Common use of Lessor’s Representations Clause in Contracts

Lessor’s Representations. As an exception to the foregoing, LESSOR represents, warrants and covenants as follows: (1) LESSOR has the lawful right to lease the Aircraft to LESSEE in accordance with the terms of this Lease; (2) LESSOR is a corporation duly organized and existing in good standing under the laws of Delaware and has the corporate power and authority to carry on its business as presently conducted and to execute, deliver and perform its obligations under this Lease and all other Lease Documents to which LESSOR is a party; (3) This Lease and all other Lease Documents to which LESSOR is a party have been duly authorized by all necessary corporate action on the part of LESSOR, do not require any approval of the stockholder of LESSOR (or if such approval is required, such approval has been obtained), and neither the execution and delivery hereof nor the consummation of the transactions contemplated hereby nor compliance by LESSOR with any of the terms and provisions hereof will contravene any Law applicable to LESSOR or result in any breach of, or constitute any default under, or result in the creation of any Lien other than to the Mortgagee upon any property of LESSOR under, any indenture, mortgage, chattel mortgage, deed of trust, conditional sales contract, bank loan or credit agreement, corporate charter or by-law, or other agreement or instrument to which LESSOR is a party or by which LESSOR or its properties or assets may be bound or affected; (4) This Lease and all other Lease Documents to which LESSOR is a party have been duly entered into and delivered by LESSOR and constitute the valid, legal and binding obligations of LESSOR, enforceable in accordance with their terms, except as such enforceability may be limited by bankruptcy, moratorium, reorganization and similar Laws and by general principles of equity, whether considered in a proceeding at Law or in equity; and (5) LESSOR has good title to the Aircraft. THE REPRESENTATIONS, WARRANTIES AND COVENANTS SET FORTH IN THIS SECTION 6(B) CONSTITUTE THE SOLE EXCEPTION TO SUBSECTION 6(A) AND ARE EXCLUSIVE AND IN LIEU OF ALL OTHER REPRESENTATIONS AND WARRANTIES OF LESSOR EXPRESS OR IMPLIED.

Lessor’s Representations. As an exception Lessor hereby represents and warrants to the foregoing, LESSOR represents, warrants and covenants as followsLessee that: (1) LESSOR Lessor has no actual knowledge of any existing physical conditions of the lawful right to lease Leased Premises which would prevent, significantly restrict or make more expensive Lessee’s development of the Aircraft to LESSEE Leased Premises for the purposes specified in accordance this Lease, or which could, with the terms passage of this Lease;time, or the giving of notice, constitute a violation of any currently applicable governmental law, ordinance, order, rule or regulation. (2) LESSOR is a corporation duly organized and existing in good standing under the laws The execution of Delaware and has the corporate power and authority to carry on its business as presently conducted and to execute, deliver and perform its obligations under this Lease and all other Lease Documents to which LESSOR is will not constitute a party; (3) This Lease and all other Lease Documents to which LESSOR is violation of nor be in conflict with nor constitute a party have been duly authorized by all necessary corporate action on the part of LESSOR, do not require default under any approval of the stockholder of LESSOR (term or if such approval is required, such approval has been obtained), and neither the execution and delivery hereof nor the consummation of the transactions contemplated hereby nor compliance by LESSOR with any of the terms and provisions hereof will contravene any Law applicable to LESSOR or result in any breach of, or constitute any default under, or result in the creation provision of any Lien other than to the Mortgagee upon any property of LESSOR under, any indenture, mortgage, chattel mortgage, deed of trust, conditional sales contract, bank loan or credit agreement, corporate charter or by-law, or other agreement or instrument to which LESSOR Lessor is a party or by which LESSOR the Leased Premises or its properties any part thereof is bound. (3) Without having made any specific investigation thereof, and without undertaking to do so, Lessor has no actual knowledge of any law, regulation, ordinance or assets may be bound order of any local, state or affected;federal governmental authority which would prohibit or significantly restrict Lessee’s development of the Leased Premises pursuant to this Lease. To the best of Lessor’s knowledge, the Leased Premises is currently in material compliance with all governmental laws, ordinances, orders, rules and regulations applicable to the Leased Premises. (4) This Lease and all other Lease Documents to which LESSOR is a party have been duly entered into and delivered by LESSOR and constitute To the validbest of Lessor's knowledge, legal and binding obligations of LESSOR, enforceable in accordance with their termsneither the Leased Premises nor any part thereof violates any Environmental Law. Without limiting the foregoing, except as such enforceability may be limited by bankruptcydisclosed in writing to Lessee, moratorium, reorganization and similar Laws and by general principles of equity, whether considered in a proceeding at Law or in equity; and (5) LESSOR has good title to the Aircraftbest of Lessor’s knowledge no Hazardous Materials have been disposed of on the Leased Premises or have been accumulated or burned on the Leased Premises, no part of the Leased Premises or any improvements thereon contain asbestos or asbestos-containing materials (including, without limitation, acoustical plaster, fireproofing, pipe and boiler insulation or similar materials), and no underground storage tanks are located on or under the Leased Premises. THE REPRESENTATIONS“Environmental Law” means all laws of any governmental authority having jurisdiction over the Leased Premises addressing pollution or protection of the environment and all amendments to such laws and all regulations implementing any of the foregoing. “Hazardous Material” shall mean any pollutant, WARRANTIES AND COVENANTS SET FORTH IN THIS SECTION 6(Bcontaminant, hazardous substance, hazardous waste, medical waste, special waste, toxic substance, petroleum-derived substance, waste or additive, asbestos, polychlorinated biphenyl (PCB), radioactive material, or other compound, element or substance in any form (including products) CONSTITUTE THE SOLE EXCEPTION TO SUBSECTION 6(A) AND ARE EXCLUSIVE AND IN LIEU OF ALL OTHER REPRESENTATIONS AND WARRANTIES OF LESSOR EXPRESS OR IMPLIEDregulated or restricted by or under any Environmental Law.