Conditions Precedent to All Credit Extensions and Releases. Each Credit Extension (including, without limitation, the Initial Credit Extension) made by the Lenders or one or more LC Issuers, as the case may be, to the Borrower and each Release, shall be subject to the further conditions precedent that on the date of each Credit Extension or Release, each of the following shall be true and correct both before and immediately after giving effect to such Credit Extension or Release, as applicable:
Conditions Precedent to All Credit Extensions and Releases. Each Borrowing (including, without limitation, the Initial Borrowing) made by the Lenders to the Borrower, each issuance of a Letter of Credit (including, without limitation, the initial Letter of Credit) by an Issuing Lender and each Release, shall be subject to the further conditions precedent that on the date of each Borrowing, Letter of Credit or Release, each of the following shall be true and correct both before and immediately after giving effect to such Borrowing, Letter of Credit or Release, as applicable:
Conditions Precedent to All Credit Extensions and Releases. The obligation of each Committed Lender to make the initial Loan under this Agreement and each subsequent Loan and the LC Issuer to issue the initial Letter of Credit and each subsequent Letter of Credit are subject to the following further conditions precedent: (a) the Servicer shall have delivered to the Administrative Agent on or prior to the date of such Loan, in form and substance satisfactory to the Administrative Agent, all Monthly Reports as and when due under Section 8.5, (b) upon the Administrative Agent’s request, the Servicer shall have delivered to the Administrative Agent at least three (3) days prior to such Loan an interim Monthly Report showing the amount of Eligible Receivables; (c) the Administrative Agent shall have received such other approvals, opinions or documents as it may reasonably request and (d) on each Borrowing Date, on each date of a Letter of Credit Request and on the date of each Release, the following statements shall be true (and acceptance of the proceeds of such Loan, issuance of such Letter of Credit or Release shall be deemed a representation and warranty by the Borrower that such statements are then true):
