Common use of Conditions to Each Credit Extension Clause in Contracts

Conditions to Each Credit Extension. The obligation of each Lender to make any Loan, or Issuing Bank to issue any Letter of Credit, on any Credit Date, including (other than with respect to clauses (c) and (d) below) on the Restatement Effective Date, are subject to the satisfaction, or waiver in accordance with Section 10.5, of the following conditions precedent: (a) Administrative Agent shall have received a Borrowing Request in accordance with Section 2.3; (b) after making the Credit Extensions requested on such Credit Date, Excess Availability is not less than zero; (c) as of such Credit Date, the representations and warranties contained herein and in the other Credit Documents shall be true and correct in all material respects on and as of that Credit Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; (d) as of such Credit Date, no event shall have occurred and be continuing or would result from the consummation of the applicable Credit Extension that would constitute an Event of Default or a Default; and (e) on or before the date of issuance of any Letter of Credit, Administrative Agent shall have received all other information required pursuant to Section 2.6, and such other documents or information as Issuing Bank may reasonably require in connection with the issuance of such Letter of Credit.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Douglas Dynamics, Inc), Credit and Guaranty Agreement (Douglas Dynamics, Inc)

AutoNDA by SimpleDocs

Conditions to Each Credit Extension. The obligation of each Lender to make fund its Term Loan Commitment Percentage or Revolving Commitment Percentage of any Loan, or Issuing Bank to issue any Letter of Credit, Credit Extension on any Credit Date, including (other than with respect to clauses (c) the Second Amendment Effective Date and (d) below) on the Restatement Sixth Amendment Effective Date, are subject to the satisfaction, or waiver in accordance with Section 10.511.4, of the following conditions precedent: (a) the Administrative Agent shall have received a Borrowing Request in accordance fully executed and delivered Funding Notice, together with Section 2.3the documentation and certifications required therein with respect to each Credit Extension; (b) after making the Credit Extensions Extension requested on such Credit Date, Excess Availability is the (i) aggregate outstanding principal amount of the Revolving Loans shall not less than zeroexceed the aggregate Revolving Commitments then in effect and (ii) the aggregate outstanding principal amount of the Term Loans shall not exceed the respective Term Loan Commitments then in effect; (c) as of such Credit Date, the representations and warranties contained herein and in the other Credit Documents shall be true and correct in all material respects on and as of that Credit Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date;; and (d) as of such Credit Date, no event shall have occurred and be continuing or would result from the consummation of the applicable Credit Extension that would constitute an Event of Default or a Default; and (e) on or before the date of issuance of any Letter of Credit, Administrative Agent shall have received all other information required pursuant to Section 2.6, and such other documents or information as Issuing Bank may reasonably require in connection with the issuance of such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Ebix Inc)

Conditions to Each Credit Extension. The obligation of each Lender to make any Loan, or Issuing Bank to issue any Letter of Credit, on any Credit Date, including (other than with respect to clauses (c) and (d) below) on the Restatement Effective Date, are subject to the satisfaction, or waiver in accordance with Section 10.511.05, of the following conditions precedent: (a) Administrative Agent shall have received a Borrowing Request in accordance with Section 2.3fully executed and delivered Funding Notice or Issuance Notice, as the case may be; (b) after making the Credit Extensions requested on such Credit Date, Excess Availability is the Total Utilization of Revolving Commitments shall not less than zeroexceed the Revolving Commitments then in effect; (c) as of such Credit DateDate and after giving effect to such Credit Extension and the use of proceeds thereof, the representations and warranties contained herein and in the other Credit Documents shall be true and correct in all material respects on and as of that Credit Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; (d) as of such Credit Date, no event shall have occurred and be continuing or would result from the consummation of the applicable Credit Extension that would constitute an Event of Default or a Default; and (e) on or before the date of issuance of any Letter of Credit, Administrative Agent shall have received all other information required pursuant to Section 2.6, and such other documents or information as Issuing Bank may reasonably require in connection with by the issuance of such Letter of Creditapplicable Issuance Notice.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Digitalglobe, Inc.)

