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

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing and the obligation of each Issuing Bank to Issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing or such Issuance (as the case may be) (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or such Issuance shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance such statements are true): (i) the representations and warranties contained in Section 4.01 and in each other Loan Document are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, before and after giving effect to such Borrowing or such Issuance and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, and (ii) no event has occurred and is continuing, or would result from such Borrowing or such Issuance or from the application of the proceeds therefrom, that constitutes a Default; and (iii) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.

Appears in 4 contracts

Samples: Fifth Amendment to Credit Agreement (Science Applications International Corp), Credit Agreement (Science Applications International Corp), Credit Agreement (Science Applications International Corp)

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Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing Revolving Credit Borrowing, and the obligation of each the Issuing Bank to Issue issue a Letter of Credit Credit, shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing or such Issuance (as the case may be) issuance: (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Revolving Credit Borrowing, Notice of Issuance and the acceptance by the any Borrower of the proceeds of such Revolving Credit Borrowing or of such Issuance Letter of Credit shall constitute a representation and warranty by the such Borrower that both on the date of such notice and on the date of such Revolving Credit Borrowing or such Issuance issuance such statements are true): (i) the representations and warranties contained in Section 4.01 and in each other Loan Document are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, before and after giving effect to such Revolving Credit Borrowing or such Issuance issuance and to the application of the proceeds therefrom, and additionally, if such Revolving Credit Borrowing shall have been requested by a Designated Subsidiary, the representations and warranties of such Designated Subsidiary contained in its Designation Letter as though made on and as of such date except where other than any such representations and or warranties expressly that, by their terms, refer to an earlier datea specific date other than the date of such Revolving Credit Borrowing or issuance, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such specific date, and; (ii) no event has occurred and is continuing, or would result from such Revolving Credit Borrowing or such Issuance issuance or from the application of the proceeds therefrom, that constitutes a Default; and (iiib) the Administrative Agent shall have received such other approvals, opinions or documents as any Lender Party through the Administrative Agent may reasonably request.

Appears in 2 contracts

Samples: Credit Agreement (International Rectifier Corp /De/), Credit Agreement (International Rectifier Corp /De/)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing and the obligation of each Issuing Bank to Issue a Letter of Credit shall be subject to the conditions precedent that the Effective Revolving Credit Facility Availability Date shall have occurred and on the date of such Borrowing or such Issuance (as the case may be) (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or such Issuance shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance 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 and in each other Loan Document subsection (g)(i) thereof) are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, before and after giving effect to such Borrowing or such Issuance and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer refers to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such datedate on and after giving effect to, such Borrowing or such Issuance, and (ii) no event has occurred and is continuing, or would result from such Borrowing or such Issuance or from the application of the proceeds therefrom, that constitutes a Default; and and (iiib) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.

Appears in 2 contracts

Samples: Credit Agreement (SAIC Gemini, Inc.), Credit Agreement (Science Applications International Corp)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an a Base Rate Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Revolving Credit Borrowing and the obligation of each Issuing Bank to Issue issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing or such Issuance (as the case may be) (a) the following statements shall be true (and each of the giving of the applicable Notice of Revolving Credit Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Revolving Credit Borrowing or of such Issuance Letter of Credit shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance such statements are true): (i) the representations and warranties contained in Section Section 4.01 (other than the representations and warranties in the last sentence of subsection (e) and in each subsection (f) (other Loan Document than clause (ii) thereof)) are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of the date of such dateRevolving Credit Borrowing, before and after giving effect to such Revolving Credit Borrowing or such Issuance of a Letter of Credit and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, and (ii) no event has occurred and is continuing, or would result from such Revolving Credit Borrowing or such Issuance of a Letter of Credit or from the application of the proceeds therefrom, that constitutes a Default; and and (iiib) the Agent Agents shall have received such other approvals, opinions or documents as any Lender through the Agent Agents may reasonably request.

