Common use of Conditions Precedent to Each Borrowing and Issuance Clause in Contracts

Conditions Precedent to Each Borrowing and Issuance. The obligation of each Lender to make an Advance (including the initial Advance but other than a Letter of Credit Advance), and the right of any Borrower to request the issuance of Letters of Credit, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance, the following statements shall be true and any Notice of Borrowing delivered to the Appropriate Agent hereunder shall certify that, as of the date of the Borrowing requested thereunder: (a) the representations and warranties contained in each Loan Document will be correct on and as of the date of such Borrowing or issuance, before and after giving effect to such Borrowing or issuance and to the application of the proceeds therefrom, as though made on and as of such date, and request for the issuance of a Letter of Credit delivered to the Issuing Bank hereunder other than any such representations or warranties that, by their terms, refer to a date other than the date of such Borrowing or issuance; (b) no event shall have occurred and be continuing, or would result from such Borrowing or issuance or from the application of the proceeds therefrom, that constitutes or would constitute a Default; and (c) such Borrowing is permitted under Section 2.01(a), if such Borrowing is a Multi-Currency Borrowing, or Section 2.01(b), if such Borrowing is a Canadian Subsidiary Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Agco Corp /De), Credit Agreement (Agco Corp /De)

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Conditions Precedent to Each Borrowing and Issuance. The obligation of each Lender to make an Advance a Loan (including the initial Advance Loan but other than a Letter of Credit Advance), and the right of any Borrower to request the issuance of Letters of Credit, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance, the following statements shall be true and any Notice of Borrowing delivered to the Appropriate Administrative Agent hereunder shall certify that, as of the date of the Borrowing requested thereunder: (a) the representations and warranties contained in each Loan Document will be correct on and as of the date of such Borrowing or issuance, before and after giving effect to such Borrowing or issuance and to the application of the proceeds therefrom, as though made on and as of such date, and request for the issuance of a Letter of Credit delivered to the Issuing Bank hereunder other than any such representations or warranties that, as permitted by their terms, refer to a date other than the date of such Borrowing or issuanceSection 4.2; (b) no event shall have occurred and be continuing, or would result from such Borrowing or issuance or from the application of the proceeds therefrom, that constitutes or would constitute a Default or Event of Default; (c) if the applicable Borrower is a Designated Borrower, then the conditions of Section 2.13 to designate such Borrower as a Designated Borrower shall have been met to the satisfaction of the Administrative Agent; and (cd) such Borrowing is permitted under Section 2.01(a2.1(a), if such Borrowing is a Multi-Currency Borrowing, or Section 2.01(b), if such Borrowing is a Canadian Subsidiary Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Agco Corp /De)

Conditions Precedent to Each Borrowing and Issuance. The obligation of each Lender to make an Advance a Loan (including initial Loans made on the initial Advance Agreement Date but other than a excluding any Letter of Credit Advance), and the right of any Borrower to request the issuance of Letters of CreditCredit by an Issuing Bank, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance, the following statements shall be true and any Notice of Borrowing or Notice of Issuance delivered to the Appropriate Administrative Agent hereunder shall certify that, as of the date of the Borrowing requested thereunder: : (a) the representations and warranties contained in each Loan Document will be correct on and as of the date of such Borrowing or issuance, before and after giving effect to such Borrowing or issuance and to the application of the proceeds therefrom, as though made on and as of such date, and request for the issuance of a Letter of Credit by an Issuing Bank delivered to the such Issuing Bank hereunder hereunder, in each case other than any such representations or warranties that, as permitted by their terms, refer to a date other than the date of such Borrowing or issuance; Section 4.2; (b) no event shall have occurred and be continuing, or would result from such Borrowing or issuance or from the application of the proceeds therefrom, that constitutes or would constitute a Default or Event of Default; and (c) such Borrowing is permitted under Section 2.01(a), if such Borrowing the applicable Borrower is a Multi-Currency BorrowingDesignated Borrower, or Section 2.01(b), if such Borrowing is a Canadian Subsidiary Borrowing.then the conditions of Section

Appears in 1 contract

Samples: Credit Agreement (Agco Corp /De)

Conditions Precedent to Each Borrowing and Issuance. The obligation of each Lender to make an Advance on the occasion of each Borrowing (including the initial Advance but other than a Letter of Credit Advance), and the right of any Borrower to request the issuance of Letters of Credit, Borrowing) shall be subject to the further conditions precedent that on the date of such Borrowing or issuance, : (a) the following statements shall be true (and any each of the giving of the applicable Notice of Borrowing delivered to and the Appropriate Agent hereunder acceptance by the Borrower of the proceeds of such Borrowing shall certify that, as of constitute a representation and warranty by the Borrower that on the date of the such Borrowing requested thereunder:or issuance such statements are true): (ai) the representations and warranties contained in each Loan Document will be are correct in all material respects on and as of the date of such Borrowing or issuanceBorrowing, before and after giving effect to such Borrowing or issuance and to the application of the proceeds therefrom, as though made on and as of such date, and request for the issuance of a Letter of Credit delivered to the Issuing Bank hereunder 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;, in which case such representations and warranties shall be correct as of such specific date, and (bii) no event shall have has occurred and be is continuing, or would result from such Borrowing or issuance or from the application of the proceeds therefrom, that constitutes or would constitute a Default; and (cb) the Documentation Agent shall have received such Borrowing is permitted under Section 2.01(a)other approvals or documents, if such Borrowing is a Multi-Currency Borrowingany, or Section 2.01(b), if such Borrowing is a Canadian Subsidiary Borrowingas any Lender through the Documentation Agent may reasonably request.

