Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing made by the Issuing Bank or a Lender pursuant to Section 2.03 and a Swing Line Advance made by a Lender pursuant to Section 2.20) on the occasion of each Borrowing (including the Initial Extension of Credit), and the obligation of the Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal: (a) The following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Borrower of the proceeds of such Advance shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance such statements are true): (i) the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and (ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and (b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 5 contracts
Sources: Credit Agreement (Cracker Barrel Old Country Store, Inc), Credit Agreement (Cracker Barrel Old Country Store, Inc), Credit Agreement (Cracker Barrel Old Country Store, Inc)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Revolving Credit Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the each Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
renewal (a) The the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, Notice of Swing Line Borrowing or Notice of Issuance or Notice of Renewal and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(i) the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and
(ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 4 contracts
Sources: Credit Agreement (Esterline Technologies Corp), Credit Agreement (Esterline Technologies Corp), Credit Agreement (Esterline Technologies Corp)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Revolving Credit Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
(a) The renewal the following statements shall be true (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice of Swing Line Borrowing, Notice of Issuance or Notice of Renewal and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(ia) the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and
(iib) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 3 contracts
Sources: Credit Agreement (Caremark Rx Inc), Credit Agreement (Caremark Rx Inc), Credit Agreement (Caremark Rx Inc)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing Credit Extension made by the Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Revolving Credit Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of CreditCredit ), and the obligation of the Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
renewal (a) The the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, Notice of Swing Line Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(i) the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and
(ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 3 contracts
Sources: Credit Agreement (CBRL Group Inc), Credit Agreement (CBRL Group Inc), Credit Agreement (Cracker Barrel Old Country Store, Inc)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the an Issuing Bank or a Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the each Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or date of issuance or renewal:
(a) The renewal the following statements shall be true (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice of Swing Line Borrowing, Notice of Issuance or Notice of Renewal and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(ia) the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in except to the case of extent any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty itself is true and qualified by “materiality”, “Material Adverse Effect” or a similar qualifier, in which case it shall be correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewalan earlier date, in which case as of such specific earlier date; and
(iib) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 3 contracts
Sources: Credit Agreement (Alliance Resource Partners Lp), Credit Agreement (Alliance Holdings GP, L.P.), Credit Agreement (Alliance Resource Partners Lp)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the an Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Revolving Credit Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the an Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
renewal (a) The the following statements shall be true (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice of Swing Line Borrowing, Notice of Issuance or Notice of Renewal and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(i) the representations and warranties contained in each Loan Document are true and correct in all material respects (orprovided, in the case of any representation or warranty that is those representations and warranties which are already qualified by as to materiality or as to Material Adverse Effect, such representation or warranty is Effect shall be true and correct in all respectsrespects (after giving effect to such qualification therein)) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and;
(ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom;
(iii) [Reserved]; and
(biv) The Administrative Agent shall have received after giving effect to such Borrowing, the applicable notice as described Borrower is in compliance, on a Pro Forma Basis, with the covenants (including restrictions on liens and debt) set forth in each of the Related Documents and all other documents evidencing Debt incurred pursuant to Section 3.02(a5.02(b)(i)(C).;
Appears in 2 contracts
Sources: Credit Agreement (Steel Dynamics Inc), Credit Agreement (Steel Dynamics Inc)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the an Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Revolving Credit Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the each Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower BRW to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
renewal (a) The the following statements shall be true (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice of Swing Line Borrowing, Notice of Issuance or Notice of Renewal and the acceptance by the Borrower BRW of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower BRW, on its behalf and on behalf of BCSI, that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(i) the representations and warranties contained in each Loan Document (except to the extent made by or relating to BCI or any Subsidiary of BCI) are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and
(ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 2 contracts
Sources: Credit Agreement (Broadwing Communications Inc), Credit Agreement (Broadwing Inc)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the an Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 and a Swing Line Advance made by a Lender pursuant to Section 2.202.03(d)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the an Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line BorrowingCredit, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
(a) The renewal the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and Notice of Issuance and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(i) the representations and warranties contained in each Loan Document (other than (x) the representation and warranty set forth in Section 4.01(f)(i) and (y) the representation and warranty set forth in 60 Section 4.01(g)(ii)) are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and
(ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 1 contract
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the an Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Revolving Credit Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the each Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line BorrowingCredit, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
(a) The , the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, Notice of Swing Line Borrowing or Notice of Issuance or Notice of Renewal and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(i) the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; , and
(ii) no Event of Default, and no Default under Section 6.01(a) or (s), has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 1 contract
