Common use of ADVANCES UNDER THE LOAN Clause in Contracts

ADVANCES UNDER THE LOAN. The Lender shall not be obligated to make any advance of the Loan to the Borrower unless: (a) All representations and warranties of the Borrower contained in this Agreement or the Note shall be true in all material respects on and as of the date of each advance of the Loan. (b) The Borrower and each Subsidiary shall have performed in all material respects all their agreements and obligations required by the Financing Documents. (c) No adverse change shall have occurred in the condition (financial or otherwise) of the Borrower and its Subsidiaries, taken as a whole, or in the business, properties, assets, liabilities or prospects of the Borrower and its Subsidiaries, taken as a whole, since the date of this Agreement. (d) No Default or event which, with the giving of notice or passage of time (or both), would constitute a Default under the terms of this Agreement shall have occurred.

ADVANCES UNDER THE LOAN. The Lender shall not be obligated to make any advance of the Loan to the Borrower unlessunless in each instance, at the time of each advance: (a) All representations and warranties of the Borrower contained in this Agreement or the Note shall be true in all material respects on and as of the date of each advance of the Loan. (b) The Borrower and each Subsidiary shall have performed in all material respects all their agreements and obligations required by the Financing Documents. (c) No adverse change shall have occurred in the Borrower's or any Subsidiary's condition (financial or otherwise) of the Borrower and its Subsidiaries, taken as a whole), or in the business, properties, assets, liabilities liabilities, prospects, or prospects management of the Borrower and its Subsidiaries, taken as a whole, or any Subsidiary since the date of this Agreement. (d) No Default or event which, with the giving of notice or passage of time (or both), would constitute a Default under the terms of this Agreement shall have occurred. (e) All other matters incidental to the Loan shall be satisfactory to the Lender.

ADVANCES UNDER THE LOAN. The Lender shall not be obligated to make any ----------------------- advance of the Loan to the Borrower unless: (a) All representations and warranties of the Borrower contained in this Agreement or the Note shall be true in all material respects on and as of the date of each advance of the Loan. (b) The Borrower and each Subsidiary shall have performed in all material respects all their agreements and obligations required by the Financing Documents. (c) No adverse change shall have occurred in the condition (financial or otherwise) of the Borrower and its Subsidiaries, taken as a whole, or in the business, properties, assets, liabilities or prospects of the Borrower and its Subsidiaries, taken as a whole, since the date of this Agreement. (d) No Default or event which, with the giving of notice or passage of time (or both), would constitute a Default under the terms of this Agreement shall have occurred.

ADVANCES UNDER THE LOAN. The Lender shall not be obligated to make any advance of the Loan to the Borrower unless: (a) All representations and warranties of the Borrower contained in this Agreement or the Note shall be true in all material respects on and as of the date of each advance of the Loan. (b) The Borrower and each Subsidiary shall have performed in all material respects all their agreements and obligations required by the Financing Documents. (c) No adverse change shall have occurred in the condition (financial or otherwise) of the Borrower and its Subsidiaries, taken as a whole, or in the business, properties, assets, liabilities or prospects of the Borrower and its Subsidiaries, taken as a whole, since the date of this Agreement. (d) No Default or event which, with the giving of notice or passage of time (or both), would constitute a Default default under the terms of this Agreement shall have occurred.