Common use of Extension of Credit Clause in Contracts

Extension of Credit. The obligation of each Bank to make a Loan on the occasion of each Borrowing and the obligation of the Revolving Fronting Banks to issue a Revolving Letter of Credit on the occasion of each request therefor by the Borrower shall in each case be subject to the satisfaction of the following conditions: (a) receipt by the Agent of a Notice of Borrowing (except in the case of the deemed issuance of Revolving Letters of Credit pursuant to the second sentence of Section 2.03(a)) or a Notice of Issuance as required by Section 2.02 or 2.03, as the case may be; (b) the fact that, immediately after such Extension of Credit, after giving effect to all direct and indirect applications of the proceeds of such Extension of Credit made substantially simultaneously with the extension thereof, the aggregate Total Outstandings of any Revolving Credit Loan Bank will not exceed its Revolving Credit Loan Commitment; (c) the fact that the making of the Borrowings, the continuation of certain Loans and the issuance of, and the Revolving L/C Drawings and the Revolving Letters of Credit under this Agreement are permitted under the terms of the Debt of the Borrower outstanding as of the date of the making of such Loan or the issuance of, and the Revolving L/C Drawings under such Revolving Letter of Credit; (d) the fact that, immediately before and after such Extension of Credit, no Default shall have occurred and be continuing; and (e) the fact that the representations and warranties of the Obligors contained in the Financing Documents (except (i) in the case of a Refunding Borrowing, the representations and warranties set forth in Section 4.05(b) and 4.06 as to any matter which has heretofore been disclosed in writing by the Borrower to the Bank Parties and (ii) in the case of the representations and warranties set forth in Section 4.16 which shall be true on and as of the date hereof) shall be true on and as of the date of such Extension of Credit. Each Extension of Credit hereunder shall be deemed to be a representation and warranty by the Borrower on the date of such Extension of Credit as to the facts specified in clauses (b) through (e) of this Section.

Extension of Credit. The obligation of each Bank to make a Loan on the occasion of each Borrowing under Section 2.02(a) and the obligation of the Revolving any Fronting Banks Bank to issue a Revolving Letter of Credit on the occasion of each request therefor by the Borrower shall in each case be subject to the satisfaction of the following conditions: (a) receipt by the Agent of a Notice of Borrowing (except in the case of the deemed issuance of Revolving Letters of Credit pursuant to the second sentence of Section 2.03(a)) or a Notice of Issuance as required by Section 2.02 or 2.03, as the case may be; (b) the fact that, immediately after such Extension of Credit, after giving effect to all direct and indirect applications of the proceeds of such Extension of Credit made substantially simultaneously with the extension thereof, (i) the aggregate Total Outstandings Exposure of any Revolving Credit Loan Bank the Banks will not exceed its Revolving Credit Loan Commitmentthe total Funding Amounts and (ii) the L/C Exposure will not exceed the balance of the Credit-Linked Deposit Account (excluding any portion of the Credit-Linked Deposit Account attributable to interest); (cb) the fact that the making of the Borrowings, the continuation such Borrowings or issuance of certain Loans and the issuance of, and the Revolving L/C Drawings and the Revolving such Letters of Credit under this Agreement (as well as any potential L/C Drawings thereunder or deemed Loans made in respect thereof) are permitted under the terms of the Debt of the Borrower outstanding as of the date of the making of such Loan or the issuance of, and the Revolving L/C Drawings under such Revolving Letter Extension of Credit; (dc) the fact that, immediately before and after such Extension of Credit, no Default or Event of Default shall have occurred and be continuing; and; (ed) the fact that the representations and warranties of the Obligors Borrower contained in the Financing Documents (except (i) in the case of a Refunding Borrowing, the representations and warranties set forth in Section 4.05(b) and 4.06 as to any matter which has heretofore been disclosed in writing by the Borrower to the Bank Parties and (ii) in the case of the representations and warranties set forth in Section 4.16 which this Agreement shall be true on and as of correct in all material respects (or to the date hereofextent qualified by materiality, true and correct) shall be true on and as of the date of such Extension of Credit; (e) for each issuance of a Letter of Credit, the Borrower shall have provided the information required by Section 2.05(b); (f) for each Borrowing pursuant to Section 2.02(a), the Borrower shall have provided a duly completed Request for Loan. Each Extension of Credit hereunder shall be deemed to be a representation and warranty by the Borrower on the date of such Extension of Credit as to the facts specified in clauses (ba) through (ef) of this Section.