Appears in 1 contract

Samples: Credit Agreement (Kroger Co)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing and the obligation of each Issuing Bank to Issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing or such Issuance (as the case may be) (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or such Issuance shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance such statements are true): (i) the representations and warranties contained in Section 4.01 and in each other Loan Document are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, before and after giving effect to such Borrowing or such Issuance and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, and (ii) no event has occurred and is continuing, or would result from such Borrowing or such Issuance or from the application of the proceeds therefrom, that constitutes a Default; and (iii) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.. 105

Appears in 1 contract

Samples: Fourth Amendment (Science Applications International Corp)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an a Base Rate Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Revolving Credit Borrowing and the obligation of each Issuing Bank to Issue issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing or such Issuance (as the case may be) (a) the following statements shall be true (and each of the giving of the applicable Notice of Revolving Credit Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Revolving Credit Borrowing or of such Issuance Letter of Credit shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance such statements are true): (i) the representations and warranties contained in Section 4.01 (other than the representations and warranties in the last sentence of subsection (e) and in each subsection (f) (other Loan Document than clause (ii) thereof)) are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of the date of such dateRevolving Credit Borrowing, before and after giving effect to such Revolving Credit Borrowing or such Issuance of a Letter of Credit and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, and (ii) no event has occurred and is continuing, or would result from such Borrowing or such Issuance or from the application of the proceeds therefrom, that constitutes a Default; and (iii) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.

Appears in 1 contract

Samples: Credit Agreement (Kroger Co)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Revolving Credit Borrowing (including the initial Borrowing), and the obligation right of each Issuing Bank the Borrower to Issue a Letter request the issuance of Letters of Credit (including the initial issuance of Letters of Credit), shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing or such Issuance (as the case may be) issuance (a) the following statements shall be true (and each of the giving of the applicable Notice of Revolving Credit Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Revolving Credit Borrowing or by the Borrower of such Issuance Letter of Credit shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance issuance such statements are true): (i) the representations and warranties contained in Section 4.01 and in each other Loan Document are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of the date of such dateRevolving Credit Borrowing or issuance, before and after giving effect to such Revolving Credit Borrowing or such Issuance issuance and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, and (ii) no event has occurred and is continuing, or would result from such Revolving Credit Borrowing or such Issuance issuance or from the application of the proceeds therefrom, that constitutes a Default; and and (iiib) the Administrative Agent shall have received such other approvals, opinions or documents as any Lender or the Issuing Bank through the Administrative Agent may reasonably request.

Appears in 1 contract

Samples: Credit Agreement (Maxtor Corp)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an a Revolving Credit Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c2.04(c)) on the occasion of each Revolving Credit Borrowing and the obligation obligations of each Issuing Bank to Issue issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing or such Issuance (as the case may be) issuance (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Revolving Credit Borrowing, Notice of Issuance and the acceptance by the Borrower of the proceeds of such Revolving Credit Borrowing or such Issuance shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance issuance such statements are true): (i) the representations and warranties contained in Section 4.01 and (except the representations set forth in each other Loan Document the last sentence of subsection (e) thereof) are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, before and after giving effect to such Revolving Credit Borrowing or such Issuance issuance and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, and (ii) no event has occurred and is continuing, or would result from such Revolving Credit Borrowing or such Issuance issuance or from the application of the proceeds therefrom, that constitutes a Default; and and (iiib) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.

Appears in 1 contract

Samples: Credit Agreement (Pepsiamericas Inc/Il/)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing and the obligation of each Issuing Bank to Issue a Letter of Credit shall be subject to the conditions precedent that the Amendment and Restatement Effective Date shall have occurred and on the date of such Borrowing or such Issuance (as the case may be) (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or such Issuance shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance such statements are true): (i) the representations and warranties contained in Section 4.01 and in each other Loan Document are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, before and after giving effect to such Borrowing or such Issuance and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer refers to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such datedate on and after giving effect to, such Borrowing or such Issuance, and (ii) no event has occurred and is continuing, or would result from such Borrowing or such Issuance or from the application of the proceeds therefrom, that constitutes a Default; and (iii) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.

