Common use of Conditions Precedent to All Credit Extensions and Releases Clause in Contracts

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: (a) each Facility Agent shall have received from the Servicer the Monthly Report most recently required to be delivered pursuant to Section 5.05. (b) the representations and warranties contained in Article IV shall be correct in all material respects (except that the materiality standard in this clause (b) shall not apply to any such representation or warranty that is qualified by a materiality standard by its terms) on and as of such date as though made on and as of such date unless such representation and warranties by their terms refer to an earlier date, in which case they shall be correct on and as of such earlier date; (c) no event has occurred and is continuing, or would result from such Credit Extension or Release, which constitutes an Event of Termination, a Servicer Default, a Potential Event of Termination or a Potential Servicer Default after taking into account application of Collections, prepayments and purchases of Receivables to occur on such date; (d) with respect to any Credit Extension, no event has occurred and is continuing, or would result from such Credit Extension which constitutes an Advance Suspension Event after taking into account application of Collections, prepayments and purchases of Receivables to occur on such date; (e) with respect to any Release, no Release Suspension Notice has been delivered with respect to any Advance Suspension Event that remains in effect; (f) the Termination Date has not occurred; and (g) no Borrowing Base Deficiency shall exist. Each delivery of a Borrowing Request to the Administrative Agent and the Facility Agents or of a Letter of Credit Request to the Administrative Agent and the Facility Agent for the applicable LC Issuer, and the acceptance by the Borrower of the proceeds of any Borrowing or any Release or of any Letter of Credit as contemplated in Section 2.04, shall constitute a representation and warranty by the Borrower that, as of the date of such Credit Extension or Release, both before and after giving effect thereto and the application of the proceeds thereof, each of the applicable statements set forth in clauses (a) through (g) above are true and correct.

Conditions Precedent to All Credit Extensions and Releases. Each Credit Extension Borrowing (including, without limitation, the Initial Credit ExtensionBorrowing) made by the Lenders or one or more LC Issuers, as the case may be, to the Borrower 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 Extension or Release, each of the following shall be true and correct both before and immediately after giving effect to such Borrowing, Letter of Credit Extension or Release, as applicable: (a) each Facility Agent (i) the Servicer shall have received from delivered to each Managing Agent and each Issuing Lender, as applicable, on or prior to the Servicer date of such Borrowing or Release, the Monthly Report and Weekly Report, as applicable, most recently required to be delivered pursuant to Section 5.05.6.07 and such report or reports shall be satisfactory to the Managing Agents; (ii) upon the request of any Managing Agent or any Issuing Lender, as applicable, the Servicer shall have delivered to the Managing Agents at least two (2) days prior to such Borrowing or Release an interim Monthly Report showing the amount of Eligible Receivables and (iii) the Servicer and the Borrower shall have delivered to any Managing Agent and any Issuing Lender, as applicable, such other documents or other information as it may reasonably request; (b) the representations and warranties contained in Article IV shall be correct in all material respects (except that the materiality standard in this clause (b) shall not apply to any such representation or warranty that is qualified by a materiality standard by its terms) on and as of such date as though made on and as of such date unless such representation and warranties by their terms refer to an earlier date, in which case they shall be correct in all material respects on and as of such earlier datedate (except that the materiality standard in this clause (b) shall not apply to any such representation or warranty that is expressly qualified by a materiality standard or contains any carve-out or exception based on a Material Adverse Effect by its express terms); (c) no event has occurred and is continuing, or would result from such Credit Extension or Release, Borrowing which constitutes an Event of Termination, a Servicer Default, a Potential Termination or an Incipient Event of Termination or a Potential Servicer Default after taking into account application of Collections, prepayments and purchases of Receivables to occur on such dateTermination; (d) with respect to any Credit Extension, no event has occurred and is continuing, or would result from such Credit Extension which constitutes an Advance Suspension Event after taking into account application of Collections, prepayments and purchases of Receivables to occur on such date; (e) with respect to any Release, no Release Suspension Notice has been delivered with respect to any Advance Suspension Event that remains in effect; (f) the Termination Date has not occurred; and; (ge) no Borrowing Base Deficiency shall exist. Each delivery of a Borrowing Request to the Administrative Agent and the Facility Agents or of a Letter of Credit Request to the Administrative Agent and the Facility Agent for the applicable LC Issuer, and the acceptance by the Borrower of the proceeds of any Borrowing or any Release or of any Letter of Credit as contemplated in Section 2.04, shall constitute a representation and warranty by the Borrower that, as of the date of such Credit Extension or Release, both before and after giving effect thereto and the application of the proceeds thereof, each of the applicable statements set forth in clauses (a) through (g) above are true and correct.;

