REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR Sample Clauses

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. 2. (a) The Optionor represents and warrants to and covenants with the Optionee that:
AutoNDA by SimpleDocs
REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor represents, warrants and covenants to and with the Optionee as follows:
REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. (a) The Optionor represents and warrants to and covenants with the Optionee, with the knowledge that the Optionee relies upon same in entering into this Agreement that: it is the legally entitled to hold the Alberta Sun Property and the Property Rights; it is the recorded holder and beneficial owner of all of the Claims comprising the Alberta Sun Property free and clear of all liens, charges and claims of others, except for the Royalty payable to the Vendors and Firestone, and no taxes or rentals are or will be due in respect of any Claims; the Claims comprising the Alberta Sun Property have been duly and validly located and recorded pursuant to the laws of the jurisdiction in which the Alberta Sun Property is situate and are in good standing with respect to all filings, fees, taxes, assessments, work commitments or other conditions on the date hereof; there are not any adverse claims or challenges against or to the ownership of or title to any of the Claims comprising the Alberta Sun Property, nor to the knowledge of the Optionor is there any basis therefor, and there are no outstanding agreements or options to acquire or purchase the Alberta Sun Property or any portion thereof, and except for the Royalty, no person has any royalty or other interest whatsoever in production from any of the Claims comprising the Alberta Sun Property; no proceedings are pending for, and the Optionor is unaware of any basis for the institution of any proceedings leading to the placing of the Optionor in bankruptcy or subject to any other laws governing the affairs of insolvent persons; it has been duly incorporated, amalgamated or continued and validly exists as a corporation in good standing with respect to the filing of its annual reports under the laws of its jurisdiction of incorporation, amalgamation or continuation; it has duly obtained all corporate authorizations for the execution of this Agreement and for the performance of this Agreement by it and the consummation of the transactions herein contemplated will not conflict with or result in any breach of any covenants or agreements contained in, or constitute a default under, or result in the creation of any encumbrance under the provisions of the Articles or the constating documents of the Optionor or any shareholders' or directors' resolution, indenture, agreement or other instrument whatsoever to which the Optionor is a party or by which it is bound or to which it or the Alberta Sun Property may be subject; and th...
REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor confirms to the Assignee that all of the representations, warranties and covenants made by the Optionor in the Property Option Agreement continue to be valid and subsisting.
REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR 

Related to REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR

Time is Money Join Law Insider Premium to draft better contracts faster.