Further Conditions to the Loans. Lender shall not be obligated to fund any Loan (including the initial Loan(s)), if, as of the date thereof: (a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect as of such date, except to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct as of such earlier date; (b) any event or circumstance, which has had or reasonably could be expected to have a Material Adverse Effect, shall have occurred since the Closing Date; (c) any Default shall have occurred and be continuing or would result after giving effect to such Loan; or (d) after giving effect to such Loan, the Revolving Credit Loan would exceed the Borrowing Availability. The request and acceptance by a Borrower of the proceeds of any Loan shall be deemed to constitute, as of the date of such request and the date of such acceptance: (i) a representation and warranty by Borrowers that the conditions in this Section 2.2 have been satisfied; and (ii) a restatement by Borrowers of each of the representations and warranties made by it in each Loan Document and a reaffirmation by Borrowers of the granting and continuance of Xxxxxx’s Liens pursuant to the Loan Documents.
Appears in 3 contracts
Samples: Loan Agreement (Dirtt Environmental Solutions LTD), Loan Agreement (Dirtt Environmental Solutions LTD), Loan Agreement (Dirtt Environmental Solutions LTD)
Further Conditions to the Loans. Lender shall not be obligated to fund any Revolving Credit Loan (including the initial Loan(s)Revolving Credit Loans), if, as of the date thereof:
(a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect in any material respect as of such date, except (i) to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct in all material respects as of such earlier date;date and (ii) to the extent that any such representation or warranty (including the representations and warranties referred to in clause (i)) is qualified by materiality, such representation and warranty shall be true and correct in all respects; or
(b) any event or circumstance, which circumstance that has had or reasonably could be expected to have a Material Adverse Effect, Effect shall have occurred since the Closing Date;; or
(c) any Default shall have occurred and be continuing or would result after giving effect to such Revolving Credit Loan; or
(d) after giving effect to such Revolving Credit Loan, the Revolving Credit Loan would exceed the Borrowing Availability. The request and acceptance by a Borrower of the proceeds of any Revolving Credit Loan shall be deemed to constitute, as of the date of such request and the date of such acceptance: , (i) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; satisfied and (ii) a restatement by Borrowers Borrower of each of the representations and warranties made by it in each any Loan Document and a reaffirmation by Borrowers Borrower of the granting and continuance of XxxxxxLender’s Liens pursuant to the Loan Documents.
Appears in 3 contracts
Samples: Loan and Security Agreement (FVA Ventures, Inc.), Loan and Security Agreement (FVA Ventures, Inc.), Loan and Security Agreement (FVA Ventures, Inc.)
Further Conditions to the Loans. Lender shall not be obligated to fund any Loan (including the initial Loan(s)Loans), if, as of the date thereof:
(a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect as of such date, except to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct as of such earlier date;; or
(b) any event or circumstance, circumstance which has had or reasonably could be expected to have a Material Adverse Effect, Effect shall have occurred since the Closing Date;; or
(c) any Default shall have occurred and be continuing or would result after giving effect to such Loan; or
(d) after giving effect to such Loan, Loan the Revolving Credit Loan would exceed the Borrowing Availability; or
(e) any action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or proposed before any Governmental Authority to enjoin, restrain or prohibit, or to obtain damages in respect of, or which is related to or arises out of, this Agreement or any other Loan Document or the consummation of any transaction contemplated hereby or thereby and which, in Lender's sole judgment, would make it inadvisable to consummate any transaction contemplated by this Agreement or any other Loan Document. The request and acceptance by a Borrower of the proceeds of any Loan shall be deemed to constitute, as of the date of such request and the date of such acceptance: , (i) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; satisfied and (ii) a restatement by Borrowers of each of the representations and warranties made by it in each Loan Document and a reaffirmation by Borrowers Borrower of the granting and continuance of Xxxxxx’s Lender's Liens pursuant to the Loan Documents.