Sources: First Lien Credit Agreement (Landrys Restaurants Inc)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the an Issuing Bank or a Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Lender pursuant to Section 2.200) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the each Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or date of issuance or renewal:
(a) The renewal the following statements shall be true (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice of Swing Line Borrowing, Notice of Issuance or Notice of Renewal and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(ia) the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in except to the case of extent any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty itself is true and qualified by “materiality”, “Material Adverse Effect” or a similar qualifier, in which case it shall be correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewalan earlier date, in which case as of such specific earlier date; and
(iib) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 1 contract
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the an Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 and a Swing Line Advance made by a Lender pursuant to Section 2.202.03(d)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the an Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line BorrowingCredit, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
(a) The renewal the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and Notice of Issuance and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(i) the representations and warranties contained in each Loan Document (other than (x) the representation and warranty set forth in Section 4.01(f)(i) and (y) the representation and warranty set forth in Section 4.01(g)(ii)) are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and
(ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 1 contract
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the Issuing Bank or a Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
(a) The renewal the following statements shall be true (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice of Swing Line Borrowing, Notice of Issuance or Notice of Renewal and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(i) ): the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and
(ii) and no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 1 contract
Sources: Credit Agreement (Caremark Rx Inc)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the Issuing Bank or a Working Capital Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Working Capital Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line BorrowingCredit, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
renewal (a) The the following statements shall be true (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice of Swing Line Borrowing, Notice of Issuance or Notice of Renewal and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(i) the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and
(ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
and (b) The the Administrative Agent shall have received such other approvals, opinions or documents consistent with the applicable notice requirements of this Agreement as any Appropriate Lender through the Administrative Agent may reasonably request. Notwithstanding the foregoing, no Advance shall be made and no Letter of Credit shall be issued on and after the date of the initial Borrowing hereunder unless and until the Administrative Agent shall be satisfied that (i) the Secured Parties have a perfected first and subsisting Lien on the property described in Section 3.02(aPart I of Schedule 4.01(w) and 4.01(x), (ii) all action that the Administrative Agent deems necessary or desirable in order to create such Lien has been taken, (iii) all requested consents, estoppel letters, assignments and other agreements as the Administrative Agent may reasonably request have been delivered to the Administrative Agent, (iv) local counsel opinions in form and substance satisfactory to the Administrative Agent shall have been delivered to the Administrative Agent and (v) all other action that the Administrative Agent deems necessary or desirable in connection with such Mortgages (including, without limitation, in respect of title insurance) has been taken.
Appears in 1 contract
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 and a Swing Line Advance made by a Lender pursuant to Section 2.202.03(c)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line BorrowingCredit, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
renewal (a) The the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true)::
(i) the representations and warranties of each Loan Party contained in each Loan Document are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and
(ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
and (b) The the Administrative Agent shall have received such other approvals, opinions or documents as the applicable notice as described in Section 3.02(a)Required Lender through the Administrative Agent may reasonably request.
Appears in 1 contract
Sources: Credit Agreement (TLC Vision Corp)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the an Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Revolving Credit Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the each Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
renewal (a) The the following statements shall be true (and each the Administrative Agent shall have received for the account of such Lender or the Issuing Bank a certificate signed by a duly authorized officer of the giving of the applicable Notice of Borrowing and the acceptance by the Borrower of the proceeds of such Advance shall constitute a representation and warranty by the Borrower that both on Borrower, dated the date of such notice and on the date of such Advance such statements are true):Borrowing or issuance or renewal, stating that:
(i) the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; and
(ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
and (b) The the Administrative Agent shall have received such other approvals, opinions or documents as any Appropriate Lender through the applicable notice as described in Section 3.02(a).Administrative Agent may reasonably request. 60 ' 55
Appears in 1 contract
Sources: Credit Agreement (Pacificare Health Systems Inc /De/)
Conditions Precedent to Each Borrowing and Issuance and Renewal. The obligation of each Appropriate Lender to make an Advance (other than an L/C Borrowing a Letter of Credit Advance made by the an Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03 2.03(c) and a Swing Line Advance made by a Revolving Credit Lender pursuant to Section 2.202.02(b)) on the occasion of each Borrowing (including the Initial Extension of Creditinitial Borrowing), and the obligation of the each Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrower to request a Swing Line BorrowingCredit, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal:
renewal (a) The the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, Notice of Swing Line Borrowing or Notice of Issuance or Notice of Renewal and the acceptance by the Borrower of the proceeds of such Advance Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Advance Borrowing or issuance or renewal such statements are true):
(i) the representations and warranties contained in each Loan Document are true and correct in all material respects (or, in the case of any representation or warranty that is qualified by materiality or Material Adverse Effect, such representation or warranty is true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or issuance or renewal and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their express terms, refer to a specific date other than the date of such Borrowing or issuance or renewal, in which case as of such specific date; , and
(ii) no Event of Default, and no Default under Section 6.01(a) or (f), has occurred and is continuing, or would result from such Borrowing or issuance or renewal or from the application of the proceeds therefrom; and
(b) The Administrative Agent shall have received the applicable notice as described in Section 3.02(a).
Appears in 1 contract