Any Extension of Credit Sample Clauses
The 'Any Extension of Credit' clause defines the terms and conditions under which a lender may provide additional credit or loans to a borrower beyond the original agreement. This clause typically outlines the requirements for approval, such as creditworthiness assessments or compliance with existing covenants, and may specify limits or procedures for requesting further credit. Its core function is to set clear boundaries and processes for extending further financial accommodations, thereby managing risk and ensuring both parties understand the circumstances under which additional credit may be granted.
Any Extension of Credit. In addition to the occurrence of the Effective Date, the obligation of each Lender and any Issuing Lender to make any Extension of Credit, including on the Effective Date, is subject to the following conditions precedent:
(a) the representations and warranties of Borrower contained in Section 5 are true and correct in all material respects as though made on and as of the above date;
(b) no Default or Event of Default has occurred and is continuing, or would result from such proposed Extension of Credit;
(c) Administrative Agent shall have timely received a duly completed Request for Extension of Credit or Letter of Credit Application, as applicable, by Requisite Notice by the Requisite Time therefor; and
Any Extension of Credit. The obligation of each Bank to make any Extension of Credit on any date is also subject to the following conditions precedent:
(a) the representations and warranties of Borrower contained in Section 5 shall be true and correct in all material respects as though made on and as of such date (except to the extent such representations and warranties expressly refer to an earlier date, in which case they shall be true and correct as of such earlier date);
(b) no Default or Event of Default shall have occurred and be continuing, or would result from such proposed Extension of Credit;
(c) the Administrative Agent shall have timely received a duly completed Request for Extension of Credit by Requisite Notice by the Requisite Time therefor; and
(d) no Material Adverse Change shall have occurred since the Closing Date.
Any Extension of Credit. In addition to the occurrence of the Effective Date, the obligation of each Lender and the Issuing Lender to make any Extension of Credit, including on the Effective Date, is subject to the following conditions precedent:
(a) the representations and warranties of Borrower contained in Section 5 are true and correct in all material respects (without duplication of any materiality standards set forth therein) as though made on and as of such date (after giving effect to the proposed Extension of Credit occurring on such date), except to the extent such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and complete on and as of such earlier date);
(b) no Default or Event of Default has occurred and is continuing, or would result from such proposed Extension of Credit;
(c) Administrative Agent shall have timely received a duly completed Request for Extension of Credit or Letter of Credit Application, as applicable, by Requisite Notice by the Requisite Time therefor; and
(d) in the case of an Extension of Credit to be denominated in an Alternative Currency, there shall not have occurred any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which in the reasonable opinion of Administrative Agent or Requisite Revolving Credit (USD) Lenders would make it impracticable for such Extension of Credit to be denominated in the relevant Alternative Currency.
Any Extension of Credit. In addition to the occurrence of the Effective Date, the obligation of each Lender and the Issuing Lender to make any Extension of Credit, including on the Effective Date, is subject to the following conditions precedent:
(a) the representations and warranties of Borrower contained in Section 5 are true and correct in all material respects (without duplication of any materiality standards set forth therein) as though made on and as of such date (after giving effect to the proposed Extension of Credit occurring on such date), except to the extent such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and complete on and as of such earlier date);
(b) no Default or Event of Default has occurred and is continuing, or would result from such proposed Extension of Credit;
(c) Administrative Agent shall have timely received a duly completed Request for Extension of Credit or Letter of Credit Application, as applicable, by Requisite Notice by the Requisite Time therefor; and
(d) in the case of an Extension of Credit to be denominated in an Alternative Currency, such currency remains an Eligible Currency. Each request for an Extension of Credit submitted by the Borrower shall be deemed to be a representation and warranty by the Borrower that the conditions specified in Sections 4.2(a) and (b) have been satisfied on and as of the date of the applicable Extension of Credit.
Any Extension of Credit. In addition to the occurrence of the Effective Date, the obligation of each Lender and the Issuing Lender to make any Extension of Credit, including on the Effective Date, is subject to the following conditions precedent:
(a) the representations and warranties of Borrower contained in Section 5 are true and correct in all material respects as though made on and as of such date (after giving effect to the proposed Extension of Credit occurring on such date);
(b) no Default or Event of Default has occurred and is continuing, or would result from such proposed Extension of Credit;
(c) Administrative Agent shall have timely received a duly completed Request for Extension of Credit or Letter of Credit Application, as applicable, by Requisite Notice by the Requisite Time therefor;
Any Extension of Credit. The obligation of each Bank to make any Extension of Credit is subject to the following conditions precedent:
(a) the representations and warranties of Borrower contained in Section 5 are true and correct in all material respects as though made on and as of the above date (except (i) to the extent that such representations and warranties expressly relate solely to an earlier date and then shall be correct as of such date and (ii) that the representation and warranty set forth in Section 5.3 as to lack of material adverse change is made since the date of the then most recent financial statement delivered pursuant to Section 6.1 (b), before and after giving effect to such Borrowing and to the application of the proceeds therefrom, as though made on and as of such date;
(b) no Default or Event of Default has occurred and is continuing, or would result from such proposed Extension of Credit.
(c) the Agent shall have timely received a duly completed Request for Extension of Credit or Letter of Credit Application, as applicable, by Requisite Notice by the Requisite Time therefor;
Any Extension of Credit. The obligation of each Bank to make any Extension of Credit is subject to the following conditions precedent:
(a) the representations and warranties of Borrower contained in Section 5 are true and correct in all material respects as though made on and as of the above date;
(b) no Default or Event of Default has occurred and is continuing, or would result from such proposed Extension of Credit.
(c) the Administrative Agent shall have timely received a duly completed Request for Extension of Credit or Letter of Credit Application, as applicable, by Requisite Notice by the Requisite Time therefor; and
(d) the Administrative Agent shall have received such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Banks reasonably may require.