Common use of Conditions for All Loans Clause in Contracts

Conditions for All Loans. The Commitment of each Lender to make each Loan hereunder shall be subject to the satisfaction of the following conditions precedent on the date of such Loan: (a) The Agent shall have received from the Borrower a notice requesting such Loan as required by Section 2.03. (b) The representations and warranties of the Borrower set forth in Article III hereof (except, in the case of any Loan that does not increase the aggregate principal amount of the Loans outstanding to the Borrower, the representations set forth in Sections 3.05(b), 3.06, 3.11 and 3.13 and except, in the case of any Loan that is to be used to repay commercial paper of the Borrower, the representation set forth in Section 3.05(b)) shall be true and correct in all material respects on and as of the date of such Loan with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date. (c) At the time of and immediately after such Loan, no Default or Event of Default shall have occurred and be continuing at the time of such Loan or would result from the making of such Loan. (d) The Agent shall have received a certificate of a Responsible Officer of the Borrower certifying that the matters set forth in paragraphs (b) and (c) of this Section 4.02 are true and correct as of such date. Each Loan shall be deemed to constitute a representation and warranty by the Borrower on the date of such Loan as to the matters specified in paragraphs (b) and (c) of this Section 4.02.

Appears in 1 contract

Samples: Credit Agreement (Txu Corp /Tx/)

AutoNDA by SimpleDocs

Conditions for All Loans. The Commitment of each Lender to make each Loan hereunder to be made by it in connection with any Borrowing (including the initial Borrowing) shall be subject to the satisfaction of the following conditions precedent on the date of such LoanBorrowing: (a) The Agent shall have received from the Borrower a notice requesting of such Loan Borrowing as required by Section 2.03. (b) The representations and warranties of the Borrower set forth in Article III hereof (except, except in the case of any Loan a refinancing of a Borrowing with a new Borrowing that does not increase the aggregate principal amount of the Loans outstanding to the Borrowerof any Lender outstanding, the representations set forth in Sections 3.05(b), 3.06, 3.11 and 3.13 and except, in the case of any Loan that is to be used to repay commercial paper of the Borrower, the representation set forth in Section 3.05(b)3.13) shall be true and correct in all material respects on and as of the date of such Loan Borrowing with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date. (c) At the time of and immediately after such LoanBorrowing, no Event of Default or Event of Default shall have occurred and be continuing at the time of such Loan or would result from the making of such Loancontinuing. (d) The Agent shall have received a certificate of a Responsible Officer of the Borrower certifying that the matters set forth in paragraphs (b) and (c) of this Section 4.02 are true and correct as of such date. Each such Loan shall be deemed to constitute a representation and warranty by the Borrower on the date of such Loan Borrowing as to the matters specified in paragraphs (b) and (c) of this Section 4.02.

Appears in 1 contract

Samples: Revolving Credit Agreement (Txu Corp /Tx/)

Conditions for All Loans. The Commitment of each Lender to make each Loan hereunder shall be subject to the satisfaction of the following conditions precedent on the date of such Loan: (a) The Agent shall have received from the Borrower a notice Borrowing Request requesting such Loan as required by Section 2.03. (b) The representations and warranties of the Borrower set forth in Article III hereof (except, except in the case of any Loan that does not increase the aggregate principal amount of the Loans outstanding to the Borroweroutstanding, the representations set forth in Sections 3.05(b), 3.06, 3.11 and 3.13 and except, in the case of any Loan that is to be used to repay commercial paper of the Borrower, the representation set forth in Section 3.05(b)3.13) shall be true and correct in all material respects on and as of the date of such Loan with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date. (c) At the time of and immediately after such Loan, no Default or Event of Default shall have occurred and be continuing at the time of such Loan or would result from the making of such Loan. (d) The Agent shall have received a certificate of a Responsible Officer of the Borrower certifying that the matters set forth in paragraphs (b) and (c) of this Section 4.02 are true and correct as of such date. Each The acceptance by the Borrower of the proceeds of any Loan shall be deemed to constitute a representation and warranty by the Borrower on the date of such Loan as to the matters specified in paragraphs subsections (b) and (c) of this Section 4.02.

Appears in 1 contract

Samples: Credit Agreement (Txu Corp /Tx/)

Conditions for All Loans. The Commitment of each Lender to make each Loan hereunder to be made by it in connection with any Borrowing shall be subject to the satisfaction of the following conditions precedent on the date of such LoanBorrowing: (a) The Agent Agents shall have received from the Borrower a notice requesting of such Loan Borrowing as required by Section 2.032.03 or Section 2.04, as applicable. (b) The representations and warranties of the Borrower set forth in Article III hereof (except, except (i) in the case of any Loan a refinancing of a Standby Borrowing with a new Standby Borrowing that does not increase the aggregate principal amount of the Loans outstanding to the Borrowerof any Lender outstanding, the representations set forth in Sections 3.05(b3.05(d), 3.06, 3.11 and 3.13 3.13, and except(ii) at any time after March 31, in the case of any Loan that is to be used to repay commercial paper of the Borrower2000, the representation representations set forth in Section 3.05(b)3.14) shall be true and correct in all material respects on and as of the date of such Loan Borrowing with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date. (c) At the time of and immediately after such Loan, Borrowing no Event of Default or Event of Default shall have occurred and be continuing at the time of such Loan or would result from the making of such Loancontinuing. (d) The Agent Agents shall have received a certificate of a Responsible Officer of the applicable Borrower certifying that the matters set forth in paragraphs (b) and (c) of this Section 4.02 are true and correct as of such date. Each such Loan shall be deemed to constitute a representation and warranty by the each Borrower on the date of such Loan Borrowing as to the matters specified in paragraphs subsections (b) and (c) of this Section 4.02.

Appears in 1 contract

Samples: 364 Day Second Amended and Restated Competitive Advance and Revolving Credit Facility Agreement (Txu Electric Co)

AutoNDA by SimpleDocs

Conditions for All Loans. The Commitment of each Lender to make each Loan hereunder to be made by it in connection with any Borrowing shall be subject to the satisfaction of the following conditions precedent on the date of such LoanBorrowing: (a) The Agent Agents shall have received from the Borrower a notice requesting of such Loan Borrowing as required by Section 2.032.03 or Section 2.04, as applicable. (b) The representations and warranties of the Borrower set forth in Article III hereof (except, except in the case of any Loan a refinancing of a Standby Borrowing with a new Standby Borrowing that does not increase the aggregate principal amount of the Loans outstanding to the Borrowerof any Lender outstanding, the representations set forth in Sections 3.05(b3.05(d), 3.06, 3.11 and 3.13 and except, in the case of any Loan that is to be used to repay commercial paper of the Borrower, the representation set forth in Section 3.05(b)3.13) shall be true and correct in all material respects on and as of the date of such Loan Borrowing with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date. (c) At the time of and immediately after such Loan, Borrowing no Event of Default or Event of Default shall have occurred and be continuing at the time of such Loan or would result from the making of such Loancontinuing. (d) The Agent Agents shall have received a certificate of a Responsible Officer of the applicable Borrower certifying that the matters set forth in paragraphs (b) and (c) of this Section 4.02 are true and correct as of such date. Each such Loan shall be deemed to constitute a representation and warranty by the each Borrower on the date of such Loan Borrowing as to the matters specified in paragraphs subsections (b) and (c) of this Section 4.02.

Appears in 1 contract

Samples: 364 Day Competitive Advance and Revolving Credit Facility Agreement (Txu Electric Co)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!