Conditions Applicable to All Loans and Letters of Credit. The obligation of the Bank to make each Revolving Credit Loan (including the initial Revolving Credit Loan) and the Term Loan and to issue Letters of Credit pursuant to this Agreement shall be subject to the further conditions that on the date of such Loan or Letter of Credit: (1) No Default or Event of Default has occurred and is continuing, or would result from such Loan or Letter of Credit; and (2) The amount of such Loan or Letter of Credit when combined with the aggregate amount all other Loans and Letters of Credit then outstanding or having been requested pursuant to this Agreement does not exceed the amount of the Commitment on such date.
Appears in 3 contracts
Samples: Revolving Credit and Term Loan Agreement, Revolving Credit and Term Loan Agreement (Burlington Coat Factory Warehouse Corp), Revolving Credit and Term Loan Agreement (Burlington Coat Factory Warehouse Corp)
Conditions Applicable to All Loans and Letters of Credit. The obligation of the Bank to make each Revolving Credit Loan (including the initial Revolving Credit Loan) and the Term Loan and to issue Letters of Credit pursuant to this Agreement shall be subject to the further conditions that on the date of such Loan or Letter of Credit:
(1) No Default or Event of Default has occurred and is continuing, or would result from such Loan or Letter of Credit; and
(2) The amount of such Loan or Letter of Credit when combined with the aggregate amount all other Loans and Letters of Credit then outstanding or having been requested pursuant to this Agreement does not exceed the amount of the Commitment on such date.
Appears in 1 contract
Samples: Revolving Credit Agreement (Burlington Coat Factory Warehouse Corp)
