Common use of Conditions Precedent to Each Borrowing and Term Loan Election Clause in Contracts

Conditions Precedent to Each Borrowing and Term Loan Election. The obligation of each Lender to make each Advance (including the initial Advance) as part of a Borrowing and the effectiveness of any Term Loan Election shall be subject to the further conditions precedent that on the date of such Borrowing or Term Loan Election the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the relevant Borrower of the proceeds of such Advance or the notice of the Term Loan Election shall constitute a representation and warranty by such Borrower that on the date of such Advance or Term Loan Election the following statements shall be true): (x) the representations and warranties contained in Section 4.01 (other than the Excluded Representation) and, to the extent applicable, in the Designation Letter of such Borrower are correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date of such Borrowing or notice of Term Loan Election, before and after giving effect to such Borrowing and to the application of the proceeds therefrom or such Term Loan Election, as though made on and as of such date (it being understood and agreed that any representation or warranty which expressly refers by its terms to a specified date shall be required to be true and correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) only as of such date), and (y) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom or from the Term Loan Election, that would constitute a Default or an Event of Default.

Appears in 2 contracts

Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.), 364 Day Credit Agreement (Stanley Black & Decker, Inc.)

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Conditions Precedent to Each Borrowing and Term Loan Election. The obligation of each Lender to make each Advance (including the initial Advance) as part of a Borrowing and the effectiveness of any Term Loan Election shall be subject to the further conditions precedent that on the date of such Borrowing or Term Loan Election the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the relevant Borrower of the proceeds of such Advance or the notice of the Term Loan Election shall constitute a representation and warranty by such Borrower that on the date of such Advance or Term Loan Election the following statements shall be true): (x) the representations and warranties contained in Section 4.01 (other than the Excluded Representation) and, to the extent applicable, in the Designation Letter of such Borrower are correct in all material respects (other than any representation or warranty qualified by materiality 364-DAY CREDIT AGREEMENT or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date of such Borrowing or notice of Term Loan Election, before and after giving effect to such Borrowing and to the application of the proceeds therefrom or such Term Loan Election, as though made on and as of such date (it being understood and agreed that any representation or warranty which expressly refers by its terms to a specified date shall be required to be true and correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) only as of such date), and (y) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom or from the Term Loan Election, that would constitute a Default or an Event of Default.

Appears in 2 contracts

Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.), 364 Day Credit Agreement (Stanley Black & Decker, Inc.)

Conditions Precedent to Each Borrowing and Term Loan Election. The obligation of each Lender to make each Advance (including the initial Advance) as part of a Borrowing and the effectiveness of any Term Loan Election shall be subject to the further conditions precedent that on the date of such Borrowing or Term Loan Election the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the relevant Borrower of the proceeds of such Advance or the notice of the 364-DAY CREDIT AGREEMENT Term Loan Election shall constitute a representation and warranty by such Borrower that on the date of such Advance or Term Loan Election the following statements shall be true): (x) the representations and warranties contained in Section 4.01 (other than the Excluded Representation) and, to the extent applicable, in the Designation Letter of such Borrower are correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date of such Borrowing or notice of Term Loan Election, before and after giving effect to such Borrowing and to the application of the proceeds therefrom or such Term Loan Election, as though made on and as of such date (it being understood and agreed that any representation or warranty which expressly refers by its terms to a specified date shall be required to be true and correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) only as of such date), and (y) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom or from the Term Loan Election, that would constitute a Default or an Event of Default.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)

Conditions Precedent to Each Borrowing and Term Loan Election. The obligation of each Lender to make each Advance (including the initial Advance) as part of a Borrowing (other than a Swing Line Advance in which a participation is funded by a Lender pursuant to Section 2.16(d)) and the effectiveness of any Term Loan Election shall be subject to the further conditions precedent that (i) on the date of such Borrowing or Term Loan Election the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the relevant Borrower of the proceeds of such Advance or the notice of the Term Loan Election shall constitute a representation and warranty by such Borrower that on the date of such Advance or Term Loan Election the following statements shall be true): (x) the representations and warranties contained in Section 4.01 (other than the Excluded Representation) and, to the extent applicable, in the Designation Letter of such Borrower are correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date of such Borrowing or notice of Term Loan Election, before and after giving effect to such Borrowing and to the application of the proceeds therefrom or such Term Loan Election, as though made on and as of such date (it being understood and agreed that any representation or warranty which expressly refers by its terms to a specified date shall be required to be true and correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) only as of such date), and (y) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom or from the Term Loan Election, that would constitute a Default or an Event of Default.; and (ii) in the case of a requested Borrowing the proceeds of which are to be used to buy or carry any Margin Stock, the Company shall deliver to the Administrative Agent a certificate of a senior financial officer of the Company accompanying the relevant Notice of Borrowing setting forth in reasonable detail the basis upon which the Company has made the representation set forth in the third sentence of Section 4.01(l) on and as of the date of such Borrowing, before and after giving effect to such Borrowing and to the application of the proceeds therefrom, together with (if so requested by the Administrative Agent) a duly completed Form U-1 or Form G-3 satisfactory to the Administrative Agent. 364-DAY CREDIT AGREEMENT

Appears in 1 contract

Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)

