Common use of Representations and Warranties of Valdy Clause in Contracts

Representations and Warranties of Valdy. Valdy hereby represents and warrants to INX and the INX Securityholders as set forth below in this Section 3.1, and acknowledges that INX and the INX Securityholders are relying upon the accuracy of each of such representations and warranties in connection with the Securities Exchange and the completion of the other transactions hereunder. Notwithstanding the foregoing, INX and the INX Securityholders acknowledge that, except for the representations of Valdy made in Subsections 3.1(3) and 3.1(17)(a) through 3.1(17)(c), all the representations and warranties made by Valdy in this Agreement are true and correct as of the date of the Initial Agreement and Valdy has not updated its representations and warranties to be accurate as of the date hereof.