Common use of Representations and Warranties of Assignor and Assignee Clause in Contracts

Representations and Warranties of Assignor and Assignee. Each of Assignor and Assignee hereby represents and warrants that: a. Assignee’s intended use of the Premises is not inconsistent with the use permitted under the Lease, as amended by the First Amendment. b. Assignee is a Delaware limited liability company in good standing. c. Assignee has a good reputation in the business community in which it has conducted its businesses and its business reputation and business credit history is consistent with other business conducted on the Premises. d. Assignee’s intended use of the Premises will not increase the hazardous substance liability to the Premises and will not otherwise adversely affect the County’s interest in the Premises. e. Assignee is capable of operating an aviation business as contemplated by the terms of the Lease, as amended by the First Amendment, and has business experience and management ability that is equal to or greater than that of the Assignor. f. The Assignment will not result in a reduction in Ground Rent paid under the Lease. g. Assignor and Assignee have the legal right and authority to enter into this Consent and each has received all necessary approvals to do so.

Appears in 1 contract

Samples: Consent to Assignment of Lease

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Representations and Warranties of Assignor and Assignee. Each of Assignor and Assignee hereby represents represent and warrants warrant that: a. Assignee’s intended use of the Premises is the same as the Assignor’s intended use of the Premises and is not inconsistent with the use permitted under the Lease, as amended by Lease and will not require alteration of the First AmendmentPremises. b. Assignee is a Delaware limited liability company in good standing. c. Assignee has a good reputation in the business community in which it has conducted its businesses and its business reputation and business credit history is consistent with other business conducted on the Premises. d. c. Assignee’s intended use of the Premises will not increase the hazardous substance liability to the Premises and will not otherwise adversely affect the CountyLessor’s interest in the Premises. e. d. Assignee is capable of operating an aviation business as contemplated by the terms of the Lease, as amended by the First Amendment, Lease and has business experience and management ability that is equal to or greater than that of the Assignor. f. The Assignment will not result in a reduction in Ground Rent paid e. Assignee’s financial condition is sufficient to support the obligations of Lessee under the Lease and any encumbrances secured by the Lease. g. f. Assignor and Assignee have the legal right and authority to enter into this Consent Agreement and each has received all necessary approvals to do so.

Appears in 1 contract

Samples: Consent to Assignment of Lease

Representations and Warranties of Assignor and Assignee. Each of Assignor and Assignee hereby represents and warrants that: a. Assignee’s intended use of the Premises is the same as the Assignor’s intended use of the Premises and is not inconsistent with the use permitted under the Lease, as amended by the First Amendment. b. Assignee is a Delaware California limited liability company in good standing. c. Assignee has a good reputation in the business community in which it has conducted its businesses and its business reputation and business credit history is consistent with other business conducted on the Premises. d. Assignee’s intended use of the Premises will not increase the hazardous substance liability to the Premises and will not otherwise adversely affect the County’s interest in the Premises. e. Assignee is capable of operating an aviation a commercial business as contemplated by the terms of the Lease, as amended by the First Amendment, Lease and has business experience and management ability that is equal to or greater than that of the Assignor. f. The Assignment will not result in a reduction in Ground Rent paid under the Lease. g. Assignor and Assignee have the legal right and authority to enter into this Consent Agreement and each has received all necessary approvals to do so.

Appears in 1 contract

Samples: Consent to Assignment of Lease

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Representations and Warranties of Assignor and Assignee. Each of Assignor and Assignee hereby represents represent and warrants warrant that: a. Assignee’s intended use of the Premises is the same as the Assignor’s intended use of the Premises and is not inconsistent with the use permitted under the Lease, as amended by Lease and will not require alteration of the First AmendmentPremises. b. Assignee is a Delaware limited liability company in good standing. c. Assignee has a good reputation in the business community in which it has conducted its businesses and its business reputation and business credit history is consistent with other business conducted on the Premises. d. c. Assignee’s intended use of the Premises will not increase the hazardous substance liability to the Premises and will not otherwise adversely affect the CountyLessor’s interest in the Premises. e. d. Assignee is capable of operating an aviation a commercial business as contemplated by the terms of the Lease, as amended by the First Amendment, Lease and has business experience and management ability that is equal to or greater than that of the Assignor. f. The Assignment will not result in a reduction in Ground Rent paid e. Assignee’s financial condition is sufficient to support the obligations of Lessee under the Lease and any encumbrances secured by the Lease. g. f. Assignor and Assignee have the legal right and authority to enter into this Consent Agreement and each has received all necessary approvals to do so.

Appears in 1 contract

Samples: Lease Assignment and Assumption and Consent to Assignment of Lease

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