Any Advance. The obligations of the Banks to make any Advance are subject to the following conditions precedent: (a) the Administrative Agent shall have received a Loan Notice; (b) the representations and warranties contained in Article IV (other than the representations and warranties contained in Sections 4.4(a) and 4.18) shall be true and correct in all material respects on and as of the date of the Loan as though made on and as of that date (except that the financial statements referred to in Section 4.5(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(b) and the financial statements referred to in Section 4.5(b) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(a)); it being understood and agreed that any representation or warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects; (c) [Intentionally Omitted]; (d) at and after giving effect to such Advance, no Default or Event of Default shall have occurred and be continuing; and (e) after giving effect to such Loan or Letter of Credit, the Total Outstandings shall be less than the Borrowing Base Availability as set forth on the Borrowing Base Certificate provided pursuant to Section 2.8. Each Loan Notice submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section have been satisfied on and as of the date of the Loan requested thereby.
Appears in 2 contracts
Samples: Revolving Credit Agreement (WCI Communities, Inc.), Revolving Credit Agreement (WCI Communities, Inc.)
Any Advance. The obligations of the Banks to make any Advance are subject to the following conditions precedent:
(a) the Administrative Agent shall have received a Loan Notice;
(b) the representations and warranties contained in Article IV (other than the representations and warranties contained in Sections 4.4(a) ), 4.18 and 4.184.19 and, if the Borrower holds an Investment Grade Credit Rating at such time, Section 4.7(b)) shall be true and correct in all material respects on and as of the date of the Loan as though made on and as of that date (except that the financial statements referred to in Section 4.5(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(b) and the financial statements referred to in Section 4.5(b) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(a), and the Borrowing Base Certificate referred to in Section 4.7(b) shall be deemed to refer to the most recent Borrowing Base Certificate delivered pursuant to Section 2.8); it being understood and agreed that any representation or warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects;
(c) [Intentionally Omitted];the Administrative Agent shall have received such other information relating to any matters which are the subject of Section 8.2(b) or the compliance by Borrower with this Agreement as may reasonably be requested by the Administrative Agent on behalf of a Bank; and
(d) at and after giving effect to such Advance, no Default or Event of Default shall have occurred and be continuing; and
(e) after giving effect to such Loan or Letter of Credit, the Total Outstandings shall be less than the Borrowing Base Availability as set forth on the Borrowing Base Certificate provided pursuant to Section 2.8. Each Loan Notice submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section have been satisfied on and as of the date of the Loan requested thereby.
Appears in 2 contracts
Samples: Revolving Loan Agreement (Kb Home), Revolving Loan Agreement (Kb Home)
Any Advance. The obligations of the Banks to make any Advance are subject to the following conditions precedent:
(a) the Administrative Agent shall have received a Loan Notice;
(b) the representations and warranties contained in Article IV (other than the representations and warranties contained in Sections 4.4(a) ), 4.6, 4.9, 4.18 and 4.184.19) shall be true and correct in all material respects on and as of the date of the Loan as though made on and as of that date (except that the financial statements referred to in Section 4.5(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(b) and the financial statements referred to in Section 4.5(b) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(a)); it being understood ) and agreed no event or circumstance that any representation or warranty that is qualified as to materiality or “constitutes a Material Adverse Effect” Effect shall have occurred and be true and correct in all respectscontinuing since the date as of which the most recent Compliance Certificate delivered pursuant to Section 7.2 is dated;
(c) [Intentionally Omitted];the Administrative Agent shall have received such other information relating to any matters which are the subject of Section 8.2(b) or the compliance by Borrower with this Agreement as may reasonably be requested by the Administrative Agent on behalf of a Bank; and
(d) at and after giving effect to such Advance, no Default or Event of Default shall have occurred and be continuing; and
(e) after giving effect to such Loan or Letter of Credit, the Total Outstandings shall be less than the Borrowing Base Availability as set forth on the Borrowing Base Certificate provided pursuant to Section 2.8. Each Loan Notice (or Swing Line Loan Notice) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section have been satisfied on and as of the date of the Loan requested thereby.
Appears in 1 contract
Samples: Revolving Loan Agreement (Kb Home)
Any Advance. The obligations of the Banks to make any Advance are subject to the following conditions precedent:
(a) the Administrative Agent shall have received a Loan Notice;
(b) the representations and warranties contained in Article IV (other than the representations and warranties contained in Sections 4.4(a) ), 4.6, 4.9, 4.18 and 4.184.19) shall be true and correct in all material respects on and as of the date of the Loan as though made on and as of that date (except that the financial statements referred to in Section 4.5(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(b) and the financial statements referred to in Section 4.5(b) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(a)); it being understood ) and agreed no event or circumstance that any representation or warranty that is qualified as to materiality or “constitutes a Material Adverse Effect” Effect shall be true and correct in all respectshave occurred since the Closing Date;
(c) [Intentionally Omitted];the Administrative Agent shall have received such other information relating to any matters which are the subject of Section 8.2(b) or the compliance by Borrower with this Agreement as may reasonably be requested by the Administrative Agent on behalf of a Bank; and
(d) at and after giving effect to such Advance, no Default or Event of Default shall have occurred and be continuing; and
(e) after giving effect to such Loan or Letter of Credit, the Total Outstandings shall be less than the Borrowing Base Availability as set forth on the Borrowing Base Certificate provided pursuant to Section 2.8. Each Loan Notice (or Swing Line Loan Notice) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section have been satisfied on and as of the date of the Loan requested thereby.
