Common use of Conditions as Covenants Clause in Contracts

Conditions as Covenants. In the event that the Lenders permit this Agreement to become effective and make any Loans on the Effective Date or permit FCC to issue a Letter of Credit Guarantee prior to the satisfaction of all conditions precedent set forth in SECTION 5.1, and such conditions are not waived in writing by the Administrative Agent, the Borrowers shall nevertheless cause such condition or conditions to be satisfied within 30 days after the making of such Loans or the issuance of such Letter of Credit Guarantee.

Appears in 3 contracts

Samples: Loan and Security Agreement (Russell Corp), Loan and Security Agreement (American Tire Distributors Inc), Loan and Security Agreement (Heafner Tire Group Inc)

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Conditions as Covenants. In the event that the Lenders permit this Agreement to become effective and make any Loans on the Effective Date or permit FCC to issue a Letter of Credit Guarantee prior to the satisfaction of all conditions precedent set forth in SECTION Section 5.1, and such conditions are not waived in writing by the Administrative Agent, the Borrowers shall nevertheless cause such condition or conditions to be satisfied within 30 days after the making of such Loans or the issuance of such Letter of Credit Guarantee.

Appears in 1 contract

Samples: Credit and Security Agreement (Mastec Inc)

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Conditions as Covenants. In the event that the Lenders permit this Agreement to become effective and make any the Initial Loans on the Effective Date or permit FCC BankBoston to issue a Letter of Credit Guarantee prior to the satisfaction of all conditions precedent set forth in SECTION 5.1, and such conditions are not waived in writing by the Administrative Agent, the Borrowers shall nevertheless cause such condition or conditions to be satisfied within 30 thirty days after the making of such Initial Loans or the issuance of such Letter of Credit GuaranteeCredit.

Appears in 1 contract

Samples: Loan and Security Agreement (Phoenix Racing Inc)

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