Each Additional Advance. The obligation of the Lenders to make additional Advances on the line of credit or the Issuing Bank to issue standby letters of credit is subject to the satisfaction of each of the following conditions:
(a) Each of the representations and warranties of the Borrower and the Subsidiaries contained in this Agreement and the Collateral Documents shall be true and correct on and as of the date of each subsequent Advance or issuance, both before and after giving effect to the proposed Advance or issuance and to the application of the proceeds therefrom, as though made on and as of such date, except as such representations and warranties relate to matters that are changed as permitted by this Agreement, or except to the extent such representations and warranties by their terms specifically refer and relate to an earlier date, in which case such representations and warranties shall have been true and correct on and as of such earlier date.
(b) At the time of such Advance, no Default shall have occurred and be continuing.
(c) There shall have occurred no material adverse change (in the Agent’s and the Required Lenders’ sole determination), either individually or in the aggregate, in the assets, liabilities, financial condition, business operations, affairs or circumstances of the Borrower and the Subsidiaries taken as a whole, except to the extent that such changes are permitted by this Agreement.
(d) If reasonably required by Agent, a bringdown title search report by a xxxxxxx or land title service in the appropriate states, confirming the absence of Lien filings against the Borrower since the effective date of the preceding bringdown search.
Each Additional Advance. The obligation of the Lender to make additional advances on the Line of Credit is subject to the satisfaction of each of the following conditions:
(a) Each of the representations and warranties of the Borrower contained in this Agreement shall be true and correct on and as of the date of such subsequent advance, except as such representations and warranties relate to matters that are permitted by this Agreement.
(b) At the time of each subsequent advance, no Default shall have occurred and be continuing and no event with the passage of time or notice (or both) would be a Default shall have occurred and be continuing.
(c) There shall have occurred no material adverse charges, either individually or in the aggregate, in the assets, liabilities, financial conditions, business operations, affairs or circumstances of the Borrower and/or Guarantor from those reflected in the most recent financial statements furnished to the Lender prior to the Closing Date, except to the extent that such changes are permitted by this Agreement; and
(d) The satisfaction with any documentation or other conditions as required herein.
Each Additional Advance. The obligation of the Lender to make additional Advances on the line of credit or issue standby letters of credit is subject to the satisfaction of each of the following conditions:
(a) Each of the representations and warranties of the Borrower contained in this Agreement shall be true and correct on and as of the date of each subsequent Advance, except as such representations and warranties relate to matters that are permitted by this Agreement.
(b) At the time of such Advance, no Default shall have occurred and be continuing.
(c) There shall have occurred no material adverse change (in the Lender's sole determination), either individually or in the aggregate, in the assets, liabilities, financial condition, business operations, affairs or circumstances of the Borrower, from those reflected in the most recent financial statements furnished to the Lender prior to the Closing Date, except to the extent that such changes are permitted by this Agreement.
(d) If reasonably required by Lender, a bringdown title search in the appropriate states, confirming the absence of Lien filings against the Borrower since the effective date of the preceding bringdown search.
Each Additional Advance. The obligation of the Banks to make additional Advances on the line of credit or the Issuing Bank to issue standby letters of credit is subject to the satisfaction of each of the following conditions:
(a) Each of the representations and warranties of the Companies contained in this Agreement and the Collateral Documents shall be true and correct on and as of the date of each subsequent Advance or issuance, both before and after giving effect to the proposed Advance or issuance and to the application of the proceeds therefrom, as though made on and as of such date, except as such representations and warranties relate to matters that are changed as permitted by this Agreement, or except to the extent such representations and warranties by their terms specifically refer and relate to an earlier date, in which case such representations and warranties shall have been true and correct on and as of such earlier date.
(b) At the time of such Advance, no Default shall have occurred and be continuing.
(c) There shall have occurred no material adverse change (in the Agent's and the Required Banks' sole
Each Additional Advance. The obligation of the Banks to make additional Advances on the line of credit or issue standby letters of credit is subject to the satisfaction of each of the following conditions:
(a) Each of the representations and warranties of the Borrower contained in this Agreement shall be true and correct on and as of the date of each subsequent Advance or issuance, except as such representations and warranties relate to matters that are permitted by this Agreement.
(b) At the time of such Advance or issuance, no Default shall have occurred and be continuing.
