Common use of Representations and Warrants of the Company Clause in Contracts

Representations and Warrants of the Company. As an inducement to enter into this Agreement, the Company hereby represents and warrants to each Executive as follows: (a) The Company is a limited liability company validly existing and in good standing under the laws of the State of New Jersey and is qualified to do business in every jurisdiction in which its ownership of property or conduct of business requires it to qualify, except for such jurisdictions in which the failure to so qualify, would not have a material adverse effect on the Company. (b) The execution, delivery and performance of this Agreement have been duly authorized by the Company. This Agreement constitutes a valid and binding obligation of the Company, enforceable in accordance with its terms, except to the extent that the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' rights generally and by general principles of equity.