ILX's REPRESENTATIONS AND WARRANTIES. Each representation and warranty of any of the ILX Entities in any Loan Document shall be true and correct. The ILX Entities hereby each ratify, restate, reaffirm, republish and confirm the representations, warranties and covenants set forth in the Kohl's Ranch Loan Documents, the Combination Loan Documents, xxx xxe Global Loan Documents. In addition, the ILX Entities hereby warrant and represent to Lender that Lender's mortgage and security interest in all now owned and hereafter acquired timeshare intervals and units owned by and/or conveyed to Premiere Vacation Club (other than Carriage House intervals, in which Lender shall have no security interest) is and will at all times be a properly perfected first and prior security interest therein, and that no other creditor holds any security interest in said inventory save and except as follows: Bank of Enid, Oklahoma holds a first priority deed of trust with respect to 1,827 Timesharing Intervals located at VCA Tucson.