Appears in 1 contract

Samples: Credit Agreement (Science Applications International Corp)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c2.04(c)) on the occasion of each Revolving Credit Borrowing and the obligation of each Issuing Bank to Issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing or such Issuance (issuance, as the case may be) , (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Revolving Credit Borrowing, Notice of Issuance and the acceptance by the Borrower requesting such Revolving Credit Borrowing or issuance of the proceeds of such Revolving Credit Borrowing or such Issuance issuance shall constitute a representation and warranty by the such Borrower that on the date of such Borrowing or such Issuance issuance such statements are true): (i) the representations and warranties of the Company contained in Section 4.01 (except the representations set forth in the last sentence of subsection (e) thereof and in each other Loan Document subsections (f), (h)-(l) and (n) thereof) are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of the date of such dateRevolving Credit Borrowing or issuance, before and after giving effect to such Revolving Credit Borrowing or such Issuance issuance and to the application of the proceeds therefrom, as though made on and as of such date except where date, and additionally, if such Revolving Credit Borrowing or issuance shall have been requested by a Designated Subsidiary, the representations and warranties expressly refer of such Designated Subsidiary contained in its Designation Letter are correct on and as of the date of such Revolving Credit Borrowing or issuance, before and after giving effect to an earlier datesuch Revolving Credit Borrowing or issuance and to the application of the proceeds therefrom, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) as though made on and as of such date, and (ii) no event has occurred and is continuing, or would result from such Revolving Credit Borrowing or such Issuance issuance or from the application of the proceeds therefrom, that constitutes a Default; and and (iiib) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.

Appears in 1 contract

Samples: Credit Agreement (Honeywell International Inc)

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Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an a Revolving Credit Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c2.04(c)) on the occasion of each Revolving Credit Borrowing and the obligation of each Issuing Bank to Issue issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing or such Issuance issuance (as the case may be) (a) the following statements shall be true (and each of the giving of the applicable Notice of Revolving Credit Borrowing or Notice of Issuance Issuance, and the acceptance by the Borrower of the proceeds of such Revolving Credit Borrowing or such Issuance shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or date of such Issuance issuance such statements are true): (i) the representations and warranties contained in Section 4.01 and (except the representations set forth in each other Loan Document subsection (b) or (f)(ii) thereof) are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, before and after giving effect to such Revolving Credit Borrowing or such Issuance issuance and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, and (ii) no event has occurred and is continuing, or would result from such Revolving Credit Borrowing or such Issuance issuance (as the case may be) or from the application of the proceeds therefrom, that constitutes a Default; and and (iiib) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.

Appears in 1 contract

Samples: Credit Agreement (Phelps Dodge Corp)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing and the obligation of each Issuing Bank to Issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing or such Issuance (as the case may be) ) (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or such Issuance shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance such statements are true): ): (i) the representations and warranties contained in Section 4.01 and in each other Loan Document are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, before and after giving effect to such Borrowing or such Issuance and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, and (ii) no event has occurred and is continuing, or would result from such Borrowing or such Issuance or from the application of the proceeds therefrom, that constitutes a Default; and (iii) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.112

