Common use of Conditions Precedent to Drawdowns Clause in Contracts

Conditions Precedent to Drawdowns. The obligation of the Lenders to make any Drawdown shall be subject to satisfaction of the following conditions precedent on or before the relevant Drawdown Date: (a) the Agent or the Operating Facility Lender, as applicable, shall have received a Notice of Drawdown in respect of such Drawdown in accordance with Section 2.3 if required thereunder; (b) on the relevant Drawdown Date, all representations and warranties contained in the Loan Documents shall be true and correct as if made on such date (except to the extent expressly limited to the Effective Date, in which case they shall be required to be true and correct as of the Effective Date); and (c) no Default or Event of Default shall exist on the relevant Drawdown Date, and no Default or Event of Default shall occur as a result of the making of such Drawdown.

Conditions Precedent to Drawdowns. The obligation of the Lenders to make any Drawdown shall be subject to satisfaction of the following conditions precedent on or before the relevant Drawdown Date: (a) the Agent or the Operating Facility Lender, as applicable, shall have received a Notice of Drawdown in respect of such Drawdown in accordance with Section 2.3 if required thereunderthereunder (provided that the notice periods in Section 2.3 shall be waived for the Term Facility Advance); (b) on the relevant Drawdown Date, all representations and warranties contained in the Loan Documents shall be true and correct in all material respects as if made on such date (except to the extent expressly limited to the Effective Date, in which case they shall be required to be true and correct as of the Effective Date); and (c) no Default or Event of Default shall exist on the relevant Drawdown Date, and no Default or Event of Default shall occur as a result of the making of such Drawdown.