Representations and Warranties of Power Purchaser. The Power Purchaser hereby represents and warrants that:
(a) It is duly incorporated under the laws of Pakistan, and has, so far as it is material to the Company, complied fully with all applicable Laws of Pakistan.
(b) The Power Purchaser has full corporate power and authority to execute and deliver this Agreement, and to own its properties and to execute, to deliver and to perform its obligations under this Agreement. Execution, delivery and performance of this Agreement by the Power Purchaser, (i) has been duly authorized by all requisite corporate action on the part of the Power Purchaser, and no other proceedings on the part of the Power Purchaser or any other Person are necessary for such authorization, and (ii) will not (A) violate (1) the Laws of Pakistan or any applicable order of any Public Sector Entity or (2) any provision of any incorporating law or document, or (B) violate, be in conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any indenture, agreement for borrowed money, bond, note, instrument or other agreement to which the Power Purchaser is a Party or by which the Power Purchaser or its property is bound, excluding defaults or violations that would not, individually or in the aggregate, have a material adverse effect on the business, properties, financial condition or results of operation of the Power Purchaser or on its ability to perform its obligations hereunder.
(c) Assuming it constitutes a legal, valid and binding obligation of the Company, this Agreement constitutes a legal, valid and binding obligation of the Power Purchaser, enforceable against it in accordance with its terms, subject to (i) bankruptcy, insolvency, reorganization, moratorium, or other similar laws now or hereafter in effect relating to creditors’ rights and (ii) general principles of equity.
(d) To the best of its knowledge after reasonable inquiry, except for approvals already given or obtained, no filing or registration with, no notice to and no permit, authorization, Consent or approval of any Person is required for the execution, delivery or performance of this Agreement by the Power Purchaser.
(e) The Power Purchaser is not in default under any agreement or instrument of any nature whatsoever to which it is a Party or by which it is bound in any manner that would have a material adverse effect on either its ability to perform its obligations hereunder or the validity or enforceability of this Agree...
