Common use of Initial and Subsequent Loans and Letters of Credit Clause in Contracts

Initial and Subsequent Loans and Letters of Credit. The obligation of the Banks to make Loans to the Company upon the occasion of each borrowing hereunder and to issue, renew, extend or reissue Letters of Credit for the account of the Company (including the Initial Funding) is subject to the further conditions precedent that, as of the date of such Loans and after giving effect thereto: (i) no Default shall have occurred and be continuing; (ii) no Material Adverse Effect shall have occurred since the date of the Financial Statements; and (iii) the representations and warranties made by the Company in Section 7 shall be true on and as of the date of the making of such Loans or issuance, renewal, extension or reissuance of a Letter of Credit with the same force and effect as if made on and as of such date and following such new borrowing, unless such representation or warranty was expressly limited to an earlier date (which representation or warranty remains true as to such earlier date) or except as such representations and warranties are modified to give effect to transactions expressly permitted hereby or in the case of Section 7.15 changes of which the Agent has been notified. Each request for a borrowing or issuance, renewal, extension or reissuance 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 and, unless the Company otherwise notifies the Agent prior to the date of and immediately following such borrowing or issuance, renewal, extension or reissuance of a Letter of Credit, as of the date thereof).

Initial and Subsequent Loans and Letters of Credit. The obligation of the Banks Lenders to make Loans to the Company Borrower upon the occasion of each borrowing hereunder and to issue, renew, extend or reissue Letters of Credit for the account of the Company Borrower (including the Initial Funding) and to increase the Borrowing Base in accordance with Section 6.02 is subject to the further conditions precedent that, as of the date of such Loans or Letters of Credit or increase, as the case may be, and after giving effect thereto: (i) no Default shall have occurred and be continuing; (ii) no Material Adverse Effect shall have occurred since the date of the Financial Statementsoccurred; and (iii) the representations and warranties made by the Company Borrower in Section 7 Article VII and by the Borrower or any Restricted Subsidiary in the Security Instruments shall be true on and as of the date of the making of such Loans or issuance, renewal, extension or reissuance of a Letter of Credit or increase of the Borrowing Base, as the case may be, with the same force and effect as if made on and as of such date and following such new borrowing, unless issuance or increase, except to the extent such representation or warranty was representations and warranties are expressly limited to an earlier date or the Majority Lenders may expressly consent in writing to the contrary; and (which representation or warranty remains true as to such earlier dateiv) or except as such representations the aggregate outstanding amount of investments, loans and warranties are modified to give effect to transactions expressly advances permitted hereby or in the case of by Section 7.15 changes of which the Agent has been notified9.03(i) and net dividends, distributions and redemptions permitted by Section 9.04, shall not exceed $7,200,000. Each request for a borrowing or issuance, renewal, extension or reissuance 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 and, unless the Company Borrower otherwise notifies the Agent prior to the date of and immediately following such borrowing or issuance, renewal, extension or reissuance of a Letter of Credit, as of the date thereof).

Initial and Subsequent Loans and Letters of Credit. The obligation of the Banks Lenders to make Loans to the Company Borrower upon the occasion of each borrowing hereunder and to issue, renew, extend or reissue Letters of Credit for the account of the Company Borrower (including the Initial Funding) and to increase the Borrowing Base in accordance with Section 6.02 is subject to the further conditions precedent that, as of the date of such Loans or Letters of Credit or increase, as the case may be, and after giving effect thereto: (i) no Default shall have occurred and be continuing; (ii) no Material Adverse Effect shall have occurred since the date of the Financial Statementsoccurred; and (iii) the representations and warranties made by the Company Borrower in Section 7 Article VII and in the Security Instruments shall be true on and as of the date of the making of such Loans or issuance, renewal, extension or reissuance of a Letter of Credit or increase of the Borrowing Base, as the case may be, with the same force and effect as if made on and as of such date and following such new borrowing, unless issuance or increase, except to the extent such representation or warranty was representations and warranties are expressly limited to an earlier date or the Majority Lenders may expressly consent in writing to the contrary; and (which representation or warranty remains true as to such earlier dateiv) or except as such representations the aggregate outstanding amount of investments, loans and warranties are modified to give effect to transactions expressly advances permitted hereby or in the case of by Section 7.15 changes of which the Agent has been notified9.03(i) and net dividends, distributions and redemptions permitted by Section 9.04, shall not exceed $7,200,000. Each request for a borrowing or issuance, renewal, extension or reissuance 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 and, unless the Company Borrower otherwise notifies the Agent prior to the date of and immediately following such borrowing or issuance, renewal, extension or reissuance of a Letter of Credit, as of the date thereof).

