Common use of Conditions to Each Credit Event Clause in Contracts

Conditions to Each Credit Event. The agreement of each Lender to make any Loan, or each LC Facility Lender to make its LC Facility Deposit or of the Issuing Bank or the LC Facility Issuing Bank to issue, increase, renew or extend any Letter of Credit (such event being called a “Credit Event”) requested to be made by it on any date is subject to the satisfaction of the following conditions (it being understood that a continuation or conversion of any Loans pursuant to Section 2.03 shall not be deemed a Credit Event): (a) The Administrative Agent shall have received a notice of such Credit Event as required by Section 2.02 or 2.06, as applicable. (b) The representations and warranties set forth in Article III hereof and in the other Loan Documents shall be true and correct in all material respects with the same effect as if then made (unless expressly stated to relate to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date); provided, that that any representation and warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects. (c) At the time of and immediately after giving effect to such Credit Event, no Default shall have occurred and be continuing. Each Credit Event shall be deemed to constitute a representation and warranty by Borrower on the date of such Credit Event, as to the matters specified in Sections 4.02(b) and (c).

Appears in 2 contracts

Samples: Credit Agreement (Rural Metro Corp /De/), Credit Agreement (Rural Metro Corp /De/)

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Conditions to Each Credit Event. The agreement of each Lender to make any Loan, or each LC Facility Lender to make its LC Facility Deposit Loan or of the Issuing Bank or the LC Facility Issuing Bank to issue, increase, renew or extend any Letter of Credit Credit, including, without limitation, in connection with any Incremental Facility (such event being called a “Credit Event”) requested to be made by it on any date is subject to the satisfaction of the following conditions (it being understood that a continuation or conversion of any Loans pursuant to Section 2.03 shall not be deemed a Credit Event): (a) The Administrative Agent shall have received a notice of such Credit Event as required by Section 2.02 or 2.06, as applicable. (b) The representations and warranties set forth in Article III hereof and in the other Loan Documents shall be true and correct in all material respects (or, as to any representations and warranties that are otherwise qualified as to materiality or “Material Adverse Effect” , as so qualified) with the same effect as if then made (unless expressly stated to relate to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date); provided, that that any representation and warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects. (c) At the time of and immediately after giving effect to such Credit Event, no Default shall have occurred and be continuing. Each Credit Event shall be deemed to constitute a representation and warranty by Borrower on the date of such Credit Event, as to the matters specified in Sections 4.02(b) and (c).

Appears in 1 contract

Samples: Credit Agreement (Rural/Metro Corp /De/)

Conditions to Each Credit Event. The agreement of each Lender to make any Loan, or each LC Facility Lender to make its LC Facility Deposit or Loan and of the Issuing Bank or the LC Facility Issuing Bank to issue, increaseamend, renew or extend any Letter of Credit (such event being called a “Credit Event”) (excluding continuations and conversions of Loans) requested to be made by it on any date is subject to the satisfaction of the following conditions (it being understood that a continuation or conversion of any Loans pursuant to Section 2.03 shall not be deemed a Credit Event):conditions: (a) The Administrative Agent shall have received a notice of such Credit Event as required by Section 2.02 2.02, 2.04 or 2.06, as applicableapplicable (or such notice shall have been deemed given in accordance with Section 2.04(b)). (b) The representations and warranties set forth in Article III hereof and in the other Loan Documents shall be true and correct in all material respects with the same effect as if then made (unless expressly stated to relate to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date); provided, that that any representation and warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects. (c) At the time of and immediately after giving effect to such Credit Event, no Default or Event of Default shall have occurred and be continuing. (d) Since June 30, 2003, except as specifically set forth in the Information Memorandum, no event shall have occurred that has had, or could reasonably be expected to have, a Material Adverse Effect. Each Credit Event shall be deemed to constitute a representation and warranty by the Borrower on the date of such Credit Event, as to the matters specified in Sections 4.02(bparagraphs (b), (c) and (c)d) of this Section 4.02.

Appears in 1 contract

Samples: Credit Agreement (Constar International Inc)

Conditions to Each Credit Event. The agreement several obligation of each Lender to make a Loan on the occasion of any LoanBorrowing (including any Borrowing made on the Effective Date), or each LC Facility Lender to make its LC Facility Deposit or and of the Issuing Bank or the LC Facility Issuing Bank to issue, increaseamend, renew or extend any Letter of Credit (such event being called each a “Credit Event”) requested to be made by it on any date ), is subject to the satisfaction of the following conditions (it being understood that a continuation or conversion of any Loans pursuant to Section 2.03 shall not be deemed a Credit Event):conditions: (a) The Administrative Agent shall have received a notice of such Credit Event as required by Section 2.02 or 2.06, as applicable. (b) The representations and warranties of the Borrower set forth in Article III hereof and in the other Loan Documents of this Agreement shall be true and correct in all material respects with (except that to the same effect extent any such representation or warranty is qualified by materiality or Material Adverse Effect, such representation or warranty shall be true and correct in all respects) on and as if then made (unless of the date of such Credit Event, as applicable, except to the extent expressly stated to relate referring only to an earlier date, in which case such representations and warranties shall be have been true and correct in all material respects as of such earlier date); provided, that that any representation and warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects. (cb) At the time of and immediately after giving effect to such Credit Event, no Default shall have occurred and be continuing. Each Credit Event shall be deemed to constitute a representation and warranty by the Borrower on the date of such Credit Event, thereof as to the matters specified in Sections 4.02(bparagraphs (a) and (c)b) of this Section 4.02.

