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

Initial and Subsequent Extensions of Credit. The obligation of 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 is subject to the further conditions precedent that, 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: (a) no Default shall have occurred and be continuing; (b) the representations and warranties made by the Company and, with respect to any Subsidiary of the Company established pursuant to Section 9.20, such Subsidiary, in Section 8 hereof, and by each Obligor in each of the other Basic Documents to which it is a party, shall be true and 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); and (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(f) hereof. 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). 24184999

Initial and Subsequent Extensions of Credit. The obligation of any Lender the Lenders to make any Loan (including such Lender's initial Loan) or otherwise extend any credit to the Company Borrowers upon the occasion of each borrowing or other extension of credit hereunder (including on the Restatement Effective Date) is subject to the further conditions precedent that, 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: : (a) no Default shall have occurred and be continuing; continuing (except that this paragraph (a) shall not apply to a default in the payment when due during the applicable grace period of any amount referred to in Section 10(a)(ii) hereof if the amount to be borrowed is to be used simultaneously with such borrowing to cure such default); (b) the representations and warranties made by the Company and, with respect to any Subsidiary of the Company established pursuant to Section 9.20, such Subsidiary, Obligors in Section 8 hereof, and by each Obligor Credit Party in each of the other Basic Loan Documents to which it is a party, shall be true and complete in all material respects 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 Credit Agreement 95 - 90 - is expressly stated to have been made as of a specific date, as of such specific date); and and (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(f) hereof. Each notice of borrowing or request for the issuance of a Letter of Credit by the Company Borrowers hereunder shall constitute a certification by the Company Borrowers to the effect set forth in the preceding sentence (both as of the date of such notice or request and, unless the Company Borrowers otherwise notifies notify the Administrative Agent prior to the date of such borrowing or issuance, as of the date of such borrowing or issuance). 24184999.

Initial and Subsequent Extensions of Credit. The obligation of any Lender the Lenders to make any Loan (including such Lender's initial Loan) or otherwise extend any credit to the Company either Obligor upon the occasion of each borrowing or other extension of credit hereunder (including the initial borrowings and continuation of the Term Loans and the Revolving Credit Loans contemplated to occur on the Effective Date) is subject to the further conditions precedent that, 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: : (a) no Default shall have occurred and be continuing; ; (b) the representations and warranties made by the Company and, with respect to any Subsidiary of the Company established pursuant to Section 9.20, such Subsidiary, each Obligor in Section 8 hereof, hereof and by each Obligor in each of the other Basic Documents Document to which it such Obligor is a party, shall be true and complete in all material respects on and as of the date of the making of such Loan or other extension of credit (and after giving effect thereto) 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); and and (c) to the extent there are Revolving Credit Loans or Swingline Loans outstanding, the aggregate principal amount of the Revolving Credit Loans and Swingline 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(f9.01(g) hereofhereof (or, prior to delivery of the first such certificate, Section 9.01(g) of the Existing Credit Agreement). 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). 24184999.

Initial and Subsequent Extensions of Credit. The obligation of any Lender the Lenders to make any Loan (including such Lender's initial Loan) or otherwise extend any credit to the Company either Obligor upon the occasion of each borrowing or other extension of credit hereunder (and the amendment and Credit Agreement ---------------- restatement of the Original Credit Agreement to be effected hereby) is subject to the further conditions precedent that, both immediately prior to the making of such Loan or other extension of credit (and such amendment and restatement) and also after giving effect thereto and to the intended use thereof: : (a) no Default shall have occurred and be continuing; ; (b) the representations and warranties made by the Company and, with respect to any Subsidiary of the Company established pursuant to Section 9.20, such Subsidiary, each Obligor in Section 8 hereof, hereof and by each Obligor in each of the other Basic Documents Document to which it such Obligor is a party, shall be true and complete in all material respects on and as of the date of the making of such Loan or other extension of credit (and after giving effect thereto) 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); and and (c) to the extent there are Loans outstanding under the Revolving Credit Facility, the aggregate principal amount of the Revolving Credit such 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 7.04(c) of the Original Credit Agreement or Section 9.01(f) hereof. Each notice of borrowing or request for the issuance of a Letter of Credit by the Company a Borrower hereunder shall constitute a certification by the Company such Borrower to the effect set forth in the preceding sentence (both as of the date of such notice or request and, unless the Company such Borrower otherwise notifies the Administrative Agent prior to the date of such borrowing or issuance, as of the date of such borrowing or issuance). 24184999.