Common use of Initial and Subsequent Loans Clause in Contracts

Initial and Subsequent Loans. The obligation of the Lenders to make Loans to any Obligor upon the occasion of each Borrowing hereunder (including the Initial Funding) is subject to the further conditions precedent that, as of the date of such Borrowing and after giving effect thereto: (i) no Default shall have occurred and be continuing and (ii) the representations and warranties made by the Company in Article VII and by each Designated Subsidiary in its respective Notice of Designation of a Designated Subsidiary shall be true on and as of the date of the making of such Borrowing with the same force and effect as if made on and as of such date and following such new Borrowing, except to the extent such representations and warranties are expressly limited to an earlier date or the Majority Lenders have expressly consented in writing to the contrary. Each request for a borrowing by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company otherwise notifies the Administrative Agent prior to the date of and immediately following such Borrowing as of the date thereof).

Appears in 3 contracts

Sources: Credit Agreement (Eex Corp), Credit Agreement (Enserch Exploration Inc /Tx/), Credit Agreement (Enserch Exploration Inc)

Initial and Subsequent Loans. The obligation of any Bank or the Lenders Swingline Bank to make Loans any Loan to any Obligor the Company upon the occasion of each any Borrowing hereunder (including the Initial Fundinginitial Borrowing) is subject to the further conditions precedent that, as of both immediately prior to the date making of such Borrowing Loan and also after giving effect thereto: thereto and to the intended use thereof: (ia) no Default shall have occurred and be continuing and continuing; and (iib) the representations and warranties made by the Company in Article VII Section 7 hereof, and by in each Designated Subsidiary in its respective Notice of Designation of a Designated Subsidiary the other Basic Documents, shall be true and complete on and as of the date of the making of such Borrowing Loan with the same force and effect as if made on and as of such date and following (or, if any such new Borrowingrepresentation or warranty is expressly stated to have been made as of a specific date, except to the extent as of such representations and warranties are expressly limited to an earlier date or the Majority Lenders have expressly consented in writing to the contraryspecific date). Each request for a borrowing notice of Borrowing by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company otherwise notifies the Administrative Agent prior to the date of and immediately following such Borrowing Borrowing, as of the date thereofof such Borrowing).

Appears in 2 contracts

Sources: Credit Agreement (Enhance Financial Services Group Inc), Credit Agreement (Enhance Financial Services Group Inc)

Initial and Subsequent Loans. The obligation of the Lenders to make Loans any Loan to any Obligor the Company upon the occasion of each Borrowing borrowing hereunder (including the Initial Fundinginitial borrowing) is subject to the further conditions precedent that, as of both immediately prior to the date making of such Borrowing Loan and also after giving effect thereto: thereto and to the intended use thereof: (ia) no Default shall have occurred and be continuing and continuing; and (iib) the representations and warranties made by the Company in Article VII Section 7 hereof, and by each Designated Subsidiary Obligor in its respective Notice each of Designation of the other Loan Documents to which it is a Designated Subsidiary party, shall be true and complete on and as of the date of the making of such Borrowing Loan with the same force and effect as if made on and as of such date and following (or, if any such new Borrowingrepresentation or warranty is expressly stated to have been made as of a specific date, except to the extent as of such representations and warranties are expressly limited to an earlier date or the Majority Lenders have expressly consented in writing to the contraryspecific date). Each request for a notice of borrowing by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company otherwise notifies the Administrative Agent prior to the date of and immediately following such Borrowing borrowing, as of the date thereofof such borrowing).

Appears in 2 contracts

Sources: Credit Agreement (Frontiervision Holdings Capital Corp), Credit Agreement (Frontiervision Capital Corp)

Initial and Subsequent Loans. The obligation of the Lenders Banks to make Loans any Loan to any Obligor the Company upon the occasion of each Borrowing borrowing hereunder (including the Initial Fundinginitial borrowing) is subject to the further conditions precedent that, as of both immediately prior to the date making of such Borrowing Loan and also after giving effect thereto: thereto and to the intended use thereof: (ia) no Default shall have occurred and be continuing and continuing; and (iib) the representations and warranties made by the Company in Article VII Section 7 hereof, and by in each Designated Subsidiary in its respective Notice of Designation of a Designated Subsidiary the other Loan Documents, shall be true and complete in all material respects on and as of the date of the making of such Borrowing Loan with the same force and effect as if made on and as of such date and following (or, if any such new Borrowingrepresentation or warranty is expressly stated to have been made as of a specific date, except to the extent as of such representations and warranties are expressly limited to an earlier date or the Majority Lenders have expressly consented in writing to the contraryspecific date). Each request for a notice of borrowing by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company otherwise notifies the Administrative Agent prior to the date of and immediately following such Borrowing borrowing, as of the date thereofof such borrowing).

