Common use of Representations, Warranties, Defaults Clause in Contracts

Representations, Warranties, Defaults. As of the Closing Date, after giving effect to the making of the Loan, (a) all representations and warranties of each Borrower and each other Loan Party set forth in any Loan Document shall be true and correct in all material respects (except for any representation or warranty that is by its terms already qualified by materiality, Material Adverse Effect or similar qualification, which shall be true and correct in all respects) as if made on and as of the Closing Date (except for representations and warranties that specifically refer to an earlier date, which shall be true and correct in all material respects as of such earlier date) and (b) no Default or Event of Default shall exist. The acceptance of the Loan by Borrowers shall be deemed to be a certification by Borrowers that the conditions set forth in this Section 5.4 have been satisfied.