Conditions to Advances. The obligation of the Bank to make any Advance is subject to the following conditions: (i) the satisfaction of each condition in Section 4.01 hereof on or prior to the Effective Date, (ii) receipt by the Bank of a properly presented and conforming Notice of Borrowing in accordance with Section 2.02(a) hereof and (iii) no Special Event of Default or Suspension Event shall have occurred and be continuing. In addition, the Bank shall have no obligation to make an Advance the proceeds of which shall be used to pay the principal of or interest on any maturing Commercial Paper Note that was adopted by the City or the Issuing and Paying Agent after receipt by the Issuing and Paying Agent and the City of a
Appears in 3 contracts
Samples: Revolving Credit Agreement, Revolving Credit Agreement, Revolving Credit Agreement
Conditions to Advances. (a) The obligation of the Bank to make any Advance is subject to the following conditions: (i) the satisfaction of each condition in Section 4.01 hereof on or prior to the Effective Date, (ii) receipt by the Bank of a properly presented and conforming Notice of Borrowing in accordance with Section 2.02(a) hereof and (iii) the satisfaction of the further condition that no Special Event of Default or Suspension Event shall have occurred and be continuing. In addition, the Bank shall have no obligation to make an Advance the proceeds of which shall be used to pay the principal of or interest on any maturing Commercial Paper Note that was adopted by the City or the Issuing and Paying Agent after receipt by the Issuing and Paying Agent and the City of a
Appears in 2 contracts
Samples: Revolving Credit Agreement, Revolving Credit Agreement
Conditions to Advances. The obligation of the Bank to make any Advance is subject to the following conditions: (i) the satisfaction of each condition in Section 4.01 hereof on or prior to the Amendment Effective Date, (ii) receipt by the Bank of a properly presented and conforming Notice of Borrowing in accordance with Section 2.02(a) hereof and (iii) no Special Event of Default or Suspension Event shall have occurred and be continuing. In addition, the Bank shall have no obligation to make an Advance the proceeds of which shall be used to pay the principal of or interest on any maturing Commercial Paper Note that was adopted by the City or the Issuing and Paying Agent after receipt by the Issuing and Paying Agent and the City of a
Appears in 1 contract
Samples: Credit Agreement
