LESSEE'S REPRESENTATION AND WARRANTY. Buyer's written approval, within ten (10) days after receipt, of a document from the Lessee, executed by an authorized officer of the Lessee, containing Lessee's representation and warranty that Lessee and Seller have both performed all of their obligations and duties under the terms of the Lease; that there has been no default by either Seller or Lessee under the terms of the Lease; that Lessee has maintained the property in good condition and repair, as required under the terms of the Lease; that the Property is in compliance with all applicable codes and regulations; that Lessee has no knowledge of the existence or prior existence on the Property of any Hazardous Substance nor of the existence or prior existence of any above or below ground storage tank or tanks; that Lessee has no knowledge of any aspect or condition of the Property which violates applicable law, rules, regulations, codes or covenants, conditions or restrictions, or of improvements or alterations made to the Property without a permit where one was required, or of any unfulfilled order or directive of any applicable governmental agency or casualty insurance company that any work of investigation, remediation, repair, maintenance or improvement is to be performed on the Property; that there are no unsatisfied mechanic's or materialman's lien rights concerning the Property; and that Lessee has no knowledge of any actions, suits or proceedings pending or threatened before any commission, board, bureau, agency, instrumentality, arbitrator(s), court or tribunal that would affect the Property or the right to occupy or utilize same. Seller shall obtain and deliver to Buyer such representation and warranty from Lessee within thirty (30) days of the Date of Agreement.
LESSEE'S REPRESENTATION AND WARRANTY. The Lessee hereby represents and warrants to the Port Authority that the Lessee (i) is not a person or entity with whom the Port Authority is restricted from doing business under the regulations of the Office of Foreign Assets Control (“OFAC”) of the United States Department of the Treasury (including, without limitation, those named on OFAC’s Specially Designated and Blocked Persons list) or under any statute, executive order or other regulation relating to national security or foreign policy (including, without limitation, Executive Order 13224 of September 23, 2001, Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism), or other governmental action related to national security, the violation of which would also constitute a violation of law (such persons being referred to herein as “Blocked Persons”, and such regulations, statutes, executive orders and governmental actions being referred to herein as “Blocked Persons Laws”) and (ii) is not engaging in any dealings or transactions or is otherwise associated with Blocked Persons in violation of any Blocked Persons Laws. The Lessee acknowledges that the Port Authority is entering into this Agreement in reliance on the foregoing representations and warranties and that such representations and warranties are a material element of the consideration inducing the Port Authority to enter into and execute this Agreement.
