Common use of Nature of Representations and Warranties Clause in Contracts

Nature of Representations and Warranties. The representations and warranties set forth in Section 3.08 and Section 3.10 through Section 3.18, insofar as they involve conclusions of law, are made not on the basis that the Seller purports to be a legal expert or to be rendering legal advice, but rather to reflect the parties’ good faith understanding of the legal basis on which the parties are entering into this Agreement and the other Basic Documents and the basis on which the Securitized Utility Tariff Bondholders are purchasing the Securitized Utility Tariff Bonds, and to reflect the parties’ agreement that, if such understanding turns out to be incorrect or inaccurate, the Seller will be obligated to indemnify the Issuer and its permitted assigns (to the extent required by and in accordance with Section 5.01), and that the Issuer and its permitted assigns will be entitled to enforce any rights and remedies under the Basic Documents on account of such inaccuracy to the same extent as if the Seller had breached any other representations or warranties hereunder.

Nature of Representations and Warranties. The representations and warranties set forth in Section 3.08 and Section 3.10 through Section 3.18, insofar as they involve conclusions of law, are made not on the basis that the Seller purports to be a legal expert or to be rendering legal advice, but rather to reflect the parties’ good faith understanding of the legal basis on which the parties are entering into this Agreement and the other Basic Documents and the basis on which the Securitized Utility Tariff Securitization Bondholders are purchasing the Securitized Utility Tariff Securitization Bonds, and to reflect the parties’ agreement that, if such understanding turns out to be incorrect or inaccurate, the Seller will be obligated to indemnify the Issuer and its permitted assigns (to the extent required by and in accordance with Section 5.01), and that the Issuer and its permitted assigns will be entitled to enforce any rights and remedies under the Basic Documents on account of such inaccuracy to the same extent as if the Seller had breached any other representations or warranties hereunder.

Nature of Representations and Warranties. The representations and warranties set forth in this Section 3.08 and Section 3.10 through Section 3.183.08, insofar as they involve conclusions of law, are made not on the basis that the Seller purports to be a legal expert or to be rendering legal advice, but rather to reflect the parties’ ' good faith understanding of the legal basis on which the parties are entering into this Agreement and the other Basic Documents and the basis on which the Securitized Utility Tariff Bondholders Series 2003-1 Holders are purchasing the Securitized Utility Tariff Series 2003-1 Bonds, and to reflect the parties’ ' agreement that, if such understanding turns out to be incorrect or inaccurate, the Seller will be obligated to indemnify the Issuer and its permitted assigns (to the extent required by and in accordance with Section 5.01), and that the Issuer and its permitted assigns and the Indenture Trustee (for itself and for the benefit of the Series 2003-1 Holders) will be entitled to enforce any rights and remedies under the Basic Documents Documents, on account of such inaccuracy to the same extent as if the Seller had breached any other representations or warranties hereunder.

Nature of Representations and Warranties. The representations and warranties set forth in this Section 3.08 and Section 3.10 through Section 3.183.08, insofar as they involve conclusions of law, are made not on the basis that the Seller purports to be a legal expert or to be rendering legal advice, but rather to reflect the parties’ ' good faith understanding of the legal basis on which the parties are entering into this Agreement and the other Basic Documents and the basis on which the Securitized Utility Tariff Bondholders Series 2003-1 Holders are purchasing the Securitized Utility Tariff Series 2003-1 Bonds, and to reflect the parties’ ' agreement that, if such understanding turns out to be incorrect or inaccurate, the Seller will be obligated to indemnify the Issuer and its permitted assigns (to the extent required by and in accordance with Section 5.01), and that the Issuer and its permitted assigns and the Indenture Trustee (for itself and for the benefit of the Series 2003-1 Holders) will be entitled to enforce any rights and remedies under the Basic Documents Documents, on account of such inaccuracy to the same extent as if the Seller had breached any other representations or warranties hereunder.. 9 <PAGE> (i)

Nature of Representations and Warranties. The representations and warranties set forth in this Section 3.08 and Section 3.10 through Section 3.183.08, insofar as they involve conclusions of law, are made not on the basis that the Seller purports to be a legal expert or to be rendering legal advice, but rather to reflect the parties’ ' good faith understanding of the legal basis on which the parties are entering into this Agreement and the other Basic Documents and the basis on which the Securitized Utility Tariff Bondholders Series 2004-1 Holders are purchasing the Securitized Utility Tariff Series 2004-1 Bonds, and to reflect the parties’ ' agreement that, if such understanding turns out to be incorrect or inaccurate, the Seller will be obligated to indemnify the Issuer and its permitted assigns (to the extent required by and in accordance with Section 5.01), and that the Issuer and its permitted assigns and the Indenture Trustee (for itself and for the benefit of the Series 2004-1 Holders) will be entitled to enforce any rights and remedies under the Basic Documents Documents, on account of such inaccuracy to the same extent as if the Seller had breached any other representations or warranties hereunder.