Common use of Conditions to Effectiveness of Extension Clause in Contracts

Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.25 shall not be effective with respect to any Lender unless: (i) no Default shall have occurred and be continuing on the applicable Extension Date and immediately after giving effect thereto; (ii) all representations and warranties of the Company contained in Article IV of this Agreement (other than the representation and warranty of the Company contained in Section 4.04(b) hereof) shall be true (except that for purposes of this Section 2.25(f), the representations and warranties contained in Section 4.04(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 5.01(a)) on and as of the applicable Extension Date and after giving effect thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (iii) no default or event of default under any project engineering, procurement, construction, maintenance and related activities and/or contracts of the Company or any of its Subsidiaries shall have occurred and be continuing on and as of the applicable Extension Date and after giving effect thereto which could reasonably be expected to materially and adversely affect the ability of any Borrower to perform its obligations under the Loan Documents; and (iv) the Administrative Agent shall have received a certificate from the Company signed by a senior vice president, the chief financial officer or the treasurer of the Company (A) certifying the accuracy of the foregoing clauses (i), (ii) and (iii) and (B) certifying and attaching the resolutions adopted by each Borrower approving or consenting to such extension.

Appears in 2 contracts

Samples: Revolving Loan and Letter of Credit Facility Agreement (Fluor Corp), Revolving Loan and Letter of Credit Facility Agreement (Fluor Corp)

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Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Revolving Credit Maturity Date and no more than two (2) extensions of the Term Loan Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.25 2.24 shall not be effective with respect to any Extending Lender and each Additional Commitment Lender unless: (i) the Company, the Administrative Agent, each Extending Lender and each Additional Commitment Lender (if any) shall have entered into a letter agreement confirming the applicable extension (the date of such letter agreement, the “Confirmation Date”); (ii) no Default or Event of Default shall have occurred and be continuing on the applicable Extension Confirmation Date and immediately after giving effect thereto; (iiiii) all the representations and warranties of the Company contained set forth in Article IV of this Agreement (other than the representation and warranty of the Company contained in Section 4.04(b) hereof) shall be true (except that for purposes of this Section 2.25(f), excluding the representations and warranties contained set forth in Section 4.04(aSections 3.04(b) shall be deemed to refer to and 3.06(a)) are true and correct in all material respects (or, in the most recent statements furnished pursuant to Section 5.01(a)case of any such representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the applicable Extension Confirmation Date and after giving effect (including pro forma effect) thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (iii) no default or event of default under any project engineering, procurement, construction, maintenance and related activities and/or contracts of the Company or any of its Subsidiaries shall have occurred and be continuing on and as of the applicable Extension Date and after giving effect thereto which could reasonably be expected to materially and adversely affect the ability of any Borrower to perform its obligations under the Loan Documents; and (iv) the Administrative Agent shall have received a certificate from the Company signed by a senior vice president, the chief financial officer or the treasurer Financial Officer of the Company (A) certifying the accuracy of the foregoing clauses (i), (ii) and (iii) and (B) certifying and attaching the resolutions (if any are required) adopted by each Borrower approving or consenting to such extension.

Appears in 2 contracts

Samples: Credit Agreement (Brown & Brown Inc), Credit Agreement (Brown & Brown Inc)

Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.25 2.21 shall not be effective with respect to any Extending Lender unless: (i) no Default or Event of Default shall have occurred and be continuing on the applicable Extension Date and immediately after giving effect thereto; (ii) all the representations and warranties of the Company contained Borrowers set forth in Article IV of this Agreement (other than the representation and warranty of the Company contained in Section 4.04(b) hereof) shall be true (except that for purposes of this Section 2.25(f), excluding the representations and warranties contained set forth in Section 4.04(aSections 3.04(b) shall be deemed to refer to and 3.06(a)) are true and correct in all material respects (or, in the most recent statements furnished pursuant to Section 5.01(a)case of any representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the applicable Extension Date and after giving effect thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (iii) no default or event of default under any project engineering, procurement, construction, maintenance and related activities and/or contracts of the Company or any of its Subsidiaries shall have occurred and be continuing on and as of the applicable Extension Date and after giving effect thereto which could reasonably be expected to materially and adversely affect the ability of any Borrower to perform its obligations under the Loan Documents; and (iviii) the Administrative Agent shall have received a certificate from the Company signed by a senior vice president, the chief financial officer or the treasurer Responsible Officer of the Company Company, delivered on behalf of the Company, (A) certifying the accuracy of the foregoing clauses clause (i), (ii) and (iii) and (B) certifying and attaching the resolutions adopted by each Borrower approving or consenting to such extensionextension (or to the extent the resolutions delivered on the Effective Date approve such matters, a certification from the Borrowers (or the Company on behalf of the Borrowers) that the resolutions delivered on the Effective Date remain in full force and effect and have not been amended or otherwise modified since the adoption thereof).

