This office lease form is states the terms and conditions to the commencement of construction to demised premises by the landlord and the rights and obligations of the tenant to the demised premises.
Tennessee Commencement Triggering Events Provision Drafted Using the Pyramiding Technique
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Multi-State
Control #:
US-OL1052
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Word;
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The representations and warranties allocate risk between the parties and serve as the foundation for an indemnification claim in case of a breach or inaccuracy. A breach or inaccuracy of a representation or warranty can also provide the other party with a right to terminate or refuse to close the transaction.
The Middle Ground: The Condition and Sufficiency of Assets representation asserts that each asset being transferred is in good operating condition and, other than the need for ordinary maintenance and non-material repairs, is suitable for use in the same way as it was being used in the Business prior to the transaction ...
The Company and its Subsidiaries have valid, good and marketable title to all personal property owned by them, free and clear of all Liens other than Permitted Liens.
An implied warranty is a legal term for the assurances that a product is fit for the purpose that it is intended and that it is merchantable, i.e., conforms to an ordinary buyer's expectations.
A Seller Solvency representation assures the acquirer that the seller is solvent and will remain solvent after the acquisition. The representation also assures the acquirer that it will have a good faith defense if the seller is not solvent.