CONDITIONS PRECEDENT TO EACH ADVANCE. The obligation of each Bank to make any Advance hereunder shall be subject to the satisfaction of the following conditions precedent (and any request for an Advance shall be deemed a representation and warranty by the Borrower that each of the following conditions precedent have been satisfied): (a) the Borrower has delivered to the Agent and the Banks each of the items required to be delivered pursuant to Section 7; (b) the representations and warranties of the Borrower contained in this Agreement (other than the representations and warranties listed as “Material Adverse Effect”, “Litigation” and “Environmental Matters” on Exhibit B) shall be true and correct on the date of such Advance as though made on and as of such date (except to the extent that any such representation or warranty is expressly stated to have been made as of a specific date, then such representation or warranty shall be true and correct as of such specific date); and (c) no Default or Event of Default exists.
Appears in 4 contracts
Sources: Five Year Credit Agreement (3m Co), Five Year Credit Agreement (3m Co), Five Year Credit Agreement (3m Co)
CONDITIONS PRECEDENT TO EACH ADVANCE. The obligation of each Bank to make any Advance hereunder shall be subject to the satisfaction of the following conditions precedent (and any request for an Advance shall be deemed a representation and warranty by the Borrower that each of the following conditions precedent have has been satisfied):
(a) the Borrower has delivered to the Agent and the Banks each of the items required to be delivered pursuant to Section 7;
(b) the representations and warranties of the Borrower contained in this Agreement (other than the representations and warranties listed as “Material Adverse Effect”, “Litigation” and “Environmental Matters” on Exhibit B) shall be true and correct on the date of such Advance as though made on and as of such date (except to the extent that any such representation or warranty is expressly stated to have been made as of a specific date, then such representation or warranty shall be true and correct as of such specific date); and
(c) no Default or Event of Default exists.
Appears in 3 contracts
Sources: 364 Day Credit Agreement (3m Co), 364 Day Credit Agreement (3m Co), Five Year Credit Agreement (3m Co)
CONDITIONS PRECEDENT TO EACH ADVANCE. The obligation of each Bank to make any Advance hereunder each advance of the Loans shall be subject to the satisfaction of the following conditions precedent on any Increased Amount Date (and any request for an Advance shall be deemed a representation and warranty by the Borrower that each of the following conditions precedent have been satisfiedif applicable):
(a1) the Borrower has delivered to the Agent All conditions of Section 4.01 shall have been and the Banks each remain satisfied as of the items required to be delivered pursuant to Section 7date of such advance;
(b2) No Default or Event of Default shall have occurred and be continuing as of the date of the advance or would result from the making of such advance;
(3) Each of the representations and warranties of the Borrower contained in this Agreement (and in each of the other than the representations and warranties listed as “Material Adverse Effect”, “Litigation” and “Environmental Matters” on Exhibit B) Loan Documents shall be true and correct on in all material respects as of the date of such Advance as though made on and as the advance (or in the case of such date (except to the extent that any such representation or warranty that is expressly stated qualified as to have been made as of a specific date“materiality”, then such representation “Material Adverse Change” or warranty similar language, shall be true and correct in all respects after giving effect to such qualification), except for representations and warranties which are expressly stated to relate to a specific earlier date, in which case such representations and warranties were true and correct in all material respects as of such specific earlier date); and
(c4) no Default or Event of Default existsAdministrative Agent shall have received a request for an advance in accordance with Section 2.03.
Appears in 2 contracts
Sources: Term Loan Agreement (Avalonbay Communities Inc), Term Loan Agreement (Avalonbay Communities Inc)
CONDITIONS PRECEDENT TO EACH ADVANCE. The obligation of each Bank the Lender to make any Advance hereunder shall be (including the initial Advance) is subject to the satisfaction further conditions that:
(a) The Borrower shall have delivered to the Lender a Funding Request in compliance with Article II;
(b) On the date such Advance is to be made and after giving effect to such Advance, the following shall be true and correct:
(i) the representations and warranties of the following conditions precedent Borrower set forth in Article III and in the other Loan Documents are true and correct in all material respects as if made on such date (except for representations and any request for an Advance warranties expressly made as of a specified date, which shall be true as of such date);
(ii) no Default has occurred and is continuing and no Event of Default exists or will result from such Advance; and
(iii) all of the Loan Documents are in full force and effect. The Borrower’s submission to the Lender of a Funding Request shall be deemed to be a representation and warranty by the Borrower that each of the following conditions precedent have been satisfied):
(a) the Borrower has delivered to the Agent and the Banks each of the items required to be delivered pursuant to Section 7;
(b) the representations and warranties of the Borrower contained statements set forth in this Agreement (other than the representations and warranties listed as “Material Adverse Effect”, “Litigation” and “Environmental Matters” on Exhibit BSection 7.2(b) shall be true and correct on the date of such Advance as though made on and as of such date (except to the extent that any such representation or warranty is expressly stated to have been made as of a specific date, then such representation or warranty shall be true and correct as of the date of such specific date); and
(c) no Default or Event of Default existsnotice.
Appears in 1 contract
Sources: Loan Agreement (Seneca Gaming Corp)