Common use of Conditions Precedent to all Drawdowns Clause in Contracts

Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the Lenders: (a) the appropriate Notice of Drawdown, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.2; (b) no Event of Default or Default will have occurred and be continuing; (c) subject to Section 13.2, each of the representations and warranties set out in Article 13 (other than in Section 13.1(j) hereof which will not be restated and that made in Section 13.1(n) hereof and Clause 3.13 of the KNOC Guarantee which will be restated as of the date referred to therein or first given) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 will have been provided by the Borrower and the other provisions of Section 6.3, if applicable, will have been complied with.

Appears in 2 contracts

Samples: Credit Agreement (Harvest Operations Corp.), Credit Agreement (Harvest Operations Corp.)

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Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances under the Credit Facility (under either Tranche) will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the LendersLenders under the applicable Tranche: (a) the appropriate Notice of DrawdownBorrowing, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.26.2, but subject to Section 3.10; (b) no Default or Event of Default or Default will have occurred and be continuingcontinuing and no Default or Event of Default shall occur as a result of the making of the applicable Advance; (c) subject to Section 13.2, each of the representations and warranties set out in Article 13 (other than in Section 13.1(j) hereof which will not be restated and that made in Section 13.1(n) hereof and Clause 3.13 of the KNOC Guarantee which will be restated as of the date referred to therein or first given) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 7.2 will have been provided by the Borrower and the other provisions of Section 6.37.2, if applicable, will have been complied with.

Appears in 1 contract

Samples: Credit Agreement (Penn West Petroleum Ltd.)

Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances under the Credit Facility will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the Lenders: (a) the appropriate Notice of DrawdownBorrowing, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.26.2, but subject to Section 3.10; (b) no Default or Event of Default or Default will have occurred and be continuingcontinuing and no Default or Event of Default shall occur as a result of the making of the applicable Advance; (c) subject to Section 13.2, each of the representations and warranties set out in Article 13 (other than in Section 13.1(j) hereof which will not be restated and that made in Section 13.1(n) hereof and Clause 3.13 of the KNOC Guarantee which will be restated as of the date referred to therein or first given) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 7.2 will have been provided by the Borrower and the other provisions of Section 6.37.2, if applicable, will have been complied with.

Appears in 1 contract

Samples: Credit Agreement (Penn West Energy Trust)

Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances under the Credit Facility will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the Lenders: (a) the appropriate Notice of Drawdown, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.2; (b) no Event of Default or Default will have occurred and be continuing; (c) subject to Section 13.2, each of the representations and warranties set out in Article 13 (other than in Section 13.1(j13.1(n) hereof which will not be restated and that made in Section 13.1(n) hereof and Clause 3.13 of the KNOC Guarantee which will be restated as of the date referred to therein or first giventherein) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 will have been provided by the Borrower and the other provisions of Section 6.3, if applicable, will have been complied with.

Appears in 1 contract

Samples: Credit Agreement (Harvest Energy Trust)

Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances under the Credit Facility will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the Lenders: (a) the appropriate Notice of DrawdownBorrowing, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.26.2, but subject to Section 3.10; (b) no Default or Event of Default or Default will have occurred and be continuingcontinuing and no Default or Event of Default shall occur as a result of the making of the applicable Advance; (c) subject to Section 13.2, each of the representations and warranties set out in Article 13 (other than in Section 13.1(j) hereof which will not be restated and that made in Section 13.1(n) hereof and Clause 3.13 of the KNOC Guarantee which will be restated as of the date referred to therein or first given) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 7.2 will have been provided by the Borrower and the other provisions of Section 6.37.2, if applicable, will have been complied with.

Appears in 1 contract

Samples: Credit Agreement (Penn West Energy Trust)

Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances under any Credit Facility will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the LendersLenders under such Credit Facility: (a) the appropriate Notice of Drawdown, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.2; (b) no Event of Default or Default will have occurred and be continuing; (c) subject to Section 13.2, each of the representations and warranties set out in Article 13 (other than in Section 13.1(j) hereof which will not be restated and that made in Section 13.1(n) hereof and Clause 3.13 of the KNOC Guarantee which will be restated as of the date referred to therein or first giventherein) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 will have been provided by the Borrower and the other provisions of Section 6.3, if applicable, will have been complied with.

Appears in 1 contract

Samples: Credit Agreement (Harvest Energy Trust)

Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the Lenders: (a) the appropriate Notice of Drawdown, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.2; (b) no Event of Default or Default will have occurred and be continuing;; and (c) subject to Section 13.2, each of the representations and warranties set out in Article 13 (other than in Section 13.1(j) hereof which will not be restated and that made in Section 13.1(n) hereof and Clause 3.13 of the KNOC Guarantee which will be restated as of the date referred to therein or first giventherein) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 will have been provided by the Borrower and the other provisions of Section 6.3, if applicable, will have been complied with.

Appears in 1 contract

Samples: Credit Agreement (Harvest Operations Corp.)

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Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances under the Credit Facility will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the Lenders: (a) the appropriate Notice of DrawdownBorrowing, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.26.2, but subject to Section 3.9; (b) no Default or Event of Default or Default will have occurred and be continuingcontinuing and no Default or Event of Default shall occur as a result of the making of the Advances; (c) subject to Section 13.214.2, each of the representations and warranties set out in Article 13 (other than in Section 13.1(j) hereof which will not be restated and that made in Section 13.1(n) hereof and Clause 3.13 of the KNOC Guarantee which will be restated as of the date referred to therein or first given) 14 will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 7.2 will have been provided by the Borrower and the other provisions of Section 6.37.2, if applicable, will have been complied with.

Appears in 1 contract

Samples: Credit Agreement (Penn West Energy Trust)

Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances under the Credit Facility will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the Lenders: (a) the appropriate Notice of DrawdownBorrowing, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.26.2, but subject to Section 3.9; (b) no Default or Event of Default or Default will have occurred and be continuingcontinuing and no Default or Event of Default shall occur as a result of the making of the applicable Advance; (c) subject to Section 13.2, each of the representations and warranties set out in Article 13 (other than in Section 13.1(j) hereof which will not be restated and that made in Section 13.1(n) hereof and Clause 3.13 of the KNOC Guarantee which will be restated as of the date referred to therein or first given) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 7.2 will have been provided by the Borrower and the other provisions of Section 6.37.2, if applicable, will have been complied with.

Appears in 1 contract

Samples: Credit Agreement (ENERPLUS Corp)

Conditions Precedent to all Drawdowns. The Lenders' obligation to provide Advances will be subject to and conditional upon the following conditions precedent being met, unless waived in writing by the Lenders: (a) the appropriate Notice of Drawdown, Notice of Rollover or Notice of Conversion will have been delivered in accordance with the notice provisions provided in Section 5.2; (b) no Event of Default or Default will have occurred and be continuing; (c) subject to Section 13.2, each of the representations and warranties set out in Article 13 (other than in Section 13.1(j) hereof which will not be restated and that made in Section 13.1(n) hereof and Clause 3.13 of the KNOC Guarantee which will be restated as of the date referred to therein or first giventherein) will be true and correct with the same effect as if such representations and warranties had been made on the date of such Advance; and (d) the notice with respect to a Hostile Acquisition if required to be given pursuant to Section 6.3 will have been provided by the Borrower and the other provisions of Section 6.3, if applicable, will have been complied with.

Appears in 1 contract

Samples: Credit Agreement (Harvest Operations Corp.)

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