Common use of Conditions Precedent to Conversions and Continuations Clause in Contracts

Conditions Precedent to Conversions and Continuations. The obligation of the Lenders to convert any existing Base Rate Advance into a LIBOR Advance or to continue any existing LIBOR Advance is subject to the condition precedent that on the date of such conversion or continuation no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation. The acceptance of the benefits of each such conversion and continuation shall constitute a representation and warranty by the Borrower to each of the Lenders that no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation.

Appears in 12 contracts

Samples: Credit Agreement (Signature Resorts Inc), Credit Agreement (Pc Service Source Inc), Credit Agreement (Power One Inc)

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Conditions Precedent to Conversions and Continuations. The ----------------------------------------------------- obligation of the Lenders to convert any existing Base Rate Advance into a LIBOR Advance or to continue any existing LIBOR Advance is subject to the condition precedent that on the date of such conversion or continuation no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation. The acceptance of the benefits of each such conversion and continuation shall constitute a representation and warranty by the Borrower to each of the Lenders that no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation.

Appears in 4 contracts

Samples: Credit Agreement (Safeguard Scientifics Inc Et Al), Credit Agreement (Doskocil Manufacturing Co Inc), Credit Agreement (Compucom Systems Inc)

Conditions Precedent to Conversions and Continuations. The obligation of the Lenders to convert any existing Base Rate Advance into a LIBOR Advance or to continue any existing LIBOR Advance is subject to the condition precedent that on the date of such conversion or continuation no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation. The acceptance of the benefits of each such conversion and continuation shall constitute a representation and warranty by the Borrower to each of the Lenders that no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation.

Appears in 3 contracts

Samples: Credit Agreement (Homco Puerto Rico Inc), Credit Agreement (Netcom Systems Inc), Credit Agreement (Netcom Systems Inc)

Conditions Precedent to Conversions and Continuations. The obligation of the Lenders to convert any existing Base Rate Advance into a LIBOR Advance or to continue any existing LIBOR Advance as provided in Section 2.2(c) is subject to the condition precedent that on the date of such conversion or continuation no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation. The acceptance of the benefits of each such conversion and continuation shall constitute a representation and warranty by the Borrower to each of the Lenders that no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation.

Appears in 1 contract

Samples: Credit Agreement (Kevco Inc)

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Conditions Precedent to Conversions and Continuations. The obligation of the Lenders to convert any existing Base Rate Advance or any portion thereof into a LIBOR Advance or to continue any existing LIBOR Advance is subject to the condition precedent that on the date of such conversion or continuation no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation. The acceptance of the benefits of each such conversion and continuation shall constitute a representation and warranty by the Borrower to each of the Lenders that no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation.

Appears in 1 contract

Samples: Credit Agreement (Clubcorp Inc)

Conditions Precedent to Conversions and Continuations. The obligation of the Lenders to convert any existing Base Rate Advance or any portion thereof into a LIBOR Advance or to continue any existing LIBOR Advance is subject to the condition precedent that on the date of such conversion or continuation no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation. The acceptance of the benefits of each such conversion and continuation shall constitute a representation and warranty by the Borrower Company to each of the Lenders that no Default or Event of Default shall have occurred and be continuing or would result from the making of such conversion or continuation.

Appears in 1 contract

Samples: Credit Agreement (Petsmart Inc)

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