Representations and Warranties by Novartis and NIP. Each of Novartis and NIP hereby represents and warrants to Array as follows: (a) Such Party is a company existing under the laws of the jurisdiction of its organization. Such Party has the requisite power and authority to own or control, as applicable, the Transferred Assets and to carry on its business as currently conducted. Such Party is duly qualified to conduct business as a foreign corporation and is in good standing in each jurisdiction where the nature of the business conducted by it makes such qualification necessary, except where the failure to so qualify or be in good standing would not have a material adverse effect on the business or assets of such Party. (b) Such Party has the requisite power and authority to enter into this Agreement and the Ancillary Agreements and to consummate the
Representations and Warranties by Novartis and NIP. Each of Novartis and NIP hereby represents and warrants to Array as follows:
