Common use of Documents Required for Subsequent Disbursements Clause in Contracts

Documents Required for Subsequent Disbursements. At the time of, and as a condition to, any disbursement of any part of the Loan to be made by the Bank subsequent to the Closing, the Bank may require the Borrower to deliver to the Bank a certificate, dated the date on which any such disbursement is to be made, signed by the president or a vice president of the Borrower, and to the effect that (A) As of the date thereof, no Event of Default has occurred and is continuing, and no event has occurred and is continuing that, but for the giving of notice or passage of time or both, would be an Event of Default; (B) No material adverse change has occurred in the business prospects, financial condition, or results of operations of the Borrower or any Subsidiary since the date of the Financial Statements; and (C) Each of the representations and warranties contained in Section 5.01 is true and correct in all respects as if made on and as of the date of such disbursement (except to the extent that such representation and warranties are made only as of a specified date).

Documents Required for Subsequent Disbursements. At the time of, and as a condition to, any disbursement of any part of the Loan Loans to be made by the Bank Lender subsequent to the Closing, the Bank Lender may require the Borrower to deliver to the Bank Lender a certificate, dated the date on which any such disbursement is to be made, signed by the president or a vice president of the Borrower, and to the effect that: (Aa) As of the date thereof, no Event of Default has occurred and is continuing, and no event has occurred and is continuing that, but for the giving of notice or passage of time or both, would be an Event of Default; (Bb) No material adverse change has occurred in the business prospects, financial condition, or results of operations of the Borrower or any Subsidiary since the date of the Financial Statements; and (Cc) Each of the representations and warranties contained in Section 5.01 Article 5 is true and correct in all respects as if made on and as of the date of such disbursement (except unless it relates to the extent that such representation and warranties are made only as of a specified specific date).