Appears in 1 contract

Samples: Credit Agreement (Warnaco Group Inc /De/)

Conditions Precedent to Each Borrowing and Issuance. The obligation of each Lender to make an Advance (including the initial Advance but other than a Letter of Credit Advance), and the right of any Borrower to request the issuance of Letters of Credit, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance, the following statements shall be true and any Notice of Borrowing delivered to the Appropriate Agent hereunder shall certify that, as of the date of the Borrowing requested thereunder: (a) the representations and warranties contained in each Loan Document will be correct on and as of the date of such Borrowing or issuance, before and after giving effect to such Borrowing or issuance and to the application of the proceeds therefrom, as though made on and as of such date, and request for the issuance of a Letter of Credit delivered to the Issuing Bank hereunder other than any such representations or warranties that, as permitted by their terms, refer to a date other than the date of such Borrowing or issuanceSection 4.2; (b) no event shall have occurred and be continuing, or would result from such Borrowing or issuance or from the application of the proceeds therefrom, that constitutes or would constitute a Default; and (c) such Borrowing is permitted under Section 2.01(a2.1(a), if such Borrowing is a Multi-Currency Borrowing, or Section 2.01(b2.1(b), if such Borrowing is a Canadian Subsidiary Facility Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Agco Corp /De)

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Conditions Precedent to Each Borrowing and Issuance. The obligation of each Lender to make an Advance a Loan (including the initial Advance Loan but other than a Letter of Credit Advance), and the right of any Borrower to request the issuance of Letters of Credit, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance, the following statements shall be true and any Notice of Borrowing delivered to the Appropriate Agent hereunder shall certify that, as of the date of the Borrowing requested thereunder: (a) the representations and warranties contained in each Loan Document will be correct on and as of the date of such Borrowing or issuance, before and after giving effect to such Borrowing or issuance and to the application of the proceeds therefrom, as though made on and as of such date, and request for the issuance of a Letter of Credit delivered to the Appropriate Issuing Bank hereunder other than any such representations or warranties that, as permitted by their terms, refer to a date other than the date of such Borrowing or issuanceSection 4.2; (b) no event shall have occurred and be continuing, or would result from such Borrowing or issuance or from the application of the proceeds therefrom, that constitutes or would constitute a Default or Event of Default; and (c) such Borrowing is permitted under Section 2.01(a2.1(a), if such Borrowing is a Multi-Currency Borrowing, or Section 2.01(b2.1(b), if such Borrowing is a Canadian Subsidiary Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Agco Corp /De)

Conditions Precedent to Each Borrowing and Issuance. The obligation of each Appropriate Lender to make an Advance (including the initial Advance but other than a Letter of Credit AdvanceAdvance made by the Issuing Bank or a Revolving Credit Lender pursuant to Section 2.03(c) on the occasion of each Borrowing (including the Initial Extension of Credit), and the right obligation of any Borrower the Issuing Bank to request issue a Letter of Credit (including the issuance of Letters of Creditinitial issuance), shall be subject to the further conditions precedent that on the date of such Borrowing or issuance, (a) the following statements shall be true (and any each of the giving of the applicable Notice of Borrowing delivered to or Notice of Issuance and the Appropriate Agent hereunder acceptance by the Borrower of the proceeds of such Borrowing or of such Letter of Credit shall certify that, as of constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Borrowing requested thereunder:or issuance such statements are true): (ai) the representations and warranties contained in each Loan Document will be are correct in all material respects on and as of the date of such Borrowing or issuancedate, before and after giving effect to such Borrowing or issuance and to the application of the proceeds therefrom, as though made on and as of such date, and request for the issuance of a Letter of Credit delivered to the Issuing Bank hereunder 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;, in which case as of such specific date; and (bii) no event shall have has occurred and be is continuing, or would result from such Borrowing or issuance or from the application of the proceeds therefrom, that constitutes or would constitute a Default; , and (c) such Borrowing is permitted under Section 2.01(a), if such Borrowing is a Multi-Currency Borrowing, or Section 2.01(b), if such Borrowing is a Canadian Subsidiary Borrowing.

Appears in 1 contract

Samples: Credit Agreement (International Rectifier Corp /De/)

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