Common use of Any Advance Clause in Contracts

Any Advance. The obligation of each Lender to make any Advance, ----------- and the obligation of the Issuing Lender to issue a Letter of Credit, is subject to the following conditions precedent (unless the Requisite Lenders, in their sole and absolute discretion, shall agree otherwise): (a) except (i) for representations and warranties which expressly ------ speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 4 (other than Sections ---------- 4.4, 4.6, 4.10, 4.17 and 4.18 (but only if Borrower and its Subsidiaries are diligently engaged in measures that will result in compliance with all Hazardous Materials Laws)) shall be true and correct on and as of the date of the Advance as though made on that date; (b) other than matters described in Schedule 4.10 or not required as of the Closing Date to be therein described, there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower or any of its Subsidiaries or any Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect; (c) the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other request for Loan referred to in the second sentence of Section 2.1(b), if applicable) or the Issuing Lender shall have received a Request for Letter of Credit, as the case may be, in compliance with Article 2; and (d) the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Lenders reasonably may require.

Appears in 1 contract

Sources: Loan Agreement (MGM Grand Inc)

Any Advance. The obligation of each Lender to make any Advance, ----------- and the obligation of the Issuing Lender to issue a Letter of Credit, is subject to the following conditions precedent (unless the Requisite Lenders, in their sole and absolute discretion, shall agree otherwise): (a) except EXCEPT (i) for representations and warranties which expressly ------ speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 4 (other than OTHER THAN Sections ---------- 4.4, 4.6, 4.10, 4.17 and 4.18 (but only if Borrower and its Subsidiaries are diligently engaged in measures that will result in compliance with all Hazardous Materials Laws)) shall be true and correct on and as of the date of the Advance as though made on that date; (b) other than matters described in Schedule 4.10 or not required as of the Closing Date to be therein described, there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower or any of its Subsidiaries or any Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect; (c) the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other request for Loan referred to in the second sentence of Section 2.1(b), if applicable) or the Issuing Lender shall have received a Request for Letter of Credit, as the case may be, in compliance with Article 2; and (d) the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Lenders reasonably may require.

Appears in 1 contract

Sources: Loan Agreement (MGM Mirage)

Any Advance. The obligation of each Lender Bank to make any ----------- Advance, ----------- and the obligation of the Issuing Lender Bank to issue a Letter of Credit, is subject to the following conditions precedent (unless the Requisite LendersBanks, in their sole and absolute discretion, shall agree otherwise): ): (a) except (i) for representations and warranties which ------ expressly ------ speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and approved in writing by the Requisite LendersBanks, the representations and warranties contained in Article 4 (other --------- ----- than Sections ---------- 4.44.4(a), 4.64.6 (first sentence), 4.10, 4.17 and 4.18 (but ---- ------ --- ---- ---- ---- only if Borrower and its Subsidiaries are is diligently engaged in measures that will result in compliance with all Hazardous Materials Laws)) shall be true and correct on and as of the date of the Advance as though made on that date; ; (b) other than matters described in Schedule 4.10 or not ------------- required as of the Closing Date to be therein described, there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower or any of its Restricted Subsidiaries or any Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect; ; (c) the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other --------- request for Loan referred to in the second sentence of Section 2.1(b), ------ if applicable) or the Issuing Lender Bank shall have received a Request for Letter of Credit, as the case may be, in compliance with Article 2; and (d) the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Lenders reasonably may require.---------

Appears in 1 contract

Sources: Loan Agreement (MGM Grand Inc)

Any Advance. The obligation of each Lender to make any Advance, ----------- and the obligation of the Issuing Lender to issue a Letter of Credit, Advance is subject to the following conditions precedent (unless the Requisite Lenders or, in any case where the approval of all of the Lenders is required pursuant to Section 11.2, all of the Lenders, in their sole and absolute discretion, shall agree otherwise): (a) except (i) for representations and warranties which expressly ------ speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower Borrowers and approved in writing by the Requisite Lenders, the representations representa tions and warranties contained in Article 4 (other than Sections ---------- 4.4, 4.64.6 (first sentence), 4.10, 4.17 4.10 and 4.18 (but only if Borrower and its Subsidiaries are diligently engaged in measures that will result in compliance with all Hazardous Materials Laws)4.17) shall be true and correct in all material respects on and as of the date of the Advance as though made on that date; (b) no circumstance or event shall have occurred that constitutes a Material Adverse Effect since the Closing Date; (c) other than matters described in Schedule 4.10 or not required as of the Closing Date to be therein described, there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower Borrowers or any of its their Subsidiaries or any Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect; (cd) the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other request for Loan referred to in the -58- 65 second sentence of Section 2.1(b), if applicable) or the Issuing Lender shall have received a Request for Letter of Credit, as the case may be, in compliance with Article 2; and (de) the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Lenders reasonably may require.

Appears in 1 contract

Sources: Loan Agreement (Safeskin Corp)