Conditions Precedent to All Credit Extensions and Releases. Each Credit Extension Borrowing (including, without limitation, the Initial Credit ExtensionBorrowing) made by the Lenders or one or more LC Issuers, as the case may be, to the Borrower 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 Extension or Release, each of the following shall be true and correct both before and immediately after giving effect to such Borrowing, Letter of Credit Extension or Release, as applicable: (a) each Facility Agent (i) the Servicer shall have received from delivered to each Managing Agent and each Issuing Lender, as applicable, on or prior to the Servicer date of such Borrowing or Release, the Monthly Report and Weekly Report, as applicable, most recently required to be delivered pursuant to Section 5.05.6.07 and such report or reports shall be satisfactory to the Managing Agents; (ii) upon the request of any Managing Agent or any Issuing Lender, as applicable, the Servicer shall have delivered to the Managing Agents at least two (2) days prior to such Borrowing or Release an interim Monthly Report showing the amount of Eligible Receivables and (iii) the Servicer and the Borrower shall have delivered to any Managing Agent and any Issuing Lender, as applicable, such other documents or other information as it may reasonably request; (b) the representations and warranties contained in Article IV shall be correct in all material respects (except that the materiality standard in this clause (b) shall not apply to any such representation or warranty that is qualified by a materiality standard by its terms) on and as of such date as though made on and as of such date unless such representation and warranties by their terms refer to an earlier date, in which case they shall be correct in all material respects on and as of such earlier datedate (except that the materiality standard in this clause (b) shall not apply to any such representation or warranty that is expressly qualified by a materiality standard or contains any carve-out or exception based on a Material Adverse Effect by its express terms); (c) no event has occurred and is continuing, or would result from such Credit Extension or Release, Borrowing which constitutes an Event of Termination, a Servicer Default, a Potential Termination or an Incipient Event of Termination or a Potential Servicer Default after taking into account application of Collections, prepayments and purchases of Receivables to occur on such dateTermination; (d) with respect to any Credit Extension, no event has occurred and is continuing, or would result from such Credit Extension which constitutes an Advance Suspension Event after taking into account application of Collections, prepayments and purchases of Receivables to occur on such date; (e) with respect to any Release, no Release Suspension Notice has been delivered with respect to any Advance Suspension Event that remains in effect; (f) the Termination Date has not occurred; and; (ge) no Borrowing Base Deficiency shall exist; (f) only with respect to any such Borrowing requested to be made by a Conduit Lender, the related Managing Agent shall not have delivered to the Borrower a notice stating that such Conduit Lender shall not make any further Loans hereunder; and (g) with respect to any issuance of a Letter of Credit, the applicable Issuing Lender shall have received evidence reasonably satisfactory to it that the Letter of Credit Collateral Account shall have been established and is under the exclusive control of the Administrative Agent, on behalf of the Issuing Lenders. Each delivery of a Borrowing Request to the Administrative Agent and the Facility Agents or of a Letter of Credit Request to the Administrative Agent and the Facility Agent for the applicable LC IssuerManaging Agents or Issuing Lenders, as applicable, and the acceptance by the Borrower of the proceeds of any Borrowing or any Release or of any Letter of Credit as contemplated in Section 2.04Release, shall constitute a representation and warranty by the Borrower that, as of the date of such Credit Extension Letter of Credit, Borrowing or Release, both before and after giving effect thereto and the application of the proceeds thereof, each of the applicable statements set forth in clauses (a) through (gf) (as applicable) above are true and correct.

