Common use of Conditions Precedent to All Accommodations Clause in Contracts

Conditions Precedent to All Accommodations. (1) The obligation of each Lender to make Accommodations or otherwise give effect to any Accommodation Notice hereunder shall be subject to the conditions precedent that on the date of such Accommodation Notice and Accommodation, and immediately after giving effect thereto and to the application of any proceeds therefrom, (x) the representations and warranties contained in Article 6 are true and correct in all material respects on and as of such date, all as though made on and as of such date except for those changes to the representations and warranties which have been disclosed to and accepted by the Administrative Agent and the Lenders pursuant to Section 17.01 and any representation and warranty which is stated to be made as of a certain date (and then as of such date);and (y) no event or condition has occurred and is continuing, or would result from such Accommodation or giving effect to such Accommodation Notice, which constitutes a Default or an Event of Default. (2) Each of the giving of any Accommodation Notice by a Borrower and the acceptance by a Borrower of any Accommodation shall be deemed to constitute a representation and warranty by such Borrower that, on the date of such Accommodation Notice or Accommodation, as the case may be, and after giving effect thereto and to the application of any proceeds therefrom, the statements set forth in Section 5.02(1) are true and correct. (3) For the avoidance of doubt, this Section 5.02 shall not apply to conversions or elections in respect of Accommodations under Section 3.03 or 3.04.

Appears in 5 contracts

Samples: Credit Agreement (Open Text Corp), Credit Agreement (Open Text Corp), Credit Agreement (Open Text Corp)

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Conditions Precedent to All Accommodations. (1) The obligation of each Lender to make Accommodations or otherwise give effect to any Accommodation Notice hereunder shall in each case be subject to the conditions precedent that on the date of such Accommodation Notice and Accommodation, and immediately after giving effect thereto and to the application of any proceeds therefromthereto, (x) the representations and warranties contained in Article 6 7 are true and correct in all material respects on and as of such date, all as though made on and as of such date except for those changes to the representations and warranties which have been disclosed to and accepted by the Administrative Agent and the Lenders pursuant to Section 17.01 18.01 and any representation and warranty which is stated to be made only as of a certain date (and then as of such date);and date); and (y) no event or condition has occurred and is continuing, or would result from such Accommodation or giving effect to such Accommodation Notice, which constitutes a Default or an Event of Default. (2) Each of the giving of any Accommodation Notice by a Borrower and the acceptance by a Borrower of any Accommodation shall be deemed to constitute a representation and warranty by such Borrower the Borrowers that, on the date of such Accommodation Notice or Accommodation, as the case may be, and after giving effect thereto and to the application of any proceeds therefromthereto, the statements set forth in Section 5.02(16.02(1) are true and correct. (3) For the avoidance of doubt, this Section 5.02 6.02 shall not apply to conversions or elections in respect of Accommodations under Section 3.03 or 3.04Section 4.05.

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

Conditions Precedent to All Accommodations. (1) The obligation of each Lender to make Accommodations or otherwise give effect to any Accommodation Notice hereunder shall in each case be subject to the conditions precedent that on the date of such Accommodation Notice and Accommodation, and immediately after giving effect thereto and to the application of any proceeds therefromthereto, (x) the representations and warranties contained in Article 6 7 are true and correct in all material respects on and as of such date, all as though made on and as of such date except for those changes to the representations and warranties which have been disclosed to and accepted by the Administrative Agent and the Lenders pursuant to Section 17.01 18.01 and any representation and warranty which is stated to be made only as of a certain date (and then as of such date);and date); and (y) no event or condition has occurred and is continuing, or would result from such Accommodation or giving effect to such Accommodation Notice, which constitutes a Default or an Event of Default. (2) Each of the giving of any Accommodation Notice by a Borrower and the acceptance by a Borrower of any Accommodation shall be deemed to constitute a representation and warranty by such Borrower the Borrowers that, on the date of such Accommodation Notice or Accommodation, as the case may be, and after giving effect thereto and to the application of any proceeds therefromthereto, the statements set forth in Section 5.02(16.04(1) are true and correct. (3) For the avoidance of doubt, this Section 5.02 6.04 shall not apply to conversions or elections in respect of Accommodations under Section 3.03 or 3.04Section 4.05.

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

Conditions Precedent to All Accommodations. (1) The obligation of each Lender to make Accommodations or otherwise give effect to any Accommodation Notice hereunder shall be is subject to fulfilment of the following conditions precedent that on at the date time of such any Accommodation Notice and or Accommodation, as the case may be: (a) the Administrative Agent shall have received an Accommodation Notice (when required) from the Borrower in form and substance satisfactory to the Administrative Agent acting reasonably; (b) no Default or Event of Default has occurred and is continuing or would arise immediately after giving effect thereto and to or as a result of the application of any proceeds therefrom, Accommodation; (xc) the representations and warranties of the Credit Parties contained in Article 6 Section 6.01 are true and correct in all material respects on the date of the Accommodation as if they were made on that date, except representations and warranties which relate to an earlier date, which shall be true and correct in all material respects as of such date, all as though made on and as of such date except for those changes to ; and (d) the representations and warranties which have been disclosed to and accepted by the Administrative Agent and the Lenders pursuant to Section 17.01 and Accommodation will not violate any representation and warranty which is stated to be made as of a certain date (and then as of such date);and (y) no event or condition has occurred and is continuing, or would result from such Accommodation or giving effect to such Accommodation Notice, which constitutes a Default or an Event of Defaultapplicable Law. (2) Each of the giving of any Accommodation Notice by a Borrower and the acceptance by a Borrower of any Accommodation shall be deemed to constitute a representation and warranty by such Borrower the Credit Parties that, on the date of such Accommodation Notice or Accommodation, as the case may be, and after giving effect thereto and to the application of any proceeds therefrom, the statements set forth in Section 5.02(15.02(1)(b) and (c) are true and correct. (3) For the avoidance of doubt, this Section 5.02 shall not apply to conversions or elections in respect of Accommodations under Section 3.03 or 3.04.

Appears in 1 contract

Samples: Credit Agreement (Entertainment Properties Trust)

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Conditions Precedent to All Accommodations. (1) The obligation of each Lender to make Accommodations or otherwise give effect to any Accommodation Notice hereunder shall be subject to the conditions precedent that on the date of such Accommodation Notice and Accommodation, and immediately after giving effect thereto and to the application of any proceeds therefrom, (x) the representations and warranties contained in Article 6 7 are true and correct in all material respects on and as of such date, all as though made on and as of such date except for those changes to the representations and warranties which have been disclosed to and accepted by the Administrative Agent and the Lenders pursuant to Section 17.01 18.01 and any representation and warranty which is stated to be made as of a certain date (and then as of such date);and date); and (y) no event or condition has occurred and is continuing, or would result from such Accommodation or giving effect to such Accommodation Notice, which constitutes a Default or an Event of Default. (2) Each of the giving of any Accommodation Notice by a Borrower and the acceptance by a Borrower of any Accommodation shall be deemed to constitute a representation and warranty by such Borrower that, on the date of such Accommodation Notice or Accommodation, as the case may be, and after giving effect thereto and to the application of any proceeds therefrom, the statements set forth in Section 5.02(16.02(1) are true and correct. (3) For the avoidance of doubt, this Section 5.02 6.02 shall not apply to conversions or elections in respect of Accommodations under Section 3.03 3.03, 3.04 or 3.044.05.

Appears in 1 contract

Samples: Credit Agreement (Open Text Corp)

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