Appears in 3 contracts
Samples: Loan and Security Agreement (U S Trucking Inc), Loan and Security Agreement (Heartland Technology Inc), Loan and Security Agreement (Conmat Technologies Inc)
Further Conditions to the Loans. Lender shall not be obligated to fund any Loan (including the initial Loan(s)Loans), if, as of the date thereof:
(a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect as of such date, except to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct as of such earlier date;
(b) any event or circumstance, which has had or reasonably could be expected to have a Material Adverse Effect, shall have occurred since the Closing Datedate of the most recent Financial Statement delivered pursuant to Section 4.1;
(c) any Default shall have occurred and be continuing or would result after giving effect to such Loan; or;
(d) Lender shall have received a Borrowing Base Certificate in form an substance reasonably satisfactory to the Lender; and
(e) after giving effect to such Loan, the Revolving Credit Loan would exceed the Borrowing AvailabilityAvailability applicable to the Revolving Credit Loan, or the Term Loan would exceed the Borrowing Availability applicable to the Term Loan. The request and acceptance by a Borrower of the proceeds of any Loan shall be deemed to constitute, as of the date of such request and the date of such acceptance: (i) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; and (ii) a restatement by Borrowers Borrower of each of the representations and warranties made by it in each Loan Document and a reaffirmation by Borrowers Borrower of the granting and continuance of XxxxxxLender’s Liens pursuant to the Loan Documents.
Appears in 1 contract
Further Conditions to the Loans. Lender shall not be obligated to fund any Loan (including the initial Loan(s)Loans), if, as of the date thereof:
(a) Bxxxxxxx has failed to deliver a Notice of Borrowing and, with respect to a Contract Revolver Advance, all invoices and other documentation associated with the proposed Contract Revolver Advance, together with suitable documentation and information evidencing how the proceeds of the Contract Revolver Loan will support Borrower’s Green Loan Objectives pursuant to Section 1.3(b);
(b) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect as of such date, except to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct as of such earlier date;
(bc) any event or circumstance, which has had or reasonably could be expected to have a Material Adverse Effect, shall have occurred since the Closing Date;
(cd) any Default shall have occurred and be continuing or would result after giving effect to such Loan; or
(de) after giving effect to such Loan, the Revolving Credit Loan would exceed the Operating Loan Borrowing Availability or the Contract Revolver Loan would exceed the Contract Revolver Borrowing Availability. The request and acceptance by a Borrower of the proceeds of any Loan shall be deemed to constitute, as of the date of such request and the date of such acceptance: (i) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; and (ii) a restatement by Borrowers Borrower of each of the representations and warranties made by it in each Loan Document and a reaffirmation by Borrowers Borrower of the granting and continuance of XxxxxxLxxxxx’s Liens pursuant to the Loan Documents.
Appears in 1 contract
Samples: Loan Agreement (Vicinity Motor Corp)
Further Conditions to the Loans. Lender shall not be obligated to fund any Loan (including the initial Loan(s))Loan, if, as of the date thereof:
(a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect as of such date, except to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct as of such earlier date;; or
(b) any event or circumstance, circumstance which has had or reasonably could be expected to have a Material Adverse Effect, Effect shall have occurred since the Closing Date;; or
(c) any Default shall have occurred and be continuing or would result after giving effect to such Loan; or
(d) after giving effect to such Loan, Loan the Revolving Credit Loan would exceed exceeds the Borrowing Availability; or
(e) any action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or proposed before any Governmental Authority to enjoin, restrain or prohibit, or to obtain damages in respect of, or which is related to or arises out of, this Agreement or any other Loan Document or the consummation of any transaction contemplated hereby or thereby and which, in Lender's sole judgment, would make it inadvisable to consummate any transaction contemplated by this Agreement or any other Loan Document. The request and acceptance by a Borrower of the proceeds of any Loan shall be deemed to constitute, as of the date of such request and the date of such acceptance: , (i) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; satisfied and (ii) a restatement by Borrowers of each of the representations and warranties made by it in each Loan Document and a reaffirmation by Borrowers Borrower of the granting and continuance of Xxxxxx’s Lender's Liens pursuant to the Loan Documents.
