Common use of Conditions Precedent to Each Issuance Clause in Contracts

Conditions Precedent to Each Issuance. The obligation of any L/C Issuing Bank to issue any Letter of Credit (including the initial issuance) or renew a Letter of Credit shall be subject to the further conditions precedent that (a) the Administrative Agent shall have received a Notice of Issuance in accordance with the requirements hereof and (b) on the date of such issuance the following statements shall be true (and each of the giving of the applicable Notice of Issuance and the acceptance by the Borrower of such Letter of Credit shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or issuance such statements are true): (a) the representations and warranties of each Loan Party contained in each Loan Document are correct in all material respects on and as of such date, before and after giving effect to such issuance as though made on and as of such date, other than any such representations or warranties that, by their terms, refer to a specific date other than the date of such issuance, in which case as of such specific date; and (b) no Default has occurred and is continuing, or would result from such issuance.

Conditions Precedent to Each Issuance. The obligation of any Special L/C Issuing Bank to issue any Special Letter of Credit (including the initial issuance) or renew a Special Letter of Credit shall be subject to the further conditions precedent that (a) the Administrative Agent shall have received a Notice of Issuance in accordance with the requirements hereof and (b) on the date of such issuance the following statements shall be true (and each of the giving of the applicable Notice of Issuance and the acceptance by the Borrower of such Special Letter of Credit shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or issuance such statements are true): (a) the representations and warranties of each Loan Party contained in each Loan Document are correct in all material respects on and as of such date, before and after giving effect to such issuance as though made on and as of such date, other than any such representations or warranties that, by their terms, refer to a specific date other than the date of such issuance, in which case as of such specific date; andand LSP Gen Finance Special L/C Facility Agreement (b) no Default has occurred and is continuing, or would result from such issuance.