Common use of REPRESENTATIONS AND WARRANTIES OF ASHFORD TRUST OP Clause in Contracts

REPRESENTATIONS AND WARRANTIES OF ASHFORD TRUST OP. As a material inducement to Optionees to enter into this Option Agreement and to consummate the transactions contemplated hereby, Ashford Trust OP hereby makes to Optionees each of the representations and warranties and covenants set forth in this Article III. The representations and warranties set forth in this Article III are true as of the date hereof. As a condition to Optionees’ obligation to complete the purchase of the Grantor Equity Interests after the exercise of the Purchase Option, such representations and warranties must continue to be true and correct, in all material respects, as of the Closing Date.