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

Conditions Precedent to Each Borrowing and Issuance. The right of the Borrowers to request and the obligation of each Appropriate Lender to make an Advance (other than a Letter of Credit Advance made by an Issuing Bank or a Working Capital Lender pursuant to Section 2.03(c) and a Swing Line Advance made by a Working Capital Lender pursuant to Section 2.02(b)) on the occasion of each Borrowing (including the Initial Extension of Credit), and the right of the Borrowers to request and the obligation of each Issuing Bank to issue a Letter of Credit (including the initial issuance) and the right of the Borrowers to request a Swing Line 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 each of the giving of the applicable Notice of Borrowing, Notice of Swing Line Borrowing or Notice of Issuance and the acceptance by the relevant Borrower of the proceeds of such Borrowing or of such Letter of Credit shall constitute a representation and warranty by such Borrower that both on the date of such notice and on the date of such Borrowing or issuance such statements are true):

Appears in 2 contracts

Samples: Credit Agreement (Crompton & Knowles Corp), Credit Agreement (Uniroyal Chemical Co Inc)

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Conditions Precedent to Each Borrowing and Issuance. The right of the Borrowers to request and the obligation of each Appropriate Lender to make an Advance (other than a Letter of Credit Advance made by an the Issuing Bank or a Working Capital Lender pursuant to Section 2.03(c) and a Swing Line Advance made by a Working Capital Lender pursuant to Section 2.02(b)) on the occasion of each Borrowing (including the Initial Extension of Credit), and the right obligation of the Borrowers to request and the obligation of each Issuing Bank to issue a Letter of Credit (including the initial issuanceissuance of a Letter of Credit hereunder) or to renew a Letter of Credit and the right of the Borrowers Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing Borrowing, issuance or issuance renewal (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, Notice of Swing Line Borrowing Borrowing, Notice of Issuance or Notice of Issuance Renewal and the acceptance by the relevant Borrower of the proceeds of such Borrowing or the issuance or renewal of such Letter of Credit Credit, as the case may be, shall constitute a representation and warranty by such the Borrower that both on the date of such notice and on the date of such Borrowing Borrowing, issuance or issuance renewal such statements are true):

Appears in 1 contract

Samples: Credit Agreement (Desa Holdings Corp)

Conditions Precedent to Each Borrowing and Issuance. The right of the Borrowers to request and the obligation of each Appropriate Lender to make an Advance (other than a Letter of Credit Advance made by an the Issuing Bank or a Working Capital Revolving Credit Lender pursuant to Section 2.03(c) and a Swing Line Advance made by a Working Capital Revolving Credit Lender pursuant to Section 2.02(b)) on the occasion of each Borrowing (including the Initial Extension of Credit), and the right obligation of the Borrowers to request and the obligation of each Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrowers Borrower to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, Notice of Swing Line Borrowing Borrowing, Notice of Issuance or Notice of Issuance Renewal and the acceptance by the relevant Borrower of the proceeds of such Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by such the Borrower that both on the date of such notice and on the date of such Borrowing or issuance or renewal such statements are true):

Appears in 1 contract

Samples: Credit Agreement (Central Tractor Farm & Country Inc)

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Conditions Precedent to Each Borrowing and Issuance. The right of the Borrowers to request and the obligation of each Appropriate Lender to make an Advance (other than a Letter of Credit Advance made by an the Issuing Bank or a Working Capital Lender pursuant to Section 2.03(c) and a Swing Line Advance made by a Working Capital Lender pursuant to Section 2.02(b)) on the occasion of each Borrowing (including the Initial Extension of Credit), and the right obligation of the Borrowers to request and the obligation of each Issuing Bank to issue a Letter of Credit (including the initial issuance) or renew a Letter of Credit and the right of the Borrowers to request a Swing Line Borrowing, shall be subject to the further conditions precedent that on the date of such Borrowing or issuance or renewal (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, Notice of Swing Line Borrowing Borrowing, Notice of Issuance or Notice of Issuance Renewal and the acceptance by the relevant Borrower of the proceeds of such Borrowing or of such Letter of Credit or the renewal of such Letter of Credit shall constitute a representation and warranty by such Borrower that both on the date of such notice and on the date of such Borrowing or issuance or renewal such statements are true):

Appears in 1 contract

Samples: Credit Agreement (Amdocs LTD)

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