Common use of Borrowings and Issuances of Letters of Credit Clause in Contracts

Borrowings and Issuances of Letters of Credit. The obligation of any Lender to make a Loan on the occasion of any Borrowing (other than the obligation of any Lender to make a Refunding Swing Loan), and the obligation of an L/C Issuer to issue (which shall include, for purposes of this Section, any renewal or extension of the term of) any Letter of Credit are each subject to the satisfaction of the following conditions: (a) receipt by the Agent of a Notice of Borrowing as required by Section 2.01 or receipt by the L/C Issuer of a Notice of Issuance as required by Section 2.14(b); (b) solely in the case of a Revolving Borrowing, a Swing Borrowing or issuance of a Letter of Credit the fact that, immediately after such Borrowing or the issuance of such Letter of Credit, as the case may be, the aggregate Revolving Exposure will not exceed the aggregate amount of the Available Revolving Commitments; (c) the fact that, immediately before and after such Borrowing or issuance of a Letter of Credit, as the case may be, no Default shall have occurred and be continuing; and (d) the fact that the representations and warranties of the Obligors contained in the Loan Documents shall be true in all material respects on and as of the date of such Borrowing. Each Borrowing and issuance of a Letter of Credit hereunder shall be deemed to be a representation and warranty by the Borrowers on the date of such Borrowing or issuance of a Letter of Credit, as the case may be, as to the facts specified in clauses (b), (c) and (d) of this Section.

Borrowings and Issuances of Letters of Credit. The obligation of any Lender to make a Loan on the occasion of any Borrowing (other than the obligation of any Lender to make a Refunding Swing Loan), and the obligation of an L/C Issuer to issue (which shall include, for purposes of this Section, any renewal or extension of the term of) any Letter of Credit are each subject to the satisfaction of the following conditions: (a) receipt by the Agent of a Notice of Borrowing as required by Section 2.01 or receipt by the L/C Issuer of a Notice of Issuance as required by Section 2.14(b); (b) solely in the case of a Revolving Borrowing, a Swing Borrowing or issuance of a Letter of Credit the fact that, immediately after such Borrowing or the issuance of such Letter of Credit, as the case may be, the aggregate Revolving Exposure will not exceed the aggregate amount of the Available Revolving Commitments; (c) the fact that, immediately before and after such Borrowing or issuance of a Letter of Credit, as the case may be, no Default shall have occurred and be continuing; and (d) the fact that the representations and warranties of the Obligors contained in the Loan Documents shall be true in all material respects on and as of the date of such Borrowing. Each Borrowing and issuance of a Letter of Credit hereunder shall be deemed to be a representation and warranty by the Borrowers Borrower on the date of such Borrowing or issuance of a Letter of Credit, as the case may be, as to the facts specified in clauses (b), (c) and (d) of this Section.

Borrowings and Issuances of Letters of Credit. The obligation of any Lender to make a Loan on the occasion of any Borrowing (other than the obligation of any Lender to make a Refunding Swing Loan), and the obligation of an L/C Issuer to issue (which shall include, for purposes of this Section, any renewal or extension of the term of) any Letter of Credit are each subject to the satisfaction of the following conditions: (a) receipt by the Agent of a Notice of Borrowing as required by Section 2.01 or receipt by the an L/C Issuer of a Notice of Issuance as required by Section 2.14(b); (b) solely in the case of a Revolving Borrowing, a Swing Borrowing or issuance of a Letter of Credit the fact that, immediately after such Borrowing or the issuance of such Letter of Credit, as the case may be, the aggregate Revolving Exposure will not exceed the aggregate amount of the Available Revolving Commitments; (c) the fact that, immediately before and after such Borrowing or issuance of a Letter of Credit, as the case may be, no Default shall have occurred and be continuing; and; (d) the fact that the representations and warranties of the Obligors contained in the Loan Documents shall be true in all material respects on and as of the date of such Borrowing; and (e) in the case of the borrowing on the Effective Date, the Agent and the Lead Arrangers shall receive payment in full of all fees, expenses and other amounts due and payable hereunder (including (i) interest and fees payable pursuant to Section 3.02(c) and (ii) fees and expenses payable pursuant to Section 10.03) or pursuant to any letter agreement between either Borrower and the Agent or the Lead Arrangers relating to the transactions contemplated by the Loan Documents. Each Borrowing and issuance of a Letter of Credit hereunder shall be deemed to be a representation and warranty by the Borrowers on the date of such Borrowing or issuance of a Letter of Credit, as the case may be, as to the facts specified in clauses (b), (c) and (d) of this Section.

Borrowings and Issuances of Letters of Credit. The obligation of any Lender Bank to make a Loan on the occasion of any Borrowing (other than the obligation of any Lender to make a Refunding Swing Loan), and the obligation of an L/C Issuer Issuing Bank to issue (which shall include, for purposes of this Section, any renewal or extension of renew or extend the term of) any Letter of Credit are each is subject to the satisfaction of the following conditions: (a) the fact that a Closing Date shall have occurred on or before December 31, 1996; (b) receipt by the Agent of a Notice of Borrowing as required by Section 2.01 2.2 or 2.3, or receipt by the L/C Issuer Issuing Bank of a Notice of Issuance as required by Section 2.14(b2.15(b), as the case may be; (bc) solely in the case of a Revolving Borrowing, a Swing Borrowing or issuance of a Letter of Credit the fact that, immediately after such Borrowing or the issuance of such a Letter of Credit, as the case may be, sum of the aggregate Revolving Exposure outstanding amount of the Loans and the aggregate amount of Letter of Credit Liabilities will not exceed the aggregate amount of the Available Revolving Commitments; (cd) the fact that, immediately before and after such Borrowing or issuance of a Letter of Credit, as the case may be, no Default shall have occurred and be continuing; and (de) the fact that the representations and warranties of the Obligors Borrower contained in the Loan Documents this Agreement shall be true in all material respects on and as of the date of such BorrowingBorrowing or issuance of a Letter of Credit. Each Borrowing and issuance of a Letter of Credit hereunder shall be deemed to be a representation and warranty by the Borrowers Borrower on the date of such Borrowing or issuance of a Letter of Credit, as the case may be, as to the facts specified in clauses (bc), (cd) and (de) of this Section.