Warranties of CollaGenex. In consideration of the performance of the obligations of Alliance under this Agreement, CollaGenex makes the following warranties to Alliance, which shall be true as of the date of execution of this Agreement and as of Actual Completion, provided, however, that Alliance shall have no right to claim as a breach of warranty, any fact fairly disclosed in the Disclosure Letter, and its right to claim under any warranty shall be limited to the extent Alliance knows of a breach of that warranty, as a result of its analysis of the documents listed in the Disclosure Letter. For the purposes of this Article 7, references to the Dislosure Letter shall, when taken in the context of the warranties being given as at Actual Completion, be deemed to be references to the Further Disclosure Letter:
