Common use of Any Increasing Advance Clause in Contracts

Any Increasing Advance. The obligation of each Bank to make any Advance which would result in an increase to the aggregate principal amount of the Outstanding Obligations is subject to the following conditions precedent (unless the Requisite Banks, in their sole and absolute discretion, shall agree otherwise): (a) except (i) for representations and warranties which expressly speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and the Co-Borrowers and approved in writing by the Requisite Banks, the representations and warranties contained in Article 4 (other than Sections 4.4(a), 4.6, 4.8, 4.10, 4.17 and 4.18 (but only if Borrower and its Restricted Subsidiaries are diligently engaged in measures that will result in compliance with all Hazardous Materials Laws)) shall be true and correct on and as of the date of the Advance as though made on that date; (b) there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower or any of its Restricted Subsidiaries or any Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect; (c) the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other request for Loan referred to in the second sentence of Section 2.1(b), if applicable); and (d) the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Banks reasonably may require.

Appears in 2 contracts

Samples: 364 Day Loan Agreement (MGM Mirage), 364 Day Loan Agreement (MGM Mirage)

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Any Increasing Advance. The In addition to any applicable conditions precedent set forth elsewhere in this Article 8, and after giving effect to the requested Advances, the obligation of each Bank to make any Advance which would result in an increase to the aggregate principal amount outstanding under the Notes, and the obligation of the Outstanding Obligations Issuing Bank to issue any Letter of Credit, is subject to the following conditions precedent (unless the Requisite Majority Banks, in their sole and absolute discretion, shall agree otherwise): (a) except (i) for representations and warranties which expressly speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and the Co-Borrowers and approved in writing by the Requisite Majority Banks, the representations and warranties contained in Article 4 (other than Sections 4.4(a4.6 (first sentence), 4.6, 4.84.7, 4.10, 4.17 and 4.18 (but only if Borrower and its Restricted Subsidiaries are diligently engaged in measures that will result in compliance with all Hazardous Materials Laws)4.17) shall be true and correct on and as of the date of the Advance as though made on that date; (b) there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower or any of Borrower, its Restricted Subsidiaries or any of their Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect; (c) no Default or Event of Default shall then exist; (d) the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other request for Loan loan referred to in the second sentence of Section 2.1(b), if applicable)) in compliance with Article 2, or the Issuing Bank and the Administrative Agent shall have timely received a Request for Letter of Credit in compliance with Article 2, as applicable; and (de) the Administrative Agent shall have received, in form and substance reasonably satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Banks reasonably may require.

Appears in 1 contract

Samples: Loan Agreement (NGA Holdco, LLC)

Any Increasing Advance. The obligation of each Bank to make any Advance which would result in an increase to the aggregate principal amount of the Outstanding Obligations is subject to the following conditions precedent (unless the Requisite Banks, in their sole and absolute discretion, shall agree otherwise): (a) except (i) for representations and warranties which expressly speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and the Co-Borrowers and approved in writing by the Requisite Banks, the representations and warranties contained in Article 4 (other than Sections 4.4(a), 4.6, 4.8, 4.10, 4.17 and 4.18 (but only if Borrower and its Restricted Subsidiaries are diligently engaged in measures that will result in compliance with all Hazardous Materials Laws)) shall be true and correct on and as of the date of the Advance as though made on that date; (b) other than matters described in Schedule 4.10 or not required as of the Closing Date to be therein described, there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower or any of its Restricted Subsidiaries or any Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect; (c) the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other request for Loan referred to in the second sentence of Section 2.1(b), if applicable); and (d) the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Banks reasonably may require.

Appears in 1 contract

Samples: 364 Day Loan Agreement (MGM Mirage)

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Any Increasing Advance. The In addition to any applicable conditions precedent set forth elsewhere in this Article 8, and after giving effect to the requested Advances, the obligation of each Bank to make any Advance which would result in an increase to the aggregate principal amount outstanding under the Notes, and the obligation of the Outstanding Obligations Issuing Bank to issue each Letter of Credit, is subject to the following conditions precedent (unless the Requisite Majority Banks, in their sole and absolute discretion, shall agree otherwise): (a) except (i) for representations and warranties which expressly speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and the Co-Borrowers and approved in writing by the Requisite Majority Banks, the representations and warranties contained in Article 4 (other than Sections 4.4(a4.5 (first sentence), 4.6, 4.84.7, 4.10, 4.17 and 4.18 (but only if Borrower and its Restricted Subsidiaries are diligently engaged in measures that will result in compliance with all Hazardous Materials Laws)4.17) shall be true and correct on and as of the date of the Advance as though made on that date; (b) there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower Borrower, its Subsidiaries or any of its Restricted Subsidiaries or any their Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect; (c) no Default or Event of Default shall then exist; (d) the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other request for Loan loan referred to in the second sentence of Section 2.1(b), if applicable)) in compliance with Article 2, or the Issuing Bank and the Administrative Agent shall have timely received a Request for Letter of Credit in compliance with Article 2, as applicable; and (de) the Administrative Agent shall have received, in form and substance reasonably satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Banks reasonably may require.

Appears in 1 contract

Samples: Loan Agreement (Eldorado Resorts LLC)

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