REPRESENTATIONS AND WARRANTIES OF PDC AND LLC Clause Samples

The "Representations and Warranties of PDC and LLC" clause sets out the specific statements of fact and assurances that both PDC and the LLC make to each other as part of their agreement. These representations may cover matters such as each party's authority to enter into the contract, the accuracy of financial statements, compliance with laws, and the absence of undisclosed liabilities. By clearly stating these facts, the clause allocates risk between the parties and provides a basis for legal recourse if any of the representations or warranties are later found to be untrue.