Appears in 1 contract

Samples: Credit Agreement (Regeneron Pharmaceuticals Inc)

Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.25 shall not be effective with respect to any Lender unless: (i) no Default shall have occurred and be continuing on the applicable Extension Date and immediately after giving effect thereto; (ii) all representations and warranties of the Company Borrower contained in Article IV of this Agreement (other than the representation and warranty of the Company Borrower contained in Section 4.04(b) hereof) shall be true (except that for purposes of this Section 2.25(f), the representations and warranties contained in Section 4.04(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 5.01(a)) on and as of the applicable Extension Date and after giving effect thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (iii) no default or event of default under any project engineering, procurement, construction, maintenance and related activities and/or contracts of the Company Borrower or any of its Subsidiaries shall have occurred and be continuing on and as of the applicable Extension Date and after giving effect thereto which could reasonably be expected to materially and adversely affect the ability of any the Borrower to perform its obligations under the Loan Documents; and (iv) the Administrative Agent shall have received a certificate from the Company Borrower signed by a senior vice president, the chief financial officer or the treasurer of the Company Borrower (A) certifying the accuracy of the foregoing clauses (i), (ii) and (iii) and (B) certifying and attaching the resolutions adopted by each Borrower approving or consenting to such extension.,

Appears in 1 contract

Samples: Revolving Loan and Letter of Credit Facility Agreement (Fluor Corp)

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Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Term A-1 Loan Maturity Date and no more than two (2) extensions of the Term A-2 Loan Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.25 2.24 shall not be effective with respect to any Extending Lender and each Additional Commitment Lender unless: (i) the Company, the Administrative Agent, each Extending Lender and each Additional Commitment Lender (if any) shall have entered into a letter agreement confirming the applicable extension (the date of such letter agreement, the “Confirmation Date”); (ii) no Default or Event of Default shall have occurred and be continuing on the applicable Extension Confirmation Date and immediately after giving effect thereto; (iiiii) all the representations and warranties of the Company contained set forth in Article IV of this Agreement (other than the representation and warranty of the Company contained in Section 4.04(b) hereof) shall be true (except that for purposes of this Section 2.25(f), excluding the representations and warranties contained set forth in Section 4.04(aSections 3.04(b) shall be deemed to refer to and 3.06(a)) are true and correct in all material respects (or, in the most recent statements furnished pursuant to Section 5.01(a)case of any such representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the applicable Extension Confirmation Date and after giving effect (including pro forma effect) thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (iii) no default or event of default under any project engineering, procurement, construction, maintenance and related activities and/or contracts of the Company or any of its Subsidiaries shall have occurred and be continuing on and as of the applicable Extension Date and after giving effect thereto which could reasonably be expected to materially and adversely affect the ability of any Borrower to perform its obligations under the Loan Documents; and (iv) the Administrative Agent shall have received a certificate from the Company signed by a senior vice president, the chief financial officer or the treasurer Financial Officer of the Company (A) certifying the accuracy of the foregoing clauses (i), (ii) and (iii) and (B) certifying and attaching the resolutions (if any are required) adopted by each Borrower the Company approving or consenting to such extension.

Appears in 1 contract

Samples: Loan Agreement (Brown & Brown, Inc.)

Conditions to Effectiveness of Extension. Notwithstanding the foregoing, (x) no more than two (2) extensions of the Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.25 shall not be effective with respect to any Lender unless: (i) no Default shall have occurred and be continuing on the applicable Extension Date and immediately after giving effect thereto; (ii) all representations and warranties of the Company Borrower contained in Article IV of this Agreement (other than the representation and warranty of the Company Borrower contained in Section 4.04(b) hereof) shall be true (except that for purposes of this Section 2.25(f), the representations and warranties contained in Section 4.04(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 5.01(a)) on and as of the applicable Extension Date and after giving effect thereto, as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (iii) no default or event of default under any project engineering, procurement, construction, maintenance and related activities and/or contracts of the Company Borrower or any of its Subsidiaries shall have occurred and be continuing on and as of the applicable Extension Date and after giving effect thereto which could reasonably be expected to materially and adversely affect the ability of any the Borrower to perform its obligations under the Loan Documents; and (iv) the Administrative Agent shall have received a certificate from the Company Borrower signed by a senior vice president, the chief financial officer or the treasurer of the Company Borrower (A) certifying the accuracy of the foregoing clauses (i), (ii) and (iii) and (B) certifying and attaching the resolutions adopted by each the Borrower approving or consenting to such extension.

Appears in 1 contract

Samples: Revolving Loan and Letter of Credit Facility Agreement (Fluor Corp)

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