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

Conditions Precedent to Each Loan and Letter of Credit. In addition to any other requirements set forth in this Agreement, Lender shall not be required to fund any Loan or issue any Letter of Credit (including those made or issued on the Closing Date) unless and until each of the following conditions shall have been satisfied, in Lender’s sole opinion, and each request for a Loan (whether or not a written Notice of Borrowing is required) or issuance of a Letter of Credit shall be deemed to be a representation that all such conditions have been satisfied:

Appears in 3 contracts

Samples: Loan and Security Agreement (Dreams Inc), Loan and Security Agreement (Dreams Inc), Loan and Security Agreement (Transcend Services Inc)

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Conditions Precedent to Each Loan and Letter of Credit. In addition to any other requirements set forth in this Agreement, Lender shall not be required to fund any Loan or issue any Letter of Credit (including those made or issued on the Closing Date) unless and until each of the following conditions shall have been satisfied, in Lender’s sole opinion, and each request for a Loan (whether or not a written Notice of Borrowing is required) or the issuance of a Letter of Credit shall be deemed to be a representation that all such conditions have been satisfied:

Appears in 1 contract

Samples: Loan Agreement (Sturm Ruger & Co Inc)

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Conditions Precedent to Each Loan and Letter of Credit. In addition to any other requirements set forth in this Agreement, Lender shall not be required to fund any Loan or issue any Letter of Credit (including those made or issued on the Closing Date) unless and until each of the following conditions shall have been satisfied, in Lender’s sole opinion, exercised in Good Faith, and each request for a Loan (whether or not a written Notice of Borrowing is required) or the issuance of a Letter of Credit shall be deemed to be a representation that all such conditions have been satisfied:

Appears in 1 contract

Samples: Loan and Security Agreement (Englobal Corp)

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