Common use of Representations and Warranties of Lakes Clause in Contracts

Representations and Warranties of Lakes. The Lakes hereby represents and warrants as follows: (a) This Management Agreement and all other agreements contemplated hereby have been duly authorized, executed and delivered by Lakes and, when approved by necessary Governmental Authorities as set forth (where applicable), will constitute a valid and binding obligation, enforceable against Lakes in accordance with its terms. (b) The execution and delivery of this Management Agreement and all other agreements contemplated hereby, the performance by Lakes of its obligations hereunder or thereunder and the consummation by Lakes of the transactions contemplated hereby will not violate any contract or agreement to which Lakes or any of its affiliated companies is a party or any law, regulation, rule or ordinance or any order, judgment or decree of any federal, state, tribal or local court or require any regulatory approval beyond those contemplated herein. (c) Lakes has the full legal right, power and authority and has taken all action necessary to enter into this Management Agreement, to perform its obligations hereunder, and to consummate all other transactions contemplated by this Management Agreement.