Absence of Credit Events. As measured on the second business day prior to the Closing Date, the aggregate Charge-Offs between the date of this Agreement and such second business day prior to the Closing Date shall not exceed $100 million.
Absence of Credit Events Sample Clauses
Related to Absence of Credit Events
All Credit Events At the time of each Credit Event hereunder:
Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.
Conditions of Credit Extensions The obligations of the Lenders to make Loans hereunder are subject to the satisfaction of the following conditions:
Each Credit Event The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of the Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following conditions:
The Commitments and Credit Extensions 2.01 The Loans.
Commitments and Credit Extensions 2.01 Revolving and Term Loans
Each Extension of Credit The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of the Issuing Lender to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following conditions:
First Credit Event On the Closing Date:
Initial Credit Event Before or concurrently with the initial Credit Event:
Credit Extension Request, etc Subject to Section 2.3.2, the Administrative Agent shall have received a Borrowing Request if Loans are being requested, or an Issuance Request if a Letter of Credit is being requested or extended. Each of the delivery of a Borrowing Request or Issuance Request and the acceptance by the Borrower of the proceeds of such Credit Extension shall constitute a representation and warranty by the Borrower that on the date of such Credit Extension (both immediately before and after giving effect to such Credit Extension and the application of the proceeds thereof) the statements made in Section 5.2.1 are true and correct in all material respects.
