Common use of Representations Upon Purchase and Sale Clause in Contracts

Representations Upon Purchase and Sale. Such purchase and sale shall be expressly made without representation or warranty of any kind by Term Loan Agent or any Term Loan Secured Party as to the Term Loan Debt or otherwise and without recourse to the Term Loan Secured Parties; except, that, each Term Loan Secured Party that is transferring such Term Loan Debt shall represent and warrant, severally as to it: (a) the amount of the Term Loan Debt being purchased from it is as reflected in the books and records of such Term Loan Secured Party (but without representation or warranty as to the collectability, validity or enforceability thereof), (b) that such Term Loan Secured Party owns the Term Loan Debt being sold by it free and clear of any liens or encumbrances and (c) such Term Loan Secured Party has the right to assign the Term Loan Debt being sold by it and the assignment is duly authorized.

Representations Upon Purchase and Sale. Such purchase and sale shall be expressly made without representation or warranty of any kind by either Term Loan Agent or any Term Loan Secured Party as to the Term Loan Debt Obligations or otherwise and without recourse to the Term Loan Agents or any other Term Loan Secured Parties; except, that, each Term Loan Secured Party that is transferring such Term Loan Debt Obligations shall represent and warrant, severally as to it: (a) the amount of the Term Loan Debt Obligations being purchased from it is as reflected in the books and records of such Term Loan Secured Party (but without representation or warranty as to the collectability, validity or enforceability thereof), (b) that such Term Loan Secured Party owns the Term Loan Debt Obligations being sold by it free and clear of any liens or encumbrances and (c) such Term Loan Secured Party has the right to assign the Term Loan Debt Obligations being sold by it and the assignment is duly authorized.