REPRESENTATIONS AND WARRANTIES OF CONTRIBUTOR AND OWNER. 7.1 Owner and Contributor, jointly and severally, hereby represent and warrant to SCOLP as of the date hereof, and as of the Contribution Date, the following with the understanding that each of the representations and warranties are material and have been relied on by SCOLP in connection herewith:
REPRESENTATIONS AND WARRANTIES OF CONTRIBUTOR AND OWNER. Contributor and Owner hereby represent and covenant to the Company that each of the following representations and warranties is true and correct as of the Effective Date and will be true and correct as of the Closing Date (except for those representations and warranties that are expressly made as of an earlier date) and shall survive Closing. As used in this Article 6, the phrase “to the best of Contributor’s and Owner’s knowledge” shall mean the actual knowledge of Xxxxxxx X. Xxxxxxxxxx, Xxxx X. Xxxx and Xxxxxx X. Xxxx, without the obligation to investigate or verify the same.
