Common use of CONDITIONS OF EACH EXTENSION OF CREDIT Clause in Contracts

CONDITIONS OF EACH EXTENSION OF CREDIT. The obligation of each Lender to make any credit available under the Loan Documents (including the Loans made by such Lender on the Closing Date), including the issuance of any Letter of Credit, shall be subject to the further conditions precedent that: (a) the following statements shall be true on the date such credit is advanced, both before and after giving effect thereto and to the application of the proceeds therefrom, and the acceptance by Borrower of the proceeds of such credit shall constitute a representation and warranty by Borrower that on the date such credit is advanced such statements are true: (i) the representations and warranties of the Loan Parties contained in the Loan Documents are correct in all material respects on and as of such date as though made on and as of such date or, as to those representations and warranties limited by their terms to a specified date, were correct in all material respects on and as of such date, except that the representations and warranties made under Section 4.5 shall be deemed to refer to the most recent financial statements furnished to Administrative Agent under Section 6.3; and (ii) no Default or Event of Default is continuing or would result from the credit being advanced (including any Letter of Credit being issued); (b) advancing such credit on such date does not violate any Governmental Rule and is not enjoined, temporarily, preliminarily or permanently; (c) Administrative Agent shall have received such additional documents, information and materials as any Lender, through Administrative Agent, may reasonably request; and (d) no event or circumstance exists that could reasonably be expected to have a Material Adverse Effect, provided that with respect to clause (a) of the definition of “Material Adverse Effect", the impacts of COVID-19 on the business, operations or financial condition of the Borrower or any of its Subsidiaries that occurred, or were reasonably expected to occur, and were disclosed to Administrative Agent in writing prior to the ClosingFirst Amendment Date will be disregarded; and (e) So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Loan and (ii) the Issuing Lender shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto. SECOND AMENDED AND RESTATED CREDIT AGREEMENT75

Appears in 1 contract

Samples: Credit Agreement (Columbia Sportswear Co)

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CONDITIONS OF EACH EXTENSION OF CREDIT. The obligation of each Lender to make any credit available under the Loan Documents (including the Loans made by such Lender on the Closing Date), including the issuance of any Letter of Credit, ) shall be subject to the further conditions precedent that: (a) the following statements shall be true on the date such credit is advanced, both before and after giving effect thereto and to the application of the proceeds therefrom, and the acceptance by Borrower of the proceeds of such credit shall constitute a representation and warranty by Borrower that on the date such credit is advanced such statements are true:: SECOND AMENDED AND RESTATED CREDIT AGREEMENT (i) the representations and warranties of the Loan Parties contained in the Loan Documents are correct in all material respects on and as of such date as though made on and as of such date or, as to those representations and warranties limited by their terms to a specified date, were correct in all material respects on and as of such date, except that the representations and warranties made under Section 4.5 shall be deemed to refer to the most recent financial statements furnished to Administrative Agent under Section 6.3; and (ii) no Default or Event of Default is continuing or would result from the credit being advanced (including any Letter of Credit being issued)advanced; (b) advancing such credit on such date does not violate any Governmental Rule and is not enjoined, temporarily, preliminarily or permanently; (c) Administrative Agent shall have received such additional documents, information and materials as any Lender, through Administrative Agent, may reasonably request; and (d) no event or circumstance exists that could reasonably be expected to have a Material Adverse Effect, provided that with respect to clause (a) of the definition of “Material Adverse Effect", the impacts of COVID-19 on the business, operations or financial condition of the Borrower or any of its Subsidiaries that occurred, or were reasonably expected to occur, and were disclosed to Administrative Agent in writing prior to the ClosingFirst Amendment Closing Date will be disregarded; and (e) So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Loan and (ii) the Issuing Lender shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto. SECOND AMENDED AND RESTATED CREDIT AGREEMENT75.

