Representations, Warranties, and Covenants of Assuming Obligors. (a) Assuming Obligors hereby represent and warrant to Lender and Original Obligors, as of the date hereof that: (i) simultaneously with the execution and delivery hereof, Assuming Borrower has purchased from Original Borrower all of the Property and has accepted Original Borrower’s assignment of the Leases; (ii) Assuming Borrower has assumed the performance of Original Borrower’s obligations under the Leases which arise from and after the date hereof; (iii) Assuming Borrower has not granted to Original Borrower (x) a mortgage or other lien upon the Property or (y) a pledge of direct or indirect interests in Assuming Borrower to secure any debt or obligations owed to Original Borrower; and Assuming Obligors have reviewed all of the Loan Documents as modified by this Agreement, and consent to the terms thereof. For the avoidance of doubt, Assuming Obligors are not assuming the UCC-1 Financing Statements identified in Recitals A(4) and A(5) above as new UCC-1 Financing Statements will be filed with Assuming Borrower as debtor and Lender as secured party.
