Representations and As Is Sample Clauses

Representations and As Is. Where Is Provision The parties' representations stated in Sections A. and B. of Exhibit B are true and correct as of the Effective Date and must be true and correct on the Closing Date. A party who becomes aware that any of the representations of either party are not true and correct will promptly notify the other party. Unless a party notifies the other party to the contrary on or before the Closing Date, or a party has actual knowledge to the contrary as of the Closing Date, each party is entitled to presume that the representations of the other party in Exhibit B are true and correct as of the Closing Date. The parties agree to the terms of Section B(1). (As Is, Where Is) and B(2). (Mineral Reservation by Seller) in Exhibit B. The parties agree that substantially similar provisions shall be contained in the Deed to Buyer.
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