Extension of Credit. The obligation of each Bank to make a Loan on the occasion of each Borrowing and the obligation of the Revolving Fronting Banks to issue a Revolving Letter of Credit on the occasion of each request therefor by the Borrower shall in each case be subject to the satisfaction of the following conditions: (a) receipt by the Agent of a Notice of Borrowing (except in the case of the deemed issuance of Revolving Letters of Credit pursuant to the second sentence of Section 2.03(a)) or a Notice of Issuance as required by Section 2.02 or 2.03, as the case may be; (b) the fact that, immediately after such Extension of Credit, after giving effect to all direct and indirect applications of the proceeds of such Extension of Credit made substantially simultaneously with the extension thereof, the aggregate Total Outstandings of any Revolving Credit Loan Bank will not exceed its Revolving Credit Loan Commitment; (c) the fact that the making of the Borrowings, the continuation of certain Loans and the issuance of, and the Revolving L/C Drawings and the Revolving Letters of Credit under this Agreement are permitted under the terms of the Debt of the Borrower outstanding as of the date of the making of such Loan or the issuance of, and the Revolving L/C Drawings under such Revolving Letter of Credit; (d) the fact that, immediately before and after such Extension of Credit, no Default shall have occurred and be continuing; and (e) the fact that the representations and warranties of the Obligors contained in the Financing Documents (except (i) in the case of a Refunding Borrowing, the representations and warranties set forth in Section 4.05(b) and 4.06 as to any matter which has heretofore been disclosed in writing by the Borrower to the Bank Parties and (ii) in the case of the representations and warranties set forth in Section 4.16 which shall be true on and as of the date hereof) shall be true on and as of the date of such Extension of Credit. Each Extension of Credit hereunder shall be deemed to be a representation and warranty by the Borrower on the date of such Extension of Credit as to the facts specified in clauses (b) through (e) of this Section.

Extension of Credit. The obligation of each Bank to make a Loan on the occasion of each Borrowing and the obligation of the Revolving Fronting Banks to issue a Revolving Letter of Credit on the occasion of each request therefor by the Borrower shall in each case be subject to the satisfaction of the following conditions: (a) receipt by the Agent of a Notice of Borrowing (except in the case of the deemed issuance of Revolving Letters of Credit pursuant to the second sentence of Section ‎Section 2.03(a)) or a Notice of Issuance as required by Section ‎Section 2.02 or 2.03‎2.03, as the case may be; (b) the fact that, immediately after such Extension of Credit, after giving effect to all direct and indirect applications of the proceeds of such Extension of Credit made substantially simultaneously with the extension thereof, (i) the aggregate Total Outstandings of any Revolving Credit Loan Bank will not exceed its Revolving Credit Loan Commitment, (ii) the aggregate Green Total Outstandings of any Revolving Credit Loan Bank will not exceed its pro rata share of the Green Revolving Credit Loan Sublimit and (iii) the aggregate Total Outstandings and Green Total Outstandings of any Revolving Credit Loan Bank will not exceed its Revolving Credit Loan Commitment; (c) the fact that the making of the Borrowings, the continuation of certain Loans and the issuance of, and the Revolving L/C Drawings and the Revolving Letters of Credit under this Agreement are permitted under the terms of the Debt of the Borrower outstanding as of the date of the making of such Loan or the issuance of, and the Revolving L/C Drawings under such Revolving Letter of Credit; (d) the fact that, immediately before and after such Extension of Credit, no Default shall have occurred and be continuing; and (e) the fact that the representations and warranties of the Obligors contained in the Financing Documents (except (i) in the case of a Refunding Borrowing, the representations and warranties set forth in Section ‎Section 4.05(b) and 4.06 as to any matter which has heretofore been disclosed in writing by the Borrower to the Bank Parties ‎4.06 and (ii) in the case of the representations and warranties set forth in Section ‎Section 4.16 which shall be true on and as of the date hereof) shall be true on and as of the date of such Extension of Credit. Each Extension of Credit hereunder shall be deemed to be a representation and warranty by the Borrower on the date of such Extension of Credit as to the facts specified in clauses (b‎(b) through (e‎(e) of this Section.

