(b)This Agreement has been duly authorized, executed, and delivered by the Company and constitutes a valid and binding agreement of the Company enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization, or other laws affecting enforcement of creditors’ rights or by general equitable principles.
4.Representations of the Sellers. In connection with the transactions contemplated hereby, each Seller, severally (and not jointly and severally), represents and warrants to the Company as of the date hereof and as of the Closing that:
(a)Such Seller is a trust validly existing under the laws of the jurisdiction of its organization.
(b)All consents, approvals, authorizations, and orders necessary for the execution and delivery by such Seller of this Agreement, and for the sale and delivery of the Shares to be sold by such Seller hereunder, have been obtained; and such Seller has full right, power, and authority to enter into this Agreement, and to sell, assign, transfer, convey, and deliver the Shares to be sold by such Seller hereunder.
(c)This Agreement has been duly authorized, executed, and delivered by such Seller and constitutes a valid and binding agreement of such Seller, enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization, or other laws affecting enforcement of creditors’ rights or by general equitable principles.
(d)Such Seller has valid title to the Shares to be sold hereunder by such Seller, and, upon transfer of the Shares to be sold by such Seller hereunder and payment therefor pursuant hereto, good and valid title to such Shares, free and clear of all liens, encumbrances, equities, or adverse claims (collectively, “Liens”), will pass to the Company.
(e)Such Seller (either alone or together with its advisors) has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the sale of the Shares. Such Seller has had the opportunity to ask questions and receive answers concerning the terms and conditions of the sale of the Shares and has had full access to such other information concerning the Company it has requested. Such Seller has received all information that it believes is necessary or appropriate in connection with the sale of the Shares. Such Seller is an informed and sophisticated party and has engaged, to the extent each such Seller deems appropriate, expert advisors experienced in the evaluation of transactions of the type contemplated hereby. Such Seller acknowledges that neither the Company nor any person on behalf of the Company has made, and such Seller has not relied upon, any express or implied representations, warranties, or statements of any nature, whether or not in writing or orally, including as to the accuracy and completeness of any information provided by or on behalf of the Company to the Sellers or their representatives, except as expressly set forth for the benefit of the Sellers in this Agreement.
(f)There is no suit, action, investigation, or proceeding pending or, to the knowledge of such Seller, threatened against such Seller that could impair the ability of such Seller to perform its obligations hereunder or to consummate the transactions contemplated hereby.
(g)Such Seller is not, as of the date hereof, and such Seller will not become, a party to any agreement, arrangement, or understanding which could result in the Company having any obligation or liability for any brokerage fees, commissions, underwriting discounts, or other similar fees or expenses relating to the transactions contemplated by this Agreement. No payment made by the Company to such Seller pursuant to this Agreement shall be subject to income tax withholding. Prior to the Closing, such Seller has provided to the Company an appropriate, correct and complete Internal Revenue Service Form W-9 or W-8.