Common use of Conditions Precedent to Advances Clause in Contracts

Conditions Precedent to Advances. Lender’s obligation to make any Advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance and after giving effect thereto (i) all representations and warranties made to Lender in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s receipt of all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 3 contracts

Samples: Loan Agreement (Craftmade International Inc), Loan Agreement (Craftmade International Inc), Loan Agreement (Craftmade International Inc)

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Conditions Precedent to Advances. Lender’s obligation to make any Advance advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance advance and after giving effect thereto (i) all representations and warranties made to Lender in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advanceadvance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s receipt of all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 3 contracts

Samples: Loan Agreement (Pioneer Drilling Co), Loan Agreement (Craftmade International Inc), Loan Agreement (Teraforce Technology Corp)

Conditions Precedent to Advances. Lender’s Bank's obligation to make any Advance advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance advance and after giving effect thereto (i) all representations and warranties made to Lender Bank in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender Bank by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advanceadvance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s Bank's receipt of all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 2 contracts

Samples: Loan Agreement (Medicalcontrol Inc), Loan Agreement (Horizon Pharmacies Inc)

Conditions Precedent to Advances. Lender’s obligation to make any Advance advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance advance and after giving effect thereto (i) all representations and warranties made to Lender in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower Pioneer since the effective date of the most recent financial statements furnished to Lender by Borrower Pioneer shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advanceadvance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s receipt of all Loan Documents appropriately executed by Borrower Pioneer and all other proper parties.

Appears in 2 contracts

Samples: Loan Agreement (Pioneer Drilling Co), 2003 Consolidated Loan Agreement (Pioneer Drilling Co)

Conditions Precedent to Advances. Lender’s 's obligation to make any Advance advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance advance and after giving effect thereto (i) all representations and warranties made to Lender in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advanceadvance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s 's receipt of all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 2 contracts

Samples: Loan Agreement (Pioneer Drilling Co), Loan Agreement (South Texas Drilling & Exploration Inc)

Conditions Precedent to Advances. Lender’s Bank's obligation to make any Advance advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance advance and after giving effect thereto (i) all representations and warranties made to Lender Bank by Borrower and the Guarantors in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender Bank by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advanceadvance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s Bank's receipt of all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 1 contract

Samples: Loan Agreement (Holloman Corp)

Conditions Precedent to Advances. Lender’s 's obligation to make any Advance advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance advance and after giving effect thereto (i) all representations and warranties made to Lender in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advancerequest advance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s 's receipt of all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 1 contract

Samples: Loan Agreement (South Texas Drilling & Exploration Inc)

Conditions Precedent to Advances. Lender’s Bank's obligation to make any Advance advance -------------------------------- under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance advance and after giving effect thereto (i) all representations and warranties made to Lender Bank in this Loan Agreement and the other Loan Documents shall be true and correct, correct as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender bank by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advanceadvance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s receipt Bank has received of all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 1 contract

Samples: Loan Agreement (Mace Security International Inc)

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Conditions Precedent to Advances. Lender’s Bank's obligation to make any Advance -------------------------------- advance under this Loan Agreement or issue any Letters of Credit under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance advance and after giving effect thereto (i) all representations and warranties made to Lender Bank in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender Bank by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advanceadvance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s Bank's receipt of all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 1 contract

Samples: Loan Agreement (Panja Inc)

Conditions Precedent to Advances. Lender’s 's obligation to make any Advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance and after giving effect thereto (i) all representations and warranties made to Lender in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s 's receipt of all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 1 contract

Samples: Loan Agreement (Craftmade International Inc)

Conditions Precedent to Advances. Lender’s Bank's obligation to make any Advance advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance advance and after giving effect thereto (i) all representations and warranties made to Lender Bank in this Loan Agreement and the other Loan Documents shall be true and correctcorrect in all material respects, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender Bank by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advanceadvance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s Bank's receipt of all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 1 contract

Samples: Loan Agreement (Teraforce Technology Corp)

Conditions Precedent to Advances. Lender’s Bank's obligation to make any Advance advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such Advance advance and after giving effect thereto (i) all representations and warranties made to Lender Bank in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender Bank by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested Advanceadvance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s receipt of Bank has received all Loan Documents appropriately executed by Borrower and all other proper parties.

Appears in 1 contract

Samples: Loan Agreement (Vertex Communications Corp /Tx/)

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