Common use of Representation and Warranties of Each Party Clause in Contracts

Representation and Warranties of Each Party. Each of WCH and IMPAX hereby represents and warrants to the other Party hereto as follows: 7.1.1 it is a corporation or entity duly organized and validly existing under the laws of the state or other jurisdiction of incorporation or formation; 7.1.2 the execution, delivery and performance of this Agreement by such Party has been duly authorized by all requisite corporate action and do not require any shareholder action or approval; 7.1.3 it has the power and authority to execute and deliver this Agreement and to perform its obligations hereunder; 7.1.4 the execution, delivery and performance by such Party of this Agreement and its compliance with the terms and provisions hereof does not and will not conflict with or result in a breach of any of the terms and provisions of or constitute a default under (i) any other contract entered into by such Party; (ii) a loan agreement, guaranty, financing agreement, agreement affecting a product or other agreement or instrument binding or affecting it or its property; (iii) the provisions of its charter or operative documents or by laws; or (iv) any order, writ, injunction or decree of any court or governmental authority entered against it or by which any of its property is bound; and 7.1.5 is in compliance with all applicable laws and regulations relating to its activities under this Agreement.