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 (with the exception, in the case of a Borrowing subsequent to the Effective Date, of the representations and warranties in Section 3.04(b) and Section 3.06) 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) At the time of such Borrowing no Event of Fraud shall have occurred. 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) through (c) of this Section.

Appears in 3 contracts

Samples: Credit Agreement (Nelnet Inc), Credit Agreement (Nelnet Inc), Credit Agreement (Nelnet Inc)

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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 (with the exception, in the case of a Borrowing subsequent to the Effective Date, of the representations and warranties in Section Sections 3.04(b) and Section 3.06) 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) At the time of such Borrowing no Event of Fraud shall have occurred. 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) through and (cb) of this Section.

Appears in 2 contracts

Samples: Credit Agreement (Nelnet Inc), Credit Agreement (Nelnet Inc)

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 (with the exceptionAgreement, in the case of a Borrowing subsequent to the Effective Date, of and the representations and warranties of the Borrower and the Material Subsidiaries set forth in Section 3.04(b) and Section 3.06) the other Loan Documents, 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 or Event of Default shall have occurred and be continuing. (c) At the time of such Borrowing no Event of Fraud shall have occurred. 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) through and (cb) of this Section.

Appears in 1 contract

Samples: Credit Agreement (Itt Educational Services Inc)

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Each Borrowing. The obligation of each Lender (as applicable) 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 each Borrower set forth in this Agreement (with the exception, or in the case of a Borrowing subsequent to the Effective Date, of the representations and warranties in Section 3.04(b) and Section 3.06) any other Loan Document shall be true and correct on and as of the date of such BorrowingBorrowing (it being understood and agreed that any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct only as of such specified date). (b) At the time of and immediately after giving effect to such Borrowing Borrowing, no Default shall have occurred and be continuing. (c) At With respect to any requested Borrowings, the time of such Borrowing no Event of Fraud Borrowers shall have occurredcomplied with Section 2.03. Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower Borrowers on the date thereof as to the matters specified in paragraphs (a) through (c) of this Section.

Appears in 1 contract

Samples: Revolving Credit Agreement (NexPoint Strategic Opportunities Fund)

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