Conditions Precedent to Each Borrowing and Commitment Increase Sample Clauses

Conditions Precedent to Each Borrowing and Commitment Increase. (a) The obligation of each Lender to make an Advance (other than a Swing Line Advance made by a Lender pursuant to Section 2.02(b)) on the occasion of each Borrowing (including the initial Borrowing) and a Commitment Increase pursuant to Section 2.16 and the right of a Borrower to request a Swing Line Borrowing shall be subject to the further conditions precedent that on the date of such Borrowing or increase the following statements shall be true and the Administrative Agent shall have received for the account of such Lender or the applicable Swing Line Bank (x) an Unencumbered Assets Certificate dated the date of such Borrowing or increase and (y) a certificate signed by a duly authorized officer of the applicable Borrower, dated the date of such Borrowing or increase stating that: (i) the representations and warranties contained in each Loan Document are true and correct on and as of such date, before and after giving effect to (A) such Borrowing or increase and (B) in the case of any Borrowing, the application of the proceeds therefrom, as though made on and as of such date (except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and warranties shall have been true and correct on and as of such earlier date)); (ii) no Default or Event of Default has occurred and is continuing, or would result from (A) such Borrowing or increase or (B) in the case of any Borrowing, from the application of the proceeds therefrom; and (iii) for each Advance, (A) 70% of the Total Unencumbered Asset Value equals or exceeds the Unsecured Debt of the Borrowers, their Subsidiaries and the Sister Subsidiaries that will be outstanding after giving effect to such Advance, issuance or renewal, respectively, and (B) before and after giving effect to such Advance, the Loan Parties shall be in compliance with the covenants contained in Section 5.04, together with supporting information in form satisfactory to the Administrative Agent showing the computations used in determining compliance with such covenants; and (b) the Administrative Agent shall have received such other approvals, opinions or documents as any Lender through the Administrative Agent may reasonably request in order to confirm (i) the accuracy of the Loan Parties’ representations and warranties contained in the Loan Documents, (ii) the Loan Parties’ timely compliance with the terms, covenants and agreements set forth in the Loan Documents, (iii...