Common use of Conditions of Each Margin Loan Clause in Contracts

Conditions of Each Margin Loan. Any request by the Borrower for a Margin Loan hereunder or the execution by the Borrower of a Borrowing Notice for such Margin Loan, shall be deemed to be a representation and warranty by the Borrower that each of the following is and shall be true and correct as of the applicable Borrowing Date after giving effect to the making of the requested Margin Loan: (a) no Default or Event of Default shall have occurred and be continuing; (b) all representations and warranties made by the Borrower herein shall be true and correct on and as of such date with the same force and effect as if made on and as of such date; (c) the Borrower shall have complied with all covenants and conditions precedent contained herein; and (d) the Aggregate Collateral Value will at least equal the Aggregate Outstanding Amount. The accuracy of each such representation shall be a condition precedent to the Bank’s obligation to make such Margin Loan.

Conditions of Each Margin Loan. Any request by the Borrower for a Margin Loan hereunder or the execution by the Borrower of a Borrowing Notice for such Margin Loan, shall be deemed to be a representation and warranty by the Borrower that each of the following is and shall be true and correct as of the applicable Borrowing Date after giving effect to the making of the requested Margin Loan: (a) no Default or Event of Default shall have occurred and be continuing; (b) all representations and warranties made by the Borrower herein shall be true and correct on and as of such date with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (c) the Borrower shall have complied with all covenants and conditions precedent contained herein; and (d) the Aggregate Collateral Value will at least shall equal or exceed the Aggregate Outstanding Amount. The accuracy of each such representation Each Extension Amendment delivered by the Borrower shall be deemed to be a condition precedent to representation and warranty by the Bank’s obligation to make Borrower that the foregoing conditions (a), (b), (c) and (d) are each satisfied as of the date such Margin LoanExtension Amendment is delivered.