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.
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Samples: Loan Agreement (Conrad Industries Inc), Loan Agreement (Conrad Industries Inc)
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 chargeschanges, 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.
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Each Additional Advance. The obligation of the Lender Banks to make additional advances Advances on the Line line of Credit 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 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 subsequent advancedate, 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 each subsequent advancesuch 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 change (in the aggregate, in Agent's and 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.Required Banks' sole
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Samples: Loan Agreement (GMX Resources Inc)
Each Additional Advance. The obligation of the Lender Banks to make additional advances Advances on the Line line of Credit 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 such each subsequent advanceAdvance or issuance, except as such representations and warranties relate to matters that are permitted by this Agreement.
(b) At the time of each subsequent advancesuch Advance or issuance, 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 chargeschanges (in the Agent's and the Required Banks' sole determination), either individually or in the aggregate, in the assets, liabilities, financial conditionscondition, business operationsoperation, affairs or circumstances of the Borrower and/or or any Guarantor from those reflected in the most recent financial statements furnished to the Lender Agent 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.
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