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e ARTICLE II REPRESENTATIONS Section 2.1. Representations and Warranties ofthe Issuer. The Issuer makes the following representations and warranties as the basis for the undertakings herein contained: (a) The Issuer is a municipality duly organized and existing under the laws of the State of Arkansas. (b) The Issuer has the power to enter into the transactions contemplated by this Lease Agreement and to carry out its obligations hereunder. By proper action ofthe governing body of the Issuer, the Issuer has been duly authorized to execute and deliver this Lease Agreement. (c) The Issuer has not and will not except as otherwise required by mandatory provisions of law, assign its interest in this Lease Agreement other than to secure the Bonds. (d) The acquiring, constructing and equipping of the Project will promote the securing and developing of industry and will thereby further the public purposes of the Act. Section 2.2. Representations and Warranties of the Company. The Company makes the following representations and warranties as the basis for the undertakings herein contained: (a) The Company is a limited liability company duly organized under the laws of the State of Delaware and is in good standing under the laws of such state, is duly authorized to do business in the State of Arkansas and is in good standing under the laws of such state,has the power under its Articles of Organization and Operating Agreement to enter into this Lease Agreement,and has duly authorized the execution and delivery of this Lease Agreement by proper corporate action. (b) The Project is of the type authorized and permitted by the Act, and the Company intends to operate the Project to the expiration or earlier termination of this Lease Agreement for industrial purposes. (c) Estimated Project Costs have been determined in accordance with sound engineering and accounting principles, and the Company estimates that all of the proceeds of the Bonds will be expended to pay such Project Costs. (d) Neither the execution and deliveryof this Lease Agreement,the consummation ofthe transactions contemplated hereby, nor the compliance with the terms and conditions of this Lease Agreement conflicts with or results in a breach of the terms, conditions or provisions of any agreement or instrument to which Company is now a party or by which Company is bound, or constitutes a default under any of the foregoing,or results in the creation or imposition of any lien, e