Appears in 1 contract
Samples: Loan and Security Agreement (Sentry Technology Corp)
Further Conditions to the Loans. Lender shall not be obligated to fund any Loan (including the initial Loan(s))Loans) , if, as of the date thereof:
(a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect as of such date, except to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct as of such earlier date;
; or (b) any event or circumstance, circumstance which has had or reasonably could be expected to have a Material Adverse Effect, Effect shall have occurred since the Closing Date;
; or (c) any Default shall have occurred and be continuing or would result after giving effect to such Loan; or
or (d) after giving effect to such Loan, the Revolving Credit Loan would exceed the Borrowing Availability. The request and acceptance by a Borrower of the proceeds of any Loan shall be deemed to constitute, as of the date of such request and the date of such acceptance: , (i) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; satisfied and (ii) a restatement by Borrowers Borrower of each of the representations and warranties made by it in each any Loan Document (except representations and warranties which relate to a specific prior date shall be true and correct in all material respects as of the date such representations and warranties were initially made) and a reaffirmation by Borrowers Borrower of the granting and continuance of Xxxxxx’s Lender's Liens pursuant to the Loan Documents.
Appears in 1 contract
Further Conditions to the Loans. Lender It shall not be obligated a further condition to fund the funding of any Loan (including or the initial Loan(s))incurrence of any Letter of Credit Obligation that the following statements be true on the date of each such funding, ifadvance or incurrence, as of the date thereofcase may be:
(a) any representation or warranty by any Credit Party contained herein or in any all of the representations and warranties of Borrower under this Agreement and the other Loan Documents shall be untrue or incorrect as of true and correct at such date, except to the extent that any such representation or warranty is expressly stated to representations and warranties relate to a specific an earlier date, in which case, such representation both before and warranty shall be true and correct as after giving effect to the funding of such earlier dateLoan or the issuance of such Letter of Credit, and Bank shall have received, if it so elects, a certification to that effect signed by an Authorized Signatory;
(b) any event or circumstanceAfter giving effect to the requested Revolving Loan, which has had or reasonably could be expected to have a Material Adverse Effect, an Overadvance shall have occurred since the Closing Datenot occurred;
(c) any Default no event shall have occurred and be continuing continuing, or would result after giving effect to such Loanfrom the funding, advance or incurrence of any Loan or Letter of Credit Obligation, which constitutes or would constitute a Default or an Event of Default or result in a Material Adverse Effect; orand
(d) after giving effect to such LoanBank shall have received all other reports, certificates, statements or opinions in connection with the Revolving funding or incurrence of any Loan or Letter of Credit Loan would exceed the Borrowing AvailabilityObligation as Bank may reasonably request in accordance with this Agreement. The request and acceptance by a Borrower of the proceeds of the Loans and the incurrence of any Loan Letter of Credit Obligations by Bank shall be deemed to constitute, as of the date of such request and the date Loan or incurrence of such acceptance: Letter of Credit Obligations, (i1) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; satisfied and (ii2) a restatement confirmation by Borrowers of each of the representations and warranties made by it in each Loan Document and a reaffirmation by Borrowers Borrower of the granting and continuance of XxxxxxBank’s Liens pursuant to the Loan Collateral Documents.
