Common use of Representations and Warranties of the Cooperative Clause in Contracts

Representations and Warranties of the Cooperative. The Cooperative represents and warrants to the Subscriber as follows: a. The Cooperative is a duly organized and validly existing cooperative corporation organized under the laws of the State of Minnesota. b. The Cooperative is in good standing under the laws of the State of Minnesota and there are no proceedings or actions pending to limit or impair any of its powers, rights and privileges, or to dissolve it. c. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by proper board action of the Cooperative.

Representations and Warranties of the Cooperative. The Cooperative represents and warrants to the Subscriber Investor as follows: a. The Cooperative is a duly organized and validly existing cooperative corporation organized under the laws of the State of Minnesota. b. The Cooperative is in good standing under the laws of the State of Minnesota and there are no proceedings or actions pending to limit or impair any of its powers, rights and privileges, or to dissolve it. c. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by proper board action of the Cooperative.