Common use of Auction Assignment and Assumption Clause in Contracts

Auction Assignment and Assumption. Each Auction Notice and Auction Assignment and Assumption shall contain the following representations and warranties by the Borrower: (i) No Default or Event of Default has occurred and is continuing, or would result from this Auction. (ii) The conditions set forth in Section 2.18 of the Credit Agreement have each been satisfied on and as of the date hereof, except to the extent that such conditions refer to conditions that must be satisfied as of a future date, in which case the Borrower must terminate any Auction if it fails to satisfy one of more of the conditions which are required to be met at the time which otherwise would have been the time of purchase of Term Loans pursuant to an Auction.

Auction Assignment and Assumption. Each Auction Notice and Auction Assignment and Assumption shall contain the following representations representation and warranties warranty by the Borrower: (i) No Default or Event of Default has occurred and is continuing, or would result from this Auction. (ii) The Borrower that the express conditions set forth in Section 2.18 2.21(a)(i)-(viii) of the Credit Agreement have each been satisfied or waived on and as of the date hereof, except to the extent that such conditions refer to conditions that must be satisfied as of a future date, in which case the Borrower must terminate any Auction if it fails to satisfy (or obtain a waiver of) one of more of the conditions which are required to be met or waived at the time which otherwise would have been the time of purchase of Term Loans pursuant to an Auction.

Auction Assignment and Assumption. Each Auction Notice and Auction Assignment and Assumption shall contain the following representations representation and warranties warranty by the Borrower: (i) No Default or Event of Default has occurred and is continuing, or would result from this Auction. (ii) The Borrower that the express conditions set forth in Section 2.18 1.14(a)(i)-(viii) of the Credit Agreement have each been satisfied or waived on and as of the date hereofof the Auction Notice, except to the extent that such conditions refer to conditions that must be satisfied as of a future date, in which case the Borrower must terminate any Auction if it fails to satisfy (or obtain a waiver of) one of more of the conditions which are required to be met or waived at the time which otherwise would have been the time of purchase of Term Loans pursuant to an Auction.