Appears in 1 contract

Sources: Credit Agreement (Fidelity National Financial Inc /De/)

Initial and Subsequent Loans. The obligation of the Lenders to make Loans any Loan to any Obligor the Company upon the occasion of each Borrowing borrowing hereunder (including the Initial Fundinginitial borrowing) is subject to the further conditions precedent that, as of both immediately prior to the date making of such Borrowing Loan and also after giving effect thereto: thereto and to the intended use thereof: (ia) no Default shall have occurred and be continuing and continuing; and (iib) the representations and warranties made by the Company in Article VII and by each Designated Subsidiary Section 7 hereof (other than, after the date hereof, in its respective Notice the last sentence of Designation of a Designated Subsidiary Section 7.02(a)) shall be true and complete on and as of the date of the making of such Borrowing Loan with the same force and effect as if made on and as of such date and following (or, if any such new Borrowingrepresentation or warranty is expressly stated to have been made as of a specific date, except to the extent as of such representations and warranties are expressly limited to an earlier date or the Majority Lenders have expressly consented in writing to the contraryspecific date). Each request for a notice of borrowing by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company otherwise notifies the Administrative Agent prior to the date of and immediately following such Borrowing borrowing, as of the date thereofof such borrowing).

Appears in 1 contract

Sources: Credit Agreement (Allmerica Financial Corp)

Initial and Subsequent Loans. The obligation of the Lenders to make Loans to any Obligor the Borrower upon the occasion of each Borrowing borrowing hereunder (including the Initial Funding) is subject to the further conditions precedent that, as of the date of such Borrowing Loans and after giving effect thereto: (i) no Default shall have occurred and be continuing continuing; (ii) no Material Adverse Effect shall have occurred; and (iiiii) the representations and warranties made by the Company Borrower in Article VII and by each Designated Subsidiary in its respective Notice of Designation of a Designated Subsidiary the compliance certificates shall be true on and as of the date of the making of such Borrowing Loans with the same force and effect as if made on and as of such date and following such new Borrowingborrowing, except to the extent such representations and warranties are expressly limited to an earlier date or the Majority Lenders have may expressly consented consent in writing to the contrary. Each request for a borrowing by the Company Borrower hereunder shall constitute a certification by the Company Borrower to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company Borrower otherwise notifies the Administrative Agent prior to the date of such borrowing and immediately following such Borrowing borrowing as of the date thereof).. 39

Appears in 1 contract

Sources: Revolving Credit Agreement (Rowan Companies Inc)

Initial and Subsequent Loans. The obligation of the Lenders to make Loans any Loan to any Obligor the Borrower upon the occasion of each Borrowing borrowing hereunder (including the Initial Fundinginitial borrowing) is subject to the further conditions precedent that, as of both immediately prior to the date making of such Borrowing Loan and also after giving effect theretothereto and to the intended use thereof: Credit Agreement ---------------- (i) no Default shall have occurred and be continuing and (iia) the representations and warranties made by the Company Borrower in Article VII Section 8, and by each Designated Subsidiary Obligor in its respective Notice each of Designation of the other Loan Documents to which it is a Designated Subsidiary party, shall be true and complete on and as of the date of the making of such Borrowing Loan with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); and (b) no Default shall have occurred and following such new Borrowing, except to the extent such representations and warranties are expressly limited to an earlier date or the Majority Lenders have expressly consented in writing to the contrarybe continuing. Each request for a notice of borrowing by the Company Borrower hereunder shall constitute a certification by the Company Borrower to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company Borrower otherwise notifies the Administrative Agent prior to the date of and immediately following such Borrowing borrowing, as of the date thereofof such borrowing).

