As Is Where Is Basis’ Clause Samples
The 'As Is Where Is Basis' clause establishes that the buyer accepts the property or goods in their current condition and location, without any warranties or guarantees from the seller regarding quality, fitness, or future performance. In practice, this means the buyer cannot later claim compensation for defects or issues discovered after the sale, and the seller is not obligated to make repairs or improvements. This clause primarily serves to allocate risk to the buyer, ensuring that the seller is protected from post-sale liability and that the buyer is responsible for conducting due diligence before completing the transaction.
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As Is Where Is Basis’. Except as expressly set out herein, the Licensor makes no representation in relation to the Licensed Premises and shall not have any liability in relation to the Licensed Premises. The Licencee confirms having inspected and examined the Licensed Premises including all equipment, installations and Fixtures thereto or thereon and fully understands and comprehends the requirements of the Licensed Premises being taken on leave and licence basis. The Licencee also confirms full satisfaction as to the suitability and viability of the Licensed Premises for operating a 5 star hotel under a Brand and other allied uses permitted in Clause 5.3 herein and unequivocally agrees not to seek or make any claim, damages, reimbursement, compensation or any other consideration, whatsoever on this account from the Licensor. The Licencee also confirms having made independent assessment of taking the Licensed Premises on leave and licence and no future claim whatsoever regarding any change in market or business conditions shall be cited or used by it as an alibi or excuse for non-payment of the Licence Fee and/or non-performance of any other terms and conditions of this Agreement.
As Is Where Is Basis’.
8.1 The Parties agree that post consummation of the instant Acquisition, all proceedings so initiated against the Target Company by the taxation authorities or other governmental bodies shall be handled by the new shareholders of the Target Company i.e. Danish Elahi or such other party as Danish Elahi so nominates. Provided further that the same does not preclude SWVL’s liability from any claims raised by vendors or customers of the Target Company with respect to the operations of the Target Company prior to the Completion Date.
As Is Where Is Basis’. Buyer acknowledges and agrees that Seller, except with respect to the representations and warranties expressly set forth in this Agreement and any contractual obligations under this Agreement, has not and does not represent, warrant or covenant the nature, accuracy, completeness, enforceability or validity of any Loan or Loan Documents, or any information or documents made available to Buyer or its counsel, accountants or advisors in connection with the Loans and the Loan Documents and, except with respect to the representations and warranties and related remedies expressly set forth in this Agreement and any contractual obligations under this Agreement, all documentation, information, analysis and/or correspondence, if any, which is or may be sold, transferred, assigned and conveyed to Buyer with respect to any and all Loans and Loan Documents is sold, transferred, assigned and conveyed to Buyer on an “AS IS, WHERE IS” basis, WITH ALL FAULTS.
As Is Where Is Basis’. It is expressly acknowledged and agreed by Purchaser that no representations or warranties of any kind, have been made by Vendor to Purchaser with respect to the Property, and that any statements whatsoever made by Vendor to Purchaser are not material and have not been relied upon by Purchaser. Without limiting the generality of this acknowledgment and agreement, it is specifically acknowledged and agreed that the Property shall be accepted by the Purchaser on an “as-is”, “where-is” condition, “with all faults” as at the date of this Agreement.
As Is Where Is Basis’. The Licencee shall obtain electric and water connections and would get the load for light and power sanctioned in its name after completing all formalities like deposits of the new connections fee etc. and shall bear the electric and water consumption charges by itself. The Licencee shall not exceed the sanctioned electric load and if any additional load is required by the Licencee over and above that what is installed, the same would be sanctioned subject to its feasibility on receipt of such a request and the work of laying cable etc., if necessary, would be got done at the Licencee’s cost, to the satisfaction of the Licensor.
As Is Where Is Basis’. The AHIP Acquiring Subsidiary acknowledges that, except for the representations and warranties set forth in Sections 1.3(n) and 1.3(o) of this Annex A and elsewhere in the Sale Agreement, there are no other representations or warranties, express or implied, statutory or otherwise, as to title, Encumbrances, description, fitness for purpose, merchantability or otherwise with respect to the AHIP Development Property or SunOne Development Property, as applicable.