Common use of Conditions Precedent to Issuance of Letters of Credit Clause in Contracts

Conditions Precedent to Issuance of Letters of Credit. The obligation of the Issuing Bank to issue each Letter of Credit hereunder is subject to the fulfillment of each of the following conditions immediately prior to or contemporaneously with such issuance: (a) All of the representations and warranties under this Agreement and the other Loan Documents (including, without limitation, all representations and warranties with respect to the Borrower's Subsidiaries), which, pursuant to Section 4.2 hereof, are made at and as of the time of the issuance of such Letter of Credit, shall be true and correct at such time, both before and after giving effect to the issuance of such Letter of Credit, and after giving effect to any updates to information provided to the Lenders in accordance with the terms of such representations and warranties; (b) There shall not exist, on the date of the issuance of such Letter of Credit and after giving effect thereto, a Default hereunder and the Funding Agent shall have received a Request for Issuance of a Letter of Credit so certifying; (c) Each of the Co-Administrative Agents, the Issuing Bank and each of the Lenders shall have received all such other certificates, reports, statements, opinions of counsel or other documents as any of them may reasonably request; and (d) There shall have occurred no Materially Adverse Effect.

Appears in 1 contract

Samples: Loan Agreement (Vanguard Cellular Systems Inc)

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Conditions Precedent to Issuance of Letters of Credit. The ----------------------------------------------------- obligation of the Issuing Bank to issue each Letter of Credit hereunder is subject to the fulfillment of each of the following conditions immediately prior to or contemporaneously with such issuance: (a) All of the representations and warranties of the Borrower under this Agreement and the other Loan Documents (including, without limitation, all representations and warranties with respect to the Borrower's Subsidiaries)Agreement, which, pursuant to in accordance with Section 4.2 hereof, are made at and as of the time of the issuance of such Letter of Creditan Advance, shall be true and correct at such timecorrect, both before and after giving effect to the issuance of such Letter of Credit, and after giving effect to any updates to information provided to the Lenders in accordance with the terms of such representations and warranties; (b) The incumbency of the Authorized Signatories shall be as stated in the applicable certificate of incumbency contained in the certificate of the Borrower delivered pursuant to Section 3.1(a) hereof or as subsequently modified and reflected in a certificate of incumbency delivered to the Administrative Agent and the Banks having a Revolving Loan Commitment; (c) There shall not exist, on the date of the issuance of such Letter of Credit and after giving effect thereto, a Default or an Event of Default hereunder and and, the Funding Administrative Agent shall have received a Request for Issuance of a Letter of Credit so certifying;; and (cd) Each of the Co-The Administrative AgentsAgent, the Issuing Bank and each of the Lenders Banks having a Revolving Loan Commitment shall have received all such other certificates, reports, statements, opinions of counsel (if such Letter of Credit is in connection with an Acquisition) or other documents as any of them may reasonably request; and (d) There shall have occurred no Materially Adverse Effect."

Appears in 1 contract

Samples: Ats Facility a Loan Agreement (American Tower Corp /Ma/)

Conditions Precedent to Issuance of Letters of Credit. The obligation of the Issuing Bank to issue each Letter of Credit hereunder is subject to the fulfillment of each of the following conditions immediately prior to or contemporaneously with such issuance: (a) All of the representations and warranties of the Borrower under this Agreement and the other Loan Documents (including, without limitation, all representations and warranties with respect to the Borrower's Subsidiaries), which, pursuant to Section 4.2 hereof, are made at and as of the time of the such issuance of such Letter of Credit, shall be true and correct at such timetime in all material respects, both before and after giving effect to the issuance of such Letter of Credit, and after giving effect to any updates to information provided to the Lenders in accordance with the terms of such representations and warranties, and no Default hereunder shall then exist or be caused thereby; (b) There shall not exist, on the date of the issuance of such Letter of Credit and after giving effect thereto, a Default hereunder and the Funding The Administrative Agent shall have received a Request for Issuance of a Letter of Credit so certifyingCredit; (c) Each of the Co-The Administrative AgentsAgent, the Issuing Bank and each of the Lenders having a Facility A Commitment shall have received all such other certificates, reports, statements, opinions of counsel (if such Letter of Credit is in connection with an Acquisition) or other documents as any of them may reasonably request; and (d) There No event shall have occurred and no condition shall exist which, in the judgment of the Majority Lenders, has had or may be expected to have a Materially Adverse EffectEffect on the business, assets or financial condition of the Borrower or any of its Subsidiaries.

Appears in 1 contract

Samples: Loan Agreement (Metrocall Inc)

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Conditions Precedent to Issuance of Letters of Credit. The obligation of the Issuing Bank to issue each Letter of Credit hereunder is subject to the fulfillment of each of the following conditions immediately prior to or contemporaneously with such issuance: (a) All of the representations and warranties under this Agreement and the other Loan Documents (including, without limitation, all representations and warranties with respect to the Borrower's Subsidiaries), which, pursuant to Section 4.2 hereof, are made at and as of the time of the issuance of such Letter of CreditCredit (except to the extent previously fulfilled in accordance with the terms hereof and to the extent relating specifically to a specific prior date), shall be true and correct at such timetime in all material respects, both before and after giving effect to the issuance of such Letter of Credit, and after giving effect to any updates to information provided to the Lenders in accordance with the terms of such representations and warranties; (b) There shall not exist, on the date of the issuance of such Letter of Credit and after giving effect thereto, a Default hereunder and the Funding Administrative Agent shall have received a Request for Issuance of a Letter of Credit so certifying;; and (c) Each of the Co-Administrative AgentsAgent, the Issuing Bank and each of the Lenders shall have received all such other certificates, reports, statements, opinions of counsel statements or other documents as any of them may reasonably request; and (d) There shall have occurred no Materially Adverse Effect.

Appears in 1 contract

Samples: Loan Agreement (Tritel Finance Inc)

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