Representations and Warranties of El Paso with Respect to the New Assets. El Paso makes the following representations and warranties with respect to the Specified Garnet Assets and the Specified Diamond Assets indicated on Schedule 3.2(b) of the Diamond LLC Agreement as being contributed on the Closing Date to the Class A Shareholder as of the Closing Date and, except for, or with respect to, (i) any acquisition of New Assets by Garnet or Amethyst during a Garnet Replacement Period or (ii) any acquisition of New Assets by Diamond, Diamond Holdings, Aquamarine or Peridot during a Diamond Replacement Period, El Paso shall be deemed to make to the Class A Shareholder as of the date of the acquisition by purchase, contribution or exchange of each New Asset the following representations and warranties with respect to such New Asset at the time of, and immediately after, giving effect to the acquisition of such New Asset; provided that the breach of, or inaccuracy in, such representations and warranties shall not constitute a Default under any of the Transaction Documents but shall be subject to the indemnity contained in Section 6.1.
