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 and to cause 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; (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; and (c) no injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the extending of such credit shall have been issued and remain in force by any Governmental Authority against the Borrower, the Lender, or any of their Affiliates.

Appears in 3 contracts

Samples: Credit and Security Agreement (Pro Dex Inc), Credit and Security Agreement (Pro Dex Inc), Credit and Security Agreement (International Displayworks Inc)

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Conditions Precedent to All Advances and Letters of Credit. The Lender's obligation of Bank to make each Advance and to cause each Letter extension of Credit to be issued credit requested by Borrower hereunder shall be subject to the further conditions precedent thatfulfillment to Bank’s satisfaction of each of the following conditions: (a) the representations and warranties contained in Article V are correct on and as of the date of such Advance or issuance extension of a Letter of Credit 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; (b) no event has occurred and is continuing, or would result from such Advance or issuance extension of a Letter of Credit credit which constitutes a Default or an Event of Default; and (c) no injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the extending of such credit shall have been issued and remain in force by any Governmental Authority against the Borrower, the LenderBank, or any of their Affiliates.

Appears in 3 contracts

Samples: Credit Agreement (Landec Corp \Ca\), Credit Agreement (Landec Corp \Ca\), Ex Im Credit Agreement (Landec Corp \Ca\)

Conditions Precedent to All Advances and Letters of Credit. The Lender's ’s obligation to make each Advance and to cause 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; (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; and (c) no injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the extending of such credit shall have been issued and remain in force by any Governmental Authority against the Borrower, the Lender, or any of their Affiliates.

Appears in 2 contracts

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

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Conditions Precedent to All Advances and Letters of Credit. The Lender's obligation to make each Advance and to cause 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; (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; and (c) no injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the extending of such credit shall have been issued and remain in force by any Governmental Authority against the BorrowerBorrowers, the Lender, or any of their Affiliates.

Appears in 1 contract

Samples: Credit and Security Agreement (Netlist Inc)

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