Appears in 1 contract

Samples: Credit Agreement (Science Applications International Corp)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance Loan (other than an Advance a Loan made (x) on the Closing Date or (y) by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing and the obligation of each Issuing Bank to Issue a Letter of Credit shall be subject to the conditions precedent that the Effective Closing Date shall have occurred and and, on the date of such Borrowing or such Issuance (as the case may be) (a) ), the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or such Issuance shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance such statements are true):: (i) the representations and warranties contained in Section 4.01 Article IV and in each other Loan Document are true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of such date, before and after giving effect to such Borrowing or such Issuance and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer refers to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such earlier date, and; (ii) no event has occurred and is continuing, or would result from such Borrowing or such Issuance or from the application of the proceeds therefrom, that constitutes a Default; and (iii) the Agent shall have received a Notice of Borrowing or Notice of Issuance. Each Revolving Credit Borrowing and each Issuance of a Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date thereof that the matters specified in clauses (i) and (ii) of this Section 3.02 are true; provided, however, (A) the application of such other approvalsclauses (i) and (ii) hereto to any Incremental Revolving Credit Loan made in connection with any Limited Condition Acquisition shall, opinions at the Borrower’s option, be subject to Section 1.07 and (B) clauses (i) and (ii) hereto shall not apply to any Loans made under any Refinancing Amendment or documents Extension Amendment unless the lenders in respect thereof have required satisfaction of the same in the applicable Refinancing Amendment or Extension Amendment, as any Lender through the Agent may reasonably requestapplicable.

Appears in 1 contract

Samples: Credit Agreement (Leidos Holdings, Inc.)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing and the obligation of each Issuing Bank to Issue a Letter of Credit shall be subject to the conditions precedent that the Tranche B Effective Date shall have occurred and on the date of such Borrowing or such Issuance (as the case may be) (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or such Issuance shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance such statements are true): (i) the representations and warranties contained in Section 4.01 and in each other Loan Document are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such date, before and after giving effect to such Borrowing or such Issuance and to the application of the proceeds therefrom, as though made on and as of such date except where such representations and warranties expressly refer refers to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of such datedate on and after giving effect to, such Borrowing or such Issuance, and (ii) no event has occurred and is continuing, or would result from such Borrowing or such Issuance or from the application of the proceeds therefrom, that constitutes a Default; and (iii) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.

Appears in 1 contract

Samples: Credit Agreement (Science Applications International Corp)

Conditions Precedent to Each Revolving Credit Borrowing and Issuance. The obligation of each Revolving Credit Lender to make a Revolving Credit Advance (other than an Advance made by any Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c2.04(c)) on the occasion of each Borrowing Revolving Credit Borrowing, and the obligation of each the Issuing Bank to Issue issue a Letter of Credit Credit, shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing or such Issuance (issuance, as the case may be) , (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Revolving Credit Borrowing, Notice of Issuance and the acceptance by the Borrower requesting such Revolving Credit Borrowing or issuance of the proceeds of such Revolving Credit Borrowing or such Issuance issuance shall constitute a representation and warranty by the such Borrower that on the date of such Borrowing or such Issuance issuance such statements are true): (i) the representations and warranties of the Company contained in Section 4.01 (except the representations set forth in the last sentence of subsection (e) thereof and in each other Loan Document subsections (f), (h)-(l) and (n) thereof) are correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) on and as of the date of such dateRevolving Credit Borrowing or issuance, before and after giving effect to such Revolving Credit Borrowing or such Issuance issuance and to the application of the proceeds therefrom, as though made on and as of such date except where date, and additionally, if such Revolving Credit Borrowing or issuance shall have been requested by a Designated Subsidiary, the representations and warranties expressly refer of such Designated Subsidiary contained in its Designation Letter are correct on and as of the date of such Revolving Credit Borrowing or issuance, before and after giving effect to an earlier datesuch Revolving Credit Borrowing or issuance and to the application of the proceeds therefrom, in which case such representations and warranties shall be true and correct in all material respects (except for those representations and warranties that are qualified by materiality or Material Adverse Effect, which shall be correct in all respects) as though made on and as of such date, and (ii) no event has occurred and is continuing, or would result from such Revolving Credit Borrowing or such Issuance issuance or from the application of the proceeds therefrom, that constitutes a Default; and and (iiib) the Agent shall have received such other approvals, opinions or documents as any Lender through the Agent may reasonably request.

Appears in 1 contract

Samples: Credit Agreement (Honeywell International Inc)

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