Common use of No Default; Representations and Warranties True and Correct Clause in Contracts

No Default; Representations and Warranties True and Correct. On the Closing Date and also after giving effect to the Borrowing to be made on the Closing Date (i) there shall exist no Default or Event of Default and (ii) all representations and warranties made by the Borrower contained herein shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date of such Credit Event (except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date). The acceptance of the proceeds of the Loans shall constitute a representation and warranty by the Borrower to each of the Lenders that all the applicable conditions specified above are satisfied as of the Closing Date.

Appears in 4 contracts

Samples: Term Loan Credit Agreement (ITC Holdings Corp.), Term Loan Credit Agreement (ITC Holdings Corp.), Term Loan Credit Agreement (ITC Holdings Corp.)

AutoNDA by SimpleDocs

No Default; Representations and Warranties True and Correct. On the Closing Date and also after giving effect to the Borrowing to be made on the Closing Date (i) there shall exist no Default or Event of Default and (ii) all representations and warranties made by the Borrower contained herein shall be true and correct in all material respects (or in all respects if the applicable representation or warranty is qualified by materiality or Material Adverse Effect) with the same effect as though such representations and warranties had been made on and as of the date of such Credit Event Closing Date (except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects (or in all respects if the applicable representation or warranty is qualified by materiality or Material Adverse Effect) as of such earlier date). The acceptance of the proceeds of the Loans shall constitute a representation and warranty by the Borrower to each of the Lenders that all the applicable conditions specified above are satisfied as of the Closing Date.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (ITC Holdings Corp.), Term Loan Credit Agreement (ITC Holdings Corp.)

No Default; Representations and Warranties True and Correct. On the Closing applicable Borrowing Date and also after giving effect to the Borrowing to be made on the Closing such Borrowing Date (i) there shall exist no Default or Event of Default and (ii) all representations and warranties made by the Borrower contained herein (other than, except in the case of the initial Credit Event, Section 7.14 hereof) shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date of such Credit Event (except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date). The acceptance of the proceeds of the Loans shall constitute a representation and warranty by the Borrower to each of the Lenders that all the applicable conditions specified above are satisfied as of the Closing applicable Borrowing Date.

Appears in 1 contract

Samples: Term Loan Credit Agreement (ITC Holdings Corp.)

AutoNDA by SimpleDocs

No Default; Representations and Warranties True and Correct. On the Closing applicable Borrowing Date and also after giving effect to the Borrowing to be made on the Closing such Borrowing Date (i) there shall exist no Default or Event of Default and (ii) all representations and warranties made by the Borrower contained herein (other than, except in the case of the initial Credit Event, Section 7.15 hereof) shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date of such Credit Event (except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date). The acceptance of the proceeds of the Loans shall constitute a representation and warranty by the Borrower to each of the Lenders that all the applicable conditions specified above are satisfied as of the Closing applicable Borrowing Date.

Appears in 1 contract

Samples: Term Loan Credit Agreement (ITC Holdings Corp.)

Time is Money Join Law Insider Premium to draft better contracts faster.