Materiality in representations — how is it quantified (e.g., by a USD amount)?
Frequency/market practice: Fairly common. Materiality qualifiers are commonly seen but often not quantified (other than specific warranties, e.g., contract value).
How is knowledge qualified (e.g., specific people, actual/constructive knowledge)?
Frequency/market practice: Knowledge qualifiers depend on the outcome of negotiation between the parties as to risk-sharing in the deal, and are often limited to the actual knowledge, subject to obligations of due enquiry, of certain specified members of senior management.