Common use of Conditions Precedent to all Drawdowns Clause in Contracts

Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances under the Credit Facility will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the Lenders: (a) the appropriate Notice of Drawdown, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.2; (b) no Event of Default or Default will have occurred and be continuing; and (c) subject to Section 12.2, each of the representations and warranties set out in Article 12 (other than in Section 12.1(j) which will not be restated and that made in Section 12.1(n) which will be restated as of the date referred to therein) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance.

Appears in 1 contract

Sources: Bridge Credit Agreement (Harvest Energy Trust)

Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances under the any Credit Facility will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the LendersLenders under such Credit Facility: (a) the appropriate Notice of Drawdown, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.2; (b) no Event of Default or Default will have occurred and be continuing; and; (c) subject to Section 12.213.2, each of the representations and warranties set out in Article 12 13 (other than in Section 12.1(j13.1(j) which will not be restated and that made in Section 12.1(n13.1(n) which will be restated as of the date referred to therein) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 will have been provided by the Borrower and the other provisions of Section 6.3, if applicable, will have been complied with.

Appears in 1 contract

Sources: Credit Agreement (Harvest Energy Trust)