Appears in 1 contract
Further Conditions to the Loans. Lender It shall not be obligated a further condition to fund ------------------------------- the funding or advance of any Loan (including or the initial Loan(s))incurrence of any Letter of Credit Obligation that the following statements be true on the date of each such funding, ifadvance or incurrence, as of the date thereofcase may be:
(a) any representation or warranty by any Credit Party contained herein or in any all of the representations and warranties of Borrower under this Agreement and the other Loan Documents shall be untrue or incorrect true and correct as of such date, except to the extent that any such representation or warranty is expressly stated relates to relate to a specific an earlier date, in which case, such representation both before and warranty shall be true and correct as after giving effect to the funding of such earlier dateLoan or the incurrence of such Letter of Credit Obligation, and Bank shall have received, if it so elects, a certification to that effect signed by an Authorized Signatory;
(b) Bank shall determine that, after giving effect to any event requested Revolving Loan or circumstancethe incurrence of such Letter of Credit Obligation, which has had or reasonably could be expected to have a Material Adverse Effect, shall have occurred since the Closing Datean Overadvance will not occur;
(c) any Default no event shall have occurred and be continuing continuing, or would result after giving effect to such Loanfrom the funding, advance, or incurrence of any Loan or Letter of Credit Obligation, that constitutes or would constitute a Default or an Event of Default or result in a Material Adverse Effect; orand
(d) after giving effect to such LoanBank shall have received all other reports, certificates, statements, or opinions in connection with the Revolving funding or incurrence of any Loan or Letter of Credit Loan would exceed the Borrowing AvailabilityObligation as Bank may reasonably request. The request and acceptance by a Borrower of the proceeds of the Loans and the incurrence of any Loan Letter of Credit Obligations by Bank shall be deemed to constitute, as of the date of such request and the date Loan or incurrence of such acceptance: Letter of Credit Obligations, (i) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; satisfied and (ii) a restatement confirmation by Borrowers of each of the representations and warranties made by it in each Loan Document and a reaffirmation by Borrowers ----------- Borrower of the granting and continuance of Xxxxxx’s Bank's Liens pursuant to the Loan Collateral Documents.
Appears in 1 contract
Further Conditions to the Loans. Lender shall not be obligated to ------------------------------- fund any Loan (including the initial Loan(s))Loan, if, as of the date thereof:
(a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect as of such date, except to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct as of such earlier date;; or
(b) any event or circumstance, circumstance which has had or reasonably could be expected to have a Material Adverse Effect, Effect shall have occurred since the Closing Date;; or
(c) any Default other than the Existing Events of Default shall have occurred and be continuing or would result after giving effect to such Loan; or
(d) after giving effect to such Loan, Loan the Revolving Credit Loan attributable to any Borrower would exceed the Borrowing AvailabilityAvailability of such Borrower.
(e) any action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or proposed before any Governmental Authority to enjoin, restrain or prohibit, or to obtain damages in respect of, or which is related to or arises out of, this Agreement, any other Loan Document or any Acquisition Document or the consummation of any transaction contemplated hereby or thereby and which, in Lender's sole judgment, would make it inadvisable to consummate any transaction contemplated by this Agreement, any other Loan Document or any Acquisition Document. The request and acceptance by a Borrower Leading Borrower, as agent for each Borrower, of the proceeds of any Loan Loan, and the request by Leading Borrower, as agent for each Borrower, for the incurrence by Lender of any Letter of Credit Obligations, as the case may be, shall be deemed to constitute, as of the date of such request and the date of such acceptance: , (i) a representation and warranty by Borrowers each Borrower that the conditions in this Section 2.2 have been satisfied; satisfied and (ii) a restatement by Borrowers each Borrower of each of the representations and warranties made by it such Borrower in each any Loan Document and a reaffirmation by Borrowers each Borrower of the granting and continuance of Xxxxxx’s Lender's Liens pursuant to the Loan Documents.
Appears in 1 contract
Samples: Loan and Security Agreement (Advanced Nutraceuticals Inc/Tx)
Further Conditions to the Loans. Lender shall not be obligated to fund any Loan (including the initial Loan(s)Loans), if, as of the date thereof:
(a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect in any material respect as of such date, except to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct as of such earlier date;; or
(b) any event or circumstance, which circumstance that has had or reasonably could be expected to have a Material Adverse Effect, Effect shall have occurred since the Closing Date;; or
(c) any Default shall have occurred and be continuing or would result after giving effect to such Loan; or
(d) after giving effect to such Loanany Revolving Credit Advance, the Revolving Credit Loan would exceed the Borrowing Availability, regardless of the three (3) Business Day period provided for payment of an Overadvance pursuant to Section 1.2(b). The request and acceptance by a Borrower of the proceeds of any Loan shall be deemed to constitute, as of the date of such request and the date of such acceptance: , (i) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; satisfied and (ii) a restatement by Borrowers Borrower of each of the representations and warranties made by it in each any Loan Document (except to the extent that any such representation or warranty relates to a specific earlier date, in which case, such representation and warranty shall be true and correct as of such earlier date) and a reaffirmation by Borrowers Borrower of the granting and continuance of XxxxxxLender’s Liens pursuant to the Loan Documents.
