Conditions Precedent to Each. Revolving Credit --------------------------------------------- Borrowing, Increase Date and Extension Date. The obligation of each Lender to ------------------------------------------- make a Revolving Credit Advance on the occasion of each Revolving Credit Borrowing, each Commitment Increase and each extension of Commitments pursuant to Section 2.17 shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing, the applicable Increase Date and the applicable Extension Date (a) the following statements shall be true (and each of the giving of the applicable Notice of Revolving Credit Borrowing, request for Commitment Increase, request for Commitment extension and the acceptance by the applicable Borrower of the proceeds of such Revolving Credit Borrowing shall constitute a representation and warranty by such Borrower that on the date of such Borrowing, such Increase Date and such Extension Date 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 subsection (f) thereof (other than clause (ii) thereof)) are correct in all material respects on and as of the date of such Revolving Credit Borrowing, before and after giving effect to such Revolving Credit Borrowing and to the application of the proceeds therefrom, such Commitment Increase or Commitment extension 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 from the application of the proceeds therefrom, that constitutes a Default; and (b) the Administrative Agent shall have received such other approvals, opinions or documents as any Lender through the Administrative Agent may reasonably request.
Appears in 1 contract
Conditions Precedent to Each. Revolving Advance, Letter of Credit --------------------------------------------- Borrowing, Increase Date ---------------------------------------------------------------- Obligation and Extension Datethe Term Loan. The obligation It shall be a condition to the funding of each Lender to ------------------------------------------- make a Revolving Credit Advance on the occasion of each Revolving Credit Borrowing, each Commitment Increase ---------------------------- initial and each extension of Commitments pursuant to Section 2.17 shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such subsequent Revolving Credit Borrowing, the applicable Increase Date Advance and the applicable Extension Date (a) Term Loan and the incurrence of the initial and each subsequent Letter of Credit Obligation that the following statements shall be true (and each of the giving of the applicable Notice of Revolving Credit Borrowing, request for Commitment Increase, request for Commitment extension and the acceptance by the applicable Borrower of the proceeds of such Revolving Credit Borrowing shall constitute a representation and warranty by such Borrower that on the date of each such Borrowing, such Increase Date and such Extension Date such statements are true):funding or advance:
(ia) the All of Borrower's representations and warranties contained herein or in Section 4.01 (except any of the representations set forth in the last sentence of subsection (e) thereof Loan Documents shall be true and in subsection (f) thereof (other than clause (ii) thereof)) are correct in all material respects on and as of the Closing Date and the date of each such Revolving Advance and the date any Letter of Credit Borrowing, before and after giving effect to such Revolving Credit Borrowing and to the application of the proceeds therefrom, such Commitment Increase or Commitment extension Obligation is incurred as though made on and as of such date, andexcept to the extent that any such representation or warranty expressly relates to an earlier date and for changes therein permitted or contemplated by this Agreement.
(iib) no No event has shall have occurred and is be continuing, or would result from such the funding of any Revolving Advance or the Term Loan or the incurrence of any Letter of Credit Obligation, which (i) constitutes or would constitute a Default or an Event of Default, or (ii) which has a Material Adverse Effect.
(c) After giving effect to each Revolving Advance, and the Letter of Credit Obligations, the aggregate principal amount of the Revolving Loan and Letter of Credit Obligations shall not exceed the lesser of (i) the Maximum Revolving Loan minus the then outstanding amount of Grower Payables, or (ii) the ----- Borrowing or from the application Base. The acceptance by Borrower of the proceeds therefrom, that constitutes a Default; and of (bi) any Revolving Advance or (ii) the Administrative Agent Term Loan and the request by Borrower for the incurrence by Revolving Lenders of Letter of Credit Obligations, as the case may be, shall be deemed to constitute, as of the date of such acceptance, a representation and warranty by Borrower that the conditions in this Section 4.2 have received such other approvals, opinions or documents as any Lender through the Administrative Agent may reasonably requestbeen satisfied.
