Common use of Conditions Precedent to Liquidity Advances and Term Loan Clause in Contracts

Conditions Precedent to Liquidity Advances and Term Loan. Following any payment by the Bank under the Letter of Credit pursuant to a Liquidity Drawing, a Liquidity Advance and the related Term Loan shall be made available to the City only if on the date of payment of such Liquidity Drawing by the Bank or on the Term Loan Commencement Date, as applicable, the following statements shall be true: (a) the representations and warranties of the City contained in Article Five of this Agreement and in the other Related Documents to which the City is a party are true and correct on and as of the date of such payment as though made on and as of such date except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date; and (b) no event has occurred and is continuing, or would result from such payment or conversion, as applicable, which constitutes a Potential Default or Event of Default. Unless the City shall have previously advised the Bank in writing that one or both of the above statements is no longer true, the City shall be deemed to have represented and warranted on the date of such payment that both of the above statements are true and correct.

Conditions Precedent to Liquidity Advances and Term Loan. Following any payment by the Bank applicable Bank, under the related Letter of Credit pursuant to a Liquidity Drawing, a Liquidity Advance and the related Term Loan shall be made available to the City only if on the date of payment of such Liquidity Drawing by the applicable Bank or on the Term Loan Commencement Date, as applicable, the following statements shall be true: (a) the representations and warranties of the City contained in Article Five of this Agreement and in the other Related Documents to which the City is a party are true and correct in all material respects on and as of the date of such payment as though made on and as of such date except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date; and (b) no event has occurred and is continuing, or would result from such payment or conversion, as applicablepayment, which constitutes a Potential Default or Event of Default. Unless the City shall have previously advised the Bank Administrative Agent in writing that one or both of the above statements is no longer true, the City shall be deemed to have represented and warranted on the date of such payment that both of the above statements are true and correct.

Conditions Precedent to Liquidity Advances and Term Loan. Following any payment by the Bank under the Letter of Credit pursuant to a Liquidity Drawing, a Liquidity Advance and the related Term Loan shall be made available to the City only if on the date of payment of such Liquidity Drawing by the Bank or on the Term Loan Commencement Date, as applicable, the following statements shall be true: (a) the representations and warranties of the City and the Authority contained in Article Five V of this Agreement and in the other Related Documents to which the City is a party are true and correct in all material respects on and as of the date of such payment as though made on and as of such date except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date; and (b) no event has occurred and is continuing, or would result from such payment or conversion, as applicablepayment, which constitutes a Potential Default or Event of Default. Unless the City shall have previously advised the Bank in writing that one or both of the above statements is no longer true, the City shall be deemed to have represented and warranted on the date of such payment that both of the above statements are true and correct.

Conditions Precedent to Liquidity Advances and Term Loan. Following any payment by the Bank under the Letter of Credit pursuant to a Liquidity Drawing, a Liquidity Advance and the related Term Loan shall be made available to the City only if on the date of payment of such Liquidity Drawing by the Bank or on the Term Loan Commencement Date, as applicable, the following statements shall be true: (a) the representations and warranties of the City contained in Article Five of this Agreement and in the other Related Documents to which the City is a party are true and correct on and as of the date of such payment as though made on and as of such date except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date; and (b) no event has occurred and is continuing, or would result from such payment or conversion, as applicable, which constitutes a Potential Default or Event of Default. DRAFT Unless the City shall have previously advised the Bank in writing that one or both of the above statements is no longer true, the City shall be deemed to have represented and warranted on the date of such payment that both of the above statements are true and correct.

Conditions Precedent to Liquidity Advances and Term Loan. Following any payment by the Bank under the Letter of Credit pursuant to a Liquidity Drawing, a Liquidity Advance and the related Term Loan shall be made available to the City only if on the date of payment of such Liquidity Drawing by the Bank or on the Term Loan Commencement Date, as applicable, the following statements shall be true: (a) the representations and warranties of the City contained in Article Five of this Agreement and in the other Related Documents to which the City is a party are true and correct in all material respects on and as of the date of such payment as though made on and as of such date except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date; and (b) no event has occurred and is continuing, or would result from such payment or conversion, as applicable, which constitutes a Potential Default or Event of Default. Unless the City shall have previously advised the Bank in writing that one or both of the above statements is no longer true, the City shall be deemed to have represented and warranted on the date of such payment that both of the above statements are true and correct.

Conditions Precedent to Liquidity Advances and Term Loan. Following any payment by the Bank under the Letter of Credit pursuant to a Liquidity Drawing, a Liquidity Advance and the related Term Loan shall be made available to the City only if on the date of payment of such Liquidity Drawing by the Bank or on the Term Loan Commencement Date, as applicable, the following statements shall be true: (a) the representations and warranties of the City contained in Article Five of this Agreement hereof and in the other Related Documents to which the City is a party are true and correct on and as of the date of such payment as though made on and as of such date except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date; and (b) no event has occurred and is continuing, or would result from such payment or conversion, as applicable, which constitutes a Potential Default or Event of Default. Unless the City shall have previously advised the Bank in writing that one or both of the above statements is no longer true, the City shall be deemed to have represented and warranted on the date of such payment that both of the above statements are true and correct.