(a) The Vendor represents and warrants to Purchaser at the time of signing this Agreement and again at Settlement (as a separate warranty) as follows: (i) if the Vendor is located in Australia, the Vendor is one of the following: A. a "Sophisticated Investor" within the meaning of section 708(8) of the Corporations Act; B. a "Professional Investor" within the meaning of section 708(11) of the Corporations Act; or C. a person who has obtained this offer through a financial services licensee in accordance with, and in compliance with, section 708(10) of the Corporations Act; (ii) The Vendor is the registered legal owner of the Shares which are free of all encumbrances, other third party rights and there are no outstanding or contingent options, contracts, calls, pre-emptive rights, first refusals, commitments, rights or demands of any kind relating to the Shares. (iii) The Vendor is entitled to sell, assign and transfer the full legal and beneficial ownership in the Shares to the Purchaser on the terms set out in this Agreement. (iv) The Vendor has taken all necessary action to authorise the execution, delivery and performance of this Agreement in accordance with its terms and has full power to enter into and perform its obligations under this Agreement. (v) The execution, delivery and performance by the Vendor of this Agreement comply with: A. any applicable companies law; B. the constitution or other constituent documents of the Vendor, if any; and C. any encumbrance which is binding on the Vendor. (vi) If the Vendor is a corporation, it is validly incorporated, organised and subsisting in accordance with the laws of its place of incorporation; (vii) If the Vendor is a corporation, the Vendor has not gone into liquidation or insolvency or passed a winding up resolution or received a deregistration notice under any applicable companies law. (viii) If the Vendor is a corporation, the Vendor is not the subject of any petition or other process for winding up, writ of execution or process for the appointment of a receiver or receiver and manager of any part of the undertaking or assets of the Vendor and there are no circumstances justifying any of the foregoing. (b) Where the Vendor enters into this Agreement in its capacity as trustee of any trust (Trust), that Vendor warrants to Purchaser that: (i) it is the sole trustee of the Trust or where there are two or more Vendors they jointly are the only trustees of the trust; (ii) no action has been taken or is proposed to remove or replace the Vendor as trustee of the Trust; |