REPRESENTATIONS AND WARRANTIES OF STARWOOD RELATING TO VISTANA. Except as otherwise disclosed or identified in (i) the Starwood SEC Documents filed on or prior to the Execution Date (excluding any risk factor disclosure and disclosure of risks included in any “forward-looking statements” disclaimer included in such Starwood SEC Documents that are predictive, forward-looking or primarily cautionary in nature); provided, this exception shall apply only to the extent that the relevance of such disclosure to the applicable representation and warranty is reasonably apparent on its face, or (ii) Vistana Disclosure Schedule, Starwood hereby represents and warrants to ILG and Merger Sub as follows:
REPRESENTATIONS AND WARRANTIES OF STARWOOD RELATING TO VISTANA. Section 5.01. Organization of Vistana 27 Section 5.02. Subsidiaries 27 Section 5.03. Due Authorization 27 Section 5.04. No Conflict 28 Section 5.05. Governmental Consents 28 Section 5.06. Capitalization of Vistana 28 Section 5.07. Capitalization of Subsidiaries 29 Section 5.08. Financial Statements 29 Section 5.09. Undisclosed Liabilities 30 Section 5.10. Litigation and Proceedings 30 Section 5.11. Legal Compliance 30 Section 5.12. Material Contracts 32 Section 5.13. Vistana Benefit Plans 33 Section 5.14. Labor Relations 35 Section 5.15. Tax Matters 36 Section 5.16. Brokers’ Fees 37 Section 5.17. Insurance 37 Section 5.18. Permits 37 Section 5.19. Real Property 37 Section 5.20. Intellectual Property 38 Section 5.21. Environmental Matters 40 Section 5.22. Absence of Changes 41 Section 5.23. Affiliate Matters 41 Section 5.24. Proxy Statement; Registration Statements 41 Section 5.25. Board and Shareholder Approval 42 Section 5.26. ILG Common Stock 42 Section 5.27. Sufficiency of the Vistana Assets 42 Section 5.28. Timeshare Matters 43 Section 5.29. No Other Representations and Warranties 43
