Representations and Warranties of Skarb. Skarb represents and warrants that: (a) it is a corporation validly existing, duly organized and in good standing under the laws of its jurisdiction of incorporation; (b) it has the requisite power and authority to enter into and carry out the terms of this Agreement; and (c) this Agreement has been duly executed and delivered by Skarb and constitutes a legal, valid and binding obligation of Skarb, enforceable against it in accordance with its terms, except as may be limited by bankruptcy, insolvency and other laws affecting the enforcement of creditors’ rights generally and subject to the qualification that equitable remedies may only be granted in the discretion of a court of competent jurisdiction.
