REPRESENTATIONS AND WARRANTIES OF SELLER 10. 4.1 QUEYROUZE’S CAPACITY AND OWNERSHIP INTEREST IN SELLER 11 4.2 ORGANIZATION 11 4.3 REQUISITE POWER AND AUTHORITY 11 4.4 ABSENCE OF BREACH 12 4.5 OWNERSHIP OF ASSETS 12 4.6 CONDITION OF ASSETS 13 4.7 COMPLIANCE; LICENSES AND PERMITS 13 4.8 CONTRACTS 13 4.9 TRADE PAYABLES 14 4.10 INVENTORY 14 4.11 REAL PROPERTY LEASE 14 4.12 EASEMENTS 15 4.13 PROPRIETARY RIGHTS 15 4.14 OTHER PROPERTY 15 4.15 INSURANCE 15 4.16 FINANCIAL STATEMENTS 16 4.17 NO ASSIGNMENTS 16 4.18 TAXES 16 4.19 NO VIOLATIONS 17 4.20 BUSINESS NAMES 17 4.21 BROKERS’ FEES AND EXPENSES 17 4.22 LITIGATION 17 4.23 LABOR MATTERS 17 4.24 BENEFIT PLANS AND ERISA 18 4.25 ENVIRONMENTAL MATTERS 18 4.26 FULL DISCLOSURE 19 4.27 PURCHASER’S KNOWLEDGE 19 ARTICLE 5 REPRESENTATION AND WARRANTIES OF PURCHASER 19 5.1 ORGANIZATION OF PURCHASER 19 5.2 REQUISITE POWER AND AUTHORITY 20 5.3 ABSENCE OF BREACH 20 5.4 BROKERS FEES AND EXPENSES 20 ARTICLE 6 COVENANTS 20 6.1 PRESERVATION OF BUSINESS AND RELATIONSHIPS; INSURANCE 20 6.2 PROHIBITED TRANSACTIONS 21 6.3 PURCHASER’S ACCESS TO PREMISES AND INFORMATION; CONFIDENTIALITY 21 6.4 CONSENTS 22 6.5 NO NEGOTIATIONS 22 6.6 NOTIFICATION OF CERTAIN MATTERS 23 6.7 CONFIDENTIAL INFORMATION 23 6.8 PURCHASER GUARANTEE 24 6.9 REAL ESTATE MATTERS 24 6.10 ENVIRONMENTAL MATTERS 25 6.11 REAL PROPERTY LEASE NOTICES 25 6.12 FURTHER ASSURANCES 25 6.13 INVESTOR APPROVAL 26 6.14 DEPOSITS, PRE-PAID EXPENSES, ETC 26 6.15 CERTAIN STATE SALES TAXES; RESALE CERTIFICATES 26 6.16 MINIMUM INVENTORY LEVELS 26 6.17 SELLER’S PRODUCTION OF INFORMATION TO PURCHASER 26 ARTICLE 7 CONDITIONS TO PURCHASER’S OBLIGATIONS 26 7.1 REPRESENTATIONS AND WARRANTIES TRUE AT CLOSING 26 7.2 OBLIGATIONS PERFORMED 26 7.3 AUTHORIZATIONS, CONSENTS, LICENSES, PERMITS AND APPROVALS 27 7.4 CLOSING DOCUMENTS 27 7.5 INSPECTION 27 7.6 SELLER’S DELIVERIES 27 7.7 AUDITED STATEMENTS 29 7.8 NO CHALLENGE 29 7.9 NO MATERIAL ADVERSE EFFECT 29 7.10 MINIMUM INVENTORY AND WORKING CASH LEVEL 29 7.11 FAILURE TO OBTAIN LESSOR’S CONSENT 29 7.12 REAL ESTATE MATTERS 30 7.14 DUE DILIGENCE MATTERS 30 7.15 EMPLOYMENT CONTRACTS 30 7.16. APPROVAL OF SCHEDULES AND EXHIBITS 31 7.17 CLOSING OF THE TRANSACTIONS CONTEMPLATED BY THE RELATED AGREEMENTS 31 7.18 BOARD OF DIRECTOR APPROVAL 31 7.19 PRE-CLOSING INVESTIGATION 31 ARTICLE 8 CONDITIONS TO SELLER’S OBLIGATIONS 31 8.1 REPRESENTATIONS AND WARRANTIES TRUE AT CLOSING 31 8.2 OBLIGATIONS PERFORMED 31 8.3 PURCHASER’S DELIVERIES 31 8.4 NO CHALLENGE 32 8.5 INVESTOR APPROVAL; AUTHORIZATIONS, CONSENTS, LICEN...
