Common use of Conditions to All Loans and Letters of Credit Clause in Contracts

Conditions to All Loans and Letters of Credit. Each Lender’s obligation hereunder to make any Loans to Borrower (including the initial Loans), and the Issuing Lender’s obligation to issue any Letters of Credit (including the Letters of Credit issued by Administrative Agent and outstanding on the Closing Date), is further subject to and contingent upon the fulfillment of each of the following conditions: (a) (i) in the case of a Borrowing, receipt by Administrative Agent of a Notice of Borrowing as required by Section 2.4(b) and written disbursement instructions to Administrative Agent consistent with Section 7.1, and (ii) in the case of a Letter of Credit, receipt by Issuing Lender of a Letter of Credit Application and the other papers and information required under Section 3.2; (b) the fact that, immediately before and after such Borrowing or issuance of Letter of Credit, as the case may be, no Event of Default or Unmatured Event of Default shall have occurred or be continuing; and (c) the fact that the representations and warranties of Borrower contained in this Agreement shall be true in all material respects on and as of the date (except to the extent that such representations and warranties relate solely to an earlier date) of such Borrowing, or issuance of Letter of Credit, as the case may be.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Motorcar Parts America Inc)

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Conditions to All Loans and Letters of Credit. Each Lender’s obligation hereunder to make any Loans to Borrower Borrowers (including the initial Loans), and the Issuing Lender’s obligation to issue any Letters of Credit (including the Letters initial Letter of Credit issued by Administrative Agent and outstanding on the Closing DateCredit), is further subject to and contingent upon the fulfillment of each of the following conditionsconditions to the satisfaction of Agent: (a) (i) in the case of a Borrowing, receipt by Administrative Agent of a Notice of Borrowing as required by Section 2.4(b2.5(b) and written disbursement instructions to Administrative Agent consistent with Section 7.1, and (ii) in the case of a Letter of Credit, receipt by Issuing Lender Agent of a Letter of Credit Application and the other papers and information required under Section 3.2; (b) the fact that, immediately before and after such Borrowing or issuance of Letter of Credit, as the case may be, no Event of Default or Unmatured Event of Default shall have occurred or be continuing; and (c) the fact that the representations and warranties of Borrower Borrowers contained in this Agreement Agree­ment shall be true in all material respects on and as of the date (except to the extent that such representations and warranties relate solely to an earlier date) of such Borrowing, or issuance of Letter of Credit, as the case may bebe (except for any representations and warranties made as of a specific earlier date, which shall remain true as of such date).

Appears in 1 contract

Samples: Revolving Credit Agreement (National Technical Systems Inc /Ca/)

Conditions to All Loans and Letters of Credit. Each LenderBank’s obligation hereunder to make any Loans to Borrower Borrowers (including the initial Loans), and the Issuing LenderBank’s obligation to issue any Letters of Credit (including the Letters initial Letter of Credit issued by Administrative Agent and outstanding on the Closing DateCredit), is further subject to and contingent upon the fulfillment of each of the following conditionsconditions to the satisfaction of Bank: (a) (i) in the case of a Borrowing, receipt by Administrative Agent Bank of a Notice of Borrowing as required by Section 2.4(b2.5(b) and and, in the case of the initial Loans, written disbursement instructions to Administrative Agent Bank consistent with Section 7.1, and (ii) in the case of a Letter of Credit, receipt by Issuing Lender Bank of a Letter of Credit Application and the other papers and information required under Section 3.2; (b) the fact that, immediately before and after such Borrowing or issuance of Letter of Credit, as the case may be, no Event of Default or Unmatured Event of Default shall have occurred or be continuing; and (c) the fact that the representations and warranties of Borrower Loan Parties contained in this Agreement and the Loan Documents shall be true and correct in all material respects on and as of the date (except to the extent that such representations and warranties relate solely to an earlier date) of such Borrowing, or issuance of Letter of Credit, as the case may be, except to the extent that any such representation or warranty expressly relates to an earlier date.

Appears in 1 contract

Samples: Credit Agreement (Jakks Pacific Inc)

Conditions to All Loans and Letters of Credit. Each LenderBank’s obligation hereunder to make any Loans to Borrower Borrowers (including the initial Loans), and the Issuing Lender’s obligation and/or to issue any Letters of Credit (including the Letters initial Letter(s) of Credit issued by Administrative Agent and outstanding on the Closing DateCredit), is further subject to and contingent upon the fulfillment of each of the following conditionsconditions to the satisfaction of Bank: (a) (i) in the case of a Borrowing, receipt by Administrative Agent Bank of a Notice of Borrowing Request for Advance as required by Section 2.4(b2.5(b) and written disbursement instructions to Administrative Agent Bank consistent with Section 7.1, and (ii) in the case of a Letter of Credit, receipt by Issuing Lender Bank of a Letter of Credit Application and the other papers and information required under Section 3.2; (b) the fact that, immediately before and after such Borrowing or issuance of Letter of Credit, as the case may be, no Event of Default or Unmatured Event of Default shall have occurred or be continuing; and (c) the fact that the representations and warranties of Borrower Borrowers contained in this Agreement Agree­ment shall be true in all material respects on and as of the date (except to the extent that such representations and warranties relate solely to an earlier date) of such Borrowing, or issuance of Letter of Credit, as the case may bebe (except for any representations and warranties made as of a specific earlier date, which shall remain true as of such date).

Appears in 1 contract

Samples: Credit Agreement (Deckers Outdoor Corp)

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Conditions to All Loans and Letters of Credit. Each Lender’s 's obligation hereunder to make any Loans to Borrower Borrowers (including the initial Loans), and the Issuing Lender’s 's obligation to issue any Letters of Credit (including the Letters initial Letter of Credit issued by Administrative Agent and outstanding on the Closing DateCredit), is further subject to and contingent upon the fulfillment of each of the following conditionsconditions to the satisfaction of Agent: (a) (i) in the case of a Borrowing, receipt by Administrative Agent of a Notice of Borrowing as required by Section 2.4(b2.5(b) and written disbursement instructions to Administrative Agent consistent with Section 7.1, and (ii) in the case of a Letter of Credit, receipt by Issuing Lender Agent of a Letter of Credit Application and the other papers and information required under Section 3.2; (b) the fact that, immediately before and after such Borrowing or issuance of Letter of Credit, as the case may be, no Event of Default or Unmatured Event of Default shall have occurred or be continuing; and (c) the fact that the representations and warranties of Borrower Borrowers contained in this Agreement shall be true in all material respects on and as of the date (except to the extent that such representations and warranties relate solely to an earlier date) of such Borrowing, or issuance of Letter of Credit, as the case may bebe (except for any representations and warranties made as of a specific earlier date, which shall remain true as of such date).

Appears in 1 contract

Samples: Revolving Credit Agreement (National Technical Systems Inc /Ca/)

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