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 a Loan on the occasion of the initial Borrowing shall be subject to the further conditions precedent that on the date of such Borrowing the following statements shall be true and the Administrative Agent shall have received for the account of such Lender a certificate signed by a duly authorized officer of the Borrower, dated the date of such Borrowing, stating that (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Borrowing such statements are true):

Appears in 1 contract

Samples: Credit and Guaranty Agreement (US Power Generating CO)

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Conditions Precedent to Each Borrowing and Issuance. The obligation of each Appropriate Lender to make a Loan an Advance on the occasion of each Borrowing (including the Initial Extension of Credit), and the obligation of the Issuing Bank to issue a Letter of Credit (including the initial Borrowing 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 the Administrative Agent shall have received for the account of such Lender a certificate signed by a duly authorized officer of the Borrower, dated the date of such Borrowing, stating that (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice or Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Borrowing such statements are true):

Appears in 1 contract

Samples: Credit Agreement (Carlyle Industries Inc)

Conditions Precedent to Each Borrowing and Issuance. The obligation of each Lender to make a Loan an Advance on the occasion of each Borrowing and the initial Borrowing obligation of each Issuing Bank to issue a Letter of Credit shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing or issuance (a) the following statements shall be true and the Administrative Agent shall have received for the account of such Lender a certificate signed by a duly authorized officer of the Borrower, dated the date of such Borrowing, stating that (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Borrowing or issuance such statements are true):

Appears in 1 contract

Samples: Credit Agreement (Polyone Corp)

Conditions Precedent to Each Borrowing and Issuance. The obligation of each Lender to make a Loan an Advance on the occasion of each Borrowing (excluding, however, the initial Borrowing making of any Advance pursuant to Section 2.13), and the right of the Company 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 the Administrative Agent shall have received for the account of such Lender a certificate signed by a duly authorized officer of the Borrower, dated the date of such Borrowing, stating that (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower Company of the proceeds of such Borrowing or of such Letter of Credit shall constitute a representation and warranty by the Borrower Company that both on the date of such notice and on the date of such Borrowing or issuance such statements are true):

Appears in 1 contract

Samples: Credit Agreement (Allied Waste Industries Inc)

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Conditions Precedent to Each Borrowing and Issuance. The obligation of each Lender to make a Loan Revolving Credit Advance on the occasion of each Borrowing (including the Initial Extension of Credit), and the obligation of the Issuing Bank to issue a Letter of Credit (including the initial Borrowing 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 the Administrative Agent shall have received for the account of such Lender a certificate signed by a duly authorized officer of the Borrower, dated the date of such Borrowing, stating that (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Borrowing or issuance such statements are true):

Appears in 1 contract

Samples: Credit Agreement (Massic Tool Mold & Die Inc)

Conditions Precedent to Each Borrowing and Issuance. The obligation of each Lender to make a Loan an Advance on the occasion of each Borrowing and the initial Borrowing obligations of each Issuing Bank to issue a Letter of Credit shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing or such issuance (a) the following statements shall be true and the Administrative Agent shall have received for the account of such Lender a certificate signed by a duly authorized officer of the Borrower, dated the date of such Borrowing, stating that (and each of the giving of the applicable Notice of Borrowing Borrowing, Notice of Issuance and the acceptance by the such Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the such Borrower that both on the date of such notice and on the date of such Borrowing or such issuance such statements are true):

Appears in 1 contract

Samples: Credit Agreement (Lubrizol Corp)

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