Representations and Warranties by NMAC and the Transferor Sample Clauses
The 'Representations and Warranties by NMAC and the Transferor' clause sets out specific statements and assurances made by both NMAC and the Transferor regarding the accuracy of information and the condition of assets involved in the transaction. Typically, this clause will detail facts such as the authority of each party to enter into the agreement, the validity of transferred assets, and the absence of undisclosed liabilities or legal issues. Its core function is to allocate risk by ensuring that both parties are legally bound to the truthfulness of their statements, providing a basis for remedies if any representation or warranty proves to be false.
Representations and Warranties by NMAC and the Transferor. Each of NMAC and the Transferor, jointly and severally, represents and warrants to the Underwriters, as of the date hereof and as of the Closing Date referred to in Section 2(c), and agrees with the Underwriters as follows: