Common use of General conditions precedent Clause in Contracts

General conditions precedent. The obligation of the Bank to make the Loan shall be subject to the further condition that, at the time of the giving of the Drawdown Notice , and at the time of the making of the Loan: 10.2.1 the representations and warranties contained in clauses 8.1 and 8.2 are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and 10.2.2 no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 3 contracts

Sources: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

General conditions precedent. The obligation of the Bank to make the Loan shall be subject to the further condition that, at the time of the giving of the Drawdown Notice Notice, and at the time of the making of the Loan: 10.2.1 the representations and warranties contained in clauses 8.1 and 8.2 are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and 10.2.2 no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 2 contracts

Sources: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

General conditions precedent. The obligation of the Bank to make advance the Loan shall be subject to the further condition conditions that, at the time of the giving of the Drawdown Notice Notice, and at the time of the making of the Loan: 10.2.1 9.2.1 the representations and warranties contained in clauses 8.1 7.1, 7.2 and 8.2 7.3(b) are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and 10.2.2 9.2.2 no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 2 contracts

Sources: Loan Agreement (Capital Maritime & Trading Corp.), Loan Agreement (Capital Maritime & Trading Corp.)

General conditions precedent. The obligation of the Bank to make the Loan available shall be subject to the further condition conditions that, at the time of the giving of the Drawdown Notice Notice, and at the time of the making of the Loan: 10.2.1 9.2.1 the representations and warranties contained in (i) clauses 8.1 7.1, 7.2 and 8.2 7.3(b) and (ii) clause 4 of each Corporate Guarantee, are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and 10.2.2 9.2.2 no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 2 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

General conditions precedent. The obligation of the each Bank to make the Loan its Commitment available shall be subject to the further condition conditions that, at the time of the giving of the Drawdown Notice , and at on the time of the making of the LoanDrawdown Date: 10.2.1 (a) the representations and warranties contained in clauses 8.1 7.1, 7.2 and 8.2 7.3 are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and 10.2.2 (b) no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 1 contract

Sources: Loan Agreement (Golar LNG LTD)

General conditions precedent. The obligation of the Bank Banks to make the Loan shall be subject to the further condition conditions that, at the time of the giving of the Drawdown Notice Notice, and at the time of the making drawing of the Loan: 10.2.1 9.3.1 the representations and warranties contained in (i) clauses 8.1 7.1, 7.2 and 8.2 7.3, and (ii) clauses 4.1, 4.2 and 4.3 of each Owner’s Guarantee are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and 10.2.2 9.3.2 no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 1 contract

Sources: Facility Agreement (Aries Maritime Transport LTD)

General conditions precedent. The obligation of the Bank to make advance the Loan shall be subject to the further condition that, at the time of the giving of the Drawdown Notice , and at the time of the making of the Loan: 10.2.1 9.2.1 the representations and warranties contained in (i) clauses 8.1 7.1 and 8.2 7.2 and (ii) clauses 4.1 and 4.2 of the Corporate Guarantee, are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and 10.2.2 9.2.2 no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 1 contract

Sources: Loan Agreement (Navios Maritime Holdings Inc.)

General conditions precedent. The obligation of the Bank Banks to make advance the Loan shall be subject to the further condition conditions that, at the time of the giving of the Drawdown Notice Notice, and at the time of the making of the Loan: 10.2.1 9.2.1 the representations and warranties contained in (a) clauses 8.1 7.1, 7.2 and 8.2 7.3(b) and (b) clause 4 of each Corporate Guarantee, are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and 10.2.2 9.2.2 no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 1 contract

Sources: Loan Agreement (Golden Energy Marine Corp.)

General conditions precedent. The obligation of the Bank to make advance the Loan shall be subject to the further condition that, at the time of the giving of the Drawdown Notice Notice, and at the time of the making of the Loan: 10.2.1 9.2.1 the representations and warranties contained in clauses 8.1 7.1, 7.2 and 8.2 7.3(b) are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and 10.2.2 9.2.2 no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

General conditions precedent. The obligation of the Bank to make the Loan shall be subject to the further condition conditions that, at the time of the giving of the Drawdown Notice Notice, and at the time of the making of the Loan: 10.2.1 9.2.1 the representations and warranties contained in clauses 8.1 7.1 (and 8.2 so that the representation and warranty in clause 7.1.9 shall for this purpose refer to the then latest Audited Financial Statements delivered to the Bank under clause 8.1.5), 7.2 and 7.3(b) are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and 10.2.2 9.2.2 no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 1 contract

Sources: Loan Agreement (B Plus H Ocean Carriers LTD)

General conditions precedent. The obligation of the Bank to make advance the Loan shall be subject to the further condition that, at the time of the giving of the Drawdown Notice Notice, and at the time of the making of the Loan: 10.2.1 9.2.1 the representations and warranties contained in (a) clauses 8.1 7.1, 7.2 and 8.2 7.3(b) and (b) clause 4 of each Transaction Guarantee, are true and correct on and as of each such time as if each was is made with respect to the facts and circumstances existing at such time; and 10.2.2 9.2.2 no Default shall have occurred and be continuing or would result from the making of the Loan.

Appears in 1 contract

Sources: Loan Agreement (NewLead Holdings Ltd.)