Conditions Precedent to Each Committed Borrowing Sample Clauses
Conditions Precedent to Each Committed Borrowing. The obligation of each Bank to make a Committed Loan on the occasion of any Committed Borrowing (including the initial Committed Borrowing, but excluding any Committed Borrowing used exclusively to finance the payment of any Reimbursement Obligation) shall be subject to the further conditions precedent that on the date of such Committed Borrowing the following statements shall be true (and each of the giving of the applicable Notice of Committed Borrowing and the acceptance by the Company of the proceeds of such Committed Borrowing shall constitute a representation and warranty by the Company that on the date of such Committed Borrowing such statements are true):
(a) The representations and warranties contained in Article V (except the last sentence of Section 5.2 and except Section 5.5) are correct in all material respects on and as of the date of such Committed 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 Committed Borrowing, as though made on and as of such date;
(b) No event has occurred and is continuing, or would result from such Committed Borrowing, which constitutes either a Default or an Event of Default; and
(c) Following the making of such Committed Borrowing and all other Borrowings to be made on the same day under this Agreement, the sum of the aggregate principal amount of all Loans then outstanding and of the L/C Obligations shall not exceed the Total Commitment.
Conditions Precedent to Each Committed Borrowing. The ------------------------------------------------ obligation of each Bank to make a Committed Advance on the occasion of each Committed Borrowing (including the initial Committed Borrowing) shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Committed Borrowing the following statements shall be true (and each of the giving of the applicable Notice of Committed Borrowing and the acceptance by the applicable Borrower of the proceeds of such Committed Borrowing shall constitute a representation and warranty by such Borrower that on the date of such Committed Borrowing such statements are true):
(i) The representations and warranties contained in subsections (a), (b), (c), (d), (f)(ii) and (h) through (q) of Section 4.01 are correct on ------------ and as of -42- the date of such Committed Borrowing, before and after giving effect to such Committed Borrowing and to the application of the proceeds therefrom, as though made on and as of such date;
(ii) No event has occurred and is continuing, or would result from such Committed Borrowing or from the application of the proceeds therefrom, which constitutes an Event of Default or which would constitute an Event of Default but for the requirement that notice be given or time elapse or both; and
(iii) The aggregate principal amount (or, in the case of securities issued at a discount from the principal amount at maturity, the accreted amount) of indebtedness for borrowed money (after giving effect to such Committed Borrowing and the application of the proceeds thereof) of the Company and its Subsidiaries does not exceed the maximum amount then authorized by the Company's Board of Directors.
Conditions Precedent to Each Committed Borrowing. The obligation of each Lender to make an Advance on the occasion of each Borrowing (including the initial Committed Borrowing) shall be subject to the further conditions precedent that 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 acceptance by the Borrower requesting such Borrowing of the proceeds of such Borrowing shall constitute a representation and warranty by such Borrower that on the date of such Borrowing such statements are true):
(i) The representations and warranties contained in Article IV are correct on and as of the date of such Borrowing (except (x) to the extent that such representations and warranties expressly relate solely to an earlier date and then shall be correct as of such date and (y) that the representation and warranty set forth in Section 4.03 as to lack of material adverse change is made since the date of the then most recent financial statement delivered pursuant to Section 5.01 (a)(ii)), 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; and
(ii) 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 a Potential Event of Default.
Conditions Precedent to Each Committed Borrowing. The obligation of each Bank to make a Committed Loan on the occasion of any Committed Borrowing (including the initial Committed Borrowing) shall be subject to the further conditions precedent that on the Borrowing Date of such Committed Borrowing the following statements shall be true (and each of the giving of the applicable Committed Borrowing Request and the acceptance by a Borrower of the proceeds of such Committed Borrowing shall constitute a representation and warranty by the Company and such Borrower, if not the Company, that on the date of such Committed Borrowing such statements are true):