Federal Cannabis Laws. The Parties agree and acknowledge that no Party makes, will make, or shall be deemed to make or have made any representation or warranty of any kind regarding the compliance of this Agreement with any Federal Cannabis Laws. No Party shall have any right of rescission or amendment arising out of or relating to any non-compliance with Federal Cannabis Laws unless such non-compliance also constitutes a violation of applicable state law as determined in accordance with the Act or by the Regulator, and no Party shall seek to enforce the provisions hereof in federal court unless and until the Parties have reasonably determined that the Act is fully compliant with Federal Cannabis Laws. As used herein, “Federal Cannabis Laws” means any U.S. federal laws, civil, criminal or otherwise, as such relate, either directly or indirectly, to the cultivation, harvesting, production, distribution, sale and possession of cannabis, marijuana or related substances or products containing or relating to the same, including, without limitation, the prohibition on drug trafficking under 21 U.S.C. § 841(a), et seq., the conspiracy statute under 18 U.S.C. § 846, the bar against aiding and abetting the conduct of an offense under 18 U.S.C. § 2, the bar against misprision of a felony (concealing another’s felonious conduct) under 18 U.S.C. § 4, the bar against being an accessory after the fact to criminal conduct under 18 U.S.C. § 3, and federal money laundering statutes under 18 U.S.C. §§ 1956, 1957, and 1960 and the regulations and rules promulgated under any of the foregoing.
Federal Cannabis Laws. The parties acknowledge that as of the date hereof, the production, sale, possession and use of cannabis are illegal under the Controlled Substances Act, 21 USC 801 et seq., as it applies to marijuana (“CSA”) and that cannabis is currently classified as a Schedule I controlled substance under the CSA. The United States Supreme Court has confirmed that the federal government has the right to regulate and criminalize cannabis, including for medical purposes, and that federal law criminalizing the use of cannabis preempts state laws that legalize its use. The parties hereto understand that while cannabis production is currently legal under the laws of the Commonwealth of Massachusetts and certain other states, they are subject to change and that the production, sale, use and possession of cannabis may remain illegal under federal law for the foreseeable future.
Federal Cannabis Laws. THE PARTIES AGREE AND ACKNOWLEDGE THAT NO PARTY MAKES, WILL MAKE, OR SHALL BE DEEMED TO MAKE OR HAVE MADE ANY REPRESENTATION OR WARRANTY OF ANY KIND REGARDING THE COMPLIANCE OF THIS AGREEMENT WITH ANY FEDERAL CANNABIS LAWS. NO PARTY SHALL HAVE ANY RIGHT OF RESCISSION OR AMENDMENT ARISING OUT OF OR RELATING TO ANY NON-COMPLIANCE WITH FEDERAL CANNABIS LAWS UNLESS SUCH NON-COMPLIANCE ALSO CONSTITUTES A VIOLATION OF APPLICABLE CANADIAN OR STATE LAW AS DETERMINED IN ACCORDANCE WITH THE ACT OR BY THE REGULATOR.
Federal Cannabis Laws. Notwithstanding anything in this Agreement or the other documents contemplated hereby to the contrary, neither Cannex nor any of its Subsidiaries, directors, officers, shareholders, employees or other agents makes any representation or warranty, whether express or implied, written or oral, on behalf of Cannex as to the applicability of and compliance with United States federal Law dealing with the possession, use, cultivation, and/or transfer of cannabis and any related drug paraphernalia (including but not limited to Title 21 of the United States Code, the U.S. Controlled Substances Act, and 26 U.S.C. § 280E) as it relates to Cannex, its Subsidiaries, its business and assets or to the transactions contemplated by this Agreement. The representations and warranties of Cannex contained in this Schedule “C” shall not survive the completion of the Business Combination and shall expire and be terminated on the earlier of the Effective Time and the date on which the Agreement is terminated in accordance with its terms. SCHEDULE “D” REPRESENTATIONS AND WARRANTIES OF BC NEWCO BC Newco hereby represents and warrants to Cannex, 4Front and Nevada Holdco as follows, and acknowledges that such Parties are relying upon such representations and warranties in connection with the entering into of the Agreement:
Federal Cannabis Laws. Notwithstanding anything in this Agreement or the other documents contemplated hereby to the contrary, neither 4Front nor any of its Subsidiaries, directors, officers, shareholders, employees or other agents makes any representation or warranty, whether express or implied, written or oral, on behalf of 4Front as to the applicability of and compliance with United States federal Law dealing with the possession, use, cultivation, and/or transfer of cannabis and any related drug paraphernalia (including but not limited to Title 21 of the United States Code, the U.S. Controlled Substances Act, and 26 U.S.C. § 280E) as it relates to 4Front, its Subsidiaries, its business and assets or to the transactions contemplated by this Agreement. The representations and warranties of 4Front contained in this Schedule “E” shall not survive the completion of the Business Combination and shall expire and be terminated on the earlier of the Effective Time and the date on which the Agreement is terminated in accordance with its terms.
Federal Cannabis Laws. Notwithstanding anything to the contrary provided in this Agreement, and in addition to any specific exception to Federal Cannabis Laws and any similar Applicable Law set forth in this Article 3, all representations, warranties and disclosures of the Parties in this Article 3 are being made with exception to and not with respect to Federal Cannabis Laws.
Federal Cannabis Laws. Notwithstanding anything in this Agreement or the other documents contemplated hereby to the contrary, neither the Company nor any of its directors, officers, shareholders, employees or other agents make any representation or warranty, whether express or implied, written or oral, on behalf of the Company as to the applicability of and compliance with United States federal Law dealing with the possession, use, cultivation, and/or transfer of cannabis (i.e., marijuana) and any related drug paraphernalia (including but not limited to Title 21 of the United States Code, the U.S. Controlled Substances Act, and 26 U.S.C. § 280E) as it relates to the Company, its business and assets or to the transactions contemplated by this Agreement.
Federal Cannabis Laws. The parties expressly understand, acknowledge, and agree that, as of the Closing Date, the sale, transport, distribution, processing, manufacturing, cultivation or possession of cannabis (collectively, the “Prohibited Activities”) violates U.S. federal law, including, without limitation, the Federal Cannabis Laws. The parties further understand, acknowledge, and agree that they are entering into this Agreement in compliance with the cannabis laws, policies, and regulations of Massachusetts and Illinois, including the Legal Requirements. The parties understand, acknowledge, and agree that the Legal Requirements are subject to interpretation and further regulation regarding the Prohibited Activities. Each party covenants and agrees to adhere to the laws, policies, and regulations of all applicable governmental authorities (except to the extent otherwise noted in the first sentence of this Section), including the Legal Requirements.
Federal Cannabis Laws. The Parties hereto agree and acknowledge that no party makes, will make, or shall be deemed to make or have made any representation or warranty of any kind regarding the compliance of this Agreement (or any of the transactions contemplated hereunder), the Seller, the Beneficial Owners LicenseCo, BrandCo or their respective businesses
Federal Cannabis Laws. The Parties acknowledge that as of the Effective Date of this Agreement, the production, sale, possession and use of cannabis are illegal under the CSA and that cannabis is currently classified as a Schedule I controlled substance under the CSA. The Parties could be subject to federal criminal prosecution as a result. The United States Supreme Court has confirmed that the federal government has the right to regulate and criminalize cannabis, including for medical purposes, and that federal law criminalizing the use of cannabis preempts state Laws that legalize its use. The Parties understand that while cannabis production is currently legal under Laws of the State of California, they are subject to change and that the sale and possession of medical and adult-use cannabis may remain illegal under federal Law for the foreseeable future.
