Common use of Conditions Precedent to All Advances and Letters of Credit Clause in Contracts

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation to make each Advance or to cause the issuance of a Letter of Credit shall be subject to the further conditions precedent that: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which constitutes a Default or an Event of Default.

Appears in 13 contracts

Samples: Credit and Security Agreement (Professional Veterinary Products LTD /Ne/), Credit and Security Agreement (Professional Veterinary Products LTD /Ne/), Credit and Security Agreement (Rf Monolithics Inc /De/)

AutoNDA by SimpleDocs

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation to make each Advance or and to cause the issuance of a each Letter of Credit to be issued shall be subject to the further conditions precedent that: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which constitutes a Default or an Event of Default.

Appears in 8 contracts

Samples: Credit and Security Agreement (HC2 Holdings, Inc.), Credit and Security Agreement (Pw Eagle Inc), Credit and Security Agreement (Bionova Holding Corp)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s 's obligation to make each Advance or to cause the issuance of a Issuer to issue any Letter of Credit shall be subject to the further conditions precedent thatthat on such date: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or the issuance of a such Letter of Credit Credit, as the case may be, which constitutes a Default or an Event of Default.

Appears in 7 contracts

Samples: Credit and Security Agreement (Royal Precision Inc), Credit and Security Agreement (Royal Precision Inc), Credit and Security Agreement (Royal Precision Inc)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s 's obligation to make each Advance or and to cause the issuance of a each Letter of Credit to be issued shall be subject to the further conditions precedent that: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which constitutes a Default or an Event of Default.

Appears in 6 contracts

Samples: Credit and Security Agreement (Hc2 Holdings, Inc.), Credit and Security Agreement (Zila Inc), Credit and Security Agreement (Cost U Less Inc)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation to make each Advance or to cause the issuance of a Letter of Credit shall be subject to the further conditions precedent that: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which that constitutes a Default or an Event of Default.

Appears in 3 contracts

Samples: Credit and Security Agreement (Christopher & Banks Corp), Credit and Security Agreement (Christopher & Banks Corp), Credit and Security Agreement (Delphax Technologies Inc)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation to make each Advance or to cause the issuance of a issue each Letter of Credit shall be subject to the further conditions precedent that: (a) the representations and warranties contained in Article V hereof are correct on and as of the such date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or the issuance of a such Letter of Credit Credit, as the case may be, which constitutes a Default or an Event of Default.

Appears in 2 contracts

Samples: Credit and Security Agreement (Heska Corp), Credit and Security Agreement (Heska Corp)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s 's obligation to make each Advance or to cause the issuance of a issue any Letter of Credit shall be subject to the further conditions precedent thatthat on such date: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or the issuance of a such Letter of Credit Credit, as the case may be, which constitutes a Default or an Event of Default.

Appears in 2 contracts

Samples: Credit and Security Agreement (Sportsmans Guide Inc), Credit and Security Agreement (Ultra Pac Inc)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s 's obligation to make each Advance or and to cause the issuance of a each Letter of Credit to be issued shall be subject to the further conditions precedent that: (a) the representations and warranties of the Borrower and each Guarantor contained in Article V and in each Loan Document are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which constitutes a Material Adverse Effect or which constitutes a Default or an Event of Default.

Appears in 2 contracts

Samples: Credit and Security Agreement (Metretek Technologies Inc), Credit and Security Agreement (Metretek Technologies Inc)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation to make each Advance or to cause the issuance of a Issuer to issue any Letter of Credit shall be subject to the further conditions precedent thatthat on such date: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; andand Credit and Security Agreement (b) no event has occurred and is continuing, or would result from such Advance or the issuance of a such Letter of Credit Credit, as the case may be, which constitutes a Default or an Event of Default.

Appears in 1 contract

Samples: Credit and Security Agreement (Winland Electronics Inc)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation to make each Advance or to cause the issuance of a Letter of Credit shall be subject to the further conditions precedent that: (a) the representations and warranties contained in Article V 0 are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which constitutes a Default or an Event of Default.

