Common use of Each Borrowing Clause in Contracts

Each Borrowing. The Lender shall not be required to make any Borrowing unless on the applicable Borrowing Date: (a) There exists no Default or Event of Default, nor would a Default or Event of Default result from such Borrowing. (b) The representations and warranties in Article V are (i) with respect to any representations or warranties that contain a materiality qualifier, true and correct in all respects as of such Borrowing Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty was true and correct in all respects on and as of such earlier date and (ii) with respect to any representations or warranties that do not contain a materiality qualifier, true and correct in all material respects as of such Borrowing Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty was true and correct in all material respects on and as of such earlier date. (c) The Lender shall have received a Borrowing Notice in accordance with the requirements hereof. Each Borrowing Notice constitutes a representation and warranty by the Borrower that the conditions in Section 4.2(a) and (b) have been satisfied.

Appears in 4 contracts

Samples: Credit Agreement (Piper Sandler Companies), Credit Agreement (Piper Sandler Companies), Credit Agreement (Piper Sandler Companies)

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Each Borrowing. The Lender Lenders shall not be required to make any Borrowing and the Issuing Lender shall not be required to issue, amend, renew or extend any Facility Letters of Credit, unless on the applicable Borrowing Date:Date or Issuance Date (or date of amendment, renewal or extension of a Facility Letter of Credit): (ai) There exists no Default or Event of Unmatured Default, nor would a Default or Event of Default result from such Borrowing.; and (bii) The representations and warranties of the Borrower contained in Article V are (i) with respect to any representations or warranties that contain a materiality qualifier, true and correct in all respects as of such Borrowing Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty was true and correct in all respects on and as of such earlier date and (ii) with respect to any representations or warranties that do not contain a materiality qualifier, true and correct in all material respects as of such date with respect to Borrower and to any Subsidiary in existence on such date; provided that any representation or warranty that is qualified as to “materiality”, Material Adverse Effect or similar language shall be true and correct in all respects on such Borrowing Date, except to the extent Date and any such representation or warranty that is stated to relate solely to an earlier date, in which case such representation or warranty was date shall be true and correct in all material respects on and as of such earlier date. (c) The Lender shall have received a Borrowing Notice in accordance with the requirements hereof. Each Borrowing Notice constitutes Request with respect to each such Borrowing or such Letter of Credit Request shall constitute a representation and warranty by the Borrower that the conditions contained in Section 4.2(aSections 4.2(i) and (bii) have been satisfied.

Appears in 2 contracts

Samples: Credit Agreement (DDR Corp), Credit Agreement (Developers Diversified Realty Corp)

Each Borrowing. The Lender Lenders shall not be required to make any Borrowing and the Issuing Lender shall not be required to issue, amend, renew or extend any Facility Letters of Credit, unless on the applicable Borrowing Date:Date or Issuance Date (or date of amendment, renewal or extension of a Facility Letter of Credit): (ai) There exists no Default or Event of Unmatured Default, nor would a Default or Event of Default result from such Borrowing.; and (bii) The representations and warranties of the Borrower contained in Article V are (i) with respect to any representations or warranties that contain a materiality qualifier, true and correct in all respects as of such Borrowing Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty was true and correct in all respects on and as of such earlier date and (ii) with respect to any representations or warranties that do not contain a materiality qualifier, true and correct in all material respects as of such date with respect to Borrower and to any Subsidiary in existence on such date; provided that any representation or warranty that is qualified as to “materiality”, Material Adverse Effect or similar language shall be true and correct in all respects on such Borrowing Date, except to the extent Date and any such representation or warranty that is stated to relate solely to an earlier date, in which case such representation or warranty was date shall be true and correct in all material respects (or, in the case of any such representation or warranty already qualified by materiality, in all respects) on and as of such earlier date. (c) The Lender shall have received a Borrowing Notice in accordance with the requirements hereof. Each Borrowing Notice constitutes Request with respect to each such Borrowing or such Letter of Credit Request shall constitute a representation and warranty by the Borrower that the conditions contained in Section 4.2(aSections 4.2(i) and (bii) have been satisfiedsatisfied or otherwise waived by the Lenders in accordance with Section 8.2.

Appears in 1 contract

Samples: Credit Agreement (SITE Centers Corp.)

Each Borrowing. The Lender shall not be required to make any Borrowing unless on the applicable Borrowing Date: (a) 4.2.1.1. There exists no Default or Event of Default, nor would a Default or Event of Default result from such Borrowing. (b) 4.2.1.2. The representations and warranties in Article V are (i) with respect to any representations or warranties that contain a materiality qualifier, true and correct in all respects as of such Borrowing Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty was true and correct in all respects on and as of such earlier date and (ii) with respect to any representations or warranties that do not contain a materiality qualifier, true and correct in all material respects as of such Borrowing Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty was true and correct in all material respects on and as of such earlier date. (c) 4.2.1.3. The Lender shall have received a Borrowing Notice in accordance with the requirements hereof. Each Borrowing Notice constitutes a representation and warranty by the Borrower that the conditions in Section 4.2(a) and (b) have been satisfied.

Appears in 1 contract

Samples: Credit Agreement (Piper Sandler Companies)

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Each Borrowing. The Lender Lenders shall not be required to make any Borrowing and the Issuing Lender shall not be required to issue, amend, renew or extend any Facility Letters of Credit, unless on the applicable Borrowing Date:Date or Issuance Date (or date of amendment, renewal or extension of a Facility Letter of Credit): (ai) There exists no Default or Event of Unmatured Default, nor would a Default or Event of Default result from such Borrowing.; and (bii) The representations and warranties of the Borrower contained in Article V are (i) with respect to any representations or warranties that contain a materiality qualifier, true and correct in all respects as of such Borrowing Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty was true and correct in all respects on and as of such earlier date and (ii) with respect to any representations or warranties that do not contain a materiality qualifier, true and correct in all material respects as of such date with respect to Borrower and to any Subsidiary in existence on such date; provided that any representation or warranty that is qualified as to “materiality”, Material Adverse Effect or similar language shall be true and correct in all respects on such Borrowing Date, except to the extent Date and any such representation or warranty that is stated to relate solely to an earlier date, in which case such representation or warranty was date shall be true and correct in all material respects on and as of such earlier date. (c) The Lender shall have received a Borrowing Notice in accordance with the requirements hereof. Each Borrowing Notice constitutes Request with respect to each such Borrowing or such Letter of Credit Request shall constitute a representation and warranty by the Borrower that the conditions contained in Section 4.2(aSections 4.2(i) and (bii) have been satisfiedsatisfied or otherwise waived by the Lenders in accordance with Section 8.2.

Appears in 1 contract

Samples: Credit Agreement (DDR Corp)

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