Common use of Conditions Precedent to Each Revolving Borrowing Clause in Contracts

Conditions Precedent to Each Revolving Borrowing. The ------------------------------------------------ obligation of each Lender to make a Revolving Advance on the occasion of each Revolving Borrowing shall be subject to the further conditions precedent that on the date of such Revolving Borrowing the following statements shall be true (and each of the giving of the applicable Notice of Revolving Borrowing and the acceptance by the Borrower of the proceeds of such Revolving Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Revolving Borrowing such statements are true): (i) The representations and warranties contained in Section 4.01 (except the representations set forth in the last sentence of subsection (e) thereof) are correct on and as of the date of such Revolving Borrowing, before and after giving effect to such Revolving 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 Revolving Borrowing or from the application of the proceeds therefrom, that constitutes a Default.

Appears in 3 contracts

Samples: Credit Agreement (Cytec Industries Inc/De/), 364 Day Credit Agreement (Cytec Industries Inc/De/), Credit Agreement (Cytec Industries Inc/De/)

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Conditions Precedent to Each Revolving Borrowing. The ------------------------------------------------ obligation of each Lender to make a Revolving Advance on the occasion of each Revolving Borrowing shall be subject to the further conditions precedent that on the date of such Revolving Borrowing the following statements shall be true (and each of the giving of the applicable Notice of Revolving Borrowing and the acceptance by the Borrower of the proceeds of such Revolving Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Revolving Borrowing such statements are true): (i) The representations and warranties contained in Section 4.01 (except the representations set forth in the last sentence of subsection (e) thereof) are correct on and as of the date of such Revolving Borrowing, before and after giving effect to such Revolving 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 Revolving Borrowing or from the application of the proceeds therefrom, that constitutes a Default.

Appears in 2 contracts

Samples: Credit Agreement (Cytec Industries Inc/De/), Credit Agreement (Cytec Industries Inc/De/)

Conditions Precedent to Each Revolving Borrowing. The ------------------------------------------------ obligation of each Lender to make a Revolving Advance on the occasion of each Revolving Borrowing (including the initial Revolving Borrowing) shall be subject to the further conditions precedent that on the date of such Revolving Borrowing (a) the following statements shall be true (and each of the giving of the applicable Notice of Revolving Borrowing and the acceptance by the Borrower of the proceeds of such Revolving Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Revolving Borrowing such statements are true): (i) The representations and warranties contained in Section 4.01 (except the representations set forth in the last sentence of subsection (e) thereof) are correct on and as of the date of such Revolving Borrowing, before and after giving effect to such Revolving 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 Revolving Borrowing or from the application of the proceeds therefrom, that which constitutes a an Event of Default or Default.; and (b) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request in connection with the satisfaction of the conditions set forth in clauses (i) and (ii) above. ARTICLE IV

Appears in 1 contract

Samples: Revolving Credit Agreement (Foundation Health Systems Inc)

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Conditions Precedent to Each Revolving Borrowing. The ------------------------------------------------ obligation of each Lender to make a Revolving Advance on the occasion of each Revolving Borrowing shall be subject to the further conditions precedent that on the date of such Revolving Borrowing the following statements shall be true (and each of the giving of the applicable Notice of Revolving Borrowing and the acceptance by the Borrower of the proceeds of such Revolving Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Revolving Borrowing such statements are true): (i) The representations and warranties contained in Section 4.01 (except the representations set forth in the last sentence of subsection (e) thereof) are correct on and as of the date of such Revolving Borrowing, before and after giving effect to such Revolving 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 Revolving Borrowing or from the application of the proceeds therefrom, that constitutes a Default, and (iii) After giving effect to such Revolving Borrowing, the aggregate amount of Debt of the Borrower and of the Borrower and its Subsidiaries will not contravene (A) any provision contained in the Borrower's charter or by-laws or (B) any contractual restriction binding on or affecting the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Cytec Industries Inc/De/)

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