Common use of Representations and Warranties Upon Delivery of Financial Statements, Documents, and Other Information Clause in Contracts

Representations and Warranties Upon Delivery of Financial Statements, Documents, and Other Information. Each delivery by Borrower to Lender of financial statements, other documents (other than any budget or financial forecast or projection), or information (other than any budget or financial forecast or projection) after the date of this Agreement (including, without limitation, documents and information delivered in obtaining an Advance) is a representation and warranty that such financial statements, other documents, and information are correct and complete (in accordance with GAAP, except as noted therein) in all material respects, that there are no material omissions therefrom that result in such financial statements, other documents, or information being materially incomplete, incorrect, or misleading in any material respect as of the date thereof, and that such financial statements accurately present the financial condition and results of operations of Borrower as at the dates thereof in all material respects and for the periods covered thereby. Each delivery by Borrower to Lender of any budget or financial forecast or projection after the date of this Agreement represents ▇▇▇▇▇▇▇▇’s best estimates of the same. ▇▇▇▇▇▇ acknowledges that ▇▇▇▇▇▇▇▇’s actual financial results may vary for reasons beyond the control of Borrower, including but not limited to volume of business and levels of hotel occupancy in the area, the mix of businesses, prevailing wage rates, inflation, utility rates, insurance premiums, extraordinary repair and maintenance expenses and change in market conditions. ▇▇▇▇▇▇ acknowledges and agrees that ▇▇▇▇▇▇▇▇’s failure to achieve the results estimated in such budget or financial forecast or projection does not constitute an Event of Default under this Agreement.