Common use of Conditions Precedent to Each Borrowing Clause in Contracts

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (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 on the date of such Borrowing such statements are true): (a) the representations and warranties contained in Section 4.01 are true and correct in all material respects 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, as though made on and as of such date (except to the extent that such representations and warranties relate to an earlier date, in which case such representations and warranties shall have been correct in all material respects on and as of such earlier date); and (b) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, which constitutes an Event of Default or would constitute an Event of Default but for the requirement that notice be given or time elapse or both.

Appears in 3 contracts

Samples: Credit Agreement (Walt Disney Co/), 364 Day Credit Agreement (Walt Disney Co/), Credit Agreement (Walt Disney Co/)

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Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent (without limitation of the conditions set forth in Section 3.01, in the case of the first Borrowing) that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (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 on the date of such Borrowing such statements are true): (a) the representations and warranties contained in Section 4.01 made by the Borrower are true and correct in all material respects on and as of the date of such Borrowing, Borrowing before and after giving effect to such Borrowing and to the application of the proceeds therefrom, as though made on and as of such date (except to the extent that any such representations and warranties relate representation or warranty relates to an a specific earlier date, date in which case such representations and warranties shall have been correct in all material respects on and it was true as of such earlier date); , and (b) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, which that constitutes an Event a Default in respect of Default or would constitute an Event of Default but for the requirement that notice be given or time elapse or bothBorrower.

Appears in 3 contracts

Samples: 364 Day Term Loan Agreement (Oracle Corp /De/), 364 Day Revolving Credit Agreement (Oracle Corp /De/), 364 Day Term Loan Agreement (Oracle Corp /De/)

Conditions Precedent to Each Borrowing. The obligation of --------------------------------------- each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (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 on the date of such Borrowing such statements are true): (a) the representations and warranties contained in Section 4.01 are true and correct in all material respects 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, as though made on and as of such date (except to the extent that such representations and warranties relate to an earlier date, in which case such representations and warranties shall have been were correct in all material respects on and as of such earlier date); and (b) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, which constitutes an Event of Default or would constitute an Event of Default but for the requirement that notice be given or time elapse or both.

Appears in 2 contracts

Samples: 364 Day Credit Agreement (Dc Holdco Inc), Credit Agreement (Dc Holdco Inc)

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that (i) in the Effective Date case of the making of an Advance, the Administrative Agent shall have occurred received the written confirmatory Notice of Borrowing with respect thereto, and (ii) on the date of such Borrowing Borrowing, the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Borrower Company of the proceeds of such Borrowing shall constitute a representation and warranty by the Borrower that Company that, on the date of such Borrowing Borrowing, such statements are true): (a) the The representations and warranties contained in Section 4.01 (excluding the representation and warranty contained in the last sentence of Section 4.01(e)) are true and correct in all material respects on and as of the date of such Borrowing, or, if any such representation or warranty is expressly stated to have been made as of a specific date as of such specific date, before and after giving effect to such Borrowing and to the application of the proceeds therefrom, as though made on and as of such date (except to the extent that such representations and warranties relate to an earlier date, in which case such representations and warranties shall have been correct in all material respects on and as of such earlier date); and (b) no No event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, which that constitutes a Default or an Event of Default or would constitute an Event of Default but for the requirement that notice be given or time elapse or bothDefault.

Appears in 2 contracts

Samples: Credit Agreement (Progress Energy Inc), Credit Agreement (Progress Energy Inc)

Conditions Precedent to Each Borrowing. The obligation -------------------------------------- of each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (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 on the date of such Borrowing such statements are true): (a) the representations and warranties contained in Section 4.01 are true and correct in all material respects 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, as though made on and as of such date (except to the extent that such representations and warranties relate to an earlier date, in which case such representations and warranties shall have been correct in all material respects on and as of such earlier date); and (b) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, which constitutes an Event of Default or would constitute an Event of Default but for the requirement that notice be given or time elapse or both.

Appears in 2 contracts

Samples: Credit Agreement (Walt Disney Co/), 364 Day Credit Agreement (Walt Disney Co/)

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (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 on the date of such Borrowing such statements are true): (a) the representations and warranties contained in Section 4.01 (except the representations set forth in the last sentence of subsection (e) thereof and in subsection (f)(i) thereof) are true and correct in all material respects on and as of the date of such Borrowingdate, before and after giving effect to such Borrowing and to the application of the proceeds therefrom, as though made on and as of such date (except to the extent that such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date); , and (b) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, which that constitutes an Event of Default or would constitute an Event of Default but for the requirement that notice be given or time elapse or botha Default.

Appears in 1 contract

Samples: Credit Agreement (Juniper Networks Inc)

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Conditions Precedent to Each Borrowing. The obligation -------------------------------------- of each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (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 on the date of such Borrowing such statements are true): (a) the representations and warranties contained in Section 4.01 are true and correct in all material respects 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, as though made on and as of such date (except to the extent that such representations and warranties relate to an earlier date, in which case such representations and warranties shall have been correct in all material respects on and as of such earlier date); and (b) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, which constitutes an Event of Default or would constitute an Event of Default but for the requirement that notice be given or time elapse or both.

Appears in 1 contract

Samples: Credit Agreement (Walt Disney Co/)

Conditions Precedent to Each Borrowing. The obligation -------------------------------------- of each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the Borrowing: (a) The following statements shall be true (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 on the date of such Borrowing such statements are true): (ai) the representations and warranties contained in Section 4.01 (other than the final sentence of subparagraph (e) thereof) are true and correct in all material respects 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, as though made on and as of such date (except it being understood and agreed that any representation or warranty which expressly refers by its terms to the extent that such representations a specified date shall be required to be true and warranties relate to an earlier date, in which case such representations and warranties shall have been correct in all material respects on and only as of such earlier date); , and (bii) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, which that constitutes an Event of Default or would constitute an Event of Default but for the requirement that notice a Default; and (b) The Financial Strength Rating shall be given or time elapse or bothabove Level 5.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ambac Financial Group Inc)

Conditions Precedent to Each Borrowing. The obligation of each the Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that the Effective Date shall have occurred and except as the Lender may waive in writing, on the date of such Borrowing (a) the following statements shall be true (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 each Loan Party that on the date of such the Borrowing such statements are true): (ai) the representations and warranties contained in Section 4.01 are true and correct in all material respects on and as of the date of such Borrowingdate, before and after giving effect to such Borrowing and to the application of the proceeds therefrom, as though made on and as of such date (date, except to the extent that such representations and warranties relate specifically refer to an earlier date, in which case such representations they shall be true and warranties shall have been correct in all material respects on and as of such earlier date)respects; and (bii) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom, which that constitutes an Event of Default a Default; and (b) the Lender shall have received such other approvals, opinions or would constitute an Event of Default but for documents as the requirement that notice be given or time elapse or bothLender may reasonably request.

Appears in 1 contract

Samples: Revolving Credit Agreement (Sunpower Corp)

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