Appears in 1 contract

Samples: Credit and Security Agreement (Exabyte Corp /De/)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation to make each Advance or to cause the issuance of a issue any Letter of Credit shall be subject to the further conditions precedent that: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which constitutes a Default or an Event of Default.

Appears in 1 contract

Samples: Credit and Security Agreement (Miscor Group, Ltd.)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation of the Banks to make each any Advance (including the initial Advance) or to cause the issuance of a issue any Letter of Credit shall be subject to the further conditions precedent thatthat on the date of such Advance or Letter of Credit: (a) the representations and warranties contained in Article V IV are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit Credit, which constitutes a Default or an Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Albecca Inc)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s 's obligation to make each Advance or to cause the issuance of a Issuer to issue any Letter of Credit shall be subject to the further conditions precedent thatthat on such date: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which constitutes a Default or an Event of Default.

Appears in 1 contract

Samples: Credit and Security Agreement (Nebo Products Inc)

AutoNDA by SimpleDocs

Conditions Precedent to All Advances and Letters of Credit. The Lender’s 's obligation to make each Advance or and to cause the issuance of a each Letter of Credit to be issued shall be subject to the further conditions precedent thatthat on such date: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which constitutes a Default or an Event of Default." 13. Section 6.12 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

Appears in 1 contract

Samples: Credit and Security Agreement (Vari L Co Inc)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s 's obligation to make each Advance or to cause the issuance of a Issuer to issue any Letter of Credit shall be subject to the further conditions precedent thatthat on such date: (a) the representations and warranties contained in Article V are correct in all material respects on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or the issuance of a such Letter of Credit Credit, as the case may be, which constitutes a Default or an Event of Default.

Appears in 1 contract

Samples: Credit and Security Agreement (Telular Corp)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation to make each Advance or to cause the issuance of a issue any Letter of Credit shall be subject to the further conditions precedent thatthat on such date: (a) the representations and warranties contained in Article V hereof are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and; (b) no event has occurred and is continuing, or would result from such Advance or the issuance of a such Letter of Credit Credit, as the case may be, which constitutes a Default or an Event of Default; and (c) the Borrower shall have delivered to the Lender the Borrowing Base Certificate required in connection with any Advance.

Appears in 1 contract

Samples: Credit and Security Agreement (Landec Corp \Ca\)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation to make each Advance or to cause the issuance of a Letter of Credit shall be subject to the further conditions precedent that: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which constitutes a Default or an Event of Default.

Appears in 1 contract

Samples: Credit and Security Agreement (Orion Energy Systems, Inc.)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation of the Bank to make each any Advance (including the initial Advance ) or to cause the issuance of a issue any Letter of Credit shall be subject to the further conditions precedent thatthat on the date of such Advance or Letter of Credit: (a) the representations and warranties contained in Article V IV are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit Credit, which constitutes a Default or an Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Young America Holdings Inc)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s obligation of the Bank to make each any Advance or to cause the issuance of a issue any Letter of Credit shall be subject to the further conditions precedent thatthat on the date of such Advance or Letter of Credit: (a) the representations and warranties contained in Article V IV are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit Credit, which constitutes a Default or an Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Analysts International Corp)

Conditions Precedent to All Advances and Letters of Credit. The Lender’s 's obligation to make each Advance or to cause the issuance of a Letter of Credit shall be subject to the further conditions precedent that: (a) the representations and warranties contained in Article ARTICLE V are correct on and as of the date of such Advance or issuance of a Letter of Credit as though made on and as of such date, except EXCEPT to the extent that such representations and warranties relate solely to an earlier date; and (b) no event has occurred and is continuing, or would result from such Advance or issuance of a Letter of Credit which constitutes a Default or an Event of Default.

Appears in 1 contract

Samples: Credit and Security Agreement (Allis Chalmers Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!