REPRESENTATIONS AND WARRANTIES OF SELLER 10. SECTION 5.1. Seller Organization; Good Standing 10 SECTION 5.2. Authority; Execution and Delivery 10 SECTION 5.3. Consents; No Violation, Etc. 11 SECTION 5.4. Title to Transferred Assets 11 SECTION 5.5. Litigation 11 SECTION 5.6. Regulatory Issues 12 SECTION 5.7. No Brokers 12 SECTION 5.8. Exclusive Representations and Warranties 12 SECTION 5.9. Regulatory Commitments 12 SECTION 5.10. Contracts to be Assumed; Customers 12 SECTION 5.11. Inventory. 13 SECTION 5.12. Assets. 13 SECTION 5.13. Absence of Certain Changes. 13
REPRESENTATIONS AND WARRANTIES OF SELLER 10. Section 3.1 Due Organization and Power 10 Section 3.2 Authority 10 Section 3.3 No Violation 10 Section 3.4 Title to and Condition, Sufficiency and Identification of Assets 11 Section 3.5 Financial Matters 12 Section 3.6 Business Receivables 13 Section 3.7 Business Inventory; Rental Fleet 13 Section 3.8 Real Property 13 Section 3.9 Material Contracts 14 Section 3.10 Assigned Contracts 15 Section 3.11 Absence of Certain Changes 16 Section 3.12 Compliance with Laws; Permits 16 Section 3.13 Legal Proceedings; Governmental Orders 17 Section 3.14 Environmental Matters 18 Section 3.15 Tax Matters 19 Section 3.16 Labor Matters 20 Section 3.17 Employee Benefit Plans 21 Section 3.18 Intellectual Property 23 Section 3.19 Product Warranty and Product Liability 23 Section 3.20 Major Customers and Suppliers 24 Section 3.21 Certain Relationships to Seller 24 Section 3.22 Insurance 24 Section 3.23 Pandemic 25 Section 3.24 No Brokers or Finders 25 Section 3.25 Disclaimer of Other Representations and Warranties 25
REPRESENTATIONS AND WARRANTIES OF SELLER 10. Section 3.1. Corporate Status 10 Section 3.2. Power and Authority 10 Section 3.3. Conflicts Under Constituent Documents or Laws 10 Section 3.4. Consents 10 Section 3.5. Included Assets 11 Section 3.6. Intellectual Property Rights 11 Section 3.7. Employee Matters 11 Section 3.8. Financial Information 11 Section 3.8. Brokers 11
REPRESENTATIONS AND WARRANTIES OF SELLER 10. 4.1 Organization; Good Standing of Seller 10 4.2 Consent of Third Parties 10 4.3 Authority; Enforceability 11 4.4 Absence of Conflicts 11 4.5 No Judgments 11 4.6 No Governmental Approvals 11 4.7 Insurance 11 4.8 Litigation 11 4.9 Compliance with Laws 12 4.10 Environmental Matters 12 4.11 Assessments 12 4.12 Property Agreements 12 4.13 Licenses 12 4.14 Resident Agreements 13 4.15 Medicare; Medicaid. 13 4.16 Condemnation 14 4.17 Condition of Property 14 4.18 Independent Property 15 4.19 Utilities Access 15 4.20 Zoning 15 4.21 FIRPTA 15 4.22 Interests; Title 15 4.23 Title Encumbrances 16 4.24 Affordable Housing Xxxxx 00 0.00 Xx Xxx Xxxxxx Xxxxxxx 16 TABLE OF CONTENTS (cont’d) Page
REPRESENTATIONS AND WARRANTIES OF SELLER 10. Section 2.1 Formation and Related Matters 10 Section 2.2 Authorization and Enforceability 11 Section 2.3 Books and Records 11 Section 2.4 Capitalization 11 Section 2.5 Conflicts; Consents of Third Parties 11 Section 2.6 Financial Statements. 12 Section 2.7 No Undisclosed Liabilities 12 Section 2.8 Absence of Certain Developments 12 Section 2.9 Taxes 14 Section 2.10 Real Property 16 Section 2.11 Tangible Personal Property; Title and Condition of Assets 17 Section 2.12 Intellectual Property 17 Section 2.13 Contracts. 20 Section 2.14 Employee Benefits 22 Section 2.15 Labor 23 Section 2.16 Litigation 25 Section 2.17 Compliance with Laws; Permits 25 Section 2.18 Environmental Matters 26 Section 2.19 Insurance 27 Section 2.20 Receivables 28 Section 2.21 Inventory 28 Section 2.22 Customers and Suppliers. 28 Section 2.23 Warranty Liabilities 29 Section 2.24 Guaranties and Liabilities 29 Section 2.25 Related Party Transactions 29 Section 2.26 Brokers Fees 29 Section 2.27 Absence of Certain Business Practices; FCPA 29 Section 2.28 Surety Bonds 30 Section 2.29 PPP Loans 30 Section 2.30 Investor Representations 30 Article III REPRESENTATIONS AND WARRANTIES OF PURCHASER AND PARENT 31 Section 3.1 Formation and Related Matters 31 Section 3.2 Authorization and Enforceability 31 Section 3.3 Conflicts; Consents of Third Parties 32 Section 3.4 Brokers Fees 32 Article IV COVENANTS 33 Section 4.1 Further Assurances; Support 33 Section 4.2 Names and Logos 33 Section 4.3 Mail; Payments; Receivables 34 Section 4.4 Public Announcements; Confidentiality 34
