Common use of Nature of Sale Clause in Contracts

Nature of Sale. Such purchase and sale shall be expressly made without representation or warranty of any kind by the First Lien Creditors as to the First Lien Obligations or otherwise and without recourse to the First Lien Creditors, except for representations and warranties as to the following: (a) the amount of the First Lien Obligations being purchased (including as to the principal of and accrued and unpaid interest on such First Lien Obligations, fees and expenses thereof), (b) that the First Lien Creditors own the First Lien Obligations free and clear of any Liens and (c) each First Lien Creditor has the full right and power to assign its First Lien Obligations and such assignment has been duly authorized by all necessary corporate action by such First Lien Creditor.

Nature of Sale. Such purchase and sale shall be expressly made without representation or warranty of any kind by the First Lien Creditors as to the First Lien Loan Obligations or otherwise and without recourse to the First Lien Creditors, except for representations and warranties as to the following: (ai) the amount of the First Lien Loan Obligations being purchased (including as to the principal of and accrued and unpaid interest on such First Lien Loan Obligations, fees and expenses thereof), (bii) that the First Lien Creditors Lenders own the First Lien Loan Obligations free and clear of any Liens Liens, and (ciii) each First Lien Creditor Lender has the full right and power to assign its First Lien Loan Obligations and such assignment has been duly authorized by all necessary corporate action by such First Lien CreditorLender.