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

Conditions Precedent to All Letters of Credit and Loans. The obligation of the Issuing Bank to issue any Letter of Credit, and of each Bank to make any Loan, shall be subject to the further conditions precedent that (a) on the Borrowing Date of such Loan or the issuance date of such Letter of Credit, as the case may be, the following statements shall be true, and the Borrower, by virtue of its delivery of a Borrowing Request or a Letter of Credit Request, as applicable, shall be deemed to have certified to the Bank Group as of such date that (i) the representations and warranties contained in Article IV are true and correct on and as of such date, before and after giving effect to such Loan or Letter of Credit, as the case may be, and as though made on and as of such date, (ii) no Default or Event of Default has occurred and is continuing, or would result from such Loan or Letter of Credit, as the case may be, and (iii) no event has occurred that could reasonably be expected to have a Material Adverse Effect on the Borrower or any of its Subsidiaries and (b) the Administrative Agent shall not have received any notice under Section 5.01(e), Section 5.01(f), Section 5.01(g), or Section 5.01(h).

Appears in 1 contract

Samples: Credit Agreement (Marine Drilling Companies Inc)

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Conditions Precedent to All Letters of Credit and Loans. The obligation of the Issuing Bank to issue any Letter of Credit, and of each Bank to make any Loan, shall be subject to the further conditions precedent that (a) on the Borrowing Date of such Loan or the issuance date of such Letter of Credit, as the case may be, the following statements shall be true, and the Borrower, by virtue of its delivery of a Borrowing Request or a Letter of Credit Request, as applicable, shall be deemed to have certified to the Bank Group as of such date that (i) the representations and warranties contained in Article IV are true and correct on and as of such date, before and after giving effect to such Loan or Letter of Credit, as the case may be, and as though made on and as of such date, (ii) no Default or Event of Default has occurred and is continuing, or would result from such Loan or Letter of Credit, as the case may be, and (iii) no event has occurred that could reasonably be expected to have a Material Adverse Effect on the Borrower or any of its Subsidiaries and (b) the Administrative Agent shall not have received any notice under Section 5.01(e), Section 5.01(f), Section 5.01(g), or Section 5.01(h).

Appears in 1 contract

Samples: Credit Agreement (Marine Drilling Companies Inc)

Conditions Precedent to All Letters of Credit and Loans. The obligation of the Issuing Bank to issue any Letter of Credit, and of each Bank to make any Loan, shall be subject to the further conditions precedent that (a) on the Borrowing Date of such Loan or the issuance date of such Letter of Credit, as the case may be, the following statements shall be true, and the Borrower, by virtue of its delivery of a Borrowing Request or a Letter of Credit Request, as applicable, by any Borrower, each Borrower shall be deemed to have certified to the Bank Group as of such date that (i) the representations and warranties contained in Article IV are true and correct on and as of such date, before and after giving effect to such Loan or Letter of Credit, as the case may be, and as though made on and as of such date, unless they relate expressly to a prior date, (ii) no Default or Event of Default has occurred and is continuing, or would result from such Loan or Letter of Credit, as the case may be, and (iii) no event has occurred that could reasonably be expected to have a Material Adverse Effect on the any Borrower or any of its Subsidiaries and (b) the Administrative Agent shall not have received any notice under Section 5.01(e), Section 5.01(f), Section 5.01(g), or Section 5.01(h); provided, however, that the provisions of this Section 3.02 shall not affect the obligation of each Bank to make a Refunded Guilder Swing Line Loan in accordance with Section 2.01(e).

Appears in 1 contract

Samples: Credit Agreement (Core Laboratories N V)

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Conditions Precedent to All Letters of Credit and Loans. The obligation of the Issuing Bank to issue any Letter of Credit, and of each Bank to make any Loan, shall be subject to the further conditions precedent that (a) on the Borrowing Date of such Loan or the issuance date of such Letter of Credit, as the case may be, the following statements shall be true, and the Borrower, by virtue of its delivery of a Borrowing Request or a Letter of Credit Request, as applicable, by any Borrower, each Borrower shall be deemed to have certified to the Bank Group as of such date that (i) the representations and warranties contained in Article ARTICLE IV are true and correct on and as of such date, before and after giving effect to such Loan or Letter of Credit, as the case may be, and as though made on and as of such date, unless they relate expressly to a prior date, (ii) no Default or Event of Default has occurred and is continuing, or would result from such Loan or Letter of Credit, as the case may be, and (iii) no event has occurred that could reasonably be expected to have a Material Adverse Effect on the any Borrower or any of its Subsidiaries and (b) the Administrative Agent shall not have received any notice under Section 5.01(eSECTION 5.01(E), Section 5.01(fSECTION 5.01(F), Section 5.01(gSECTION 5.01(G), or Section 5.01(hSECTION 5.01(H).

Appears in 1 contract

Samples: Credit Agreement (Core Laboratories N V)

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