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This excerpt taken from the RICK 8-K filed Aug 11, 2009. Representations and Warranties of the Company. The Company represents and warrants to the Holder that:
(a) Organization. The Company is validly existing and in good standing under the laws of the state of Texas and has the requisite power to own, lease and operate its properties and to carry on its
business as now being conducted. The Company is duly qualified to do business and is in good standing in each jurisdiction in which the character or location of the properties owned or leased by the Company or the nature of the business conducted by the Company makes such qualification necessary or advisable, except where the failure to do so would not have a material adverse effect on the Company.
(b) Power and Authority. The Company has the requisite power to execute, deliver and perform this Debenture, and to consummate the transactions contemplated hereby. The execution
and delivery of this Debenture by the Company and the consummation of the transactions contemplated hereby have been duly authorized by all necessary corporate action on the part of the Company. This Debenture has been duly executed and delivered by the Company and constitutes a legal, valid and binding obligation of the Company and is enforceable against the Company in accordance with its terms except (i) that such enforcement may be subject to bankruptcy, insolvency, moratorium or similar laws affecting
creditors' rights and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief are subject to certain equitable defenses and to the discretion of the court before which any proceedings therefor may be brought.
6. This excerpt taken from the RICK 8-K filed Sep 8, 2008. Representations
and Warranties of the Company. The Company represents and
warrants to the Holder that:
(a) Organization. The
Company is validly existing and in good standing under the laws of the state of
Texas and has the requisite power to own, lease and operate its properties and
to carry on its business as now being conducted. The Company is duly
qualified to do business and is in good standing in each jurisdiction in which
the character or location of the properties owned or leased by the Company or
the nature of the business conducted by the Company makes such qualification
necessary or advisable, except where the failure to do so would not have a
material adverse effect on the Company.
(b) Power and
Authority. The Company has the requisite power to
execute, deliver and perform this Note, and to consummate the transactions
contemplated hereby. The execution and delivery of this Note by the
Company and the consummation of the transactions contemplated hereby have been
duly authorized by all necessary corporate action on the part of the
Company. This Note has been duly executed and delivered by the
Company and constitutes a legal, valid and binding obligation of the Company and
is enforceable against the Company in accordance with its terms except (i) that
such enforcement may be subject to bankruptcy, insolvency, moratorium or similar
laws affecting creditors' rights and (ii) that the remedy of specific
performance and injunctive and other forms of equitable relief are subject to
certain equitable defenses and to the discretion of the court before which any
proceedings therefor may be brought.
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