Common use of Further Conditions for Disbursement Clause in Contracts

Further Conditions for Disbursement. The obligation of the Bank to make any Advance (including the first Advance), or any continuation or conversion under Section 2.7, is further subject to the following conditions being satisfied: (a) The representations and warranties contained in Article IV shall be true and correct on and as of the date such Advance is made (both before and after such Advance is made) as if such representations and warranties were made on and as of such date; (b) No Default or Event of Default shall exist or shall have occurred and be continuing on the date such Advance is made (whether before or after such Advance is made); and (c) In the case of any Letter of Credit Advance, the Company shall have delivered to the Bank an application for the related Letter of Credit and other related documentation requested by and acceptable to the Bank appropriately completed and duly executed on behalf of the Company. The Company shall be deemed to have made a representation and warranty to the Bank at the time of the making of, and the continuation or conversion of, each Advance to the effects set forth in clauses (a) and (b) of this Section 2.6. For purposes of this Section 2.6, the representations and warranties contained in Section 4.6 shall be deemed made with respect to both the financial statements referred to therein and the most recent financial statements delivered pursuant to Section 5.1(d)(ii) and (iii).

Appears in 2 contracts

Samples: Credit Agreement (Learning Care Group, Inc), Credit Agreement (Childtime Learning Centers Inc)

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Further Conditions for Disbursement. The Your obligation of the Bank to make any Advance (including the first Advance), or any continuation or conversion under Section 2.7, ) is further subject to the satisfaction of the following conditions being satisfiedprecedent: (ai) The representations and warranties contained in Article IV Section 7 hereof and in any of the Loan Documents shall be true and correct on and as of the date such Advance is made (both before and after such Advance is made) as if such representations and warranties were made on and as of such date; (bii) No Default or Event of Default shall exist or shall have occurred and be continuing on the date such Advance is made (whether before or after such Advance is made); and (ciii) In the case of any Letter of Advance under the Revolving Credit AdvanceLoan, the Company you shall have delivered received, when due, all Reports required pursuant to the Bank an application for the related Letter of Credit and other related documentation requested by and acceptable to the Bank appropriately completed and duly executed on behalf Section 5(B) as of the Companyclose of business on the last business day of the week next preceding the date such Advance is made. The Company We shall be deemed to have made a representation and warranty to the Bank you at the time of the making of, and the continuation or conversion of, each Advance to the effects set forth in clauses (aA) and (bB) of this Section 2.68. For purposes of this Section 2.68(B), the representations and warranties contained in Section 4.6 7 hereof shall be deemed made with respect to both the financial statements referred to therein and the most recent financial statements delivered pursuant to Section 5.1(d)(ii) and (iii5(B).

Appears in 2 contracts

Samples: Loan and Security Agreement (Earth Biofuels Inc), Loan and Security Agreement (Bontex Inc)

Further Conditions for Disbursement. The obligation of the Bank to make any Advance (including the first Advance), or any continuation or conversion under Section 2.7, 2.7 is further subject to the satisfaction of the following conditions being satisfiedprecedent: (a) The representations and warranties contained in Article IV hereof and in the Security Documents shall be true and correct on and as of the date such Advance is made (both before and after such Advance is made) as if such representations and warranties were made on and as of such date; (b) No Default or Event of Default shall exist or shall have occurred and be continuing on the date such Advance is made (whether before or after such Advance is made); and (c) In the case of any Letter of Credit Advance, the Company shall have delivered to the Bank an application for the related Letter of Credit and other related documentation requested by and acceptable to the Bank appropriately completed and duly executed on behalf of the Company. The Company shall be deemed to have made a representation and warranty to the Bank at the time of the making of, and the continuation or conversion of, each Advance to the effects set forth in clauses (a) and (b) of this Section 2.6. For purposes of this Section 2.6, 2.6 the representations and warranties contained in Section 4.6 hereof shall be deemed made with respect to both the financial statements referred to therein and the most recent financial statements delivered pursuant to Section 5.1(d)(ii) and (iii).

Appears in 1 contract

Samples: Loan Agreement (Ajk Enterprises Inc)

Further Conditions for Disbursement. The Your obligation of the Bank to make any Advance (including the first Advance), or any continuation or conversion under Section 2.7, ) is further subject to the satisfaction of the following conditions being satisfiedprecedent: (ai) The representations and warranties contained in Article IV Section 7 hereof and in any of the Loan Documents shall be materially true and correct on and as of the date such Advance is made (both before and after such Advance is made) as if such representations and warranties were made on and as of such date; (bii) No Default or Event of Default shall exist or shall have occurred and be continuing on the date such Advance is made (whether before or after such Advance is made); and (ciii) In the case of any Letter of Advance under the Revolving Credit AdvanceLoan, the Company you shall have delivered received, when due, all Reports required pursuant to the Bank an application for the related Letter of Credit and other related documentation requested by and acceptable to the Bank appropriately completed and duly executed on behalf Section 5(B) as of the Companyclose of business on the last business day of the week next preceding the date such Advance is made. The Company We shall be deemed to have made a representation and warranty to the Bank you at the time of the making of, and the continuation or conversion of, each Advance to the effects set forth in clauses (aA) and (bB) of this Section 2.68. For purposes of this Section 2.68(B), the representations and warranties contained in Section 4.6 7 hereof shall be deemed made with respect to both the financial statements referred to therein and the most recent financial statements delivered pursuant to Section 5.1(d)(ii) and (iii5(B).

