Common use of Each Borrowing Clause in Contracts

Each Borrowing. The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of each L/C Issuer to issue, increase or extend any Letter of Credit, is subject to the occurrence of the Closing Date and the satisfaction of the following conditions: (a) TheExcept as set for in Section 1.04 in connection with a Limited Condition Transaction, the representations and warranties of the Loan Parties set forth in this Agreement shall be true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) on and as of the date of such Borrowing, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) as of such earlier date. (b) AtExcept as set for in Section 1.04 in connection with a Limited Condition Transaction, at the time of and immediately after giving effect to such Borrowing or the issuance, increase or extension of such Letter of Credit, as applicable, no Default or Event of Default shall have occurred and be continuing. (c) If applicable, the Administrative Agent shall have received a Borrowing Request. Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section.

Appears in 1 contract

Samples: Credit Agreement (Phinia Inc.)

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Each Borrowing. The obligation of each Lender to make a Loan on the occasion of any Borrowing, Borrowing (other than a Borrowing consisting solely of a conversion of Loans of one Type to another Type or a continuation of a Eurocurrency Rate Loan following the expiration of the applicable Interest Period) and the effectiveness of each L/C Issuer any New Commitment pursuant to issue, increase or extend any Letter of CreditSection 2.18, is subject to the occurrence of the Closing Date and the satisfaction of the following conditions: (a) TheExcept as set for in Section 1.04 in connection with The Administrative Agent shall have received a Limited Condition Transaction, the fully executed and delivered Funding Notice. (b) The representations and warranties of the Loan Parties Borrower set forth in this Agreement and the other Loan Documents shall be true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) on and as of the date of such BorrowingBorrowing or New Commitment, except as applicable; provided that to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date (provided that any representation or warranty that is other than to the extent qualified by materiality or Material Adverse Effect Effect”, in which case, such representations and warranties shall be true and correct in all respects) respects as of such earlier date.); and (bc) AtExcept as set for in Section 1.04 in connection with a Limited Condition Transaction, at At the time of and immediately after giving effect to such Borrowing or the issuance, increase or extension of such Letter of CreditNew Commitment, as applicable, no Default or Event of Default shall have occurred and be continuing. (c) If applicable, continuing on such date or after giving effect to the Administrative Agent shall have received a Borrowing Requestextension of credit requested to be made on such date. Each Borrowing and establishment of a New Commitment shall be deemed to constitute a representation and warranty by the Borrower on that the date thereof as to the matters conditions specified in paragraphs (a) and (b) of this SectionSection 4.02 have been satisfied as of the date thereof.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (LendingClub Corp)

Each Borrowing. The obligation of each Lender to make a Loan on the occasion of any Borrowing, and Borrowing (including the making of each L/C Issuer to issue, increase or extend any Letter of Credit, the Term Loans) is subject to the occurrence further condition precedent that, both immediately prior to the making of such Loan and also after giving effect thereto and to the Closing Date and the satisfaction of the following conditions: intended use thereof: (a) TheExcept as set for in Section 1.04 in connection with a Limited Condition Transaction, the representations and warranties of the Loan Parties set forth in this Agreement shall be true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) on and as of the date of such Borrowing, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) as of such earlier date. (b) AtExcept as set for in Section 1.04 in connection with a Limited Condition Transaction, at the time of and immediately after giving effect to such Borrowing or the issuance, increase or extension of such Letter of Credit, as applicable, no Default or Event of Default shall have occurred and be continuing. ; (b) no event which could reasonably be expected to have a Material Adverse Effect shall have occurred and be continuing; (c) If applicablethe representations and warranties of the Borrower set forth in each Loan Document shall be true and correct in all material respects on and as of the date of such Borrowing with the same force and effect as if 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); and (d) to the Knowledge of the Borrower, all Liens in favor of the Administrative Agent for the benefit of the Lenders pursuant to the Security Documents shall have received a Borrowing Requestbe in full force and effect with the required first priority, subject to Permitted Liens. Each Borrowing Request shall be deemed to constitute a representation and warranty certification by the Borrower on to the effect set forth in the preceding sentence (both as of the date thereof as of such notice and, unless the Borrower otherwise notifies the Administrative Agent prior to the matters specified in paragraphs (a) and (b) date of this Sectionsuch Borrowing, as of the date of such Borrowing).

