Warranties and Obligations by Developer Clause Samples

Warranties and Obligations by Developer. Developer makes the following warranties as the basis for the undertakings on its part herein contained. A. The Developer is a Delaware limited liability company, duly organized and validly existing and properly registered to conduct business under the laws of the State of New Mexico, and registered to conduct business in the State of New Mexico. The Developer has the requisite corporate authority and power to enter into this Agreement and to perform its obligations hereunder, and it has duly authorized the execution and delivery of this Agreement. B. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, and Developer’s compliance with the terms and conditions of this Agreement will not violate the terms of the Developer's Articles of Organization or Operating Agreement or conflict with or result in a breach of any of the terms, conditions or provisions of any corporate restriction or any agreement or any instrument to which Developer is a party or by which it is bound, nor will it result in the creation or imposition of any prohibited lien, charge or encumbrance of any nature whatsoever upon the Property or the Project, except for any permitted encumbrances. C. There are no legal or administrative proceedings pending or, to Developer's knowledge, threatened against Developer or affecting the Project which, if determined adversely, would have a material adverse effect on Developer or the Project or on the ability of Developer to perform its obligations under this Agreement and any related agreements. D. At all times the Project shall comply in all material respects with all applicable zoning and planning ordinances, building codes, Federal Model Energy Code, flood regulations, environmental laws, ordinances, statutes, rules and regulations relating to the Project. E. Developer shall not amend or change its Operating Agreement or Articles of Organization or otherwise amend its governing documents in any manner if such amendment or change would result in a conflict with the terms of this Agreement at any time prior to three (3) years after the Project Completion Date. F. The Developer covenants and agrees that no GO Bond Funds awarded through this program will be used for sectarian religious purposes, and specifically that: i) there will be no religious test for tenancy eligibility; ii) there will be no requirement for attendance at religious services; iii) there will be no inquiry as to religious preference ...