Conditions Precedent to Each Draw. Provided that the Commitment and the obligation of the Bank to advance funds hereunder shall not (i) have terminated pursuant to Section 8.02 hereof, (ii) have been suspended pursuant to a Draw Suspension Notice described in Section 8.02 hereof or (iii) been terminated at the option of the City, the obligation of the Bank to advance funds hereunder on any date is subject to the conditions precedent that on the date of the requested draw:
Conditions Precedent to Each Draw. In addition to the satisfaction of all conditions set forth in Articles I and II hereof and concurrently with and as a condition precedent to each Draw:
Conditions Precedent to Each Draw. On each date of the Initial Draw, the Second Draw or a Delayed Draw, as applicable, (i) immediately after giving effect to the Initial Draw, the Second Draw or the applicable Delayed Draw, as applicable, no default or event of default under the DIP Loan Documents shall have occurred and be continuing, (ii) each of the representations and warranties set forth in the DIP Loan Documents shall be true and correct in all material respects on and as of the date of the Initial Draw, the Second Draw or the applicable Delayed Draw, as applicable, with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects on and as of such earlier date); provided that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects and (iii) the DIP Agent shall have received a borrowing notice in accordance with the DIP Loan Documents (collectively, the “Draw Conditions”).