Appears in 1 contract

Samples: Credit Agreement (Wisconsin Public Service Corp)

Each Borrowing. The obligation of each Lender the Lenders set forth on Schedule 1 to make a any Loan on the occasion of any Borrowing, and of each L/C Issuer to issue, increase or extend any Letter of Credit, is subject to the occurrence of the Closing Date and the satisfaction of the following additional conditions: (a) TheExcept as set for in Section 1.04 in connection with The Designated Xxxxxx shall have received a Limited Condition TransactionBorrowing Request therefor at no later than 10:00 a.m., New York City time, five Business Days prior to the date of such Borrowing. (b) The representations and warranties of the Loan Parties Borrower set forth in this Agreement Article III shall be true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) on and as of the date of such BorrowingBorrowing with the same effect as though made on and as of such date, except other than representations and warranties that relate solely to the extent an earlier date; provided that where such representations and warranties specifically refer to an earlier dateare already qualified by materiality, in which case they such representations and warranties shall be true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) as of the date of such Borrowing or such earlier date, as applicable. (bc) AtExcept as set for in Section 1.04 in connection with a Limited Condition Transaction, at the time of and immediately after giving effect to such Borrowing or the issuance, increase or extension of such Letter of Credit, as applicable, no No Default or Event of Default shall have occurred and be continuingcontinuing or shall occur from such Loan or from the application of the proceeds thereof. (cd) If applicableIn the case of any borrowing of Term Loans, the Administrative Agent fee set forth in Section 2.04(b) shall have received a Borrowing Requestbeen paid by the Borrower. Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to of such Borrowing that the matters conditions specified in paragraphs (aSections 4.02(b) and (b4.02(c) of this Sectionhave been satisfied.

Appears in 1 contract

Samples: Loan Agreement (Weber Inc.)

Each Borrowing. The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of each L/C Issuer to issue, increase or extend any Letter of Credit, Borrowing is subject to the occurrence of the Closing Date and the satisfaction of the following conditions: (a) TheExcept as set for in Section 1.04 in connection with a Limited Condition TransactionAt the time of and immediately after giving effect to such Borrowing, the representations and warranties of the Loan Parties set forth in this Agreement the Loan Documents shall be true and correct (or, in the case of any representation or warranty that is not qualified as to materiality, true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) on and as of the date of such BorrowingBorrowing (or, except to in the extent case of any representation and warranty that such representations and warranties specifically refer expressly relates to an earlier date, in which case they shall be true on and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) as of such earlier date). (b) AtExcept as set for in Section 1.04 in connection with a Limited Condition Transaction, at At the time of and immediately after giving effect to such Borrowing or the issuance, increase or extension of such Letter of Credit, as applicable, no Default or Event of Default shall have occurred and be continuing. (c) If At the time of and immediately after giving effect to such Borrowing, the Supply Agreement shall be in full force and effect and the Parent and the Borrowers shall be in compliance therewith in all material respects. (d) At the time of and immediately after giving effect to such Borrowing the Parent shall be in compliance with its obligations under Section 2.19, if applicable, with respect to the Administrative Agent Shelf Registration. (e) If any portion of such Borrowing is to be used to finance all or any part of the Purchase Price of any assets that have been or are being acquired by or transferred to a Foreign Subsidiary Equipment Owner as contemplated by Section 6.13, then all arrangements with respect thereto contemplated by Section 6.13 shall have received a Borrowing Requestbeen completed. Each Borrowing shall be deemed to constitute a representation and warranty by the Designated Borrower on the date thereof as to the matters specified in paragraphs (a) and ), (b), (c), (d) and, if applicable, (e) of this Section.

