Additional Conditions Precedent to All Advances and Letters of Credit Sample Clauses

This clause sets out extra requirements that must be satisfied before the lender is obligated to provide any further loans or issue letters of credit under the agreement. Typically, these conditions might include the borrower maintaining certain financial ratios, providing updated documentation, or ensuring that no default has occurred. By imposing these additional prerequisites, the clause protects the lender by ensuring that advances or letters of credit are only made when the borrower's financial and legal status remains satisfactory, thereby reducing the lender's risk.
Additional Conditions Precedent to All Advances and Letters of Credit. ▇▇▇▇▇ Fargo’s obligation to make any Advance (including the initial Advance) or issue any Letter of Credit shall be subject to the further additional conditions: (a) that the representations and warranties described in Exhibit D are correct on the date of the Advance or the issuance of the Letter of Credit, except to the extent that such representations and warranties relate solely to an earlier date; and (b) that no event has occurred and is continuing, or would result from the requested Advance or issuance of the Letter of Credit that would result in an Event of Default.
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Additional Conditions Precedent to All Advances and Letters of Credit. ▇▇▇▇▇ Fargo’s obligation to make any Advance (including the initial Advance) or issue any Letter of Credit shall be subject to the further additional conditions: (a) that the representations and warranties described in Exhibit D are correct on the date of the Advance or the issuance of the Letter of Credit, except to the extent that such representations and warranties relate solely to an earlier date; (b) that no Event of Default exists or would result from the requested Advance or issuance of the Letter of Credit; and (c) if the date of such Advance or issuance of such Letter of Credit is on or after the Lockbox Transfer Date, ▇▇▇▇▇ Fargo shall have received (executed by Company and in form and content acceptable to ▇▇▇▇▇ Fargo), the Master Agreement for Treasury Management Services, the Acceptance of Services, and the related Lockbox and Collection Account Service Description.
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Additional Conditions Precedent to All Advances and Letters of Credit. The obligation of the Lenders to make each Advance and to issue, increase or extend each Letter of Credit shall be subject to the further condition precedent that the Agent shall have received at or prior to the date of such Advance or the date of issuance, increase or extension of such Letter of Credit, each dated on or before the date of the Advance or Letter of Credit and each in form and substance satisfactory to the Lenders: (a) a certificate (dated the date of such Advance or Letter of Credit) of an officer of the Borrower and the Guarantors, respectively, certifying that: (i) The representations and warranties contained in Section 10 below and in Section 7 of the Guaranty are correct on and as of the date such Advance is made or Letter of Credit is issued, increased or extended as though made on and as of such date except those expressly made as of another date; and (ii) No event has occurred and is continuing, or would result from such Advance, or from the issuance, increase or extension of such Letter of Credit, which constitutes an Event of Default or with the passing of time or the giving of notice would constitute an Event of Default. (b) payment by the Borrower of the fees required to be paid on or before such date by Section 9.1 below; and (c) any required Borrowing Base Report.
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Additional Conditions Precedent to All Advances and Letters of Credit. W▇▇▇▇ Fargo's obligation to make any Advance (including the initial Advance) or issue any Letter of Credit shall be subject to the further additional conditions: (a) that the representations and warranties described in Exhibit D are correct on the date of the Advance or the issuance of the Letter of Credit, except to the extent that such representations and warranties relate solely to an earlier date; (b) that no event has occurred and is continuing, or would result from the requested Advance or issuance of the Letter of Credit that would result in an Event of Default; and (c) W▇▇▇▇ Fargo has conducted a collateral exam, audit and inspection during the six (6) month period preceding the date of the requested Advance or issuance of the Letter of Credit.
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Additional Conditions Precedent to All Advances and Letters of Credit. The obligation of Lender to make any Advances or issue any Letter of Credit requested hereunder at any time shall be subject to the following additional conditions precedent: (a) In addition to the other conditions precedent to any extension of credit set forth in this Agreement, the provision of any Advance or issuance of any Letter of Credit shall be subject to the satisfaction of each of the following additional conditions precedent, as determined by Lender: (i) Lender has received such collateral examinations as Lender may determine necessary from time to time, evidence that Borrower has established a reporting mechanism related to the location of Borrower’s Equipment and a review of Borrower’s and its Subsidiaries’ Books and verification of Borrower’s representations and warranties to Lender, each of which must be satisfactory to Lender; (ii) Lender has received such other information, documents or reporting as Lender may reasonably request.
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Related to Additional Conditions Precedent to All Advances and Letters of Credit