Extension of Credit. The obligation of each Bank to make a Loan on the occasion of each Borrowing and the obligation of the Revolving Fronting Banks to issue a Revolving Letter of Credit on the occasion of each request therefor by the Borrower shall in each case be subject to the satisfaction of the following conditions: (a) receipt by the Agent of a Notice of Borrowing (except in the case of the deemed issuance of Revolving Letters of Credit pursuant to the second sentence of Section 2.03(a)) or a Notice of Issuance as required by Section 2.02 or 2.03, as the case may be; (b) the fact that, immediately after such Extension of Credit, after giving effect to all direct and indirect applications of the proceeds of such Extension of Credit made substantially simultaneously with the extension thereof, the aggregate Total Outstandings of any Revolving Credit Loan Bank will not exceed its Revolving Credit Loan CommitmentCommitment and the aggregate Green Total Outstandings of any Green Revolving Credit Loan Bank will not exceed its Green Revolving Credit Loan Commitment ; (c) the fact that the making of the Borrowings, the continuation of certain Loans and the issuance of, and the Revolving L/C Drawings and the Revolving Letters of Credit under this Agreement are permitted under the terms of the Debt of the Borrower outstanding as of the date of the making of such Loan or the issuance of, and the Revolving L/C Drawings under such Revolving Letter of Credit; (d) the fact that, immediately before and after such Extension of Credit, no Default shall have occurred and be continuing; andand NYDOCS02/1004399.8 AES Sixth Amended and Restated Credit Agreement (e) the fact that the representations and warranties of the Obligors contained in the Financing Documents (except (i) in the case of a Refunding Borrowing, the representations and warranties set forth in Section 4.05(b) and 4.06 as to any matter which has heretofore been disclosed in writing by the Borrower to the Bank Parties and (ii) in the case of the representations and warranties set forth in Section 4.16 which shall be true on and as of the date hereof) shall be true on and as of the date of such Extension of Credit. Each Extension of Credit hereunder shall be deemed to be a representation and warranty by the Borrower on the date of such Extension of Credit as to the facts specified in clauses (b) through (e) of this Section.

Extension of Credit. The obligation of each Bank to make a Loan on the occasion of each Borrowing (including the continuation of certain Loans pursuant to Section 2.01) and the obligation of the a Revolving Fronting Banks Bank to issue a Revolving Letter of Credit on the occasion of each request therefor by the Borrower shall in each case be subject to the satisfaction of the following conditions: (a) receipt by the Agent of a Notice of Borrowing (except in the case of the continuation of certain Loans pursuant to Section 2.01 or the deemed issuance of Revolving Letters of Credit pursuant to the second sentence of Section 2.03(a) or the deemed issuance of the Drax Letter of Credit pursuant to Section 2.18(a)) or a Notice of Issuance as required by Section 2.02 or 2.03, as the case may be; (b) the fact that, immediately after such Extension of Credit, after giving effect to all direct and indirect applications of the proceeds of such Extension of Credit made substantially simultaneously with the extension thereof, the aggregate Total Outstandings of any Revolving Credit Loan Bank will not exceed its Revolving Credit Loan Commitment; (c) the fact that the making of the Borrowings, the continuation of certain Loans and the issuance of, and the Revolving L/C Drawings and the Drax L/C Drawings under, the Revolving Letters of Credit and the Drax Letter of Credit, respectively, under this Agreement are permitted under the terms of the Debt of the Borrower outstanding as of the date of the making of such Loan or the issuance of, and the Revolving L/C Drawings and the Drax L/C Drawings under such Revolving Letter of Credit or the Drax Letter of Credit, as applicable; (d) the fact that, immediately before and after such Extension of Credit, no Default shall have occurred and be continuing; and (e) the fact that the representations and warranties of the Obligors contained in the Financing Documents (except (i) in the case of a Refunding Borrowing, the representations and warranties set forth in Section 4.05(b) and 4.06 as to any matter which has heretofore been disclosed in writing by the Borrower to the Bank Parties and (ii) in the case of the representations and warranties set forth in Section 4.16 which shall be true on and as of the date hereof) shall be true on and as of the date of such Extension of Credit. Each Extension of Credit hereunder shall be deemed to be a representation and warranty by the Borrower on the date of such Extension of Credit as to the facts specified in clauses (b) through (e) of this Section.