Appears in 1 contract

Sources: Credit Agreement (International Telecommunication Data Systems Inc)

Initial and Subsequent Loans. The obligation of the Lenders Lender to make Loans to any Obligor the Borrower upon the occasion of each Borrowing borrowing hereunder (including the Initial Funding) is subject to the further conditions precedent that, as of the date of such Borrowing Loans and after giving effect thereto: (i) no Default shall have occurred and be continuing continuing; (ii) no Material Adverse Effect shall have occurred; and (iiiii) the representations and warranties made by the Company Borrower in Article VII and by each Designated Subsidiary in its respective Notice of Designation of a Designated Subsidiary the Security Instruments shall be true on and as of the date of the making of such Borrowing Loans with the same force and effect as if made on and as of such date and following such new Borrowingborrowing, except to the extent such representations and warranties are expressly limited to an earlier date or the Majority Lenders have Lender may expressly consented consent in writing to the contrary. Each request for a borrowing by the Company Borrower hereunder shall constitute a certification by the Company Borrower to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company Borrower otherwise notifies the Administrative Agent Lender prior to the date of and immediately following such Borrowing borrowing as of the date thereof).

Appears in 1 contract

Sources: Credit Agreement (Edge Petroleum Corp)

Initial and Subsequent Loans. The obligation of the Lenders any Bank to make Loans any Loan to any Obligor the Company upon the occasion of each Borrowing any borrowing hereunder (including the Initial Fundinginitial borrowing) is subject to the further conditions precedent that, as of both immediately prior to the date making of such Borrowing Loan and also after giving effect theretothereto and to the intended use thereof: Credit Agreement ---------------- (ia) no Default shall have occurred and be continuing and continuing; and (iib) the representations and warranties made by the Company in Article VII Section 7 hereof, and by in each Designated Subsidiary in its respective Notice of Designation of a Designated Subsidiary the other Basic Documents, shall be true and complete on and as of the date of the making of such Borrowing Loan with the same force and effect as if made on and as of such date and following (or, if any such new Borrowingrepresentation or warranty is expressly stated to have been made as of a specific date, except to the extent as of such representations and warranties are expressly limited to an earlier date or the Majority Lenders have expressly consented in writing to the contraryspecific date). Each request for a notice of borrowing by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company otherwise notifies the Administrative Agent prior to the date of and immediately following such Borrowing borrowing, as of the date thereofof such borrowing).

Appears in 1 contract

Sources: Credit Agreement (Capital Re Corp)

Initial and Subsequent Loans. The obligation of the Lenders to make Loans to any Obligor the Borrower upon the occasion of each Borrowing borrowing hereunder (including the Initial Funding) is subject to the further conditions precedent that, as of the date of such Borrowing Loans and after giving effect thereto: (i) no Default shall have occurred and be continuing continuing; (ii) no Material Adverse Effect shall have occurred; and (iiiii) the representations and warranties made by the Company Borrower in Article VII and by each Designated Subsidiary in its respective Notice of Designation of a Designated Subsidiary the Security Instruments shall be true on and as of the date of the making of such Borrowing Loans with the same force and effect as if made on and as of such date and following such new Borrowingborrowing, except to the extent such representations and warranties are expressly limited to an earlier date or the Majority Lenders have may expressly consented consent in writing to the contrary. Each request for a borrowing by the Company Borrower hereunder shall constitute a certification by the Company Borrower to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company Borrower otherwise notifies the Administrative Agent prior to the date of and immediately following such Borrowing borrowing as of the date thereof).

Appears in 1 contract

Sources: Senior Revolving Credit Agreement (Transcoastal Marine Services Inc)

Initial and Subsequent Loans. The obligation of the Lenders Banks to ----------------------------- make Loans any Loan to any Obligor the Company upon the occasion of each Borrowing borrowing hereunder (including the Initial Fundinginitial borrowing) is subject to the further conditions precedent that, as of both immediately prior to the date making of such Borrowing Loan and also after giving effect theretothereto and to the intended use thereof: (ia) no Default shall have occurred and be continuing continuing; and (iib) the representations and warranties made by the Company in Article VII Section 7 hereof and by each Designated Subsidiary in its respective Notice of Designation of a Designated Subsidiary the other Basic Documents shall be true and complete on and as of the date of the making of such Borrowing Loan with the same force and effect as if made on and as of such date and following (or, if any such new Borrowingrepresentation or warranty is expressly stated to have been made as of a specific date, except to the extent as of such representations and warranties are expressly limited to an earlier date or the Majority Lenders have expressly consented in writing to the contraryspecific date). Each request for a notice of borrowing by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company otherwise notifies the Administrative Agent prior to the date of and immediately following such Borrowing borrowing, as of the date thereofof such borrowing).

Appears in 1 contract

Sources: Credit Agreement (Provident Companies Inc /De/)