Common use of Conditions and Covenants Clause in Contracts

Conditions and Covenants. This Amendment shall become effective only upon satisfaction in full of the following conditions precedent (the first date upon which all such conditions have been satisfied being herein called the "Amendment Effective Date"): (i) The representations and warranties contained in this Amendment and in Section 5 of the Loan and Security Agreement and each other Loan Document shall be correct on and as of the Amendment Effective Date as though made on and as of such date (except where such representations and warranties relate to an earlier date in which case such representations and warranties shall be true and correct as of such earlier date); no Default or Event of Default shall have occurred and be continuing on the Amendment Effective Date or result from this Amendment becoming effective in accordance with its terms. (ii) Foothill shall have received two (2) counterparts of this Amendment, duly executed by New Borrower and Parent. (iii) All legal matters incident to this Amendment shall be satisfactory to Foothill and its counsel.

Appears in 2 contracts

Samples: Loan and Security Agreement (Tekinsight Com Inc), Loan and Security Agreement (Tekinsight Com Inc)

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Conditions and Covenants. This Amendment shall become effective only upon the satisfaction in full of the following conditions precedent (the first date upon which all such conditions have been satisfied being herein called the "Amendment Effective Date"): (ia) The representations and warranties contained in this Amendment and in Section 5 of the Loan and Security Agreement and each other Loan Document shall be correct on and as of the Amendment Effective Date as though made on and as of such date (except where such representations and warranties relate to an earlier date in which case such representations and warranties shall be true and correct as of such earlier date); no Default or Event of Default shall have occurred and be continuing on the Amendment Effective Date or result from this Amendment becoming effective in accordance with its terms. (iib) Foothill shall have received two (2) counterparts of this Amendment, duly executed by New Borrower and the Parent. (iiic) All legal matters incident to this Amendment shall be reasonably satisfactory to Foothill and its counsel. (d) Foothill shall have received a nonrefundable fee of $25,000 in consideration of the execution and delivery by Foothill of this Amendment.

Appears in 1 contract

Samples: Loan and Security Agreement (Dyntek Inc)

Conditions and Covenants. This Amendment shall become effective only upon satisfaction in full of the following conditions precedent (the first date upon which all such conditions have been satisfied being herein called the "Amendment Effective DateAMENDMENT EFFECTIVE DATE"): (i) The representations and warranties contained in this Amendment and in Section 5 of the Loan and Security Agreement and each other Loan Document shall be correct on and as of the Amendment Effective Date as though made on and as of such date (except where such representations and warranties relate to an earlier date in which case such representations and warranties shall be true and correct as of such earlier date); no Default or Event of Default shall have occurred and be continuing on the Amendment Effective Date or result from this Amendment becoming effective in accordance with its terms. (ii) Foothill shall have received two (2) counterparts of this Amendment, duly executed by New Borrower and Parent. (iii) All legal matters incident to this Amendment shall be satisfactory to Foothill and its counsel.

Appears in 1 contract

Samples: Loan and Security Agreement (Tekinsight Com Inc)

Conditions and Covenants. This Amendment shall become effective only upon satisfaction in full of the following conditions precedent (the first date upon which all such conditions have been satisfied being herein called the "Amendment Effective Date"): (i) The representations and warranties contained in this Amendment and in Section 5 of the Loan and Security Agreement and each other Loan Document shall be correct on and as of the Amendment Effective Date as though made on and as of such date (except where such representations and warranties relate to an earlier date in which case such representations and warranties \warranties shall be true and correct as of such earlier date); no Default or Event of Default shall have occurred and be continuing on the Amendment Effective Date or result from this Amendment becoming effective in accordance with its terms. (ii) Foothill shall have received two (2) counterparts of this Amendment, duly executed by New Borrower and Parent. (iii) All legal matters incident to this Amendment shall be satisfactory to Foothill and its counsel.

Appears in 1 contract

Samples: Loan and Security Agreement (Tekinsight Com Inc)

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Conditions and Covenants. (a) This Amendment shall become effective only upon satisfaction in full of the following conditions precedent (the first date upon which all such conditions have been satisfied being herein called the "Amendment Effective Date"): (i) The representations and warranties contained in this Amendment and in Section 5 of the Loan and Security Agreement and each other Loan Document shall be correct on and as of the Amendment Effective Date as though made on and as of such date (except where such representations and warranties relate to an earlier date in which case such representations and warranties shall be true and correct as of such earlier date); no Default or Event of Default shall have occurred and be continuing on the Amendment Effective Date or result from this Amendment becoming effective in accordance with its terms. (ii) Foothill shall have received two (2) counterparts of this Amendment, duly executed by New Borrower and Parent. (iii) All legal matters incident to this Amendment shall be satisfactory to Foothill and its counsel.

Appears in 1 contract

Samples: Loan and Security Agreement (Tekinsight Com Inc)

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