CAPACITY – MISCELLANEOUS Clause Samples

CAPACITY – MISCELLANEOUS. The undersigned parties represent that they enjoy full legal capacity, and more particularly that they are neither the subject of any bans nor are they bankrupt or insolvent; GDK however represents that it is undergoing a reorganisation procedure ordered by the courts and intends to file a petition for bankruptcy in the near future at the office of the clerk of the commercial court. · The seller represents that the property is not encumbered with any pre-emption rights, purchase options or redemption rights, with the exception of those referred to in item 18 below.