Common use of Conditions Precedent to Additional Advances Clause in Contracts

Conditions Precedent to Additional Advances. The Bank shall have no obligation to make any additional Advance subsequent to the date hereof unless each of the following conditions precedent has been either satisfied or waived prior to or concurrently with the making of such Advance. (a) Each of the conditions of Section 6.1 has been satisfied or waived by the Bank in writing; (b) Each of the Loan Documents shall be in full force and effect; (c) The representations and warranties of the Borrower set forth herein shall be true and correct as of the date of each Advance as if made on and as of such date; (d) No Default or Event of Default has occurred and is continuing as of the date of each Advance; (e) There is and has been no material adverse change in the Borrower’s financial condition, results of operations or otherwise which would, in the judgment of the Bank, impair the Borrower’s ability to repay all or any portion of the Revolving Credit Note; and (f) No further action, including any filing or recording of any agreement, document or instrument, is necessary to establish and perfect the Bank’s Lien on and priority in the Collateral. Each request for an Advance by the Borrower shall be deemed a representation and warranty by the Borrower that each of the conditions precedent set forth in Sections 6.2(a), (b), (c), (d) and (e) hereof has been satisfied, unless the Bank has waived satisfaction of any such condition in writing prior to or concurrently with the making of such Advances in which case the representation and warranty of the Borrower will not be deemed to extend to that particular condition.

Conditions Precedent to Additional Advances. The Bank shall have no obligation to make (a) any additional Advance subsequent to the date hereof initial Advance or (b) the Term Loan, unless each of the following conditions precedent has been either satisfied or waived prior to or concurrently with the making of such Advance.: (a) Each of the conditions of Section 6.1 has been satisfied or waived by the Bank in writing; (b) Each of the Loan Documents shall be in full force and effect; (cb) The representations and warranties of the Borrower Borrowers set forth herein shall be true and correct as of the date of each Advance as if made on and as of such date, and each request for an Advance by the Borrowers shall be deemed a representation and warranty by the Borrowers to such effect; (dc) No Default or Event of Default has occurred and is continuing as of the date of each Advance; (ed) There is and has been no material adverse change in the either Borrower’s 's financial condition, results of operations operations, business prospects or otherwise which would, in the judgment of the Bank, impair the such Borrower’s 's ability to repay all or any portion of the Revolving Credit Note; andNotes; (fe) No further action, including any filing or recording of any agreement, document or instrument, is necessary to establish and perfect the Bank’s Lien on 's lien and priority in the Collateral. Each request for an Advance ; and (f) The Borrowers shall submit to the Bank, all reports and documents required to be submitted to the Bank by the Borrower shall be deemed a representation and warranty by the Borrower that each Borrowers pursuant to Section 5.8 of the conditions precedent set forth in Sections 6.2(a), (b), (c), (d) and (e) hereof has been satisfied, unless the Bank has waived satisfaction of any such condition in writing prior to or concurrently with the making of such Advances in which case the representation and warranty of the Borrower will not be deemed to extend to that particular conditionthis Agreement.

Conditions Precedent to Additional Advances. The Bank shall have no obligation to make any additional Advance subsequent to the date hereof unless each of the following conditions precedent has been either satisfied or waived prior to or concurrently with the making of such Advance.: (a) Each of the conditions of Section 6.1 5.1 has been satisfied or waived by the Bank in writingwaived; (b) Each of the Loan Documents shall be in full force and effect; (c) The representations and warranties of the Borrower set forth herein shall be true and correct as of the date of each Advance as if made on and as of such date; (d) No Default or Event of Default has occurred and is continuing as of the date of each Advance;; and (e) There is and has been no material adverse change in the Borrower’s 's financial condition, results of operations or otherwise which would, in the judgment of the Bank, impair the Borrower’s 's ability to repay all or any portion of the Revolving Credit Note; and (f) No further action, including any filing or recording of any agreement, document or instrument, is necessary to establish and perfect the Bank’s Lien on and priority in the Collateral. Each request for an Advance by the Borrower shall be deemed a representation and warranty by the Borrower that each of the conditions precedent set forth in Sections 6.2(a5.2(a), (b), (c), (d) and (e) hereof has been satisfied, unless the Bank has waived satisfaction of any such condition in writing prior to or concurrently with the making of such Advances Advances, in which case the representation and warranty of the Borrower will not be deemed to extend to that particular condition.