Common use of Further Conditions for Disbursement Clause in Contracts

Further Conditions for Disbursement. The obligation of the Lender to make any Advance on the occasion of each Borrowing (including without limitation the first Borrowing) is further subject to the satisfaction of the following conditions precedent: (a) receipt by the Lender of a Notice of Borrowing as required under this Agreement and, in the case of any Letter of Credit Advance, the Account Party shall have delivered to the Lender an application for the related Letter of Credit, a Joinder Agreement (if the Account Party is not the Company) and other related documentation requested by and acceptable to the Lender appropriately completed and duly executed on behalf of the Account Party thereto. (b) the fact that, immediately after such Borrowing, the aggregate outstanding principal amount of the Borrowings will not exceed the aggregate amount of the relevant Commitment or otherwise be in excess of the amount permitted under Section 2.3; (c) the fact that, at the time of, and immediately after, such Borrowing, no Default or Event of Default shall have occurred and be continuing; and (d) the fact that the representations and warranties of the Company contained in this Agreement shall be true in all material respects as of the date of such Borrowing. Each Borrowing hereunder shall be deemed to be a representation and warranty by the Company on the date of such Borrowing as to the facts specified in subsection (b), (c) and (d) of this Section. For purposes of this Section the representations and warranties contained in Section 4.5 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 5.4.

Further Conditions for Disbursement. The obligation of the Lender Banks to make Loans for any Advance on the occasion of each Borrowing (including without limitation the first Borrowing) ), or any continuation or conversion under Section 2.7, is further subject to the satisfaction of the following conditions precedent: (a) receipt by the Lender of a Notice of Borrowing as required under this Agreement and, The representations and warranties contained in Article IV hereof and in the case of any Letter of Credit Advance, the Account Party Security Documents shall have delivered to the Lender an application for the related Letter of Credit, a Joinder Agreement (if the Account Party is not the Company) be true and other related documentation requested by correct on and acceptable to the Lender appropriately completed and duly executed on behalf as of the Account Party thereto.date such Borrowing is made (both before and after such Borrowing is made) as if such representations and warranties were made on and as of such date; (b) the fact that, immediately after such Borrowing, the aggregate outstanding principal amount of the Borrowings will not exceed the aggregate amount of the relevant Commitment or otherwise be in excess of the amount permitted under Section 2.3; (c) the fact that, at the time of, and immediately after, such Borrowing, no No Default or Event of Default shall exist or shall have occurred and be continuingcontinuing on the date such Borrowing is made (whether before or after such Borrowing is made); and (dc) the fact that the representations and warranties If any of the proceeds of such Borrowing will be used by the Company contained to make any loan or other advance of any nature to any Insurance Subsidiary, then, unless the Company shall have requested and received from the Required Banks, in writing, a waiver of such conditions precedent, the Company shall have caused such Insurance Subsidiary to issue to the Company one or more Surplus Notes in an aggregate principal amount not less than the amount of such loan or advance, and the Company shall have delivered to the Agent, in pledge under the Note Pledge Agreement, such Surplus Note(s) endorsed in blank, together with an opinion, rendered by counsel, and in form and substance, satisfactory to the Agent, to the effect that each such instrument is a "Surplus Note" as such term is defined in this Agreement shall be true in all material respects as of the date and that each such Surplus Note constitutes a legal, valid and binding obligation of such BorrowingInsurance Subsidiary, enforceable against such Insurance Subsidiary in accordance with its terms, and with respect to such other matters in connection therewith as the Agent may reasonably request. Each Borrowing hereunder The Company shall be deemed to be have made a representation and warranty by the Company on the date of such Borrowing as to the facts specified Banks at the time of each Borrowing to the effects set forth in subsection clauses (b), (ca) and (db) of this SectionSection 2.6. For purposes of this Section 2.6, the representations and warranties contained in Section 4.5 hereof 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 5.45. l(d).

Further Conditions for Disbursement. The obligation of the Lender each Bank to make any Advance on the occasion of each Borrowing Loan (including without limitation the its first Borrowing) Loan), or any continuation or conversion under Section 2.7, is further subject to the satisfaction of the following conditions precedent: (a) receipt by the Lender of a Notice of Borrowing The representations and warranties contained in Article IV hereof and in any other Loan Document shall be true and correct in all material respects on and as required under this Agreement and, in the case of any Letter of Credit Advance, the Account Party shall have delivered to the Lender an application for the related Letter of Credit, a Joinder Agreement (if the Account Party is not the Company) and other related documentation requested by and acceptable to the Lender appropriately completed and duly executed on behalf of the Account Party thereto.date such Loan is made, continued or converted (both before and after such Loan is made, continued or converted) as if such representations and warranties were made on and as of such date; and (b) No Event of Default and no Default shall exist or shall have occurred and be continuing on the fact thatdate such Loan is made, immediately continued or converted (whether before or after such BorrowingLoan is made, the aggregate outstanding principal amount of the Borrowings will not exceed the aggregate amount of the relevant Commitment continued or otherwise be in excess of the amount permitted under Section 2.3converted); (c) the fact that, at the time of, and immediately afterPrior to any Loan to any Borrowing Subsidiary, such Borrowing, no Default Borrowing Subsidiary shall deliver such corporate or Event of Default organizational documents and authorizing resolutions and legal opinions as reasonably requested by the Agent and such Borrowing Subsidiary and the Borrowers shall have occurred execute all agreements and be continuing; and (d) take such other action reasonably requested by the fact that the representations and warranties of the Company contained in this Agreement shall be true in all material respects as of the date of Agent for such BorrowingBorrowing Subsidiary to become a Borrowing Subsidiary hereunder. Each Borrowing hereunder Borrower shall be deemed to be have made a representation and warranty by the Company on the date of such Borrowing as to the facts specified Banks at the time of the making of, and the continuation or conversion of, each Loan to the effects set forth in subsection clauses (b), (ca) and (db) of this SectionSection 2.6. For purposes of this Section 2.6, the representations and warranties contained in Section 4.5 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 5.45.1(d)(ii) and (iii).