(c) There shall have occurred no material adverse changes (in the Agent's and the Required Banks' sole determination), either individually or in the aggregate, in the assets, liabilities, financial condition, business operation, affairs or circumstances of the Borrower or any Guarantor from those reflected in the most recent financial statements furnished to the Agent prior to the Closing Date, except to the extent that such changes are permitted by this Agreement.
Each Additional Advance. The obligation of the Bank to make additional Loan is subject to the satisfaction of each of the following conditions:
(a) Each of the representations and warranties of the Borrower contained in this Agreement and of the Guarantor in the Guaranty shall be true and correct on and as of the date of such subsequent advance.
(b) At the time of each subsequent advance, no Default or Event of Default shall have occurred and be continuing.
(c) There shall have occurred no material adverse changes, either individually or in the aggregate, in the assets, liabilities, financial conditions, business operations, affairs or circumstances of the Borrower or of the Guarantor from those reflected in the most recent financial statements furnished to the Bank prior to the date of such Loan, except to the extent that such changes are permitted by this Agreement.
(d) Bank shall have received a Request for Advance from the Borrower, together with all documents to be submitted therewith under the provisions of SectionE2.10 and/or Section 2.11 hereof.
Each Additional Advance. The obligations of the Bank to make additional Advances on the Construction Loan, or to make the Term Loan, are subject to the satisfaction of each of the following conditions:
(a) Each of the representations and warranties of the Borrower contained in this Agreement shall be true and correct on and as of the date of such subsequent Advance, except as such representations and warranties relate to matters that are permitted by this Agreement; and
(b) There shall have occurred, in the opinion of the Bank, no material adverse changes, either individually or in the aggregate, in the assets, liabilities, financial conditions, business operations, affairs or circumstances of the Companies from those reflected in the most recent financial statements furnished to the Bank prior to the Closing Date, except to the extent that such changes are permitted by this Agreement; furthermore, no Default shall, in the opinion of the Bank, have occurred and be continuing.
Each Additional Advance. The obligation of the Lender to make additional advances on the Loan is subject to the satisfaction of each of the following conditions:
(a) Each of the representations and warranties of the Borrower and Guarantor contained in this Agreement shall be true and correct on and as of the date of such subsequent advance, except as such representations and warranties relate to matters that are permitted by this Agreement.
(b) At the time of each subsequent advance, no Default shall have occurred and be continuing.
(c) There shall have occurred no material adverse changes, either individually or in the aggregate, in the assets, liabilities, financial conditions, business operations, affairs or circumstances of the Borrower or Lender from those reflected in the most recent financial statements furnished to the Lender prior to the Closing Date, except to the extent that such changes are permitted by this Agreement.
Each Additional Advance. The obligation of the Lender to make additional Advances on the line of credit or issue standby letters of credit is subject to the satisfaction of each of the following conditions:
(a) Each of the representations and warranties of the Companies contained in this Agreement and the Collateral Documents shall be true and correct on and as of the date of each subsequent Advance or issuance, both before and after giving effect to the proposed Advance or issuance and to the application of the proceeds therefrom, as though made on and as of such date, except as such representations and warranties relate to matters that are changed as permitted by this Agreement, or except to the extent such representations and warranties by their terms specifically refer and relate to an earlier date, in which case such representations and warranties shall have been true and correct on and as of such earlier date.
(b) At the time of such Advance, no Default shall have occurred and be continuing.
(c) There shall have occurred no material adverse change (in the Lender's sole determination), either individually or in the aggregate, in the assets, liabilities, financial condition, business operations, affairs or circumstances of the Borrower and the Subsidiaries taken as a whole, except to the extent that such changes are permitted by this Agreement.
(d) If reasonably required by Lender, a bringdown title search report by a landman or land title service in the appropriate states, confirming the absence of Lien filings against the Borrower since the effective date of the preceding bringdown search.
Each Additional Advance. At the time of making any advances under the Loans other than advances made on the Closing Date and after giving effect to the proposed extensions of credit; the representations and warranties of the Borrower contained in Article 6 and in the other Loan Documents shall be true on and as of the date of such additional advance with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which expressly relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or times referred to therein) and the Borrower shall have performed and complied with all covenants and conditions hereof; no Event of Default or Potential Default shall have occurred and be continuing or shall exist; the making of the requested advances shall not contravene any Law applicable to Borrower or Subsidiary of Borrower or the Bank; and the Borrower shall have delivered to the Bank a duly executed and completed Loan Request or Reducing Revolving Line Loan Request as the case may be.