Conditions to All Loans, Letters of Credit Sample Clauses

Conditions to All Loans, Letters of Credit. (a) The obligation of each Bank to make each Loan and the obligation of Fleet to issue any Letter of Credit shall be subject to the fulfillment (to the satisfaction of the Banks) of the following conditions precedent: (i) The Agent shall have received a Borrowing Notice in accordance with Section 2.2 hereof. (ii) The Agent shall have received (A) a certificate dated the date of such Loan or Letter of Credit and effective as of such date, executed by the chief financial officer of NPDC on behalf of the Borrowers, certifying that (1) no Default or Event of Default under this Agreement exists or would exist after giving effect to the proposed Loan or Letter of Credit, including, without limitation, that the covenants set forth in Section 6.9 hereof would not be breached after giving effect to such proposed Loan or Letter of Credit, and (2) the representations and warranties contained in Article 3 hereof, in the other Loan Documents and in any document or instrument delivered pursuant to or in connection with this Agreement are true and with the same effect as though such representations and warranties were made on the date of such certificate (except to the extent of changes resulting from transactions contemplated or permitted by this Agreement and the other Loan Documents and other changes, as to all such changes that singly or in the aggregate do not have a Materially Adverse Effect, and except to the extent that such representations and warranties relate expressly to an earlier date) and (B) a certificate as to the Borrowing Base in the form required by Section 5.10 hereof, except such certificate shall be dated the date of such Loan or Letter of Credit but may include Eligible Receivables as of the end of the most recent month, and the matters certified therein shall be true as of such date. Notwithstanding the foregoing provisions of this Section 4.2(a)(ii)(2), with respect to any certificate delivered pursuant to Section 4.2(a)(ii), the references to Loan Party in the representations and warranties contained in Article 3 hereof shall be deemed to exclude Five Star. (iii) All legal matters incident to such Loan or Letter of Credit shall be satisfactory to counsel for the Agent and counsel to each Bank. (b) In the event that a certificate referred to in Section 4.2(a)(ii)(A) shall not be received prior to making any Loan or issuing any Letter of Credit, a Borrower's request for such Loan or Letter of Credit shall be deemed to be a representation and warr...
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Conditions to All Loans, Letters of Credit. The obligations of the Agent and each Lender to make Loans or the obligation of the Agent to issue the Letters of Credit on each Funding Date are subject to the further conditions precedent set forth below.
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Conditions to All Loans, Letters of Credit. The Lenders' obligations to make any Loan, including the Initial Loans and all subsequent Loans, and Nations Bank's obligation to issue any Letter of Credit shall be subject to satisfaction of the following additional conditions: (a) all of the representations and warranties made or deemed to be made under this Agreement shall be true and correct at such time in all material respects, both with and without giving effect to the Loans to be made at such time and the application of the proceeds thereof or the issuance of such Letter of Credit, and (b) the corporate actions I ,f the Borrower referred to in Section 5.1(a)
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Conditions to All Loans, Letters of Credit. The Lenders’ obligations to make any Loan, and Bank of America’s obligation to issue any Letter of Credit shall be subject to satisfaction of the following additional conditions: (a) all of the representations and warranties made or deemed to be made under this Agreement shall be true and correct at such time in all material respects, both with and without giving effect to the Loans to be made at such time and the application of the proceeds thereof or the issuance of such Letter of Credit, and (b) the corporate actions of the Borrower referred to in Section 5.1(a)(4) shall remain in full force and effect and the incumbency of officers shall be as stated in the certificates of incumbency delivered pursuant to Section 5.1(a)(5) or as subsequently modified and reflected in a certificate of incumbency delivered to the Administrative Agent. Each request or deemed request for any borrowing hereunder shall be deemed to be a certification by the Borrower to the Administrative Agent and the Lenders as to the matters set forth in Section 5.2(a) and (b) and the Administrative Agent may, without waiving either condition, consider the conditions specified in Sections 5.2(a) and (b) fulfilled and a representation by the Borrower to such effect made, if no written notice to the contrary is received by the Administrative Agent prior to the making of the Loan then to be made.
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Related to Conditions to All Loans, Letters of Credit

  • Conditions to All Loans and Letters of Credit The obligations of the Lenders to make any Loan or issue any Letter of Credit is subject to the satisfaction of the following conditions precedent on the relevant borrowing or issue date, as applicable:

  • CONDITIONS TO LOANS AND LETTERS OF CREDIT The obligations of Lenders to make Loans and the issuance of Letters of Credit hereunder are subject to the satisfaction of the following conditions.

