Any Increasing Advance Sample Clauses
The 'Any Increasing Advance' clause defines the terms under which a borrower may request additional funds beyond the original loan amount, typically in a revolving credit or loan facility. This clause outlines the process for requesting an increase, such as notice requirements and lender approval, and may specify limits or conditions for such advances. Its core function is to provide flexibility for the borrower to access more capital as needed, while ensuring the lender retains control over the total exposure and risk.
Any Increasing Advance. The obligation of each Lender to make any Advance, and the obligation of the Issuing Lender to issue Letters of Credit, which would result in an increase in the outstanding principal amount of the Outstanding Obligations owed to that Lender, 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 the Co-Borrowers and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 4 (other than Sections 4.4(a), 4.6 and 4.16) shall be true and correct on and as of the date of the Advance as though made on that date;
(b) 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(c) of the Existing Loan Agreement, if applicable) or the Issuing Lender shall have received a Letter of Credit Application, as the case may be, in compliance with Article 2;
(c) 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; and
(d) the amounts paid pursuant to the provisions of Section 3.1(h) hereof shall not result in the reduction of any Lender’s Commitment, but nonetheless shall not be available for re-borrowing through subsequent Advances or otherwise, absent the written consent of Requisite Lenders.
Any Increasing Advance. The obligation of each Bank to make any Advance which would result in an increase to the aggregate principal amount of the Outstanding Obligations is subject to the following conditions precedent (unless the Requisite Banks, 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 the Co-Borrowers and approved in writing by the Requisite Banks, the representations and warranties contained in Article 4 (other than Sections 4.4(a), 4.6, 4.8, 4.10, 4.17 and 4.18 (but only if Borrower and its Restricted 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) 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); 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 Banks reasonably may require.
Any Increasing Advance. In addition to any applicable conditions precedent set forth elsewhere in this Article 10, and after giving effect to the requested Advances, the obligation of each Lender to make any Advance which would increase the principal amount outstanding under the Loan Documents, and the obligation of the Issuing Lender to issue each Letter of Credit, is subject to the following conditions precedent (unless the Requisite Lenders, in their sole and absolute discretion, agree otherwise):
(a) except as disclosed by Borrower and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 5 (other than Sections 5.7 (first sentence) and 5.13) 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 5.13 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 Property before any Governmental Agency that constitutes a Material Adverse Effect;
(c) no Default or Event of Default shall then exist;
(d) 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) in compliance with Article 2, or the Issuing Lender and the Administrative Agent shall have timely received a Request for Letter of Credit in compliance with Article 2, as applicable; and
(e) the Administrative Agent shall have received, in form and substance reasonably satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent reasonably may require.
Any Increasing Advance. In addition to any applicable conditions ---------------------- precedent set forth elsewhere in this Article 10, and after giving effect to the requested Advances, the obligation of each Lender to make any Advance which would increase the principal amount outstanding under the Loan Documents, and the obligation of the Issuing Lender to issue each Letter of Credit, is subject to the following conditions precedent (unless the Requisite Lenders, in their sole and absolute discretion, agree otherwise):
(a) except as disclosed by Borrower and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 5 (other than Sections 5.7 (first sentence) and 5.13) 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 5.13 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 Property before any Governmental Agency that constitutes a Material Adverse Effect;
(c) no Default or Event of Default shall then exist;