Each Obligor represents and warrants to the Lenders that after giving effect to this Amendment (a) the representations and warranties set forth in Section 9 of the Loan Agreement are true and correct in all material respects as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date, or to the extent they are specific or related or Black Elk and (b) no event has occurred and is continuing which constitutes a Default or Event of Default.