Corporation Representations and Covenants Sample Clauses

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Corporation Representations and Covenants. The Corporation makes the following representations, warranties and covenants:

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Related to Corporation Representations and Covenants

• Representations and Covenants In accordance with IRS Notice 2001-82 and IRS Notice 88-129, the Interconnection Customer represents and covenants that (i) ownership of the electricity generated at the Large Generating Facility will pass to another party prior to the transmission of the electricity on the CAISO Controlled Grid, (ii) for income tax purposes, the amount of any payments and the cost of any property transferred to the Participating TO for the Participating TO's Interconnection Facilities will be capitalized by the Interconnection Customer as an intangible asset and recovered using the straight-line method over a useful life of twenty (20) years, and (iii) any portion of the Participating TO's Interconnection Facilities that is a “dual-use intertie,” within the meaning of IRS Notice 88-129, is reasonably expected to carry only a de minimis amount of electricity in the direction of the Large Generating Facility. For this purpose, “de minimis amount” means no more than 5 percent of the total power flows in both directions, calculated in accordance with the “5 percent test” set forth in IRS Notice 88- 129. This is not intended to be an exclusive list of the relevant conditions that must be met to conform to IRS requirements for non-taxable treatment. At the Participating TO’s request, the Interconnection Customer shall provide the Participating TO with a report from an independent engineer confirming its representation in clause (iii), above. The Participating TO represents and covenants that the cost of the Participating TO's Interconnection Facilities paid for by the Interconnection Customer without the possibility of refund or credit will have no net effect on the base upon which rates are determined.

• WARRANTIES, REPRESENTATIONS AND COVENANTS Mortgagor warrants, represents and covenants to Mortgagee as follows:

• SELLER’S WARRANTIES, REPRESENTATIONS AND COVENANTS As an inducement to Buyer to enter into this Agreement and to purchase the Property, Seller warrants, represents, and covenants to Buyer, as follows:

• BUYER’S WARRANTIES, REPRESENTATIONS AND COVENANTS Buyer: (i) if an entity, is a lawfully constituted entity, duly organized, validly existing, and in good standing under the laws of New Hampshire or another state; (ii) has the authority and power to enter into this Agreement and to consummate the transactions contemplated herein; and (iii) upon execution hereof will be legally obligated to Seller in accordance with the terms and provisions of this Agreement.

• Covenants Representations and Warranties The General Partner covenants, represents and warrants that the following are presently true, will be true at the time of each Capital Contribution payment made by the Limited Partner and will be true during the term of this Agreement, to the extent then applicable.

• ARTICLE UNION REPRESENTATION a) The Employer agrees to recognize a committee of five employees consisting of the President of the local, two (2) part time employees, and two (2) full time employees to negotiate amendments or renewals to this agreement, The Employer agrees to recognize elected Union stewards to assist employees in the presentation of any grievance that properly arises under the provisions of this agreement. The Union agrees to provide the Employer with lists of these stewards and any changes to this list as necessary. The Employer shall recognize up to four (4) employees plus the president of Local to act as Union representatives to the full-time and part-time Employee Relations Committee. It is understood that the committee shall meet periodically at the request of either party. Employees serving on the Employee Relations Committee or any Committee established to address issues of joint concern shall be paid at their regular rate of pay up to or hours per pay period or lieu time in excess of this (as per article a) and for time spent attending the Employee Relations Committee meetings. Part time employees will be paid at least the minimum shift at straight time Employees serving on the Union's Negotiating Committee shall be paid for lost time from his normal straight time working hours at his regular rate of pay, in direct contract negotiations, up to the point of arbitration, for renewal of this Collective Agreement. Upon reference to arbitration, the Negotiating Committee members shall receive unpaid time off with no loss of credits or benefits for the purpose of attending Arbitration Hearings. The Union shall advise the Employer, in writing, the names of its committee. The Employer shall not be obliged to recognize committee members until such time as written notice has been received. The Area Representative may attend meetings at the invitation of the local Union. A representative from may assist in negotiations.

• Survival of Representations, Warranties and Covenants The representations, warranties and covenants of the Company, Parent and Merger Sub contained in this Agreement will terminate at the Effective Time, except that any covenants that by their terms survive the Effective Time will survive the Effective Time in accordance with their respective terms.

• Continuing Nature of Representations and Warranties The representations and warranties set forth in this Section are made as of the Effective Date and deemed made continually throughout the Term. If at any time during the Term, any Party obtains actual knowledge of any event or information which causes any of the representations and warranties in this Article 7 to be materially untrue or misleading, such Party shall provide the other Party with written notice of the event or information, the representations and warranties affected, and the action, if any, which such Party intends to take to make the representations and warranties true and correct. The notice required pursuant to this Section shall be given as soon as practicable after the occurrence of each such event.

• Certain Representations and Warranties Each of the parties hereto represents and warrants to the other that, as of the date hereof; this Agreement has been duly and validly authorized by all necessary action (corporate, limited liability company or otherwise) on the part of such party, has been duly executed and delivered by such party and constitutes the valid and legally binding obligation of such party, enforceable against such party in accordance with its terms and conditions.

• Representations Warranties and Covenants The Grantors jointly and severally represent, warrant and covenant to and with the Collateral Agent, for the benefit of the Secured Parties, that: