Common use of Conditions Precedent to Each Loan and Letter of Credit Clause in Contracts

Conditions Precedent to Each Loan and Letter of Credit. and 2.1 (The Revolving Credit Commitments) shall have been satisfied (which conditions precedent the Revolving Credit Lenders hereby irrevocably waive), each Revolving Credit Lender shall, before 11:00 a.m. (New York time) on the Business Day next succeeding the date of such Revolving Credit Lender’s receipt of such notice or demand, make available to the Administrative Agent, in immediately available funds, for the account of the Swing Loan Lender, the amount specified in such statement. Upon such payment by a Revolving Credit Lender, such Revolving Credit Lender shall, except as provided in clause (f) below, be deemed to have made a Revolving Loan to the Borrower. The Administrative Agent shall use such funds to repay the Swing Loans to the Swing Loan Lender. To the extent that any Revolving Credit Lender fails to make such payment available to the Administrative Agent for the account of the Swing Loan Lender, the Borrower shall repay such Swing Loan on demand.

Appears in 6 contracts

Samples: Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp)

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Conditions Precedent to Each Loan and Letter of Credit. and 2.1 (The Revolving Credit Commitments) shall have been satisfied (which conditions precedent the Revolving Credit Lenders hereby irrevocably waive), each Revolving Credit Lender shall, before 11:00 a.m. (New York time) on the Business Day next succeeding the date of such Revolving Credit Lender’s receipt of such notice or demand, make available to the Administrative Agent, in immediately available funds, for the account of the Swing Loan Lender, the amount specified in such statement. Upon such payment by a Revolving Credit Lender, such Revolving Credit Lender shall, except as provided in clause (f) below, be deemed to have made a Revolving Loan to the Borrower. The Administrative Agent shall use such funds to AMENDED AND RESTATED CREDIT AGREEMENT TXXXX HEALTHCARE CORPORATION repay the Swing Loans to the Swing Loan Lender. To the extent that any Revolving Credit Lender fails to make such payment available to the Administrative Agent for the account of the Swing Loan Lender, the Borrower shall repay such Swing Loan on demand.

Appears in 1 contract

Samples: Credit Agreement (Tenet Healthcare Corp)

Conditions Precedent to Each Loan and Letter of Credit. and 2.1 (The Revolving Credit Commitments) shall have been satisfied (which conditions precedent the Revolving Credit Lenders hereby irrevocably waive), each Revolving Credit Lender shall, before 11:00 a.m. (New York City time) on the Business Day next succeeding the date of such Revolving Credit Lender’s receipt of such notice or demand, make available to the Administrative Agent, in immediately available funds, for the account of the Swing Loan Lender, the amount specified in such statement. Upon such payment by a Revolving Credit Lender, such Revolving Credit Lender shall, except as provided in clause (f) below, be deemed to have made a Revolving Loan to the Borrowerapplicable U.S. Borrowers. The Administrative Agent shall use such funds to repay the Swing Loans to the Swing Loan Lender. To the extent that any Revolving Credit Lender fails to make such payment available to the Administrative Agent for the account of the Swing Loan Lender, the Borrower U.S. Borrowers shall repay such Swing Loan on demand.

Appears in 1 contract

Samples: Credit Agreement (UTi WORLDWIDE INC)

Conditions Precedent to Each Loan and Letter of Credit. and 2.1 (The Revolving Credit Commitments) shall have been satisfied (which conditions precedent the Revolving Credit Lenders hereby irrevocably waive), each Revolving Credit Lender shall, before 11:00 a.m. (New York time) on the Business Day next succeeding the date of such Revolving Credit Lender’s receipt of such notice or demand, make available to the Administrative Agent, in immediately available funds, for the account of the Swing Loan Lender, the amount specified in such statement. Upon such payment by a Revolving Credit Lender, such Revolving Credit Lender shall, except as provided in clause (f) below, be deemed to have made a Revolving Loan to the Borrower. The Administrative Agent shall use such funds to repay the Swing Loans to the Swing Loan Lender. To the extent that any Revolving Credit Lender fails to make such payment available to the Administrative Agent for the account of the Swing Loan Lender, the Borrower shall repay such Swing Loan on demand.

Appears in 1 contract

Samples: Credit Agreement (Tekni Plex Inc)

Conditions Precedent to Each Loan and Letter of Credit. and 2.1 Section 2.1(a) (The Revolving Credit Commitments) shall have been satisfied (which conditions precedent the Revolving Credit Lenders hereby irrevocably waive), each Revolving Credit Lender shall, before 11:00 a.m. (New York time) on the Business Day next succeeding the date of such Revolving Credit Lender’s receipt of such notice or demand, make available to the Administrative Agent, in immediately available fundsfunds in Dollars, for the account of the Swing Loan Lender, the amount specified in such statement. Upon such payment by a Revolving Credit Lender, such Revolving Credit Lender shall, except as provided in clause (fe) below, be deemed to have made a Revolving Loan in Dollars in an amount equal to such payment to the Borrowerapplicable Euro Borrower or Euro Borrowers (and the U.S. Borrower and each applicable Euro Borrower hereby authorizes the making of such Revolving Loan). The Administrative Agent shall use such funds to repay the Swing Loans to the Swing Loan Lender. To the extent that any Revolving Credit Lender fails to make such payment available to the Administrative Agent for the account of the Swing Loan Lender, the applicable Euro Borrower or Euro Borrowers shall repay such Swing Loan or Swing Loans, as the case may be, on demand.

