RELL » Topics » Representations and Warranties

This excerpt taken from the RELL 10-Q filed Apr 12, 2007.

Representations and Warranties

The Agreement provides for typical representations and warranties among the parties that must be accurate on both the execution date and the closing date. Representations and warranties in the Agreement generally survive closing until January 31, 2009, subject to certain exceptions for representations and warranties with longer survival periods, including (i) those addressing tax matters, employee benefits and environmental, health and safety matters which survive until thirty days after expiration of the applicable statute of limitations, (ii) those addressing intellectual property matters which survive until the third anniversary of the closing date, and (iii) those addressing organization, authority, binding obligation, capitalization, non-contravention, consents, title, condition and sufficiency of the assets and brokers’ fees which survive indefinitely.

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