Common use of Continuing Effect of Representations and Warranties Clause in Contracts

Continuing Effect of Representations and Warranties. The representations and warranties set forth in Section 3 hereof shall be true and correct as of the date hereof and as of the date of the release of funds from escrow for the purchase by the Subscriber of the Membership Interests hereunder and the admission of the Subscriber as a member of the Company. If in any respect such representations and warranties are not true and accurate prior to the release of funds from escrow and the admission of the Subscriber as a member of the Company, the Subscriber shall give immediate written notice of such fact to the Company, specifying which representations and warranties are not true and accurate and the reasons therefor.