Common use of REPRESENTATIONS AND WARRANTIES OF EXPEDIA Clause in Contracts

REPRESENTATIONS AND WARRANTIES OF EXPEDIA. Expedia hereby represents and warrants to Stockholder as follows: Expedia is a corporation duly organized and validly existing under the laws of the State of Washington. Expedia has full corporate power and authority to execute and deliver this Agreement and the Liquidation and Indemnification Agreement, to perform its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement and the Liquidation and Indemnification Agreement and the consummation by Expedia of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary corporate action on the part of Expedia, and no other proceedings on the part of Expedia are necessary to authorize this Agreement or the Liquidation and Indemnification Agreement or to consummate the transactions contemplated hereby or thereby. Each of this Agreement and the Liquidation and Indemnification Agreement has been duly and validly executed and delivered by Expedia and constitutes a valid and binding agreement of Expedia, except that enforceability may be subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium or other similar laws affecting or relating to the enforcement of creditors rights generally and to general principles of equity.