Common use of Conditions Precedent to Liquidity Advances Clause in Contracts

Conditions Precedent to Liquidity Advances. Following any LC Disbursement constituting a Liquidity Drawing, a Liquidity Advance shall be made available to the Applicant only if on the date of payment of such Liquidity Drawing by the Issuing Bank the following statements shall be true and correct: (a) the representations and warranties of each Credit Party contained in Article IV of this Agreement (other than the representations and warranties contained in Sections 4.5, 4.6(ii) and 4.11) are true and correct in all material respects (except for such representations and warranties which are already subject to a materiality or Material Adverse Effect qualifier, which representations and warranties shall be true and correct in all respects) on and as of the date of such payment as though made on and as of such date; and (b) no event has occurred and is continuing, or would result from such payment, which constitutes a Default or Event of Default. Unless the Applicant or the Guarantor shall have previously advised the Administrative Agent in writing that one or both of the above statements is no longer true, the Applicant and the Guarantor 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. Following any LC Disbursement constituting a Liquidity Drawing, a Liquidity Advance shall be made available to the Applicant only if on the date of payment of such Liquidity Drawing by the Issuing Bank the following statements shall be true and correct: (a) the representations and warranties of each Credit Party the Applicant contained in Article IV of this Agreement (other than the representations and warranties contained in Sections 4.5, 4.6(iithe last sentence of clause (f) and 4.11of Article IV) are true and correct in all material respects (except for such representations and warranties which are already subject to a materiality or Material Adverse Effect Change qualifier, which representations and warranties shall be true and correct in all respects) on and as of the date of such payment as though made on and as of such date; and (b) no event has occurred and is continuing, or would result from such payment, which constitutes a Potential Default or Event of Default. Unless the Applicant or the Guarantor shall have previously advised the Administrative Agent in writing that one or both of the above statements is no longer true, the Applicant and the Guarantor 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. Following any LC Disbursement constituting a Liquidity Drawing, a Liquidity Advance in respect of the portion of such Liquidity Drawing representing the interest component of the purchase price of the Bonds and the corresponding Pledged Bonds shall be made available to the Applicant only if on the date of payment of such Liquidity Drawing by the Issuing Bank the following statements shall be true and correct: (a) the representations and warranties of each Credit Party the Applicant contained in Article IV of this Agreement (other than the representations and warranties contained set forth in Sections 4.5Section 4.4(b), 4.6(ii4.6(a)(i) and 4.114.6(c)) are true and correct in all material respects (except for such representations and warranties which are already subject to a materiality or Material Adverse Effect qualifier, which representations and warranties shall be true and correct in all respects) on and as of the date of such payment as though made on and as of such date (except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct as of such earlier date); and (b) no event has occurred and is continuing, or would result from such payment, which constitutes a Default or Event of Default. Unless the Applicant or the Guarantor shall have previously advised the Administrative Agent in writing that one or both of the above statements is no longer true, the Applicant and the Guarantor 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. Following any LC Disbursement constituting payment by the Lender under the Letter of Credit pursuant to a Liquidity Drawing, a Liquidity Advance shall be made available to the Applicant Lender only if on the date of payment of such Liquidity Drawing by the Issuing Bank Lender the following statements shall be true and correcttrue: (a) the representations and warranties of each Credit Party the Borrower contained in Article IV of this Agreement (other than and in the representations and warranties contained in Sections 4.5, 4.6(ii) and 4.11) Bond Documents are true and correct in all material respects (except for such representations and warranties which are already subject to a materiality or Material Adverse Effect qualifier, which representations and warranties shall be true and correct in all respects) on and as of the date of such payment as though made on and as of such date (except to the extent any such representation and warranty expressly relates to an earlier date, in which case such representation and warranty shall have been correct in all material respects as of such earlier date); and (b) no event has occurred and is continuing, or would result from such payment, which constitutes a Default or an Event of Default. Unless the Applicant or the Guarantor Borrower shall have previously advised the Administrative Agent Lender in writing that one or both of the above statements is no longer true, the Applicant and the Guarantor Borrower shall be deemed to have represented and warranted on the date of such payment that both of the above statements are true and correct.