Series 79 practice questionmediumRepresentations and Warranties
A bring-down condition in an acquisition agreement requires that representations and warranties be accurate as of which date(s)?
- ABoth the signing and the closing of the agreement✓ Correct answer
- BOnly at the time the agreement is signed
- COnly on the closing date
- DOnly at the time of regulatory approval
Explanation
Why A — Both the signing and the closing of the agreement
Bring-down conditions require reps and warranties to be accurate at signing and again at closing. Forgetting the closing date requirement is a common trap, as it can affect deal certainty.
Turn it into reps
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