Common use of REPRESENTATIONS AND WARRANTIES OF PARENTCO Clause in Contracts

REPRESENTATIONS AND WARRANTIES OF PARENTCO. 3.1 ParentCo, by its acceptance hereof, represents and warrants to the Shareholders that the statements contained in Schedule "A" hereto are correct and complete as of the date of this Agreement and shall be correct and complete as of the Closing Date (as though made then) and acknowledges and confirms that the Shareholders are relying upon such representations and warranties in connection with the transactions contemplated herein. 3.2 Notwithstanding the representations and warranties of ParentCo contained in Section 3.1 hereof and the covenants of ParentCo contained in Section 5.1 hereof, the Shareholders represent, warrant, acknowledge and agree that ParentCo may prior to the Time of Closing raise up to U.S.$2 million in equity for working capital purposes.