Each Revolving Loan. The obligation of each Lender to make each Revolving Loan under this Agreement is subject to the satisfaction of the following conditions: (a) at the time of and immediately after giving effect to such Revolving Loan, no Default or Event of Default shall exist; (b) all representations and warranties of the Borrower herein shall be true and correct in all material respects on and as of the date of such Revolving Loan both before and after giving effect thereto (except for representations and warranties expressly made as of a specified date, which such representations and warranties shall be true and correct in all material respects as of such date); (c) since September 30, 2013, there shall have been no change which has had or could reasonably be expected to have a Material Adverse Effect; (d) no applicable legislation has been passed or any suit or other proceeding has been instituted the effect of which is to prohibit, enjoin (or to declare unlawful or improper) or otherwise adversely affect, in the Lender’s reasonable judgment, the Borrower’s performance of its obligations hereunder, and no litigation or governmental proceeding has been instituted or threatened against the Borrower or any Financial Institution Subsidiary or any of their officers which, in the reasonable discretion of the Lender, may materially and adversely affect the financial condition or operations of the Borrower or such Financial Institution Subsidiary; (e) the Lender shall have received a duly executed Notice of Borrowing in accordance with Section 2.2 hereof; and (f) the Lender shall have received such other documents, certificates, information or legal opinions as it may reasonably request, all in form and substance reasonably satisfactory to the Lender. 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), (b), (c) and (d) of this Section 3.2.
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Samples: Credit Agreement (United Community Banks Inc), Credit Agreement (United Community Banks Inc)
Each Revolving Loan. The obligation of each Lender the Lenders to make each a Loan on the occasion of any Borrowing (but excluding Revolving Loan under this Agreement is Loans the proceeds of which are to reimburse the Swingline Bank for Swingline Loans), are subject to the satisfaction of the following conditions:
(a) at Receipt by the Administrative Agent of a Borrowing Request.
(b) The representations and warranties of the Borrowers set forth in this Agreement shall be true and correct on and as of the date of such Borrowing.
(c) At the time of and immediately after giving effect to such Revolving LoanBorrowing, no Default or Event of Default shall exist;
(b) all representations have occurred and warranties of the Borrower herein shall be true and correct in all material respects on and as of the date of such Revolving Loan both before and after giving effect thereto (except for representations and warranties expressly made as of a specified date, which such representations and warranties shall be true and correct in all material respects as of such date);
(c) since September 30, 2013, there shall have been no change which has had or could reasonably be expected to have a Material Adverse Effect;continuing.
(d) no applicable legislation has been passed or After giving effect to any suit or other proceeding has been instituted the effect of which requested Revolving Borrowing, Revolving Availability is to prohibit, enjoin (or to declare unlawful or improper) or otherwise adversely affect, in the Lender’s reasonable judgment, the Borrower’s performance of its obligations hereunder, and no litigation or governmental proceeding has been instituted or threatened against the Borrower or any Financial Institution Subsidiary or any of their officers which, in the reasonable discretion of the Lender, may materially and adversely affect the financial condition or operations of the Borrower or such Financial Institution Subsidiary;not less than zero.
(e) A copy of the Lender notice to the Convertible Notes Trustee pursuant to, and demonstrating, after giving effect to any requested Revolving Borrowing, compliance with, Section 10.12 of the Convertible Notes Indenture; provided, however, a copy of such notice shall have received a duly executed Notice not be required to be delivered with the Borrowing Request in the event that (x) after giving effect to any requested Revolving Borrowing, the aggregate amount of Borrowing in accordance with Section 2.2 hereof; and
the outstanding Revolving Exposure and LC Exposure does not exceed $62,000,000, (fy) the Lender shall have received such other documents, certificates, information or legal opinions subject Borrowing Request relates to a fiscal period as it may reasonably request, all in form and substance reasonably satisfactory to which Holdings has previously delivered to the LenderAdministrative Agent a copy of the appropriate notice to the Convertible Notes Trustee or (z) the Convertible Notes Indenture has been terminated. 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), (b), (c), (d) and (de) of this Section 3.2Section.
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Each Revolving Loan. The obligation of each Lender to make each Revolving Loan under this Agreement is subject to the satisfaction of the following conditions:
(a) at the time of and immediately after giving effect to such Revolving Loan, no Default or Event of Default shall exist;
(b) all representations and warranties of the Borrower herein shall be true and correct in all material respects on and as of the date of such Revolving Loan both before and after giving effect thereto (except for representations and warranties expressly made as of a specified date, which such representations and warranties shall be true and correct in all material respects as of such date);
(c) since September 30December 31, 20132007, there shall have been no change which has had or could reasonably be expected to have a Material Adverse Effect;
(d) no applicable legislation has been passed or any suit or other proceeding has been instituted the effect of which is to prohibit, enjoin (or to declare unlawful or improper) or otherwise adversely affect, in the LenderAdministrative Agent’s reasonable sole and absolute judgment, the Borrower’s performance of its obligations hereunder, and no litigation or governmental proceeding has been instituted or threatened against the Borrower or any Financial Institution Subsidiary or any of their officers or shareholders which, in the reasonable sole discretion of the LenderAdministrative Agent, may materially and adversely affect the financial condition or operations of the Borrower or such Financial Institution Subsidiary;
(e) no Lender has reasonable grounds to believe that any Collateral might be subject to forfeiture under any RICO Related Law or any of the Lender Collateral is subject to any Lien other than in favor of the Lenders;
(f) the Administrative Agent shall have received a duly executed Notice of Borrowing in accordance with Section 2.2 hereof; and
(fg) the Lender Administrative Agent shall have received such other documents, certificates, information or legal opinions as it or the Required Lenders may reasonably request, all in form and substance reasonably satisfactory to the LenderAdministrative Agent. 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), (b), (c) and (d) of this Section 3.2.
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