REPRESENTATIONS AND WARRANTIES OF THE ADVISOR PARENT. 11 Section 3.1. Organization and Qualification of the Advisor Parent 11 Section 3.2. Authority; Non-Contravention; Approvals 12 Section 3.3. The Advisor Interest 12 Section 3.4. Organization and Qualification of the Advisor and the Transferred Subsidiary 13 Section 3.5. Capitalization 14 Section 3.6. No Subsidiaries or Equity Investments 14 Section 3.7. Financial Statements 14 Section 3.8. Absence of Undisclosed Liabilities 14 Section 3.9. Absence of Certain Changes or Events 15 Section 3.10. Books and Records 15 Section 3.11. Tax Matters 15 Section 3.12. ERISA and Employee Benefits 16 Section 3.13. Employment Matters 17 Section 3.14. Labor Relations 17 Section 3.15. Absence of Litigation 17 Section 3.16. No Violation of Law 18 Section 3.17. Title to Assets; Encumbrances 18 Section 3.18. Sufficiency of Assets 18 Section 3.19. Insurance 18 Section 3.20. Contracts and Other Agreements 19 Section 3.21. No Disputed Accounts Payable 20 -i- TABLE OF CONTENTS (continued) Page Section 3.22. Intellectual Property 20 Section 3.23. Real Property 20 Section 3.24. Environmental Matters 21 Section 3.25. Bank Accounts 21 Section 3.26. No Other Clients 21 Section 3.27. Licenses 21 Section 3.28. Notes and Accounts Receivable 22 Section 3.29. Powers of Attorney 22 Section 3.30. Transactions and Related Parties 22 Section 3.31. Brokers 22 Section 3.32. Information for Proxy Statement 22 Section 3.33. Disclosure 22 Section 3.34. Expenses 22 Section 3.35. Securities Laws Matters 23 Section 3.36. Non-Foreign Status 23 ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE REIT 23 Section 4.1. Organization and Qualification of REIT and Operating Partnership 23 Section 4.2. Authority; Non-Contravention; Approvals 23 Section 4.3. Capitalization 24 Section 4.4. Brokers 25 Section 4.5. Proxy Statement 25 Section 4.6. SEC Documents 25 Section 4.7. Absence of Certain Change or Events 26 Section 4.8. Disclosure 26 ARTICLE V COVENANTS 26 Section 5.1. Conduct of the Advisor’s Business 26 Section 5.2. Conduct of the REIT’s Business 28 Section 5.3. Access to Information 28 Section 5.4. Commercially Reasonable Efforts 28 Section 5.5. Preparation of the Proxy Statement; REIT Stockholders Meeting 29 Section 5.6. Notification 30 Section 5.7. Transfer Taxes 31 -ii- TABLE OF CONTENTS (continued) Page Section 5.8. Non-Competition 31 Section 5.9. Nomination of the REIT Board 31 Section 5.10. Delivery of Financial Statements 32 Section 5.11. Officers and Employees 32 Section 5.12. Restrictions on Resale ...
REPRESENTATIONS AND WARRANTIES OF THE ADVISOR PARENT. The Advisor Parent represents and warrants to the REIT and the Operating Partnership that, except as set forth in the disclosure schedule delivered by the Advisor Parent to the REIT prior to the execution and delivery of this Agreement (the “Advisor Disclosure Schedule”):
