This excerpt taken from the PTN 10-Q filed Feb 17, 2009.
12.1 Representations and Warranties of Palatin. Palatin represents and warrants that it has not granted and will not grant during the Term *** that is inconsistent with its obligations under this Agreement, and that it has the legal right, authority and power to enter into this Agreement and meet the obligations set forth herein.
12.2 Representations and Warranties of AstraZeneca. AstraZeneca represents and warrants that it has the legal right, authority and power to enter into this Agreement and meet the obligations set forth herein.
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12.3 Limitations on Representations and Warranties. EXCEPT AS EXPRESSLY PROVIDED IN THIS ARTICLE 10, NO PARTY TO THIS AGREEMENT MAKES ANY WARRANTY, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE, AND EACH PARTY TO THIS AGREEMENT SPECIFICALLY DISCLAIMS ANY AND ALL WARRANTIES OF ANY KIND WITH REGARD TO THE STUDY, THE STUDY PROTOCOL OR THE RESULTS, WHETHER EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY, WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE AND ANY WARRANTIES ARISING FROM COURSE OF DEALING OR USAGE OF TRADE. The Parties mutually agree and acknowledge that the Study is a research study, and that neither Party makes any representation, promise or warranty as to the outcome of the Study, such as any particular Study Results, including without limitation any particular Study Efficacy Data or Study Safety Data.