Appears in 1 contract

Samples: Credit Agreement (FMC Corp)

Conditions Precedent to Each Loan and Letter of Credit. and 2.1 (The Revolving Credit Commitments) shall have been satisfied (which conditions precedent the Revolving Credit Lenders hereby irrevocably waive), each Revolving Credit Lender shall, before 11:00 a.m. (New York time) on the Business Day next succeeding the date of such Revolving Credit Lender’s receipt of such notice or demand, make available to the Administrative Agent, in immediately available funds, for the account of the Swing Loan Lender, the amount specified in such statement. Upon such payment by a Revolving Credit Lender, such Revolving Credit Lender shall, except as provided in clause (f) below, be deemed to have made a Revolving Loan to the BorrowerLoan. The Administrative Agent shall use such funds to repay the Swing Loans to the Swing Loan Lender. To the extent that any Revolving Credit Lender fails to make such payment available to the Administrative Agent for the account of the Swing Loan Lender, the Borrower shall repay such Swing Loan on demand. CREDIT AGREEMENT CONSTAR INTERNATIONAL INC.

Appears in 1 contract

Samples: Senior Secured Super Priority Debtor in Possession and Exit Credit Agreement (Constar International Inc)

Conditions Precedent to Each Loan and Letter of Credit. and 2.1 Section 2.1(a) (The Revolving Credit Commitments) shall have been satisfied (which conditions precedent the Revolving Credit Lenders hereby irrevocably waive), each Revolving Credit Lender shall, before 11:00 a.m. (New York time) on the Business Day next succeeding the date of such Revolving Credit Lender’s receipt of such notice or demand, make available to the Administrative Agent, in immediately available fundsfunds in Dollars, for the account of the Swing Loan Lender, the amount specified in such statement. Upon such payment by a Revolving Credit Lender, such Revolving Credit Lender shall, except as provided in clause (fe) below, be deemed to have made a Revolving Loan in Dollars in an amount equal to such payment to the Borrowerapplicable Euro Borrower or Euro Borrowers (and the U.S. Borrower hereby authorizes the making of such Revolving Loan). The Administrative Agent shall use such funds to repay the Swing Loans to the Swing Loan Lender. To the extent that any Revolving Credit Lender fails to make such payment available to the Administrative Agent for the account of the Swing Loan Lender, the applicable Euro Borrower or Euro Borrowers shall repay such Swing Loan or Swing Loans, as the case may be, on demand.

Appears in 1 contract

Samples: Credit Agreement (FMC Corp)

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Conditions Precedent to Each Loan and Letter of Credit. and 2.1 (The Revolving Credit Commitments) shall have been satisfied (which conditions precedent the Revolving Credit Lenders hereby irrevocably waive), each Revolving Credit Lender shall, before 11:00 a.m. (New York time) on the Business Day next succeeding the date of such Revolving Credit Lender’s receipt of such notice or demand, make available to the Administrative Agent, in immediately available funds, for the account of the Swing Loan Lender, the amount specified in such statement. Upon such payment by a Revolving Credit Lender, such Revolving Credit Lender shall, except as provided in clause (f) below, be deemed to have made a Revolving Loan to the BorrowerLoan. The Administrative Agent shall use such funds to repay the Swing Loans to the Swing Loan Lender. To the extent that any Revolving Credit Lender fails to make such payment available to the Administrative Agent for the account of the Swing Loan Lender, the Borrower shall repay such Swing Loan on demand.

Appears in 1 contract

Samples: Credit Agreement (Constar International Inc)

Conditions Precedent to Each Loan and Letter of Credit. and 2.1 (The Revolving Credit Commitments) shall have been satisfied (which conditions precedent the Revolving Credit Lenders hereby irrevocably waive), each Revolving Credit Lender shall, before 11:00 a.m. (New York time) on the Business Day next succeeding the date of such Revolving Credit Lender’s receipt of such notice or demand, make available to the Administrative Agent, in immediately available funds, for the account of the Swing Loan Lender, the amount specified in such statement. Upon such payment by a Revolving Credit Lender, such Revolving Credit Lender shall, except as provided in clause (f) below, be deemed to have made a Revolving Loan to the Borrower. The Administrative Agent shall use such funds to repay the Swing Loans to the Swing Loan Lender. To the extent that any Revolving Credit Lender fails to make such payment available to the Administrative Agent for the account of the Swing Loan Lender, the Borrower shall repay such Swing Loan on demand.. AMENDED AND RESTATED CREDIT AGREEMENT XXXXX HEALTHCARE CORPORATION

Appears in 1 contract

Samples: Credit Agreement (Tenet Healthcare Corp)

Conditions Precedent to Each Loan and Letter of Credit. and 2.1 Section 2.1(a) (The Primary Revolving Credit Commitments) ), shall have been satisfied (which conditions precedent the Primary Revolving Credit Lenders hereby irrevocably waive), each Primary Revolving Credit Lender shall, before 11:00 a.m. (New York time) on the Business Day next succeeding the date of such Primary Revolving Credit Lender’s receipt of such notice or demand, make available to the Administrative Agent, in immediately available funds, for the account of the applicable Swing Loan Lender, the amount specified in such statementstatement in the applicable currency. Upon such payment by a Primary Revolving Credit Lender, such Primary Revolving Credit Lender shall, except as provided in clause (f) below, be deemed to have made a Primary Revolving Loan to the applicable Primary Revolving Borrower. The Administrative Agent shall use such funds to repay the Swing Loans to the applicable Swing Loan LenderLenders. To the extent that any Primary Revolving Credit Lender fails to make such payment available to the Administrative Agent for the account of the applicable Swing Loan Lender, the applicable Primary Revolving Borrower shall repay such Swing Loan on demand.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

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