Subsequent Loans. The obligation of Lenders to make subsequent Loans to Borrower hereunder shall not become effective until after the date on which conditions in Section 5.01(b), (e), (j), (m) and (n) hereof are satisfied (or waived in accordance with Section 10.08 hereof). Notwithstanding the foregoing, the obligations of Lenders to make Loans shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section 10.08 hereof) at or prior to 3:00 p.m., New York City time, on the date of any such Loan. Each Loan shall be deemed to constitute a representation and warranty by Borrower on the date thereof as to the matters specified in Article IV hereof.
Appears in 3 contracts
Sources: Participation and Loan and Security Agreement (K-Sea Tranportation Partners Lp), Participation and Loan and Security Agreement (K-Sea Tranportation Partners Lp), Participation and Loan and Security Agreement (K-Sea Transportation Partners Lp)