Common use of The Credit Event Clause in Contracts

The Credit Event. The obligation of each Lender to make its Loan on the occasion of the Borrowing is subject to the satisfaction of the following conditions: (a) The representations and warranties of each Loan Party in any Loan Document and in any report, certificate, financial statement or other document furnished pursuant to or in connection with any Loan Document shall be true and correct in all material respects on and as of the Borrowing Date. (b) There has been no change, development or event that has or could reasonably be expected to have a Material Adverse Effect. (c) At the time of and immediately after giving effect to the Borrowing, no Default shall have occurred and be continuing. (d) The Administrative Agent shall have received a Borrowing Notice in accordance with Section 2.03 hereof with respect to the Borrowing. The Borrowing shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (a) through (c) of this Section.

The Credit Event. The obligation of each Lender to make its Loan on the occasion of the Borrowing is subject to the satisfaction of the following conditions: (a) The representations and warranties of each Loan Party in any Loan Document and in any report, certificate, financial statement or other document furnished pursuant to or in connection with any Loan Document shall be true and correct in all material respects on and as of the date of the Borrowing DateNotice. (b) There has been no change, development or event that has or could reasonably be expected to have a Material Adverse Effect. (c) At the time of and immediately after giving effect to the Borrowing, no Default shall have occurred and be continuing. (d) The Administrative Agent shall have received a Borrowing Notice in accordance with Section 2.03 hereof with respect to the Borrowing. The Borrowing shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (a) through (c) of this Section.