Appears in 1 contract
Samples: Revolving Loan Agreement (Kb Home)
Any Advance. The obligations of the Banks to make any Advance are subject to the following conditions precedent:
(a) the Administrative Agent shall have received a Loan Notice;
(b) the representations and warranties contained in Article IV (other than the representations and warranties contained in Sections 4.4(a) ), 4.18 and 4.184.19) shall be true and correct in all material respects on and as of the date of the Loan as though made on and as of that date (except that the financial statements referred to in Section 4.5(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(b) and the financial statements referred to in Section 4.5(b) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(a)); it being understood and agreed that any representation or warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects;
(c) [Intentionally Omitted];the Administrative Agent shall have received such other information relating to any matters which are the subject of Section 8.2(b) or the compliance by Borrower with this Agreement as may reasonably be requested by the Administrative Agent on behalf of a Bank; and
(d) at and after giving effect to such Advance, no Default or Event of Default shall have occurred and be continuing; and
(e) after giving effect to such Loan or Letter of Credit, the Total Outstandings shall be less than the Borrowing Base Availability as set forth on the Borrowing Base Certificate provided pursuant to Section 2.8. Each Loan Notice submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section have been satisfied on and as of the date of the Loan requested thereby.
Appears in 1 contract
Samples: Revolving Loan Agreement (Kb Home)
Any Advance. The obligations of the Banks to make any Advance are subject to the following conditions precedent:
(a) the Administrative Agent shall have received a Loan Notice;
(b) the representations and warranties contained in Article IV (other than the representations and warranties contained in Sections 4.4(a) ), 4.18 and 4.184.19) shall be true and correct in all material respects on and as of the date of the Loan as though made on and as of that date (except that the financial statements referred to in Section 4.5(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(b) and the financial statements referred to in Section 4.5(b) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(a), and the Borrowing Base Certificate referred to in Section 4.7(b) shall be deemed to refer to the most recent Borrowing Base Certificate delivered pursuant to Section 2.8); it being understood and agreed that any representation or warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects;
(c) [Intentionally Omitted];the Administrative Agent shall have received such other information relating to any matters which are the subject of Section 8.2(b) or the compliance by Borrower with this Agreement as may reasonably be requested by the Administrative Agent on behalf of a Bank; and
(d) at and after giving effect to such Advance, no Default or Event of Default shall have occurred and be continuing; and
(e) after giving effect to such Loan or Letter of Credit, the Total Outstandings shall be less than the Borrowing Base Availability as set forth on the Borrowing Base Certificate provided pursuant to Section 2.8. Each Loan Notice submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section have been satisfied on and as of the date of the Loan requested thereby.
Appears in 1 contract
Samples: Revolving Loan Agreement (Kb Home)
Any Advance. The obligations of the Banks to make any Advance after the Restatement Date are subject to the following conditions precedent:
(a) the Administrative Agent shall have received a Loan Notice;
(b) the representations and warranties contained in Article IV (other than the representations and warranties contained in Sections 4.4(a) ), 4.18 and 4.184.19 and, if the Borrower holds an Investment Grade Credit Rating at such time, Section 4.7(b)) shall be true and correct in all material respects on and as of the date of the Loan as though made on and as of that date (except that the financial statements referred to in Section 4.5(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(b) ), and the financial statements Borrowing Base Certificate referred to in Section 4.5(b4.7(b) shall be deemed to refer to the most recent statements furnished Borrowing Base Certificate delivered pursuant to Section 7.1(a)2.8); it being understood and agreed that any representation or warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects;
(c) [Intentionally Omitted];the Administrative Agent shall have received such other information relating to any matters which are the subject of Section 8.2(b) or the compliance by Borrower with this Agreement as may reasonably be requested by the Administrative Agent on behalf of a Bank; and
(d) at and after giving effect to such Advance, no Default or Event of Default shall have occurred and be continuing; and
(e) after giving effect to such Loan or Letter of Credit, the Total Outstandings shall be less than the Borrowing Base Availability as set forth on the Borrowing Base Certificate provided pursuant to Section 2.8. Each Loan Notice submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section have been satisfied on and as of the date of the Loan requested thereby.
Appears in 1 contract
Samples: Revolving Loan Agreement (Kb Home)