Conditions to Each Credit Extension. The obligation of each Lender to make any Loan, or Issuing Bank to issue any Letter of Credit, on any Credit Date, including (other than with respect to clauses (c) and (d) below) on the Restatement Effective Closing Date, are subject to the satisfaction, or waiver in accordance with Section 10.511.05, of the following conditions precedent: (ai) Administrative Agent shall have received a Borrowing Request in accordance with Section 2.3fully executed and delivered Funding Notice or Issuance Notice, as the case may be; (bii) after making the Credit Extensions requested on such Credit Date, Excess Availability is the Total Utilization of Revolving Commitments shall not less than zeroexceed the Revolving Commitments then in effect; (ciii) as of such Credit Date, the representations and warranties contained herein and in the other Credit Documents shall be true and correct in all material respects on and as of that Credit Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; (div) as of such Credit Date, no event shall have occurred and be continuing or would result from the consummation of the applicable Credit Extension that would constitute an Event of Default or a Default; and (ev) on or before the date of issuance of any Letter of Credit, Administrative Agent shall have received all other information required pursuant to Section 2.6, and such other documents or information as Issuing Bank may reasonably require in connection with by the issuance of such Letter of Creditapplicable Issuance Notice.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Digitalglobe, Inc.)

Conditions to Each Credit Extension. The obligation of each Lender to make any Loan, or Issuing Bank to issue any Letter of Credit, on any Credit Date, including (other than with respect to clauses (c) and (d) below) on the Restatement Effective Closing Date, are subject to the satisfaction, or waiver in accordance with Section 10.5, of the following conditions precedent: (a) Administrative Agent shall have received a Borrowing Request in accordance with Section 2.3; (b) after making the Credit Extensions requested on such Credit Date, Excess Availability is not less than zero; (c) as of such Credit Date, the representations and warranties contained herein and in the other Credit Documents shall be true and correct in all material respects on and as of that Credit Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; (d) as of such Credit Date, no event shall have occurred and be continuing or would result from the consummation of the applicable Credit Extension that would constitute an Event of Default or a Default; and (e) on or before the date of issuance of any Letter of Credit, Administrative Agent shall have received all other information required pursuant to Section 2.6, and such other documents or information as Issuing Bank may reasonably require in connection with the issuance of such Letter of Credit.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Douglas Dynamics, Inc)

AutoNDA by SimpleDocs

Conditions to Each Credit Extension. The obligation of each Lender to make any Loan, or Issuing Bank to issue any Letter of Credit, on any Credit Date, including (other than with respect to clauses (c) and (d) below) on the Restatement Effective Closing Date, are subject to the satisfaction, or waiver in accordance with Section 10.511.05, of the following conditions precedent: (ai) Administrative Agent shall have received a Borrowing Request in accordance with Section 2.3fully executed and delivered Funding Notice or Issuance Notice, as the case may be; (bii) after making the Credit Extensions requested on such Credit Date, Excess Availability is the Total Utilization of Revolving Commitments shall not less than zeroexceed the Revolving Commitments then in effect; (ciii) as of such Credit Date, the representations and warranties contained herein and in the other Credit Documents shall be true and correct in all material respects on and as of that Credit Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; (div) as of such Credit Date, no event shall have occurred and be continuing or would result from the consummation of the applicable Credit Extension that would constitute an Event of Default or a Default; and (ev) on or before the date of issuance of any Letter of Credit, Administrative Agent shall have received all other information required pursuant to Section 2.6, and such other documents or information as Issuing Bank may reasonably require in connection with by the issuance of such Letter of Creditapplicable Issuance Notice.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Digitalglobe Inc)

Conditions to Each Credit Extension. The obligation of each Lender to make any Loan, or Issuing Bank to issue any Letter of Credit, on any Credit Date, including (other than with respect to clauses (c) and (d) below) on the Restatement Effective Date, are subject to the satisfaction, or waiver in accordance with Section 10.5, of the following conditions precedent: (ai) Administrative Agent shall have received a Borrowing Request in accordance with Section 2.3fully executed and delivered Funding Notice or Issuance Notice, as the case may be, for each requested Credit Extension, including each Swing Line Loan; (bii) after making the Credit Extensions requested on such Credit Date, Excess Availability is the Total Utilization of Revolving Commitments shall not less than zeroexceed the Revolving Commitments then in effect; (ciii) as of such Credit Date, the representations and warranties contained herein and in the other Credit Documents shall be true and correct in all material respects on and as of that Credit Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; (div) as of such Credit Date, no event shall have occurred and be continuing or would result from the consummation of the applicable Credit Extension that would constitute a Default or an Event of Default or a Default; and (ev) on or before the date of issuance of any Letter of Credit, Administrative Agent shall have received all other information required pursuant to Section 2.6by the applicable Issuance Notice, and such other documents or information as Issuing Bank may reasonably require in connection with the issuance of such Letter of Credit.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!