Common use of Blocked Amounts Clause in Contracts

Blocked Amounts. If the respective Credit Event is to occur before the Merger Closing Date, the Borrower shall have furnished the Administrative Agent reasonably detailed calculations of the Blocked Amount on such date (after giving effect to any Credit Events and extensions of credit under the First Lien Credit Agreement, and the payments to be made with the proceeds thereof on such date), showing the allocation thereof to the Bridge Loan Blocked Amount, the B-1 Blocked Amount and the B-2 Blocked Amount, and shall certify that the Commitments (after any reductions thereto on such date) and the unutilized commitments under the First Lien Credit Agreement after giving effect to any reductions thereto on such date shall equal or exceed the Bridge Loan Blocked Amount, the B-1 Blocked Amount or the B-2 Blocked Amount, as the case may be. The acceptance of the benefits of each Credit Event shall constitute a representation and warranty by Holdings and the Borrower to the Administrative Agent and each of the Lenders that all the conditions specified in Section 6 (with respect to Credit Events on the Initial Borrowing Date) and in this Section 7 (with respect to Credit Events after the Initial Borrowing Date and applicable to such Credit Event are satisfied as of that time. All of the Notes, certificates, legal opinions and other documents and papers referred to in Section 6 and in this Section 7, unless otherwise specified, shall be delivered to the Administrative Agent at the Notice Office for the account of each of the Lenders and, except for the Notes, in sufficient counterparts or copies for each of the Lenders and shall be in form and substance reasonably satisfactory to the Administrative Agent. Upon the Administrative Agent’s good faith determination that the conditions specified in this Section 6 or 7, as the case may be, have been met, then the Credit Events requested at that time shall occur, regardless of any subsequent determination that one or more of the conditions thereto had not been met (although the occurrence of the respective Credit Event shall not release Holdings or the Borrower from any liability for failure to satisfy one or more of the applicable conditions contained in Section 6 or 7, as the case may be).