{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "each-seller-party", "type": "definition", "offset": [0, 17]}, {"key": "jointly-and-severally", "type": "clause", "offset": [25, 46]}, {"key": "to-the-purchasers", "type": "clause", "offset": [71, 88]}], "snippet": "Each Seller Party hereby jointly and severally represents and warrants to the Purchasers as follows:", "size": 30, "samples": [{"hash": "ke4z22sHbYu", "uri": "/contracts/ke4z22sHbYu#representations-and-warranties-of-seller-parties", "label": "Stock Purchase Agreement (Emps Corp)", "score": 16.0, "published": true}, {"hash": "jLPvMmQpTCW", "uri": "/contracts/jLPvMmQpTCW#representations-and-warranties-of-seller-parties", "label": "Asset Purchase Agreement (Caspian Services Inc)", "score": 16.0, "published": true}, {"hash": "dZKF1mQHa3L", "uri": "/contracts/dZKF1mQHa3L#representations-and-warranties-of-seller-parties", "label": "Stock Purchase Agreement (Emps Corp)", "score": 16.0, "published": true}], 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"clause", "offset": [1407, 1423]}, {"key": "lapse-of-time", "type": "clause", "offset": [1427, 1440]}, {"key": "without-limitation", "type": "clause", "offset": [1477, 1495]}, {"key": "amended-and-restated-stockholders-agreement", "type": "clause", "offset": [1508, 1551]}, {"key": "dated-as-of", "type": "definition", "offset": [1553, 1564]}, {"key": "obligation-to", "type": "clause", "offset": [1687, 1700]}, {"key": "a-party", "type": "clause", "offset": [1727, 1734]}, {"key": "the-creation-of-any", "type": "clause", "offset": [1821, 1840]}, {"key": "certificate-of-incorporation-or-bylaws", "type": "clause", "offset": [1934, 1972]}, {"key": "rule-or-regulation", "type": "definition", "offset": [2043, 2061]}, {"key": "any-order", "type": "definition", "offset": [2065, 2074]}, {"key": "respective-securities", "type": "definition", "offset": [2162, 2183]}, {"key": "no-consent", "type": "clause", "offset": [2210, 2220]}, {"key": "notice-to", "type": "definition", "offset": [2287, 2296]}, {"key": "governmental-authority", "type": "definition", "offset": [2302, 2324]}, {"key": "third-party", "type": "definition", "offset": [2332, 2343]}, {"key": "in-connection-with", "type": "clause", "offset": [2397, 2415]}, {"key": "closing-filings", "type": "definition", "offset": [2550, 2565]}, {"key": "applicable-state", "type": "definition", "offset": [2593, 2609]}, {"key": "federal-securities-laws", "type": "definition", "offset": [2613, 2636]}, {"key": "timely-filed", "type": "definition", "offset": [2652, 2664]}, {"key": "applicable-periods", "type": "clause", "offset": [2676, 2694]}], "snippet": "Each of the Seller Parties (except that with respect to DR, the clarification made in section 3.7 shall apply) hereby, jointly and severally, represents and warrants to the Purchaser and ML, as of the date hereof, that:\n3.1 Each Seller Party is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization. Each Seller Party has requisite corporate or equivalent power and authority to execute this Agreement and to perform its obligations hereunder. The execution, delivery and performance of this Agreement by each Seller Party has been duly authorized by all requisite corporate action on the part of that Seller Party.\n3.2 This Agreement has been duly and validly executed and delivered by each of the Seller Parties and this Agreement constitutes a valid and legally binding obligation of each of the Seller Parties enforceable against each of the Seller Parties in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar Laws of general applicability relating to or affecting creditors\u2019 rights and to general equity principles.\n3.3 The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby will not: (i) result in the breach of, conflict with, constitute a default under, or result in the termination or acceleration of (whether after the filing of notice or lapse of time or both), any agreement (including, without limitation, the Fourth Amended and Restated Stockholders Agreement, dated as of March 29, 2005, by and among DR and its stockholders (the \u201cStockholders Agreement\u201d)), instrument of indebtedness or other obligation to which any Seller Party is a party or by which it is bound or to which its securities or assets is subject, or result in the creation of any lien, encumbrance or claim upon said securities or assets; (ii) violate any provision of the certificate of incorporation or bylaws of any of the Seller Parties; or (iii) contravene or violate any Law, rule or regulation or any order, writ, judgment, injunction or decree to which any of the Seller Parties or any of its respective securities or assets is subject.\n3.4 No consent, approval or authorization of, or filing or registration with, or notice to, any governmental authority or any third party on the part of any of the Seller Parties is required in connection with the execution and delivery of this Agreement, or the 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["representations-and-warranties-reaffirmation-of-performance-undertaking", "Representations and Warranties Reaffirmation of Performance Undertaking"], ["governing-law", "Governing Law"], ["representations-and-warranties-of-seller-parties", "REPRESENTATIONS AND WARRANTIES OF SELLER PARTIES"], ["funding-losses", "Funding Losses"]], "size": 202, "id": "representations-and-warranties-of-seller-parties", "related": [["representations-and-warranties-of-sellers", "REPRESENTATIONS AND WARRANTIES OF SELLERS", "REPRESENTATIONS AND WARRANTIES OF SELLERS"], ["representations-and-warranties-of-seller", "REPRESENTATIONS AND WARRANTIES OF SELLER", "REPRESENTATIONS AND WARRANTIES OF SELLER"], ["representations-and-warranties-of-seller-and-purchaser", "REPRESENTATIONS AND WARRANTIES OF SELLER AND PURCHASER", "REPRESENTATIONS AND WARRANTIES OF SELLER AND PURCHASER"], ["representations-and-warranties-of-the-seller-parties", "REPRESENTATIONS AND WARRANTIES OF THE SELLER PARTIES", "REPRESENTATIONS AND WARRANTIES OF THE SELLER PARTIES"], ["representations-and-warranties-of-parties", "Representations and Warranties of Parties", "Representations and Warranties of Parties"]], "related_snippets": [], "updated": "2026-08-06T04:42:50+00:00", "also_ask": [], "drafting_tip": "", "explanation": "The \"Representations and Warranties of Seller Parties\" clause sets out the specific statements and assurances that the seller and related parties make to the buyer regarding the condition, ownership, and legal status of the assets or business being sold. Typically, this clause covers matters such as the seller's authority to enter into the agreement, the absence of undisclosed liabilities, compliance with laws, and the accuracy of financial statements. Its core function is to provide the buyer with a clear understanding of the seller's obligations and the state of the assets, thereby allocating risk and offering recourse if any of the representations prove to be false or misleading."}, "json": true, "cursor": ""}}