and financial advisor, that the Cerberus Proposal no longer constitutes, and could not reasonably be likely to result in, a Superior Proposal, Offer and (yiii) after consultation with its outside counsel, that failure to take any of the actions described in Sections 6.4(b) or 8.1(c)(ii) of the Merger Agreement would not reasonably be expected to result in a breach of its fiduciary duties to the Company shareholders under applicable Law. The execution, delivery and performance by the Company of this Amendment No. 2 and the consummation by the Company of the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2) have been duly authorized by the Company Board (acting upon the unanimous recommendation of the Strategic Committee)Agreement, and no other corporate action on the part of the Company is necessary to authorize the execution and delivery by the Company of this Amendment No. 2, except (solely with respect to the Merger) for the Company Shareholder Approval of the Company Voting Proposal. This Amendment No. 2 Agreement has been duly executed and delivered by on behalf of the Company and, assuming due authorization, execution and delivery of this Agreement by you, is a legal, valid and binding obligation of the Company enforceable against the Company it in accordance with its terms, except that such enforcement (a) the enforceability hereof may be subject to applicable limited by (x) bankruptcy, insolvency, reorganization, moratorium or and other similar Laws, laws now or hereafter in effect, affecting effect relating to creditors' rights generally and remedies generally(y) general principles of equity and (b) indemnification and contribution provisions contained herein may not be enforceable. (c) The following representations Company has duly filed, or will have duly filed the Schedule as required by and warranties shall pursuant to the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Commission thereunder (collectively, the "Exchange Act"), copies of which (including the documents filed or to be deemedfiled therewith as exhibits thereto) in the form filed or to be filed, for have been or will be promptly furnished to you. The Schedule complies, and all purposes forms of and under all such other Offer Material to be filed with the Merger Agreement, Commission or published or distributed to form a part of Section 4.4 holders of the Merger Agreement: Warrants will comply, in all material respects, with the applicable provisions of the Exchange Act, and neither the Schedule nor any of such other Offer Material contains or will contain any untrue statement of a material fact or omits or will omit to state a material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances under which they are made, not misleading; provided, however, that no representation is made with respect to any statements contained in, or any matter omitted from, the Schedule or any other Offer Material in reliance upon and in conformity with information furnished or confirmed in writing by you to the Company expressly for use therein. d) The execution Company will file, as required, any and delivery all necessary amendments or supplements to the Schedule and the other documents filed with the Commission relating to the Offer and will promptly furnish to you true and complete copies of this Amendment No. 2 each such amendment and supplement upon the filing thereof. e) The Offer (including any related borrowings by the Company does notor any of its subsidiaries or affiliates), and the performance purchase by the Company of this Amendment No. 2 Warrants pursuant to the Offer, and the execution, delivery and performance of this Agreement by the Company, comply and will comply in all material respects with all applicable requirements of federal, state, local and foreign law, including, without limitation, any applicable regulations of the Commission and Other Agencies, and all applicable judgments, orders or decrees; and no consent, authorization, approval, order, exemption, registration, qualification or other action of, or filing with or notice to, the Commission or any Other Agency is required in connection with the execution, delivery and performance of this Agreement by the Company, the making or consummation by the Company of the Offer or the consummation of the other transactions contemplated hereby by this Agreement, except where the failure to obtain or make such consent, authorization, approval, order, exemption, registration, qualification or other action or filing or notification would not materially adversely affect the ability of the Company to execute, deliver and perform this Agreement or to commence and consummate the Offer in accordance with its terms. All such required consents, authorizations, approvals, orders, exemptions, registrations, qualifications and other actions of and filings with and notices to the Commission and the Other Agencies will nothave been obtained, taken or made, as the case may be, and all statutory or regulatory waiting periods will have elapsed, prior to the purchase of the Warrants pursuant to the Offer. f) The Offer (including any related borrowings by the Company or any of its subsidiaries or affiliates), the purchase of the Warrants by the Company pursuant to the Offer, and the execution, delivery and performance of this Agreement by the Company, do not and will not (i) violate conflict with or result in a violation of any provision of the Organizational Documents provisions of the certificate of incorporation or by-laws (or similar organizational documents) of the Company, (ii) conflict with or violate in any material respect any law, rule, regulation, order, judgment or decree applicable to the Company or by which any property or asset of the Company or any of its subsidiaries is or may be bound or (iii) result in a violation breach of any of the material terms or breach provisions of, or constitute a default (with or without due notice or and/or lapse of time or both) a default (or give rise to any right of termination, cancellation or accelerationtime) under, any of the loan or credit agreement, indenture, mortgage, note or other material terms, conditions agreement or provisions of any Material Contract instrument to which the Company or any of its Subsidiaries subsidiaries is a party or by which any of them or any of their respective properties or assets is or may be bound, except that clauses (ii) and (iii) violate any Law applicable do not apply to conflicts or violations which would not have a material adverse effect on the Company. g) No stop order, restraining order or denial of an application for approval has been issued and no investigation, proceeding or litigation has been commenced or, to the best of the Company=s knowledge, any of its Subsidiaries threatened before the Commission or any of their properties or assets that could result in a material Liability Other Agency with respect to the Company making or its Subsidiaries, taken as a whole, consummation of the Offer (including the obtaining or (ivuse of funds to purchase Warrants pursuant thereto) or the consummation of the other than in connection transactions contemplated by this Agreement or with or compliance with respect to the Securities Act, require ownership of the Warrants by the Company or any of its Subsidiariessubsidiaries or affiliates. h) The Company is not, nor will it be as a result of the purchase by the Company of Warrants that it may become obligated to purchase pursuant to the terms of the Offer, an "investment company" under the Investment Company Act of 1940, as applicableamended, to make any filing or registration with or notification to, or require and the Company or any of its Subsidiaries, as applicable to obtain any authorization, consent or approval of, any Governmental Entityrules and regulations promulgated by the Commission thereunder. (di) The following Each of the representations and warranties shall set forth in this Agreement will be deemed, for all purposes of true and under the Merger Agreement, to form a part of Section 4.18 correct on and as of the Merger Agreement: Since September 30, 2009, there has not been date on which the Offer is commenced and on and as of the date on which any condition, event or occurrence which has had or would be reasonably expected Warrants are purchased pursuant to have a Company Material Adverse Effectthe Offer.

