Conditions for Advances. The making of Advances under the Line of Credit is subject to the following conditions precedent (all instruments, documents and agreements to be in form and substance satisfactory to Lender and its counsel): a. This Agreement and each of the other Loan Documents shall be effective; b. No event or condition shall have occurred or become known to Borrower, or would result from the making of any requested Advance, which could have a Material Adverse Effect; c. No Default or Event of Default then exists or after giving effect to the making of the Advance would exist; d. Each Advance is within and complies with the terms and conditions of this Agreement; and e. Each representation and warranty set forth in Section 5 and any other Loan Document in effect at such time (as amended or modified from time to time) is then true and correct in all material respects as if made on and as of such date except to the extent such representations and warranties are made only as of a specific earlier date.
Appears in 3 contracts
Samples: Non Revolving Line of Credit Loan Agreement (Loop Media, Inc.), Secured Non Revolving Line of Credit Loan Agreement (Loop Media, Inc.), Secured Non Revolving Line of Credit Loan Agreement (Loop Media, Inc.)
Conditions for Advances. The making of Advances under the Line of Credit is subject to the following conditions precedent (all instruments, documents and agreements to be in form and substance satisfactory to Lender and its counsel):
a. This Agreement Agreement, the Warrant and each of the other Loan Documents shall be effective;
b. No event or condition shall have occurred or become known to Borrower, or would result from the making of any requested Advance, which could have a Material Adverse Effect;
c. No Default or Event of Default then exists or after giving effect to the making of the Advance would exist;
d. Each Advance is within and complies with the terms and conditions of this Agreement; and
e. Each representation and warranty set forth in Section 5 and any other Loan Document in effect at such time (as amended or modified from time to time) is then true and correct in all material respects as if made on and as of such date except to the extent such representations and warranties are made only as of a specific earlier date.
Appears in 1 contract
Samples: Non Revolving Line of Credit Loan Agreement (Loop Media, Inc.)
Conditions for Advances. The making of Advances under the Line of Credit is subject to the following conditions precedent (all instruments, documents and agreements to be in form and substance satisfactory to Lender and its counsel):
a. This Agreement and each of the other Loan Documents shall be effective;
b. No event or condition shall have occurred or become known to Borrower, or would result from the making of any requested Advance, which could have a Material Adverse Effect;
c. No Default or Event of Default then exists or after giving effect to the making of the Advance would exist;
d. Each Advance is within and complies with the terms and conditions of this Agreement; and
e. Each representation and warranty set forth in Section 5 4 and any other Loan Document in effect at such time (as amended or modified from time to time) is then true and correct in all material respects as if made on and as of such date except to the extent such representations and warranties are made only as of a specific earlier date.
Appears in 1 contract
Samples: Non Revolving Line of Credit Loan Agreement (Loop Media, Inc.)
