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

REPRESENTATIONS AND WARRANTIES OF ASHFORD TRUST TRS. As a material inducement to Optionees to enter into this Option Agreement and to consummate the transactions contemplated hereby, Ashford Trust TRS hereby makes to Optionees each of the representations and warranties and covenants set forth in this Article IV. The representations and warranties set forth in this Article IV 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, in all material respects, as of the date of the Closing.