Appears in 1 contract

Samples: Dealer Manager Agreement (Audiovox Corp)

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Additional Representations and Warranties of the Company. The Company hereby represents and warrants to Parent and Merger Sub as follows: (a) The following representations Company has all requisite corporate power and warranties shall be deemed, for all purposes of authority to enter into this Amendment and under to perform its obligations hereunder. The execution and delivery by the Merger Agreement, to form a part of Section 4.2 of the Merger Agreement: There are issued and outstanding 96,221,857 shares of Common Stock as of the date Company of this Amendment No. 2. The issuance, sale and delivery its performance of the Issued Shares in accordance with this Amendment No. 2 its obligations hereunder have been duly authorized by all necessary corporate action on the part of the Company. The Issued Shares have This Amendment has been duly authorizedand validly executed and delivered by the Company and, validly issuedassuming this Amendment constitutes the valid and binding agreement of Parent and Merger Sub, fully paid constitutes the valid and nonassessable, free and clear of any Liens with the holder being entitled to all rights accorded to a holder of Common Stock under the CCC and the certificate of incorporation and bylaws binding agreement of the Company. No person has any preemptive right or right of first refusal which would be triggered by reason of , enforceable against the issuance of Company in accordance with its terms, subject to the Issued SharesBankruptcy and Equity Exception. (b) The following representations and warranties shall be deemed, for all purposes Board of and under the Merger Agreement, to form a part of Section 4.3 Directors of the Merger Agreement: The Company at a duly held meeting in a unanimous vote of those directors present (which directors constituted a quorum) has the requisite corporate power and authority to execute and deliver this Amendment No. 2, to perform its obligations and consummate the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2i) other than the Merger and, subject to obtaining the affirmative vote for approval of the principal terms of the Merger and adoption of the Merger Agreement (as amended by this Amendment No. 2) and the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2), by the Company Shareholder Approval on the record date for the Company Shareholders Meeting to consider the Company Voting Proposal, to consummate the Merger. The Strategic Committee has determined that the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2) are advisable and fair to and it is in the best interests of the Company and its shareholders stockholders, and has recommended that declared it advisable, to enter into this Amendment, (ii) approved (x) the full Company Board approve execution, delivery and performance of this Amendment No. 2 and the consummation of the transactions contemplated by the Merger Agreement, as amended by this Amendment, and (y) the acquisition of beneficial ownership of Shares that may be deemed to occur by virtue of the Equity Commitment Letters (pursuant to the terms thereof as of the date hereof) and/or the Specified Guarantor Agreement, including for purposes of the Takeover Statutes, and (iii) resolved to recommend that the stockholders of the Company approve the adoption of the Merger Agreement, as amended by this Amendment, and directed that such matter be submitted for a vote of the stockholders of the Company at the Company Meeting, (iv) assuming that the representations of Parent and Merger Sub set forth in Section 4.13 of the Merger Agreement and the representations of Parent and Merger Sub with respect to Section 4.13 of the Merger Agreement set forth in Section 3.2(d) of this Amendment are correct, taken all necessary actions so that the restrictions in Takeover Statutes are not applicable to the Company, Parent, Merger Sub or their Affiliates or the Guarantors (including Xxxxxxx) or