Appears in 1 contract
Samples: Credit Agreement (Beringer Wine Estates Holdings Inc)
Conditions Precedent to Each. Revolving Credit --------------------------------------------- Borrowing, Increase Date Borrowing ------------------------------------------------------- and Extension Date. The obligation of each Lender to ------------------------------------------- make a Revolving Credit -------------- Advance on the occasion of each Revolving Credit Borrowing, each Commitment Increase Borrowing and each extension of Commitments pursuant to Section 2.17 shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing, the applicable Increase Date and Borrowing or the applicable Extension Date (a) the following statements shall be true (and each of the giving of the applicable Notice of Revolving Credit Borrowing, request for Commitment Increase, request for Commitment extension Extension and the acceptance by the applicable relevant Borrower of the proceeds of such Revolving Credit Borrowing shall constitute a representation and warranty by such Borrower that on the date of such Borrowing, such Increase Date and Revolving Credit Borrowing or such Extension Date such statements are true):
(ia) the representations and warranties contained in Section 4.01 (except in the case of each Revolving Credit Borrowing, the representations set forth in the last sentence of subsection (e) thereof and in subsection (f) thereof (other than clause (iif)(i) thereof)) are correct in all material respects on and as of the date of such Revolving Credit BorrowingBorrowing or such Extension Date, before and after giving effect to such Revolving Credit Borrowing or such Extension Date and to the application of the proceeds therefrom, such Commitment Increase or Commitment extension as though made on and as of such date, and
(iib) no event has occurred and is continuing, or would result from such Revolving Credit Borrowing or such Extension Date or from the application of the proceeds therefrom, that constitutes a Default; and (b) the Administrative Agent shall have received such other approvals, opinions or documents as any Lender through the Administrative Agent may reasonably request.
Appears in 1 contract
Samples: Credit Agreement (Monsanto Co /New/)
Conditions Precedent to Each. Revolving Credit --------------------------------------------- Borrowing, Increase Date and Extension Date. The obligation of each Lender to ------------------------------------------- make a Revolving Credit Advance on the occasion of each Revolving Credit Borrowing, each Commitment Increase and each extension of Commitments pursuant to Section 2.17 2.19 shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing, Borrowing the applicable Increase Date and or the applicable Extension Date (a) the following statements shall be true (and each of the giving of the applicable Notice of Revolving Credit Borrowing, request for Commitment Increase, request for Commitment extension Extension and the acceptance by the applicable Borrower of the proceeds of such Revolving Credit Borrowing shall constitute a representation and warranty by such the Borrower that on the date of such Borrowing, such Increase Date and or such Extension Date 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 subsection (f) thereof (other than clause (iif)(i) thereof)) are correct in all material respects on and as of the date of such Revolving Credit Borrowingdate, before and after giving effect to such Revolving Credit Borrowing Borrowing, such Increase Date or such Extension Date and to the application of the proceeds therefrom, such Commitment Increase or Commitment extension 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 Borrowing, such Increase Date, such Extension Date or from the application of the proceeds therefrom, that constitutes a Default; and (b) the Administrative Agent shall have received such other approvals, opinions or documents as any Lender through the Administrative Agent may reasonably request.
Appears in 1 contract
Samples: Credit Agreement (Pe Corp)
Conditions Precedent to Each. Revolving Borrowing Increasing the Aggregate Amount of Advances and each Letter of Credit --------------------------------------------- Borrowing, Increase Date and Extension DateIssuance. The obligation of each Lender to ------------------------------------------- make a Revolving Credit an A Advance on the occasion of each Revolving A Borrowing (including the initial A Borrowing) which would increase the aggregate outstanding amount of A Advances owing to such Lender over the aggregate outstanding amount of A Advances owing to such Lender immediately prior to the making of such A Advance, and the obligation of each Issuing Bank to issue a Letter of Credit Borrowing, each Commitment Increase and each extension of Commitments pursuant to Section 2.17 shall be subject to the further conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing, the applicable Increase Date and the applicable Extension Date (a) A Borrowing or issuance the following statements shall be true (and each of the giving of the applicable Notice of Revolving Credit A Borrowing, request for Commitment Increase, request for Commitment extension Notice of Issuance and the acceptance by the applicable Borrower of the proceeds of such Revolving A Borrowing or of such Letter of Credit Borrowing shall constitute a representation and warranty by such the Borrower that on the date of such Borrowing, such Increase Date and such Extension Date A Borrowing or issuance such statements are true):
(ia) the The representations and warranties contained in Section 4.01 (except the representations set forth in the last sentence of subsection (e) thereof and in subsection (f) thereof (other than clause (ii) thereof)) each Loan Document are correct in all material respects on and as of the date of such Revolving A Borrowing or Letter of Credit Borrowingissuance, before and after giving effect to such Revolving Credit Borrowing or issuance and to the application of the proceeds therefrom, such Commitment Increase or Commitment extension as though made on and as of such date, and
(iib) no No event has occurred and is continuing, or would result from such Revolving Credit Borrowing A Borrowing, such issuance or from the application of the proceeds therefrom, which constitutes an Event of Default or which would constitute an Event of Default but for the requirement that constitutes a Default; and (b) the Administrative Agent shall have received such other approvals, opinions notice be given or documents as any Lender through the Administrative Agent may reasonably requesttime elapse or both.
Appears in 1 contract
Samples: Credit Agreement (Olin Corp)