Appears in 1 contract

Samples: Credit Agreement (Columbia Sportswear Co)

CONDITIONS OF EACH EXTENSION OF CREDIT. The obligation of each Lender to make any credit available under the Loan Documents (including the Loans made by such Lender on the Closing Date), including the issuance of any Letter of Credit, shall be subject to the further conditions precedent that: (a) the following statements shall be true on the date such credit is advanced, both before and after giving effect thereto and to the application of the proceeds therefrom, and the acceptance by Borrower of the proceeds of such credit shall constitute a representation and warranty by Borrower that on the date such credit is advanced such statements are true: (i) the representations and warranties of the Loan Parties contained in the Loan Documents are correct in all material respects on and as of such date as though made on and as of such date or, as to those representations and warranties limited by their terms to a specified date, were correct in all material respects on and as of such date, except that the representations and warranties made under Section 4.5 shall be deemed to refer to the most recent financial statements furnished to Administrative Agent under Section 6.3; and (ii) no Default or Event of Default is continuing or would result from the credit being advanced (including any Letter of Credit being issued); (b) advancing such credit on such date does not violate any Governmental Rule and is not enjoined, temporarily, preliminarily or permanently; (c) Administrative Agent shall have received such additional documents, information and materials as any Lender, through Administrative Agent, may reasonably request; and; (d) no event or circumstance exists that could reasonably be expected to have a Material Adverse Effect, provided that with respect to clause (a) of the definition of “Material Adverse Effect", the impacts of COVID-19 on the business, operations or financial condition of the Borrower or any of its Subsidiaries that occurred, or were reasonably expected to occur, and were disclosed to Administrative Agent in writing prior to the ClosingFirst First Amendment Date will be disregarded; and (e) So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Loan and (ii) the Issuing Lender shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto. SECOND AMENDED AND RESTATED CREDIT AGREEMENT75Columbia – Second Amended and Restated Credit Agreement

Appears in 1 contract

Samples: Credit Agreement (Columbia Sportswear Co)

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CONDITIONS OF EACH EXTENSION OF CREDIT. The obligation of each Lender to make any credit available under the Loan Documents (including the Loans made by such Lender on the Closing Date), including the issuance issuance, amendment or extension of any Letter of Credit, shall be subject to the further conditions precedent that: (a) the following statements shall be true on the date such credit is advancedadvanced (including any Letter of Credit being issued, amended or extended), both before and after giving effect thereto and to the application of the proceeds therefrom, and the acceptance by Borrower of the proceeds of such credit shall constitute a representation and warranty by Borrower that on the date such credit is advanced (including any Letter of Credit being issued, amended or extended) such statements are true: (i) the representations and warranties of the Loan Parties contained in the Loan Documents are correct in all material respects (or if qualified by materiality or Material Adverse Effect, in all respects) on and as of such date as though made on and as of such date or, as to those representations and warranties limited by their terms to a specified date, were correct in all material respects (or if qualified by materiality or Material Adverse Effect, in all respects) on and as of such date, except that the representations and warranties made under Section 4.5 shall be deemed to refer to the most recent financial statements furnished to Administrative Agent under Section 6.3; and (ii) no Default or Event of Default is continuing or would result from the credit being advanced (including any Letter of Credit being issued, amended or extended); (b) advancing such credit on such date (including any Letter of Credit being issued, amended or extended) does not violate any Governmental Rule and is not enjoined, temporarily, preliminarily or permanently; (c) Administrative Agent shall have received such additional documents, information and materials as any Lender, through Administrative Agent, may reasonably request; and; (d) no event or circumstance exists that could reasonably be expected to have a Material Adverse Effect, provided that with respect to clause (a) of the definition of “Material Adverse Effect", the impacts of COVID-19 on the business, operations or financial condition of the Borrower or any of its Subsidiaries that occurred, or were reasonably expected to occur, and were disclosed to Administrative Agent in writing prior to the ClosingFirst Amendment Date will be disregarded; and (e) So so long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Loan and (ii) the no Issuing Lender shall not be required to issue, extend, renew extend or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto. SECOND AMENDED AND RESTATED CREDIT AGREEMENT75.

Appears in 1 contract

Samples: Credit Agreement (Columbia Sportswear Co)

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