Common use of Continuing Effectiveness and Survival of Representations Clause in Contracts

Continuing Effectiveness and Survival of Representations. All representations and warranties contained in any documents furnished to Lender by or on behalf of Borrower, as part of or in support of the Loan application or pursuant to this Agreement or any of the other Loan Documents (and all representations and warranties contained in any documents furnished to Mortgage Lender by or on behalf of Mortgage Borrower, as part of or in support of the Mortgage Loan application or pursuant to the Mortgage Loan Documents and all representations and warranties contained in any documents furnished to First Mezzanine Lender by or on behalf of First Mezzanine Borrower, as part of or in support of the First Mezzanine Loan application or pursuant to the First Mezzanine Loan Documents) shall be deemed continuing and in effect at all times while Borrower remains indebted to Lender and shall be deemed to be incorporated by reference in each requisition for an Advance by Borrower, and each Draw Request submitted to Lender as provided in Section 2.9.1 hereof shall constitute an affirmation that the representations and warranties contained in Article III of this Agreement and in the other Loan Documents remain true and correct in all material respects as of the date of such Draw Request unless Borrower specifically notifies Lender of any material change therein; and unless Lender is notified to the contrary, in writing, prior to the disbursement of the requested Advance or any portion thereof, shall constitute an affirmation that the same remain true and correct in all material respects on the date of such disbursement unless Borrower specifically notifies Lender of any change therein. The representations and warranties set forth in Section 3.1 shall survive, and any covenants contained in Section 3.1 shall continue, for so long as any amount remains payable to Lender under this Agreement or any of the other Loan Documents.

Continuing Effectiveness and Survival of Representations. All representations and warranties contained in any documents furnished to Lender by or on behalf of Borrower, Borrowers as part of or in support of the Loan application or pursuant to this Agreement or any of the other Loan Documents (and all representations and warranties contained in any documents furnished to Mortgage Lender by or on behalf of Mortgage Borrower, as part of or in support of the Mortgage Loan application or pursuant to the Mortgage Loan Documents and all representations and warranties contained in any documents furnished to First Mezzanine Lender by or on behalf of First Mezzanine Borrower, as part of or in support of the First Mezzanine Loan application or pursuant to the First Mezzanine Loan Documents) shall be deemed continuing and in effect at all times while Borrower Borrowers remains indebted to Lender and shall be deemed to be incorporated by reference in each requisition for an a Mortgage Loan Advance by Borrower, and each Mortgage Borrowers. Each Draw Request or Mortgage Borrower’s Requisition submitted to Lender as provided in Section 2.9.1 hereof the Building Loan Agreement shall constitute an affirmation that the representations and warranties contained in Article III 3 of this Agreement and in the other Loan Documents remain true and correct in all material respects as of the date of such Draw Request Mortgage Borrower’s Requisition unless Borrower specifically notifies Lender of any material change therein; and unless Lender is notified to the contrary, in writing, prior to the disbursement by Mortgage of the requested Mortgage Loan Advance or any portion thereof, shall constitute an affirmation that the same remain true and correct in all material respects on the date of such disbursement unless Borrower specifically notifies Lender of any change thereindisbursement. The representations and warranties set forth in Section 3.1 shall survive, and any covenants contained in Section 3.1 shall continue, for so long as any amount remains payable to Lender under this Agreement or any of the other Loan Documents.