FOUNDERS WARRANTIES Clause Samples
FOUNDERS WARRANTIES. In consideration of CDH entering into this Agreement, each of the Founders represents and warrants to CDH that on the date hereof and as of the Closing Date:-
(a) Schedule 8: Each of the statements set out in Schedule 8 is true and accurate.
FOUNDERS WARRANTIES. 5.1 Each of the Founders hereby jointly and severally warrants, represents and undertakes to the Investors and the Company that:
(a) all written statements he/she made on behalf of the Company in relation to the Group in the replies to due diligence enquiries are true and accurate in all material respects and not misleading;
(b) so long as they or their vehicles (i.e. any entities of which over 50% of the shareholding are owned or controlled by the Founders) are shareholders of the Company, they will continue to devote themselves, as creator and founder of the business of the Company, diligently to the business and interests of the Group and personally attend at all reasonable times during usual business hours for the proper and efficient operation of the Group;
(c) to the extent within their powers and authority, they shall procure that the Company will use the proceeds from the sale of the Subscription Shares for (i) general working capital; and (ii) other general corporate purposes for the Group Companies; and
(d) the Company shall not conduct any further fund raising exercise after the completion of the subscription of the Subscription Shares as contemplated by this Agreement and before the submission of A1 Application (as defined in the Shareholders’ Agreement).