Common use of Conditions Precedent to Drawdown Clause in Contracts

Conditions Precedent to Drawdown. The Lender will only be obliged to comply with Clause 5 (Drawing) if on the date of the Drawdown Request and on the proposed Drawdown Date: a. no Event of Default is continuing or would result from the proposed Loan and, in the case of any other Loan, no Default is continuing or would result from the proposed Loan; and b. the Repeating Representations to be made by the Borrower are true in all material respects.