Appears in 1 contract

Samples: Credit Agreement (Winstar Communications Inc)

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Each Borrowing. The obligation of each Lender to make a Loan on the occasion of any Borrowing, and Borrowing (other than any conversion or continuation of each L/C Issuer to issue, increase or extend any Letter of Credit, Loan) is subject to the occurrence of the Closing Date and the satisfaction (or waiver in accordance with Section 10.02) of the following conditions: (a) TheExcept as set for in Section 1.04 in connection with a Limited Condition Transaction, the The representations and warranties of the Loan Parties Obligors set forth in Article III of this Agreement (other than Sections 3.04 and 3.05(a)(i)) or any other Loan Document, or which are contained in any certificate or notice delivered at any time by any Obligor under or in connection herewith or therewith, shall be true and correct in all material respects (provided that any representation or warranty that is unless already qualified by materiality or Material Adverse Effect Effect, in which case they shall be true and correct in all respects) on and as of the date of such Borrowing, except before and after giving effect to the extent that such representations and warranties specifically refer to an earlier Borrowing, or if any such representation or warranty was made as of a specific date, in which case they shall be such representation and warranty was true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true on and correct in all respects) as of such earlier date. (b) AtExcept as set for in Section 1.04 in connection with a Limited Condition Transaction, at At the time of and immediately after giving effect to such Borrowing or the issuance, increase or extension of such Letter of Credit, as applicableBorrowing, no Default or Event of Default shall have occurred and be continuing. (c) If applicable, the Administrative Agent The Borrower shall have received delivered a Borrowing RequestRequest in accordance with Section 2.03. (d) In the case of a Borrowing to be denominated in an Alternative Currency, such currency remains an Eligible Currency. Each Borrowing Request shall be deemed to constitute a representation and warranty by the Borrower Obligors on the date thereof of such Borrowing Request and the date of the Borrowing requested thereunder as to the matters specified in paragraphs (a) and (b) of this Section.

Appears in 1 contract

Samples: Credit Agreement (TE Connectivity Ltd.)

Each Borrowing. The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of each L/C Issuer to issue, increase or extend any Letter of Credit, is subject to the occurrence of the Closing Date and the satisfaction of the following conditions: (a) TheExcept Except as set for in Section 1.04 in connection with a Limited Condition Transaction, the representations and warranties of the Loan Parties set forth in this Agreement shall be true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) on and as of the date of such Borrowing, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) as of such earlier date. (b) AtExcept Except as set for in Section 1.04 in connection with a Limited Condition Transaction, at the time of and immediately after giving effect to such Borrowing or the issuance, increase or extension of such Letter of Credit, as applicable, no Default or Event of Default shall have occurred and be continuing. (c) If applicable, the Administrative Agent shall have received a Borrowing Request. Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section.

Appears in 1 contract

Samples: Credit Agreement (Phinia Inc.)

Each Borrowing. The obligation of each Lender Lenders shall not be required to make a Loan on any Borrowing and the occasion of any Borrowing, and of each L/C Issuer Issuing Lender shall not be required to issue, increase amend, renew or extend any Facility Letters of Credit, unless on the applicable Borrowing Date or Issuance Date (or date of amendment, renewal or extension of a Facility Letter of Credit, is subject to the occurrence of the Closing Date and the satisfaction of the following conditions:): (ai) TheExcept as set for in Section 1.04 in connection with a Limited Condition Transaction, the There exists no Default or Unmatured Default; and (ii) The representations and warranties of the Loan Parties set forth Borrower contained in this Agreement shall be Article V are 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 by materiality or as to “materiality”, Material Adverse Effect or similar language shall be true and correct in all respects) respects on such Borrowing Date and as of the date of any such Borrowing, except representation or warranty that is stated to the extent that such representations and warranties specifically refer relate solely to an earlier date, in which case they date shall be true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect shall be true on and correct in all respects) as of such earlier date. (b) AtExcept as set for in Section 1.04 in connection . Each Borrowing Request with a Limited Condition Transaction, at the time of and immediately after giving effect respect to each such Borrowing or the issuance, increase or extension of such Letter of Credit, as applicable, no Default or Event of Default Credit Request shall have occurred and be continuing. (c) If applicable, the Administrative Agent shall have received a Borrowing Request. Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower on that the date thereof as to the matters specified conditions contained in paragraphs (aSections 4.2(i) and (bii) of this Sectionhave been satisfied 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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