Common use of Conditions Precedent to the Borrowing Clause in Contracts

Conditions Precedent to the Borrowing. The obligation of the Lender to make the disbursement on the occasion of the Borrowing shall be subject to the further conditions precedent that on the date of the Borrowing (i) the Lender shall have received the Recognition of Debt in respect of the Borrowing, duly executed by the Borrower, substantially in the form of Exhibit III hereto, and (ii) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, and the acceptance by the Borrower of the proceeds of the Borrowing shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of the Borrowing such statements are true): (a) the representations and warranties contained in the Loan Document are correct on and as of such date, before and after giving effect to the Borrowing and to the application of the proceeds therefrom, as though made on and as of such date; (b) no event has occurred and is continuing, or would result from the Borrowing or from the application of the proceeds therefrom, that constitutes a Default; and

Conditions Precedent to the Borrowing. The obligation of the Lender to make the disbursement an Advance on the occasion of the Borrowing shall be subject to the further conditions precedent that that: (a) the Effective Date shall have occurred and on the date of the Borrowing Borrowing; (i) the Lender shall have received the Recognition of Debt in respect of the Borrowing, duly executed by the Borrower, substantially in the form of Exhibit III hereto, and (iib) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, Borrowing and the acceptance by the Borrower of the proceeds of the Borrowing shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of the Borrowing such statements are true): (ai) the representations and warranties contained in the Loan Document Section 4.01 are correct in all material respects on and as of such datethe date of the Borrowing, before and after giving effect to the Borrowing and to the application of the proceeds therefrom, as though made on and as of such date;, and (bii) no event has occurred and is continuing, or would result from the such Borrowing or from the application of the proceeds therefrom, that constitutes a Default; (c) a the Lender shall have received on or before the date of the Borrowing a Note to the order of the Lender and such other approvals, opinions or documents as the Lender may reasonably request; and (d) PriceSmart, Inc. shall have executed the Collateral Documents and placed funds, for the amount of the Advance, in a time deposit transaction with Citibank N.A. The tenor terms of the Advance shall not exceed the agreed tenor for the time deposit.

Conditions Precedent to the Borrowing. The obligation of the Lender to make the disbursement on the occasion of the Borrowing shall be subject to the further conditions precedent that on the date of the Borrowing (i) the Lender shall have received the Recognition of Debt in respect of the Borrowing, duly executed by the Borrower, substantially in the form of Exhibit III 2 hereto, and (ii) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, and the acceptance by the Borrower of the proceeds of the Borrowing shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of the Borrowing such statements are true):) (a) the representations and warranties contained in the Loan Document are correct on and as of such date, before and after giving effect to the Borrowing and to the application of the proceeds therefrom, as though made on and as of such date;, and, (b) no event has occurred and is its continuing, or would result from the Borrowing or from the application of the proceeds therefrom, that constitutes a Default; and.

Conditions Precedent to the Borrowing. The obligation of the each Lender to make the disbursement a Term Loan on the occasion of the Borrowing shall be subject to the further conditions precedent that on the date of the Borrowing such Borrowing: (ia) the Lender The Administrative Agent shall have received from the Recognition Borrower a Notice of Debt in respect of the Borrowing, duly executed Borrowing requesting such Borrowing as required by the Borrower, substantially in the form of Exhibit III hereto, and Section 2.02. (iib) the The following statements shall be true (and each of the giving of the applicable Notice of Borrowing, Borrowing and the acceptance by the Borrower of the any proceeds of the Borrowing shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of the Borrowing such statements are true): (ai) the The representations and warranties contained in Section 4.01 (excluding those contained in the Loan Document last sentence of subsection (e) and in subsections (f) and (n) thereof) are true and correct on and as of the date of such dateBorrowing, before and after giving effect to the such Borrowing and to the application of the proceeds therefrom, as though made on and as of such date;; and (bii) no No event has occurred and is continuing, or would result from the such Borrowing or from the application of the proceeds therefrom, that constitutes a Default; andan Event of Default or would constitute an Event of Default with notice or lapse of time or both. (c) The Administrative Agent shall have received such other certifications, opinions, financial or other information, approvals and documents as the Administrative Agent or any Lender may reasonably request through the Administrative Agent.