Common use of Each Loan Clause in Contracts

Each Loan. 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. 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 (Rli Corp), Credit Agreement (Rli Corp)

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Each Loan. 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 Credit Parties set forth in this Agreement shall be true and correct in all material respects 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. Each Borrowing shall be deemed to constitute a representation and warranty by each of the Borrower Credit Parties on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section.

Appears in 2 contracts

Samples: Credit and Guarantee Agreement (Block Financial Corp), Credit and Guarantee Agreement (Block Financial Corp)

Each Loan. The obligation of each the Lender to make a any Loan on the occasion of any Borrowing Loan 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 BorrowingLoan. (b) At the time of and immediately after giving effect to such BorrowingLoan, no Default shall have occurred and be continuing. Each Borrowing The making of each Loan 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 (Photomedex Inc)

Each Loan. The obligation of each Lender the Bank to make a any Loan on --------- (including the occasion of any Borrowing intial Loan) 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 BorrowingLoan. (b) At the time of and immediately after giving effect to such Borrowing, Loan no Default shall have occurred and be continuing. Each Borrowing The borrowing of each Loan 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 (Par Technology Corp)

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Each Loan. The obligation of each Lender Bank 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 the Loan Documents shall be true and correct in all material respects on and as of the date of such BorrowingLoan. (b) At the time of and immediately after giving effect to such BorrowingLoan, no Default shall have occurred and be continuing. Each Borrowing Loan shall be deemed to constitute a representation and warranty by the Borrower on the date Borrowing Date thereof as to the matters specified in paragraphs PARAGRAPHS (a) and AND (b) of this Section.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Transmation Inc)

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