Conditions Precedent to All Credit Extensions and Releases. Each Credit Extension Borrowing (including, without limitation, the Initial Credit ExtensionBorrowing) made by the Lenders or one or more LC Issuers, as the case may be, to the Borrower Borrower, each issuance of a Letter of Credit (including, without limitation, the initial Letter of Credit) by the Issuing Lender and each Release, shall be subject to the further conditions precedent that on the date of each Borrowing, Letter of Credit Extension or Release, each of the following shall be true and correct both before and immediately after giving effect to such Borrowing, Letter of Credit Extension or Release, as applicable: (a) each Facility Agent (i) the Servicer shall have received from delivered to each Managing Agent and the Servicer Issuing Lender, as applicable, on or prior to the date of such Borrowing or Release, the Monthly Report and Weekly Report, as applicable, most recently required to be delivered pursuant to Section 5.05.6.07 and such report or reports shall be satisfactory to the Managing Agents; (ii) upon the request of any Managing Agent and the Issuing Lender, as applicable, the Servicer shall have delivered to the Managing Agents at least two (2) days prior to such Borrowing or Release an interim Monthly Report showing the amount of Eligible Receivables and (iii) the Servicer and the Borrower shall have delivered to any Managing Agent and the Issuing Lender, as applicable, such other documents or other information as it may reasonably request; (b) the representations and warranties contained in Article IV shall be correct in all material respects (except that the materiality standard in this clause (b) shall not apply to any such representation or warranty that is qualified by a materiality standard by its terms) on and as of such date as though made on and as of such date unless such representation and warranties by their terms refer to an earlier date, in which case they shall be correct in all material respects on and as of such earlier datedate (except that the materiality standard in this clause (b) shall not apply to any such representation or warranty that is expressly qualified by a materiality standard or contains any carve-out or exception based on a Material Adverse Effect by its express terms); (c) no event has occurred and is continuing, or would result from such Credit Extension or Release, Borrowing which constitutes an Event of Termination, a Servicer Default, a Potential Termination or an Incipient Event of Termination or a Potential Servicer Default after taking into account application of Collections, prepayments and purchases of Receivables to occur on such dateTermination; (d) with respect to any Credit Extension, no event has occurred and is continuing, or would result from such Credit Extension which constitutes an Advance Suspension Event after taking into account application of Collections, prepayments and purchases of Receivables to occur on such date; (e) with respect to any Release, no Release Suspension Notice has been delivered with respect to any Advance Suspension Event that remains in effect; (f) the Termination Date has not occurred; and; (ge) no Borrowing Base Deficiency shall exist; and (f) only with respect to any such Borrowing requested to be made by a Conduit Lender, the related Managing Agent shall not have delivered to the Borrower a notice stating that such Conduit Lender shall not make any further Loans hereunder. Each delivery of a Borrowing Request to the Administrative Agent and the Facility Agents or of a Letter of Credit Request to the Administrative Agent and the Facility Agent for the applicable LC IssuerManaging Agents or Issuing Lender, as applicable, and the acceptance by the Borrower of the proceeds of any Borrowing or any Release or of any Letter of Credit as contemplated in Section 2.04Release, shall constitute a representation and warranty by the Borrower that, as of the date of such Credit Extension Letter of Credit, Borrowing or Release, both before and after giving effect thereto and the application of the proceeds thereof, each of the applicable statements set forth in clauses (a) through (gf) (as applicable) above are true and correct.

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: (a) (i) each Facility Agent shall have received from the Servicer the Monthly Report most recently required to be delivered pursuant to Section 5.05, (ii) in the case of a Credit Extension that is a Loan, the Administrative Agent and each Facility Agent shall have received a Borrowing Request and (iii) in the case of a Credit Extension that is an LC Credit Extension, the Administrative Agent and the Facility Agent for the applicable LC Issuer shall have received a Letter of Credit Request. (b) the representations and warranties contained in Article IV shall be correct in all material respects (except that the materiality standard in this clause (b) shall not apply to any such representation or warranty that is qualified by a materiality standard by its terms) on and as of such date as though made on and as of such date unless such representation and warranties by their terms refer to an earlier date, in which case they shall be correct on and as of such earlier date; (c) no event has occurred and is continuing, or would result from such Credit Extension or Release, which constitutes an Event of Termination, a Servicer Default, a Potential Event of Termination or a Potential Servicer Default after taking into account application of Collections, prepayments and purchases of Receivables to occur on such date; (d) with respect to any Credit Extension, no event has occurred and is continuing, or would result from such Credit Extension which constitutes an Advance Suspension Event after taking into account application of Collections, prepayments and purchases of Receivables to occur on such date; (e) with respect to any Release, no Release Suspension Notice has been delivered with respect to any Advance Suspension Event that remains in effect; (f) the Termination Date has not occurred; and (g) no Borrowing Base Deficiency shall exist. Each delivery of a Borrowing Request to the Administrative Agent and the Facility Agents or of a Letter of Credit Request to the Administrative Agent and the Facility Agent for the applicable LC Issuer, and the acceptance by the Borrower of the proceeds of any Borrowing or any Release or of any Letter of Credit as contemplated in Section 2.04, shall constitute a representation and warranty by the Borrower that, as of the date of such Credit Extension or Release, both before and after giving effect thereto and the application of the proceeds thereof, each of the applicable statements set forth in clauses (a) through (g) above are true and correct.