Common use of Effect of Drawdown Notice Clause in Contracts

Effect of Drawdown Notice. Each Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date as if made on such date, and (b) that no Event of Default or any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 4 contracts

Samples: Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp), Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp), Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp)

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Effect of Drawdown Notice. Each Delivery of a Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such the Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 4 contracts

Samples: Facility Agreement (International Shipholding Corp), Facility Agreement (International Shipholding Corp), Facility Agreement (International Shipholding Corp)

Effect of Drawdown Notice. Each The Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such the Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 3 contracts

Samples: Credit Facility Agreement (Tidewater Inc), Loan Agreement (Omi Corp/M I), Loan Agreement (Omi Corp/M I)

Effect of Drawdown Notice. Each Delivery of the Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such the Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 3 contracts

Samples: Credit Agreement (International Shipholding Corp), Credit Agreement (International Shipholding Corp), Credit Agreement (International Shipholding Corp)

Effect of Drawdown Notice. Each Such Drawdown Notice shall be deemed to constitute a warranty by the Borrower that Borrowers (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the relevant Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 3 contracts

Samples: Credit Facility Agreement (Top Ships Inc.), Credit Facility Agreement (Top Ships Inc.), Credit Facility Agreement (Top Tankers Inc.)

Effect of Drawdown Notice. Each The Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) that the representations and warranties stated in Section Clause 2 (updated mutatis mutandis) are true and correct in all material respects on the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date the Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 2 contracts

Samples: Term Loan Agreement (Teekay Shipping Corp), Term Loan Agreement (Teekay Shipping Corp)

Effect of Drawdown Notice. Each Delivery of a Drawdown Notice shall be deemed to constitute a warranty by each of the Borrower that Borrowers (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such the Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 2 contracts

Samples: Facility Agreement (International Shipholding Corp), Facility Agreement (International Shipholding Corp)

Effect of Drawdown Notice. Each Such Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the relevant Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 2 contracts

Samples: Loan Agreement (Gulfmark Offshore Inc), Credit Facility Agreement (Top Tankers Inc.)

Effect of Drawdown Notice. Each Delivery of a Drawdown Notice shall be deemed to constitute a warranty by the Borrower that Borrowers (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such the Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (Dorian LPG Ltd.)

Effect of Drawdown Notice. Each Such Drawdown Notice shall be deemed to constitute a warranty by the Borrower that Borrowers (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such the Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the relevant Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Term Loan and Revolving Credit Facility Agreement (Stolt Nielsen S A)

Effect of Drawdown Notice. Each The Drawdown Notice shall be deemed to constitute a warranty by the Borrower that Borrowers (a) that the representations and warranties stated in Section Clause 2 (updated mutatis mutandisMUTATIS MUTANDIS) are true and correct in all material respects on the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date the relevant Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Term Loan Agreement (Teekay Shipping Corp)

Effect of Drawdown Notice. Each Such Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of relevant Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

Effect of Drawdown Notice. Each The Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such the Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the Drawdown Date as if made on such date, and (b) that no Event of Default or any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (Tidewater Inc)

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Effect of Drawdown Notice. Each The Drawdown Notice shall be deemed to constitute a warranty by the Borrower that Borrowers (a) that the representations and warranties stated in Section Clause 2 (updated mutatis mutandis) are true and correct in all material respects on the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date the Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Term Loan Agreement (Teekay Shipping Corp)

Effect of Drawdown Notice. Each The Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such the Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time passage or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Effect of Drawdown Notice. Each The Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such the Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the Drawdown Date as if made on such date, and (b) that no Event of Default or any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Facility Agreement (K-Sea Transportation Partners Lp)

Effect of Drawdown Notice. Each Such Drawdown Notice shall be deemed to constitute a warranty by the Borrower that Borrowers (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of relevant Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

Effect of Drawdown Notice. Each Such Drawdown Notice shall be deemed to constitute a joint and several and solidary warranty by the Borrower that Borrowers (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of relevant Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

Effect of Drawdown Notice. Each Such Drawdown Notice shall be deemed to constitute a warranty by each of the Borrower that Borrowers (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date and as of the relevant Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Secured Credit Facility Agreement (Teekay Shipping Corp)

Effect of Drawdown Notice. Each such Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on and as of the date of such Drawdown Notice and will be true and correct in all material respects on and as of such drawdown date Drawdown Date as if made on such date, and (b) that no Event of Default or nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Term Loan and Credit Facility Agreement (Noble Corp / Switzerland)

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