Common use of Initial and Subsequent Extensions of Credit Clause in Contracts

Initial and Subsequent Extensions of Credit. The obligation of the Lenders to make any Loan or otherwise extend any credit to the Company upon the occasion of each borrowing or other extension of credit hereunder (including the initial borrowing) is subject to the further conditions precedent that: (a) Both immediately prior to the making of such Loan or other extension of credit and also after giving effect thereto and to the intended use thereof: (i) no Default shall have occurred and be continuing; (ii) the representations and warranties made by the Company in Section 7 hereof, and in each of the other Basic Documents, shall be true and correct on and as of the date of the making of such Loan or other extension of credit with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date). Each notice of borrowing or request for the issuance of a Letter of Credit by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice or request and, unless the Company otherwise notifies the Administrative Agent prior to the date of such borrowing or issuance, as of the date of such borrowing or issuance); and (b) The Administrative Agent shall have received a certificate of a senior financial officer of the Company setting forth in reasonable detail the computations necessary to demonstrate that both immediately prior to the making of such Loan or other extension of credit and immediately after giving effect thereto, the Company is or will be in compliance with Section 1010 of the Senior Subordinated Indentures.

Initial and Subsequent Extensions of Credit. The obligation of ------------------------------------------- the Lenders to make any Loan or otherwise extend to issue any credit to the Company Letter of Credit hereunder upon the occasion of each borrowing or other extension issuance of credit a Letter of Credit hereunder (including the initial borrowing) is subject to the further conditions precedent that: (a) Both , both immediately prior to the making of such Loan or other extension the issuance of credit such Letter of Credit and also after giving effect thereto and to the intended use thereof: : (ia) no Default shall have occurred and be continuing; . (iib) the representations and warranties made by the Borrower and the Company in Section 7 8 hereof, and by each Obligor in each of the other Basic DocumentsLoan Documents to which it is a party, shall be true and correct complete on and as of the date of the making of such Loan or other extension of credit with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date). Each notice of borrowing or request for the issuance of a Letter of Credit by the Company Borrower hereunder shall constitute a certification by the Company Borrower to the effect set forth in the preceding sentence (both as of the date of such notice or request and, unless the Company Borrower otherwise notifies the Administrative Agent prior to the date of such borrowing or issuance, as of the date of such borrowing or issuance); and (b) The Administrative Agent shall have received a certificate of a senior financial officer of the Company setting forth in reasonable detail the computations necessary to demonstrate that both immediately prior to the making of such Loan or other extension of credit and immediately after giving effect thereto, the Company is or will be in compliance with Section 1010 of the Senior Subordinated Indentures.

Initial and Subsequent Extensions of Credit. The obligation of the Lenders to make any Loan or otherwise extend any credit to the Company upon the occasion of each borrowing or other extension of credit hereunder (including the initial borrowing) is subject to the further conditions precedent that: (a) Both immediately prior to the making of such Loan or other extension of credit and also after giving effect thereto and to the intended use thereof: (i) no Default shall have occurred and be continuing; (ii) the representations and warranties made by the Company in Section 7 hereof, and in each of the other Basic Documents, Credit Agreement 58 - 54 - shall be true and correct on and as of the date of the making of such Loan or other extension of credit with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date). Each notice of borrowing or request for the issuance of a Letter of Credit by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice or request and, unless the Company otherwise notifies the Administrative Agent prior to the date of such borrowing or issuance, as of the date of such borrowing or issuance); and (b) The Administrative Agent shall have received a certificate of a senior financial officer of the Company setting forth in reasonable detail the computations necessary to demonstrate that both immediately prior to the making of such Loan or other extension of credit and immediately after giving effect thereto, the Company is or will be in compliance with (i) Section 1010 of the Senior Indenture, (ii) Section 1010 of the Senior Subordinated IndenturesIndenture, (iii) if the Loan to be made is a Series A Loan or the extension of credit is to be a Letter of Credit, Section 1014 of the Senior Indenture and (iv) the Borrowing Base as at the end of the quarterly fiscal period of the Company ending on or most recently ended prior to the date of such extension of credit.

Initial and Subsequent Extensions of Credit. The obligation of the Lenders any Lender to make any Loan (including such Lender's initial Loan) or otherwise extend any credit to the Company upon the occasion of each borrowing or other extension of credit hereunder (including the initial borrowing) is subject to the further conditions precedent that: (a) Both , both immediately prior to the making of such Loan or other extension of credit and also after giving effect thereto and to the intended use thereof: (ia) no Default shall have occurred and be continuing; (iib) the representations and warranties made by the Company in Section 7 8 hereof, and by each Obligor in each of the other Basic DocumentsDocuments to which it is a party, shall be true and correct complete on and as of the date of the making of such Loan or other extension of credit with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (c) the aggregate principal amount of the Revolving Credit Loans together with the aggregate amount of all Letter of Credit Liabilities shall not exceed the Borrowing Base reflected on the most recent Borrowing Base Certificate delivered pursuant to Section 9.01(c) hereof; and (d) no event has occurred that could have a Material Adverse Effect and no event has occurred and is continuing that could be reasonably expected to have a material adverse effect on the markets or industries in which the Obligors operate. Each notice of borrowing or request for the issuance of a Letter of Credit by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice or request and, unless the Company otherwise notifies the Administrative Agent prior to the date of such borrowing or issuance, as of the date of such borrowing or issuance); and (b) The Administrative Agent shall have received a certificate of a senior financial officer of the Company setting forth in reasonable detail the computations necessary to demonstrate that both immediately prior to the making of such Loan or other extension of credit and immediately after giving effect thereto, the Company is or will be in compliance with Section 1010 of the Senior Subordinated Indentures.