Appears in 1 contract

Samples: Loan and Security Agreement (AHPC Holdings, Inc.)

Further Conditions for Disbursement. The obligation of the Bank Banks to make any Advance Loan (including the first AdvanceLoan), or any continuation or conversion under Section 2.7, is further subject to the following conditions precedent being satisfied: (a) The representations and warranties contained in Article IV and in the Security Documents shall be true and correct on and as of the date such Advance Loan is made (both before and after such Advance Loan is made) as if such representations and warranties were made on and as of such date; (b) No Event of Default or Event of Default shall exist or shall have occurred and be continuing on the date such Advance Loan is made (whether before or after such Advance Loan is made); and; (c) In the case of any Letter of Credit Advance, the The Company shall have executed and delivered all further documents and taken all further action that the Agent may request in order to perfect the Bank an application for Banks' security interest in the related Letter of Credit and other related documentation requested by and acceptable collateral to be purchased with the Bank appropriately completed and duly executed on behalf proceeds of the Companyrequested Loan. The Company shall be deemed to have made a representation and warranty to the Bank Banks at the time of the making of, and the continuation or conversion of, each Advance Loan to the effects effect set forth in clauses (a) and (b) of this Section 2.6. For purposes of this Section 2.6, the representations and warranties contained in Section 4.6 shall be deemed made with respect to both the financial statements referred to therein and the most recent financial statements delivered pursuant to Section 5.1(d)(ii) and (iii).

Appears in 1 contract

Samples: Credit and Intercreditor Agreement (Amcast Industrial Corp)

Further Conditions for Disbursement. The obligation of the Bank Lender to make any Advance (including the first Advance), or any continuation or conversion under Section 2.7, ) is further subject to the satisfaction of the following conditions being satisfiedprecedent: (ai) The representations and warranties contained in Article IV Section 8 hereof and in any of the Loan Documents shall be true and correct on and as of the date such Advance is made (both before and after such Advance is made) as if such representations and warranties were made on and as of such date; (bii) No Default or Event of Default shall exist or shall have occurred and be continuing on the date such Advance is made (whether before or after such Advance is made); and (ciii) In the case of any Letter of Advance under the Revolving Credit AdvanceLoan, the Company Lender shall have delivered received, when due, all Reports required pursuant to the Bank an application for the related Letter of Credit and other related documentation requested by and acceptable to the Bank appropriately completed and duly executed on behalf Section 6.(B) as of the Companyclose of business on the last business day of the week next preceding the date such Advance is made. The Company Borrower shall be deemed to have made a representation and warranty to the Bank Lender at the time of the making of, and the continuation or conversion of, each Advance to the effects set forth in clauses (aA) and (bB) of this Section 2.69. For purposes of this Section 2.69.(B), the representations and warranties contained in Section 4.6 8 hereof shall be deemed made with respect to both the financial statements referred to therein and the most recent financial statements delivered pursuant to Section 5.1(d)(ii) and (iii)6.

Appears in 1 contract

Samples: Loan and Security Agreement (Rolling Pin Kitchen Emporium Inc)

Further Conditions for Disbursement. The Lender’s obligation of the Bank to make any Advance (including the first initial Advance), or any continuation or conversion under Section 2.7, ) is further subject to the satisfaction of the following conditions being satisfiedprecedent: (ai) The representations and warranties contained in Article IV Section 7 hereof and in any of the Loan Documents shall be true and correct on and as of the date such Advance is made (both before and after such Advance is made) as if such representations and warranties were made on and as of such date; (bii) No Default or Event of Default shall exist or shall have occurred and be continuing on the date such Advance is made (whether before or after such Advance is made); and (ciii) In the case of any Letter of Advance under the Revolving Credit AdvanceLoan, the Company Lender shall have delivered received, when due, all Reports required pursuant to the Bank an application for the related Letter of Credit and other related documentation requested by and acceptable to the Bank appropriately completed and duly executed on behalf Section 5(b) as of the Companyclose of business on the last business day of the week next preceding the date such Advance is made. The Company Borrower shall be deemed to have made a representation and warranty to the Bank Lender at the time of the making of, and the continuation or conversion of, each Advance to the effects set forth in clauses (a) and (b) of this Section 2.68. For purposes of this Section 2.68(b), the representations and warranties contained in Section 4.6 7 hereof shall be deemed made with respect to both the financial statements referred to therein and the most recent financial statements delivered pursuant to Section 5.1(d)(ii) and (iii5(b).