  • Conditions to Letters of Credit The issuance of any Letter of Credit hereunder (whether or not the applicable Issuing Lender is obligated to issue such Letter of Credit) is subject to the following conditions precedent: A. On or before the date of issuance of the initial Letter of Credit pursuant to this Agreement, the initial Loans shall have been made. B. On or before the date of issuance of such Letter of Credit, Administrative Agent shall have received, in accordance with the provisions of subsection 3.1B(i), an originally executed Notice of Issuance of Letter of Credit, in each case signed by the chief executive officer, the chief financial officer or the treasurer of Company or by any executive officer of Company designated by any of the above-described officers on behalf of Company in a writing delivered to Administrative Agent, together with all other information specified in subsection 3.1B(i) and such other documents or information as the applicable Issuing Lender may reasonably require in connection with the issuance of such Letter of Credit. C. On the date of issuance of such Letter of Credit, all conditions precedent described in subsection 4.2B shall be satisfied to the same extent as if the issuance of such Letter of Credit were the making of a Loan and the date of issuance of such Letter of Credit were a Funding Date.

  • Conditions Precedent to All Loans and Letters of Credit In addition to satisfaction or waiver of the conditions precedent contained in Section 6.1, the obligations of (i) Lenders to make any Loans and (ii) the Issuing Bank to issue Letters of Credit are each subject to the further conditions precedent that: (a) no Default or Event of Default shall exist as of the date of the making of such Loan or date of issuance of such Letter of Credit or would exist immediately after giving effect thereto, and no violation of the limits described in Section 2.16 would occur after giving effect thereto; (b) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which any of them is a party, shall be true and correct in all material respects (except in the case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true and correct in all respects) on and as of the date of the making of such Loan or date of issuance of such Letter of Credit with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (except in the case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true and correct in all respects) on and as of such earlier date) and except for changes in factual circumstances specifically and expressly permitted hereunder; (c) in the case of the borrowing of Revolving Loans, the Administrative Agent shall have received a timely Notice of Borrowing, in the case of a Swingline Loan, the Swingline Lender shall have received a timely Notice of Swingline Borrowing (or other notice as permitted pursuant to Section 2.5(b)(i) for requesting a Swingline Loan or the borrowing shall be an Automatic Swingline Borrowing pursuant to Section 2.5(b)(ii)), and in the case of the issuance of a Letter of Credit the Issuing Bank and the Administrative Agent shall have received a timely request for the issuance of such Letter of Credit; and (d) that any such borrowing is permitted under any Senior Notes Indebtedness and/or any Senior Notes Indenture relating thereto. Each Credit Event shall constitute a certification by the Borrower to the effect set forth in the preceding sentence (both as of the date of the giving of notice relating to such Credit Event and, unless the Borrower otherwise notifies the Administrative Agent prior to the date of such Credit Event, as of the date of the occurrence of such Credit Event). In addition, the Borrower shall be deemed to have represented to the Administrative Agent and the Lenders at the time any Loan is made or any Letter of Credit is issued that all conditions to the making of such Loan or issuing of such Letter of Credit contained in this Article VI have been satisfied. Unless set forth in writing to the contrary, the making of its initial Loan by a Lender shall constitute a certification by such Lender to the Borrower and to the Administrative Agent, for the benefit of the Administrative Agent and the Lenders, that the conditions precedent for initial Loans set forth in Sections 6.1 and 6.2 that have not previously been waived by the Lenders in accordance with the terms of this Agreement have been satisfied.

  • Conditions Precedent to Loans and Letters of Credit 32 Section 3.1 Conditions To Effectiveness.................................................32 Section 3.2 Each Credit Event...........................................................33 Section 3.3 Delivery of Documents.......................................................34

  • Conditions Precedent to Initial Loans and Letters of Credit The obligation of each Lender to make the Loans requested to be made by it on the Closing Date and the obligation of each Issuer to Issue Letters of Credit on the Closing Date is subject to the satisfaction or due waiver in accordance with Section 11.1 (

  • Additional Conditions to Letters of Credit If the issuance of a Letter of Credit is requested, all conditions set forth in Section 2.3 shall have been satisfied.

  • New Letters of Credit So long as any Lender is a Defaulting Lender, no Issuing Bank shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Conditions to All Extensions of Credit The obligation of each Lender to make any Extension of Credit hereunder is subject to the satisfaction of the following conditions precedent on the date of making such Extension of Credit:

  • First Loans and Letters of Credit On the Closing Date:

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