Conditions Precedent to Each Credit Event. (a) The occurrence of each Credit Event (including the initial Borrowing and the Term Loan Borrowing) is subject to the further condition that Borrower shall have delivered to Administrative Agent the Notice of Borrowing, Notice of Term Loan Conversion or Notice of Interest Period Selection, as the case may be, for such Credit Event in accordance with this Agreement. (b) On the date each Borrowing is to occur and after giving effect to such Borrowing, the following shall be true and correct: (i) The representations and warranties of each Credit Party set forth in Section 4.1 and in the other Credit Documents are true and correct in all material respects as if made on such date (except for representations and warranties expressly made as of a specified date, which shall be true as of such date); and (ii) No Default has occurred and is continuing or will result from such Borrowing. (iii) The submission by Borrower to Administrative Agent of each Notice of Borrowing (other than a Notice of Borrowing for a Revolving Loan Borrowing consisting of Base Rate Loans to be used solely to repay an existing Borrowing) shall be deemed to be a representation and warranty by Borrower that each of the statements set forth above in this Subsection 3.3(b) is true and correct as of the date of such notice.
Appears in 2 contracts
Sources: Credit Agreement (Veritas Software Corp /De/), Credit Agreement (Veritas Software Corp /De/)
Conditions Precedent to Each Credit Event. (a) The occurrence of each Credit Event (including the initial Borrowing and the Facility B Term Loan Borrowing) is subject to the further condition that Borrower shall have delivered to Administrative Agent the Notice of Borrowing, Notice of Term Loan Conversion or Notice of Interest Period Selection, as the case may be, for such Credit Event in accordance with this Agreement.
(b) On the date each Borrowing is to occur and after giving effect to such Borrowing, the following shall be true and correct:
(i) The representations and warranties of each Credit Party Borrower set forth in Section 4.1 Paragraph 4.01 and in the other Credit Documents are true and correct in all material respects as if made on such date (except for representations and warranties expressly made as of a specified date, which shall be true as of such date); and
(ii) No Default has occurred and is continuing or will result from such Borrowing.
(iii) . The submission by Borrower to Administrative Agent of each Notice of Borrowing (other than a Notice of Borrowing for a Revolving Loan Borrowing consisting of Base Rate Loans to be used solely to repay an existing Borrowing) shall be deemed to be a representation and warranty by Borrower that each of the statements set forth above in this Subsection 3.3(bSubparagraph 3.03(b) is true and correct as of the date of such notice.
Appears in 1 contract
Sources: Credit Agreement (Adobe Systems Inc)
Conditions Precedent to Each Credit Event. (a) The occurrence of each Credit Event (including the initial Borrowing and the Term Loan Borrowing) is subject to the further condition that Borrower shall have delivered to Administrative Agent the Notice of Borrowing, Notice of Term Loan Conversion or Notice of Interest Period Selection, as the case may be, for such Credit Event in accordance with this Agreement.
(b) On the date each Borrowing is to occur and after giving effect to such Borrowing, the following shall be true and correct:
: (i) The representations and warranties of each Credit Party Borrower set forth in Section 4.1 Paragraph 4.01 and in the other Credit Documents are true and correct in all material respects as if made on such date (except for representations and warranties expressly made as of a specified date, which shall be true as of such date); and
and (ii) No Default has occurred and is continuing or will result from such Borrowing.
(iii) . The submission by Borrower to Administrative Agent of each Notice of Borrowing (other than a Notice of Borrowing for a Revolving Loan Borrowing consisting of Base Rate Loans to be used solely to repay an existing Borrowing) shall be deemed to be a representation and warranty by Borrower that each of the statements set forth above in this Subsection 3.3(bSubparagraph 3.03(b) is true and correct as of the date of such notice.
Appears in 1 contract
Sources: Credit Agreement (Adobe Systems Inc)
Conditions Precedent to Each Credit Event. (a) The occurrence of each Credit Event (including the initial Borrowing and the Term Loan Borrowing) is subject to the further condition that Borrower shall have delivered to Administrative Agent the Notice of Borrowing, Notice of Term Loan Conversion or Notice of Interest Period Selection, as the case may be, for such Credit Event in accordance with this Agreement.conditions that:
(ba) On the date each Borrowing such Credit Event is to occur and after giving effect to such BorrowingCredit Event, the following shall be true and correct:
(i) The representations and warranties of each Credit Party Borrower set forth in Section 4.1 Article IV and in the other Credit Documents are true and correct in all material respects (except to the extent that such representation and warranty is qualified by materiality, in which case such representation and warranty must be true in all respects) as if made on such date (except for representations and warranties expressly made as of a specified date, which shall be true and correct in all material respects (except to the extent that such representation and warranty is qualified by materiality, in which case such representation and warranty must be true in all respects) as of such date); and;
(ii) No Default has occurred and is continuing or will result from such Borrowing.Credit Event; and
(iii) No material adverse change in the business, assets, liabilities, operations, performance or condition (financial or otherwise) of Borrower has occurred. The submission by Borrower to Administrative Agent Lender of each Notice of Borrowing (other than a Notice of Borrowing for a Revolving Loan Borrowing consisting of Base Rate Loans to be used solely to repay an existing Borrowing) shall be deemed to be a representation and warranty by Borrower that each of the statements set forth above in this Subsection 3.3(bSection 3.2(a) is true and correct as of the date of such noticedocument.
Appears in 1 contract
Sources: Credit Agreement
Conditions Precedent to Each Credit Event. (a) The occurrence of each Credit Event (including the initial Borrowing and the Term Loan Borrowing) is subject to the further condition that conditions that:
(a) Borrower shall have delivered to Administrative Agent the Notice of Borrowing, Notice of Term Loan Conversion or Notice of Interest Period Selection, as the case may be, Borrowing for such Credit Event in accordance with this Agreement.;
(b) On the date each Borrowing such Credit Event is to occur and after giving effect to such BorrowingCredit Event, the following shall be true and correct:
(i) The representations and warranties of each Credit Party Borrower and its Subsidiaries set forth in Section 4.1 Paragraph 4.01 and the representations and warranties of Borrower and its Subsidiaries and Guarantor and its Subsidiaries set forth in the other Credit Documents are true and correct in all material respects as if made on such date (except for representations and warranties expressly made as of a specified date, which shall be true as of such date); and
(ii) No Default or Event of Default has occurred and is continuing or will result from such Borrowing.Credit Event; and
(iiic) On the date such Credit Event is to occur and after giving effect to such Credit Event, all of the Credit Documents are in full force and effect. The submission by Borrower to Administrative Agent of each Notice of Borrowing (other than a Notice of Borrowing for a Revolving Loan Borrowing consisting of Base Rate Loans to be used solely to repay an existing Borrowing) shall be deemed to be a representation and warranty by Borrower that each of the statements set forth above in this Subsection 3.3(b) is true and correct as of the date of such noticethereon as to the above.
Appears in 1 contract
Sources: Credit Agreement (Quantum Corp /De/)