Warranties of Verticalnet Regarding Insurance. Verticalnet warrants to Jodek that (i) the Insurer issued the Policy to Verticalnet, (ii) Verticalnet paid all premiums due under the Policy, (iii) Verticalnet has not knowingly made any statement or misstatement to the Insurer or taken any action or failed to take any action that would void the Policy, (iv) as of the date hereof, Verticalnet has not received notice that the Policy was cancelled or revoked, (v) Verticalnet believes the Policy should cover the claims asserted in the Action and the payment of the Outstanding Settlement Amount, (vii) the Insurer has denied, disclaimed or limited coverage for the Action consistent with the Insurer’s counsel’s letters of November 3, 2004 and May 5, 2006, attached hereto at Ex. A, and (viii) the Insurer has refused to contribute to the Settlement Amount or to pay the Outstanding Settlement Amount.
