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, is subject to the satisfaction of the following conditions: (a) The representations and warranties of the Borrower set forth in this Agreement shall be true and correct on and as of the date of such Borrowing. (b) At the time of and immediately after giving effect to such Borrowing, no Default shall have occurred and be continuing. (c) The timely receipt of a Borrowing Request as required under this Agreement. 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 2 contracts

Samples: Credit Agreement (Oneida LTD), Credit Agreement (Oneida LTD)

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Each Borrowing. The obligation of each Lender to make a Loan on the occasion of any Borrowing, is subject to the satisfaction of the following conditions: (a) The representations and warranties of the Borrower set forth in this Agreement shall be true and correct on and as of the date of such BorrowingBorrowing (or to the extent that such representations and warranties specifically refer to an earlier date, as of such earlier date). (b) At the time of and immediately after giving effect to such Borrowing, no Default or Event of Default shall have occurred and be continuing. (c) The timely receipt of a Borrowing Request as required under this Agreement. 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 2 contracts

Samples: Loan and Security Agreement (Diamond Resorts Corp), Loan and Security Agreement (Diamond Resorts Corp)

Each Borrowing. The obligation of each Lender to make a Loan on the occasion of any Borrowing, is subject to the satisfaction of the following conditions: (a) The representations and warranties of the Borrower set forth in this Agreement shall be true and correct on and as of the date of such Borrowing. (b) At the time of and immediately after giving effect to such Borrowing, no Default shall have occurred and be continuing. (c) The timely receipt of a Borrowing Request as required under this Agreement. 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 2 contracts

Samples: Credit Agreement (Frontier Corp /Ny/), Credit Agreement (Frontier Corp /Ny/)

Each Borrowing. The obligation of each Lender to make a Loan on the occasion of any Borrowing, Borrowing is subject to the satisfaction of the following conditions: (a) The representations and warranties of the Borrower set forth in this Agreement shall be true and correct on and as of the date of such Borrowing. (b) At the time of and immediately after giving effect to such Borrowing, Borrowing no Default shall have occurred and be continuing. (c) The timely receipt of a Borrowing Request as required under this Agreement. 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 (Manhattan Bancorp)

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Each Borrowing. The obligation of each Lender UBOC to make a Loan on the occasion of any Borrowing, each Borrowing pursuant to Section 2.1 is subject to the satisfaction of the following conditions: (a) The the representations and warranties of the Borrower set forth in this Agreement the Loan Documents shall be true and correct on and as of the date of such Borrowing.; and (b) At at the time of of, and immediately after giving effect to to, such Borrowing, no Default shall have occurred and be continuing. (c) The timely receipt of a Borrowing Request as required under this Agreement. 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: Term Loan Agreement (Unisource Energy Corp)

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