their Subsidiaries, or the Merger Agreement (as amended by this Amendment No. 2Amendment) or the transactions contemplated thereby (including the Merger). Each of the Strategic Committee and the Company Board has determined in good faith, (x) after consultation with its outside counsel and financial advisor, that the Cerberus Proposal no longer constitutes, and could not reasonably be likely to result in, a Superior Proposal, and (yv) after consultation with its outside counselexempted Parent, that failure to take Merger Sub, the Guarantors (including Xxxxxxx) or any of their Affiliates or Associates (each as defined in the actions described in Sections 6.4(bRights Plan) or 8.1(c)(ii) from being an “Acquiring Person” under the Rights Plan as a result of entry into the Merger Agreement would not reasonably be expected to result in a breach of its fiduciary duties to Agreement, this Amendment, the Company shareholders under applicable Law. The executionEquity Commitment Letters, delivery the Limited Guarantees, the Xxxxxxx Equity Commitment Letter, the Xxxxxxx Limited Guarantee and performance by the Company of this Amendment No. 2 Specified Guarantor Agreement, and the consummation by the Company of any of the transactions contemplated by the Merger Agreement (as amended by this Amendment No. 2) have been duly authorized by the Company Board (acting upon the unanimous recommendation of the Strategic CommitteeAmendment), the Equity Commitment Letters, the Limited Guarantees, the Xxxxxxx Equity Commitment Letter, the Xxxxxxx Limited Guarantee and no other corporate action the Specified Guarantor Agreement, on the part of the Company is necessary to authorize the execution terms set forth herein and delivery by the Company of this Amendment No. 2, except (solely with respect to the Merger) for the Company Shareholder Approval of the Company Voting Proposal. This Amendment No. 2 has been duly executed and delivered by the Company and is a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except that such enforcement may be subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar Laws, now or hereafter in effect, affecting creditors’ rights and remedies generallytherein. (c) The following representations and warranties shall be deemed, for all purposes of and under the Merger Agreement, to form a part of Section 4.4 of the Merger Agreement: The execution and delivery of this Amendment No. 2 by the Company does not, and the performance by the Company of this Amendment No. 2 and the consummation by the Company of the transactions contemplated hereby will not, (i) violate any provision of the Organizational Documents of the Company, (ii) result in a violation or breach of, or constitute (with or without due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation or acceleration) under, any of the material terms, conditions or provisions of any Material Contract to which the Company or any of its Subsidiaries is a party or by which any of them or any of their properties or assets is bound, (iii) violate any Law applicable to the Company, any of its Subsidiaries or any of their properties or assets that could result in a material Liability to the Company or its Subsidiaries, taken as a whole, or (iv) other than in connection with or compliance with the Securities Act, require the Company or any of its Subsidiaries, as applicable, to make any filing or registration with or notification to, or require the Company or any of its Subsidiaries, as applicable to obtain any authorization, consent or approval of, any Governmental Entity. (d) The following representations and warranties shall be deemed, for all purposes of and under the Merger Agreement, to form a part of Section 4.18 of the Merger Agreement: Since September 30, 2009, there has not been any condition, event or occurrence which has had or would be reasonably expected to have a Company Material Adverse Effect.

Appears in 1 contract

Samples: Agreement and Plan of Merger (BMC Software Inc)

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