Extension of Credit. The obligation of each Bank to make a Loan on the occasion of each Borrowing and the obligation of the Revolving a Fronting Banks Bank to issue a Revolving Letter of Credit (including the deemed issuance of the initial Letters of Credit pursuant to the second sentence of Section 2.03(a)) on the occasion of each request therefor by the a Borrower shall in each case be subject to the satisfaction of the following conditions: (a) the fact that the Closing Date shall have occurred on or prior March 31, 2000; (b) receipt by the Agent of a Notice of Borrowing or (except in the case of the deemed issuance of Revolving the initial Letters of Credit pursuant to the second sentence of Section 2.03(a)) or a Notice of Issuance as required by Section 2.02 or 2.03, as the case may be; (bc) the fact that, immediately after such Extension of Credit, after giving effect to all direct and indirect applications of the proceeds of such Extension of Credit made substantially simultaneously with the extension thereof, the aggregate Total Outstandings of any Revolving Credit Loan Bank will not exceed its Revolving Credit Loan Commitment; (c) the fact that the making of the Borrowings, the continuation of certain Loans and the issuance of, and the Revolving L/C Drawings and the Revolving Letters of Credit under this Agreement are permitted under the terms of the Debt of the Borrower outstanding as of the date of the making of such Loan or the issuance of, and the Revolving L/C Drawings under such Revolving Letter of Credit; (d) the fact that, immediately before and after such Extension of Credit, no Default shall have occurred and be continuing; and (e) the fact that the representations and warranties of the Obligors contained in the Financing Documents (except (i) except, in the case of a Refunding Borrowing, the representations and warranties set forth in Section 4.05(bSections 4.05(c) and 4.06 as to any matter which has heretofore theretofore been disclosed in writing by the Borrower AES to the Bank Parties and (ii) in the case of the representations and warranties set forth in Section 4.16 which shall be true on and as of the date hereofBanks) shall be true on and as of the date of such Extension of Credit. Each Extension of Credit hereunder shall be deemed to be a representation and warranty by the Borrower Borrowers on the date of such Extension of Credit as to the facts specified in clauses (bc), (d) through and (e) of this Section.

Extension of Credit. The obligation of each Bank to make a Loan on the occasion of each Borrowing and the obligation of the Revolving a Fronting Banks Bank to issue a Revolving Letter of Credit (including the deemed issuance of the initial Letters of 41 Credit pursuant to the second sentence of Section 2.03(a)) on the occasion of each request therefor by the a Borrower shall in each case be subject to the satisfaction of the following conditions: (a) the fact that the Closing Date shall have occurred on or prior to December 31, 1997; (b) receipt by the Agent of a Notice of Borrowing or (except in the case of the deemed issuance of Revolving the initial Letters of Credit pursuant to the second sentence of Section 2.03(a)) or a Notice of Issuance as required by Section 2.02 or 2.03, as the case may be; (bc) the fact that, immediately after such Extension of Credit, after giving effect to all direct and indirect applications of the proceeds of such Extension of Credit made substantially simultaneously with the extension thereof, the aggregate aggre gate Total Outstandings of any Revolving Credit Loan Bank will not exceed its Revolving Credit Loan Commitment; (c) the fact that the making of the Borrowings, the continuation of certain Loans and the issuance of, and the Revolving L/C Drawings and the Revolving Letters of Credit under this Agreement are permitted under the terms of the Debt of the Borrower outstanding as of the date of the making of such Loan or the issuance of, and the Revolving L/C Drawings under such Revolving Letter of Credit; (d) the fact that, immediately before and after such Extension of Credit, no Default shall have occurred and be continuing; and (e) the fact that the representations and warranties of the Obligors contained in the Financing Documents (except (i) except, in the case of a Refunding Borrowing, the representations and warranties set forth in Section 4.05(bSections 4.04(c) and 4.06 4.05 as to any matter which has heretofore theretofore been disclosed in writing by the Borrower AES to the Bank Parties and (ii) in the case of the representations and warranties set forth in Section 4.16 which shall be true on and as of the date hereofBanks) shall be true on and as of the date of such Extension of Credit. Each Extension of Credit hereunder shall be deemed to be a representation and warranty by the Borrower Borrowers on the date of such Extension of Credit as to the facts specified in clauses (bc), (d) through and (e) of this Section.