Appears in 1 contract
Samples: Loan and Security Agreement (Cover All Technologies Inc)
Further Conditions to the Loans. Lender shall not be obligated to fund any Loan (including the initial Loan(s))Loans) , if, as of the date thereof:
(a) any representation or warranty by any Credit Party contained herein or in any of the other Loan Documents shall be untrue or incorrect in any material respect as of such date, except to the extent that any such representation or warranty is expressly stated to relate to a specific earlier date, in which case, such representation and warranty shall be true and correct in all material respects as of such earlier date;; or
(b) any event or circumstance, circumstance which has had or reasonably could be expected to have a Material Adverse Effect, Effect shall have occurred since the Closing Date;; or
(c) any Default shall have occurred and be continuing or would result after giving effect to such Loan; or
(d) after giving effect to such Loan, Loan the Revolving Credit Loan would exceed the Borrowing Availability; or
(e) any action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or proposed before any Governmental Authority to enjoin, restrain or prohibit, or to obtain damages in respect of, or which is related to or arises out of, this Agreement or any other Loan Document or the consummation of any transaction contemplated hereby or thereby and which, in Lender's sole and reasonable judgment, would make it inadvisable to consummate any transaction contemplated by this Agreement or any other Loan Document. The request and acceptance by a Borrower of the proceeds of any Loan shall be deemed to constitute, as of the date of such request and the date of such acceptance: , (i) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; satisfied and (ii) a restatement by Borrowers of each of the representations and warranties made by it in each Loan Document and a reaffirmation by Borrowers Borrower of the granting and continuance of Xxxxxx’s Lender's Liens pursuant to the Loan Documents.
Appears in 1 contract
Samples: Loan and Security Agreement (Global Pharmaceutical Corp \De\)
Further Conditions to the Loans. Lender It shall not be obligated a further condition to fund the funding or advance of any Loan (including or the initial Loan(s))incurrence of any Letter of Credit Obligation that the following statements be true on the date of each such funding, ifadvance or incurrence, as of the date thereofcase may be:
(a) any representation or warranty by any Credit Party contained herein or in any all of the representations and warranties of Borrower under this Agreement and the other Loan Documents shall be untrue or incorrect true and correct as of such date, except to the extent that any such representation or warranty is expressly stated relates to relate to a specific an earlier date, in which case, such representation both before and warranty shall be true and correct as after giving effect to the funding of such earlier dateLoan or the incurrence of such Letter of Credit Obligation, and Bank shall have received, if it so elects, a certification to that effect signed by an Authorized Signatory;
(b) Bank shall determine that, after giving effect to any event requested Revolving Loan or circumstancethe incurrence of such Letter of Credit Obligation, which has had or reasonably could be expected to have a Material Adverse Effect, shall have occurred since the Closing Datean Overadvance will not occur;
(c) any Default no event shall have occurred and be continuing continuing, or would result after giving effect to such Loanfrom the funding, advance, or incurrence of any Loan or Letter of Credit Obligation, that constitutes or would constitute a Default or an Event of Default or result in a Material Adverse Effect; orand
(d) after giving effect to such LoanBank shall have received all other reports, certificates, statements, or opinions in connection with the Revolving funding or incurrence of any Loan or Letter of Credit Loan would exceed the Borrowing AvailabilityObligation as Bank may reasonably request. The request and acceptance by a Borrower of the proceeds of the Loans and the incurrence of any Loan Letter of Credit Obligations by Bank shall be deemed to constitute, as of the date of such request and the date Loan or incurrence of such acceptance: Letter of Credit Obligations, (i) a representation and warranty by Borrowers Borrower that the conditions in this Section 2.2 have been satisfied; satisfied and (ii) a restatement confirmation by Borrowers of each of the representations and warranties made by it in each Loan Document and a reaffirmation by Borrowers Borrower of the granting and continuance of Xxxxxx’s Bank's Liens pursuant to the Loan Collateral Documents.
Appears in 1 contract