Common use of Guarantees, Warranties and Discounts Clause in Contracts

Guarantees, Warranties and Discounts. (i) The Company is not party to or bound by any agreement of guarantee, indemnification, assumption or endorsement or any other like commitment of the obligations, liabilities (whether accrued, absolute, contingent or otherwise) or Indebtedness of any Person. (ii) The Company has not given any guarantee or warranty in respect of any of the goods and services provided by it, except warranties made in the Ordinary Course of Business. (iii) In each of the two (2) years prior to the date hereof, no claims have been made against the Company or the Business for breach of warranty or contract or negligence or for a price adjustment or other concession in respect of any failure to perform services or work. (iv) There are no letters of credit, bonds or other financial security arrangements currently in place in connection with any transactions with its suppliers or customers, nor does the Company provide letters of credit, bonds or other financial security arrangements in the normal course of business.