Common use of BUYER’S WARRANTIES, REPRESENTATIONS AND COVENANTS Clause in Contracts

BUYER’S WARRANTIES, REPRESENTATIONS AND COVENANTS. Buyer hereby represents and warrants to Seller that (a) Buyer is in good standing with the California Tax Franchise Board, (b) Buyer has and as of the Closing Date shall have, full power and lawful authority to enter into and carry out the terms and conditions of this Agreement and to execute and deliver all documents which are contemplated by this Agreement and Buyer’s directors and/or officers have authorized Xxxxx’s execution and performance of the transaction contemplated by this Agreement, (c) all actions necessary to confer such power and authority upon the persons executing this Agreement and all documents which are contemplated by this Agreement to be executed on behalf of Buyer or its assignee have been taken, (d) Buyer has received no written notice of any threatened or pending litigation which would materially and adversely affect Buyer's capacity to perform under this Agreement, and (e) Buyer has access to the economic resources to fund its obligations herein.