Common use of Contributed Entities Clause in Contracts

Contributed Entities. (a) The FC Parties have delivered or made available to the Presidential Parties true, correct and complete copies of the Organizational Documents of each of the FC Parties and the Contributed Entities. (b) The FC Parties have delivered or made available to the Presidential Parties true, correct and complete copies of all the notes, mortgages, deeds of trust, security agreements, UCC filings, guaranties and all other documents and agreements in any way related to the Permitted Liens. (c) The FC Parties have delivered or made available to the Presidential Parties true, correct and complete copies of annual financial statements, including, without limitation, balance sheets, income statements and statements of cash flow for the Contributed Entities prepared in conformance with prepared utilizing consistently applied accounting principles (collectively, the “Financial Statements”). (d) The Contributed Entities have no liabilities other than (i) the Permitted Liens, (ii) in connection with future performance obligations under any operating agreement disclosed to the Presidential Parties, or (iii) those liabilities that will be satisfied at the Closing pursuant to this Agreement. (e) Since the formation of the Contributed Entities, each of their sole business is and has been to own (directly or indirectly) one or more of the Contributed Properties and matters relating thereto.