Repetition of representations and warranties
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Repetition of representations and warranties Start Comparison
Is it common to repeat warranties at closing?

Frequency/market practice: Fairly common; it is common to contractually provide that warranties are true, correct and accurate at all times between signing and completion.

Is it common to repeat warranties at all times between signing and closing?

Frequency/market practice: Fairly common; it is common to contractually provide that warranties are true, correct and accurate at all times between signing and completion.

Is a bring-down certificate at closing common?

Frequency/market practice: historically rare but a bring-down certificate at completion is becoming more common, especially in case of insured acquisitions.

What is the applicable repetition standard, e.g., true in all material respects or Material Adverse Effect?

Frequency/market practice: Fairly common; true, correct and accurate in all material respects is common but often carves out for key representations and warranties (which must be true, correct and accurate without any qualification).

Is double materiality common (a materiality qualification in bring-down at closing and in representation(s))?

Frequency/market practice: Rarely.