Initial and Subsequent Loans and Letters of Credit. The obligation of the Banks Lenders to make Loans to the Company Borrower upon the occasion of each borrowing hereunder and to issue, renew, extend or reissue Letters of Credit for the account of the Company Borrower (including the Initial Funding) is subject to the further conditions precedent that, as of the date of such Loans or Letters of Credit, as the case may be, and after giving effect thereto: (i) no Default shall have occurred and be continuing; (ii) no Material Adverse Effect shall have occurred since the date of the Financial Statementsoccurred; and (iii) the representations and warranties made by the Company Borrower in Section 7 Article VII and by the Borrower or any Restricted Subsidiary in the Security Instruments shall be true on and as of the date of the making of such Loans or issuance, renewal, extension or reissuance of a Letter of Credit Credit, as the case may be, with the same force and effect as if made on and as of such date and following such new borrowingborrowing or issuance, unless except to the extent such representation or warranty was representations and warranties are expressly limited to an earlier date or the Majority Lenders may expressly consent in writing to the contrary; and (which representation or warranty remains true as to such earlier dateiv) or except as such representations the aggregate outstanding amount of investments, loans and warranties are modified to give effect to transactions expressly advances permitted hereby or in the case of by Section 7.15 changes of which the Agent has been notified9.03(i) and net dividends, distributions and redemptions permitted by Section 9.04, shall not exceed $1,000,000.00. Each request for a borrowing or issuance, renewal, extension or reissuance 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 and, unless the Company Borrower otherwise notifies the Agent prior to the date of and immediately following such borrowing or issuance, renewal, extension or reissuance of a Letter of Credit, as of the date thereof).

Initial and Subsequent Loans and Letters of Credit. The obligation of the Banks Lenders to make Loans to the Company Borrowers upon the occasion of each borrowing hereunder and to issue, renew, extend or reissue Letters of Credit for the account of the Company Borrowers (including the Initial Funding) is subject to the further conditions precedent that, as of the date of such Loans and after giving effect thereto: (i) no Default shall have occurred and be continuing; (ii) no Material Adverse Effect shall have occurred since the date of the Financial Statementsand be continuing; and (iii) the representations and warranties made by the Company Obligors in Section 7 Article VII and in the Security Instruments shall be true on and as of the date of the making of such Loans or issuance, renewal, extension or reissuance of a Letter of Credit with the same force and effect as if made on and as of such date and following such new borrowing, unless except to the extent such representation or warranty was representations and warranties are expressly limited to an earlier date (which representation or warranty remains true as the Majority Lenders may expressly consent in writing to such earlier date) or except as such representations and warranties are modified to give effect to transactions expressly permitted hereby or in the case of Section 7.15 changes of which the Agent has been notifiedcontrary. Each request for a borrowing or issuance, renewal, extension or reissuance 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 and a representation by the Borrowers that such borrowing or issuance, renewal, extension or reissuance of a Letter of Credit is permitted to be incurred under the Indenture (both as of the date of such notice and, unless the Company Borrowers otherwise notifies notify the Agent Agent, prior to the date of and immediately following such borrowing or issuance, renewal, extension or reissuance of a Letter of Credit, Credit as of the date thereof).

Initial and Subsequent Loans and Letters of Credit. The obligation of the Banks Lenders to make Loans to the Company Borrower upon the occasion of each borrowing hereunder and to issue, renew, extend or reissue Letters of Credit for the account of the Company Borrower (including the Initial Funding) and to increase the Borrowing Base in accordance with Section 6.02 is subject to the further conditions precedent that, as of the date of such Loans or Letters of Credit or increase, as the case may be, and after giving effect thereto: (i) no Default shall have occurred and be continuing; (ii) no Material Adverse Effect shall have occurred since the date of the Financial Statementsoccurred; and (iii) the representations and warranties made by the Company Borrower in Section 7 Article VII and in the Security Instruments shall be true on and as of the date of the making of such Loans or issuance, renewal, extension or reissuance of a Letter of Credit or increase of the Borrowing Base, as the case may be, with the same force and effect as if made on and as of such date and following such new borrowing, unless issuance or increase, except to the extent such representation or warranty was representations and warranties are expressly limited to an earlier date (which representation or warranty remains true as the Majority Lenders may expressly consent in writing to such earlier date) or except as such representations and warranties are modified to give effect to transactions expressly permitted hereby or in the case of Section 7.15 changes of which the Agent has been notifiedcontrary. Each request for a borrowing or issuance, renewal, extension or reissuance 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 and, unless the Company Borrower otherwise notifies the Agent prior to the date of and immediately following such borrowing or issuance, renewal, extension or reissuance of a Letter of Credit, as of the date thereof).

Initial and Subsequent Loans and Letters of Credit. The obligation of the Banks Lenders to make Loans to the Company Borrower upon the occasion of each borrowing hereunder (including the Initial Funding) and to issue, renew, extend or reissue Letters of Credit for the account of the Company (including the Initial Funding) Borrower is subject to the further conditions precedent that, as of the date of such Loans or such issuance, renewal, extension or reissuance and after giving effect thereto: (ia) no Default shall have occurred and be continuing; (iib) no Material Adverse Effect shall have occurred since the date of the Financial Statementsoccurred; and (iiic) the representations and warranties made by the Company Borrower and the Guarantors in Section 7 Article VII and in the Security Instruments shall be true on and as of the date of the making of such Loans or issuance, renewal, extension or reissuance of a Letter of Credit with the same force and effect as if made on and as of such date and following such new borrowing, unless except to the extent such representation or warranty was representations and warranties are expressly limited to an earlier date date; and (which representation d) the making such Loan or warranty remains true as to such earlier date) extension of credit would not conflict with, or except as such representations and warranties are modified to give effect to transactions expressly permitted hereby or in the case of Section 7.15 changes of which the Agent has been notifiedcause any Lender to, exceed any applicable Governmental Requirements. Each request for a borrowing or issuance, renewal, extension or reissuance 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 and, unless the Company Borrower otherwise notifies the Administrative Agent prior to the date of and immediately following such borrowing or issuance, renewal, extension or reissuance of a Letter of Credit, Credit as of the date thereof).