Appears in 1 contract

Samples: Credit Agreement (Medco Health Solutions Inc)

Conditions to Each Credit Event. The agreement of each Lender to make any Loan, or Loan and of each LC Facility Lender to make its LC Facility Deposit or of the Issuing Bank or the LC Facility Issuing Bank to issue, increaseamend, renew or extend any Letter of Credit (such event being called a "Credit Event") (excluding continuations and conversions of Loans) requested to be made by it on any date is subject to the satisfaction or waiver of the following conditions (it being understood that a continuation or conversion of any Loans pursuant to Section 2.03 shall not be deemed a Credit Event):conditions: (a) The Administrative Applicable Agent shall have received a notice of such Credit Event as required by Section 2.02 or 2.06, as applicable. (b) The representations and warranties set forth in Article III hereof and in the other Loan Documents shall be true and correct in all material respects (except that any representation and warranty that is qualified as to "materiality" or "Material Adverse Effect" shall be true and correct in all respects) with the same effect as if then made (unless expressly stated to relate to an earlier date, in which case such representations and warranties shall be true and correct (or true and correct in all material respects respects, as the case may be) as of such earlier date); provided, that that any representation and warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects. (c) At the time of and immediately after giving effect to such Credit Event, no Default or Event of Default shall have occurred and be continuing. Each Credit Event shall be deemed to constitute a representation and warranty by the applicable Borrower on the date of such Credit Event, as to the matters specified in Sections 4.02(bparagraphs (b) and (c)) of this Section 4.02.

Appears in 1 contract

Samples: Credit Agreement (Samsonite Corp/Fl)

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Conditions to Each Credit Event. The agreement obligation of the Lenders, the Fronting Lender and the Swing Line Lender to participate in any Credit Event shall be conditioned, in the case of each Lender to make any Loan, or each LC Facility Lender to make its LC Facility Deposit or of the Issuing Bank or the LC Facility Issuing Bank to issue, increase, renew or extend any Letter of Credit (such event being called a “Credit Event”) requested to be made by it on any date is subject to , upon the satisfaction of the following conditions (it being understood that a continuation or conversion of any Loans pursuant to Section 2.03 shall not be deemed a Credit Event):following: (a) The Administrative Agent all conditions precedent as listed in Section 4.2 hereof required to be satisfied prior to the first Credit Event (and not waived in accordance with Section 10.3 hereof) shall have received a notice been satisfied (or waived) prior to or as of such the first Credit Event as required by Section 2.02 (provided that Borrower’s representation need not extend to whether or 2.06, as applicable.not documents are satisfactory to Agent); (b) The representations and warranties set forth in Article III hereof and in the other Borrower shall have submitted a Notice of Loan Documents shall be true and correct in all material respects (or with respect to a Letter of Credit, complied with the same effect as if then made (unless expressly stated to relate to an earlier date, in which case such representations provisions of Section 2.2(b)(ii) hereof) and warranties shall be true and correct in all material respects as of such earlier date); provided, that that any representation and warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects.otherwise complied with Section 2.6 hereof; (c) At the time no Default or Event of Default shall have occurred and be continuing or, immediately after giving effect to such Credit Event, no Default shall have occurred would occur and be continuing; and (d) each of the representations and warranties contained in Article VI hereof shall be true in all material respects as if made on and as of the date of such Credit Event (or, if any such representation or warranty is expressly stated to have been made as of a specific date, such representation or warranty shall be true in all material respects as of such specific date). Each request by Borrower for a Credit Event shall be deemed to constitute be a representation and warranty by Borrower on as of the date of such Credit Event, request as to the matters satisfaction of the conditions precedent specified in Sections 4.02(bsubsections (c) and (c)d) above.

Appears in 1 contract

Samples: Credit Agreement (Parametric Technology Corp)

Conditions to Each Credit Event. The agreement of each Lender (including any Person with a Term D Commitment) to make any Loan, or each LC Facility Lender Loan (including pursuant to make its LC Facility Deposit or a Term D Commitment on the Restatement Effective Date) and of the Issuing Bank or the LC Facility Issuing Bank to issue, increaseamend, renew or extend any Letter of Credit (such event being called a “Credit Event”) (excluding continuations and conversions of Loans) requested to be made by it on any date is subject to the satisfaction of the following conditions (it being understood that a continuation or conversion of any Loans pursuant to Section 2.03 shall not be deemed a Credit Event):conditions: (a) The Administrative Agent shall have received a notice of such Credit Event as required by Section 2.02 2.02, 2.04 or 2.06, as applicable.. Table of Contents (b) The representations and warranties made by each Loan Party set forth in Article III hereof and in the other Loan Documents shall be true and correct in all material respects with the same effect as if then made (unless expressly stated to relate to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date); provided, that that any representation and warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects. (c) At the time of and immediately after giving effect to such Credit Event, no Default shall have occurred and be continuing. Each Credit Event shall be deemed to constitute a representation and warranty by the applicable Borrower on the date of such Credit Event, as to the matters specified in Sections 4.02(bparagraphs (b) and (c)) of this Section 4.02.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Communications Illinois Holdings, Inc.)

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