  • Conditions Precedent to All Loans and Letters of Credit In addition to satisfaction or waiver of the conditions precedent contained in Section 6.1., the obligations of (i) the Lenders to make any Loans and (ii) the Issuing Banks to issue, extend or increase any Letters of Credit are each subject to the further conditions precedent that: (a) no Default or Event of Default shall exist as of the date of the making of such Loan or date of issuance, extension or increase of such Letter of Credit or would exist immediately after giving effect thereto, and no violation of the limits described in Section 2.16. would occur after giving effect thereto; (b) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects (except in the case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true and correct in all respects) on and as of the date of the making of such Loan or date of issuance, extension or increase of such Letter of Credit with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (except in the case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true and correct in all respects) on and as of such earlier date) and (c) in the case of the borrowing of Revolving Loans, the Administrative Agent shall have received a timely Notice of Borrowing, in the case of a Swingline Loan, the Swingline Lender shall have received a timely Notice of Swingline Borrowing, and in the case of the issuance, extension or increase of a Letter of Credit the applicable Issuing Bank and the Administrative Agent shall have received a timely request for the issuance, extension or increase of such Letter of Credit. Each Credit Event shall constitute a certification by the Borrower to the effect set forth in the preceding sentence (both as of the date of the giving of notice relating to such Credit Event and, unless the Borrower otherwise notifies the Administrative Agent prior to the date of such Credit Event, as of the date of the occurrence of such Credit Event). In addition, the Borrower shall be deemed to have represented to the Administrative Agent and the Lenders at the time any Loan is made or any Letter of Credit is issued, extended or increased that all conditions to the making of such Loan or issuing, extending or increasing of such Letter of Credit contained in this Article VI. have been satisfied. Unless set forth in writing to the contrary, the making of its initial Loan by a Lender shall constitute a certification by such Lender to the Administrative Agent for the benefit of the Administrative Agent and the Lenders that the conditions precedent for initial Loans set forth in Sections 6.1. and 6.2. that have not previously been waived by the Lenders in accordance with the terms of this Agreement have been satisfied.

  • Conditions Precedent to Loans and Letters of Credit 32 Section 3.1 Conditions To Effectiveness.................................................32 Section 3.2 Each Credit Event...........................................................33 Section 3.3 Delivery of Documents.......................................................34

  • Conditions Precedent to all Extensions of Credit The obligation of the Lender Group (or any member thereof) to make any Revolving Loans hereunder (or to extend any other credit hereunder) at any time shall be subject to the following conditions precedent: (a) the representations and warranties of each Loan Party or its Subsidiaries contained in this Agreement or in the other Loan Documents shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the date of such extension of credit, as though made on and as of such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) as of such earlier date); and (b) no Default or Event of Default shall have occurred and be continuing on the date of such extension of credit, nor shall either result from the making thereof.

  • Additional Conditions to Letters of Credit If the issuance of a Letter of Credit is requested, all conditions set forth in Section 2.3 shall have been satisfied.

  • Conditions Precedent to Each Loan and Letter of Credit The obligation of each Lender on any date (including the Closing Date) to make any Loan and of each L/C Issuer on any date (including the Closing Date) to Issue any Letter of Credit is subject to the satisfaction of each of the following conditions precedent: