Common use of Hotel Financial Statements Clause in Contracts

Hotel Financial Statements. The Company has delivered to Buyer copies of all (i) Hotel Financial Statements, (ii) operating statements prepared by the Existing Manager or the Company for the Hotel, and (iii) monthly financial statements prepared by the Existing Manager or the Company for the Hotel. Each of such statements is complete and accurate in all material respects and, except in the case of budgets prepared in advance of the applicable operating period to which such budgets relate, fairly presents the financial condition and results of operations of the Hotel for the respective periods represented thereby. The Company has relied upon the Hotel Financial Statements in connection with its ownership and operation of the Hotel, and there are no independent audits or financial statements prepared by third parties relating to the operation of the Hotel other than the Hotel Financial Statements provided to Buyer.

Hotel Financial Statements. The With respect to each Hotel, the Company has delivered to Buyer copies of all (i) Hotel Financial Statements, (ii) operating statements prepared by the Existing Manager or the Company for the such Hotel, and (iii) monthly financial statements prepared by the Existing Manager or the Company for the such Hotel. Each of such statements is complete and accurate in all material respects resp`ects and, except in the case of budgets prepared in advance of the applicable operating period to which such budgets relate, fairly presents the financial condition and results of operations of the such Hotel for the respective periods represented thereby. The Company has relied upon the Hotel Financial Statements in connection with its ownership and operation of the HotelHotels, and there are no independent audits or financial statements prepared by third parties relating to the operation of the Hotel Hotels other than the Hotel Financial Statements provided to Buyer.