Conditions Precedent to Each Borrowing and Term Loan Election. The obligation of each Lender to make each Advance (including the initial Advance) as part of a Borrowing and the effectiveness of any Term Loan Election shall be subject to the further conditions precedent that on the date of such Borrowing or Term Loan Election the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the relevant Borrower of the proceeds of such Advance or the notice of the Term Loan Election shall constitute a representation and warranty by such Borrower that on the date of such Advance or Term Loan Election the following statements shall be true): (x) the representations and warranties contained in Section 4.01 (other than the Excluded Representation) and, to the extent applicable, in the Designation Letter of such Borrower are correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date of such Borrowing or notice of Term Loan Election, before and after giving effect to such Borrowing and to the application of the proceeds therefrom or such Term Loan Election, as though made on and as of such date (it being understood and agreed that any representation or warranty which expressly refers by its terms to a specified date shall be required to be true and correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) only as of such date), and (y) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom or from the Term Loan Election, that would constitute a Default or an Event of Default.. 364-DAY CREDIT AGREEMENT

Appears in 1 contract

Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)

Conditions Precedent to Each Borrowing and Term Loan Election. The obligation of each Lender to make each Advance (including the initial Advance) as part of a Borrowing (other than a Swing Line Advance in which a participation is funded by a Lender pursuant to Section 2.16(d)) and the effectiveness of any Term Loan Election shall be subject to the further conditions precedent that (i) on the date of such Borrowing or Term Loan Election the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the relevant Borrower of the proceeds of such Advance or the notice of the Term Loan Election shall constitute a representation and warranty by such Borrower that on the date of such Advance or Term Loan Election the following statements shall be true): (x) the representations and warranties contained in Section 4.01 (other than the Excluded Representation) and, to the extent applicable, in the Designation Letter of such Borrower are correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date of such Borrowing or notice of Term Loan Election, before and after giving effect to such Borrowing and to the application of the proceeds therefrom or such Term Loan Election, as though made on and as of such date (it being understood and agreed that any representation or warranty which expressly refers by its terms to a specified date shall be required to be true and correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) only as of such date), and (y) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom or from the Term Loan Election, that would constitute a Default or an Event of Default; and (ii) in the case of a requested Borrowing the proceeds of which are to be used to buy or carry any Margin Stock, the Company shall deliver to the Administrative Agent a certificate of a senior financial officer of the Company accompanying the relevant Notice of Borrowing setting forth in reasonable detail the basis upon which the Company has made the representation set forth in the third sentence of Section 4.01(l) on and as of the date of such Borrowing, before and after giving effect to such Borrowing and to the application of the proceeds therefrom, together with (if so requested by the Administrative Agent) a duly completed Form U-1 or Form G-3 satisfactory to the Administrative Agent.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)

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Conditions Precedent to Each Borrowing and Term Loan Election. The obligation of each Lender to make each Advance (including the initial Advance) as part of a Borrowing and the effectiveness of any Term Loan Election shall be subject to the further conditions precedent that on the date of such Borrowing or Term Loan Election the following statements shall be true (and each of the giving of the applicable Notice of Borrowing 364-DAY CREDIT AGREEMENT and the acceptance by the relevant Borrower of the proceeds of such Advance or the notice of the Term Loan Election shall constitute a representation and warranty by such Borrower that on the date of such Advance or Term Loan Election the following statements shall be true): (x) the representations and warranties contained in Section 4.01 (other than the Excluded Representation) and, to the extent applicable, in the Designation Letter of such Borrower are correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date of such Borrowing or notice of Term Loan Election, before and after giving effect to such Borrowing and to the application of the proceeds therefrom or such Term Loan Election, as though made on and as of such date (it being understood and agreed that any representation or warranty which expressly refers by its terms to a specified date shall be required to be true and correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) only as of such date), and (y) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom or from the Term Loan Election, that would constitute a Default or an Event of Default.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)

Conditions Precedent to Each Borrowing and Term Loan Election. The obligation of each Lender to make each Advance (including the initial Advance) as part of a Borrowing and the effectiveness of any Term Loan Election shall be subject to the further conditions precedent that on the date of such Borrowing or Term Loan Election the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the relevant Borrower of the proceeds of such Advance or the notice of the Term Loan Election shall constitute a representation and warranty by such Borrower that on the date of such Advance or Term Loan Election the following statements shall be true): (x) the 364-DAY CREDIT AGREEMENT representations and warranties contained in Section 4.01 (other than the Excluded Representation) and, to the extent applicable, in the Designation Letter of such Borrower are correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date of such Borrowing or notice of Term Loan Election, before and after giving effect to such Borrowing and to the application of the proceeds therefrom or such Term Loan Election, as though made on and as of such date (it being understood and agreed that any representation or warranty which expressly refers by its terms to a specified date shall be required to be true and correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) only as of such date), and (y) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom or from the Term Loan Election, that would constitute a Default or an Event of Default.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)

Conditions Precedent to Each Borrowing and Term Loan Election. The obligation of each Lender to make each Advance (including the initial Advance) as part of a Borrowing and the effectiveness of any Term Loan Election shall be subject to the further conditions precedent that on the date of such Borrowing or Term Loan Election the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the relevant Borrower of the proceeds of such Advance or the notice of the Term Loan Election shall constitute a representation and warranty by such Borrower that on the date of such Advance or Term Loan Election the following statements shall be true): (x) the representations and warranties contained in Section 4.01 (other than the Excluded Representation) and, to the extent applicable, in the Designation Letter of such Borrower are correct in all material respects (other than any representation or warranty qualified by materiality 364-DAY CREDIT AGREEMENT or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date of such Borrowing or notice of Term Loan Election, before and after giving effect to such Borrowing and to the application of the proceeds therefrom or such Term Loan Election, as though made on and as of such date (it being understood and agreed that any representation or warranty which expressly refers by its terms to a specified date shall be required to be true and correct in all material respects (other than any representation or warranty qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) only as of such date), and (y) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom or from the Term Loan Election, that would constitute a Default or an Event of Default.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)

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