Appears in 1 contract

Samples: Revolving Credit Loan Rider (Pen Inc.)

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Further Conditions for Disbursement. The obligation of the Bank Lenders to make any Advance (including the first Advance), or any continuation or conversion under Section 2.7, 2.7 is further subject to the satisfaction of the following conditions being satisfiedprecedent: (a) The representations and warranties contained in Article IV hereof shall be true and correct on and as of the date such Advance is made (both before and after such Advance is made) as if such representations and warranties were made on and as of such date; (b) No Default or Event of Default shall exist or shall have occurred and be continuing on the date such Advance is made (whether before or after such Advance is made); and; (c) In the case of any Letter of Credit Advance, the Company shall have delivered to the Bank Agent an application for the related Letter of Credit and other related documentation requested by and acceptable to the Bank Agent appropriately completed and duly executed on behalf of the Company. The Company shall be deemed to have made a representation and warranty to the Bank Lenders at the time of the making of, and the continuation or conversion of, each Advance to the effects set forth in clauses (a) and (b) of this Section 2.6. For purposes of this Section 2.6, 2.6 the representations and warranties contained in Section 4.6 hereof shall be deemed made with respect to both the financial statements referred to therein and the most recent financial statements delivered pursuant to Section 5.1(d)(ii) and (iii).

Appears in 1 contract

Samples: Loan Agreement (Airnet Systems Inc)

Further Conditions for Disbursement. The Your obligation of the Bank to make any Advance (including the first Advance), or any continuation or conversion under Section 2.7, ) is further subject to the satisfaction of the following conditions being satisfiedprecedent: (ai) The representations and warranties contained in Article IV Paragraph 8 hereof and in any of the Loan Documents shall be true and correct on and as of the date such Advance is made (both before and after such Advance is made) as if such representations and warranties were made on and as of such date; (bii) No Default or Event of Default shall exist or shall have occurred and be continuing on the date such Advance is made (whether before or after such Advance is made); and (ciii) In the case of any Letter of Advance under the Revolving Credit AdvanceLoan, the Company you shall have delivered received, when due, all Reports required pursuant to the Bank an application for the related Letter of Credit and other related documentation requested by and acceptable to the Bank appropriately completed and duly executed on behalf Paragraph 6(B) as of the Companyclose of business on the last business day of the week next preceding the date such Advance is made. The Company We shall be deemed to have made a representation and warranty to the Bank you at the time of the making of, and the continuation or conversion of, each Advance to the effects set forth in clauses (aA) and (bB) of this Section 2.6Paragraph 9. For purposes of this Section 2.6Paragraph 9(B), the representations and warranties contained in Section 4.6 Paragraph 8 hereof shall be deemed made with respect to both the financial statements referred to therein and the most recent financial statements delivered pursuant to Section 5.1(d)(ii) and (iiiParagraph 6(B).

Appears in 1 contract

Samples: Loan and Security Agreement (Diversified Corporate Resources Inc)

Further Conditions for Disbursement. The obligation of the Bank Lender to make any Advance (including the first Advance), or any continuation or conversion under Section 2.7, ) is further subject to the satisfaction of the following conditions being satisfiedprecedent: (ai) The representations and warranties contained in Article IV Section hereof and in any of the Loan Documents shall be true and correct on and as of the date such Advance is made (both before and after such Advance is made) as if such representations and warranties were made on and as of such date; (bii) No Default or Event of Default shall exist or shall have occurred and be continuing on the date such Advance is made (whether before or after such Advance is made); and (ciii) In the case of any Letter of Advance under the Revolving Credit AdvanceLoan, the Company Lender shall have delivered received, when due, all Reports required pursuant to the Bank an application for the related Letter of Credit and other related documentation requested by and acceptable to the Bank appropriately completed and duly executed on behalf Section 6(B) as of the Companyclose of business on the last business day of the week next preceding the date such Advance is made. The Company Borrower shall be deemed to have made a representation and warranty to the Bank Lender at the time of the making of, and the continuation or conversion of, each Advance to the effects set forth in clauses (aA) and (bB) of this Section 2.6. For purposes of this Section 2.6, the representations and warranties contained in Section 4.6 hereof shall be deemed made with respect to both the financial statements referred to therein and the most recent financial statements delivered pursuant to Section 5.1(d)(ii) and (iii)6.

Appears in 1 contract

Samples: Loan and Security Agreement (Gaylord Companies Inc)

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