Each Extension of Credit. Each request by PHI for a Loan shall constitute a warranty and representation by PHI to Bank that there exists no Default or any condition, event or act which constitutes, or with notice or lapse of time (or both) would constitute a Default as defined by this Agreement.
Appears in 4 contracts
Samples: Loan Agreement (Phi Inc), Loan Agreement (Phi Inc), Loan Agreement (Petroleum Helicopters Inc)