Common use of Conditions to Each Revolving Loan Clause in Contracts

Conditions to Each Revolving Loan. (a) Except as otherwise expressly provided herein, no Lender shall be obligated to fund any Advance or incur any Letter of Credit Obligation if, as of the date thereof: (i) any representation or warranty by any Loan Party contained herein or in any of the other Loan Documents shall be untrue or incorrect in any material respect (or untrue or incorrect in any respect if such representation or warranty contains any materiality qualifier, including references to “material”, “Material Adverse Effect” or dollar thresholds) as of such date (or, in lieu thereof, as of a specific earlier date if such representation or warranty expressly relates to an earlier date and except for changes therein expressly permitted or expressly contemplated by this Agreement) and in such case the Administrative Agent or the Requisite Revolving Lenders shall have determined not to make (or permit to be made) any such Advance or incur (or permit to be incurred) any Letter of Credit Obligation so long as such representation or warranty remains untrue or incorrect; or (ii) (x) any Event of Default shall have occurred and be continuing or would result immediately after giving effect to any Advance (or the incurrence of any Letter of Credit Obligation) or (y) a Default shall have occurred and be continuing or would result immediately after giving effect to any Advance or incurrence of any Letter of Credit Obligation, and in either such case the Administrative Agent or the Requisite Revolving Lenders shall have determined not to make (or permit to be made) any Advance or incur (or permit to be incurred) any Letter of Credit Obligation so long as such Event of Default or Default is continuing; or (iii) to the extent such request is for an Advance or the incurrence of any Letter of Credit Obligation, the amount of such requested Advance or incurrence of a Letter of Credit Obligation shall cause the aggregate principal amount of outstanding Advances to exceed the Borrowing Availability under Section 2.1(a) and in such case the Administrative Agent or the Requisite Revolving Lenders shall have determined not to make (or permit to be made) any Advance or incur (or permit to be incurred) any Letter of Credit Obligation so long as the Borrowing Availability is exceeded; or (iv) the Administrative Agent shall not have received a Notice of Advance in accordance with Section 2.1(a) or a L/C Application in accordance with Section 2.2(e), as applicable. (b) The receipt by Xxxxxxxx of the proceeds of any requested Revolving Loan or Letter of Credit Obligation, as the case may be, shall be deemed to constitute, as of the date of such incurrence, a representation and warranty by the Borrower that the conditions in this Section 3.2 have been satisfied, to the extent applicable.

Conditions to Each Revolving Loan. (a) Except as otherwise expressly provided herein, no Lender shall be obligated to fund any Advance or incur any Letter of Credit Obligation if, as of the date thereof: (i) any representation or warranty by any Loan Party contained herein or in any of the other Loan Documents shall be untrue or incorrect in any material respect (or untrue or incorrect in any respect if such representation or warranty contains any materiality qualifier, including references to “material”, “Material Adverse Effect” or dollar thresholds) as of such date (or, in lieu thereof, as of a specific earlier date if such representation or warranty expressly relates to an earlier date and except for changes therein expressly permitted or expressly contemplated by this Agreement) and in such case the Administrative Agent or the Requisite Revolving Lenders shall have determined not to make (or permit to be made) any such Advance or incur (or permit to be incurred) any Letter of Credit Obligation so long as such representation or warranty remains untrue or incorrect; or (ii) (x) any Event of Default shall have occurred and be continuing or would result immediately after giving effect to any Advance (or the incurrence of any Letter of Credit Obligation) or (y) a Default shall have occurred and be continuing or would result immediately after giving effect to any Advance or incurrence of any Letter of Credit Obligation, and in either such case the Administrative Agent or the Requisite Revolving Lenders shall have determined not to make (or permit to be made) any Advance or incur (or permit to be incurred) any Letter of Credit Obligation so long as such Event of Default or Default is continuing; or (iii) to the extent such request is for an Advance or the incurrence of any Letter of Credit Obligation, the amount of such requested Advance or incurrence of a Letter of Credit Obligation shall cause the aggregate principal amount of outstanding Advances to exceed the Borrowing Availability under Section 2.1(a) and in such case the Administrative Agent or the Requisite Revolving Lenders shall have determined not to make (or permit to be made) any Advance or incur (or permit to be incurred) any Letter of Credit Obligation so long as the Borrowing Availability is exceeded; or (iv) the Administrative Agent shall not have received a Notice of Advance in accordance with Section 2.1(a) or a L/C Application in accordance with Section 2.2(e), as applicable. (b) The receipt by Xxxxxxxx Borrower of the proceeds of any requested Revolving Loan or Letter of Credit Obligation, as the case may be, shall be deemed to constitute, as of the date of such incurrence, a representation and warranty by the Borrower that the conditions in this Section 3.2 have been satisfied, to the extent applicable.