Conditions Precedent to Each Borrowing and Issuance and any Extension. The obligation of each Appropriate Lender to make an Advance (other than a Letter of Credit Advance made by the Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03(c) and a Swing Line Advance made by a Revolving Credit Lender pursuant to Section 2.02(b)) on the occasion of each Borrowing (including the initial Borrowing), and the obligation of the Issuing Bank to issue a Letter of Credit (including the initial issuance) and the right of the Borrower to request a Swing Line Borrowing and, if requested by the Borrower, the extension of the Termination Date pursuant to Section 2.17, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or extension (a) the following statements shall be true and the Administrative Agent shall have received for the account of such Lender or the Issuing Bank a certificate signed by a duly authorized officer of the Borrower, dated the date of such Borrowing or issuance or extension, stating that: (i) the representations and warranties contained in each Loan Document are correct on and as of such date, before and after giving effect to such Borrowing or issuance or extension and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their terms, refer to a specific date other than the date of such Borrowing or issuance or extension; and (ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or extension or from the application of the proceeds therefrom; and (b) the Administrative Agent shall have received such other approvals, opinions or documents as the Administrative Agent may reasonably request.
Appears in 3 contracts
Samples: Credit Agreement (Grubb & Ellis Co), Credit Agreement (Grubb & Ellis Co), Credit Agreement (Grubb & Ellis Co)
Conditions Precedent to Each Borrowing and Issuance and any Extension. The obligation of each Appropriate Lender to make an Advance (other than a Letter of Credit Advance made by the Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03(c) and a Swing Line Advance made by a Revolving Credit Lender pursuant to Section 2.02(b)) on the occasion of each Borrowing (including the initial Borrowing), and the obligation of the Issuing Bank to issue a Letter of Credit (including the initial issuance) and the right of the Borrower to request a Swing Line Borrowing and, if requested by the Borrower, the extension of the Termination Date pursuant to Section 2.172.16, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or extension extension:
(a) the following statements shall be true and the Administrative Agent shall have received for the account of such Lender or the Issuing Bank a certificate signed by a duly authorized officer of the Borrower, dated the date of such Borrowing or issuance or extension, stating that:
(i) the representations and warranties contained in each Loan Document are correct on and as of such date, before and after giving effect to such Borrowing or issuance or extension and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their terms, refer to a specific date other than the date of such Borrowing or issuance or extensionextension (subject to the updating of the Schedules with such information that would not otherwise reflect a Default); and
(ii) no Default has occurred and is continuing, or would result from such Borrowing or issuance or extension or from the application of the proceeds therefrom; and and
(b) other than with respect to the Term Advance, the Administrative Agent shall have received such other approvals, opinions or documents as any Lender Party through the Administrative Agent may reasonably request.
Appears in 1 contract
Samples: Credit Agreement (Boca Resorts Inc)