Common use of Representations and Warranties; Events of Default and Potential Defaults Clause in Contracts

Representations and Warranties; Events of Default and Potential Defaults. The representations and warranties contained in Article III hereof shall be true on and as of the date of each Letter of Credit issued hereunder with the same effect as though made on and as of each such date, and on the date of each Letter of Credit issued hereunder no Event of Default and no Potential Default shall have occurred and be continuing or exist or shall occur or exist after giving effect to the Letter of Credit to be issued on such date. Failure of the Agent to receive notice from the applicable Account Party to the contrary before any Letter of Credit is issued hereunder shall constitute a representation and warranty that: (i) the representations and warranties contained in Article III hereof are true and correct on and as of the date of such Letter of Credit with the same effect as though made on and as of such date and (ii) on the date of such Letter of Credit no Event of Default or Potential Default has occurred and is continuing or exists or will occur or exist after giving effect to such Letter of Credit.

Appears in 3 contracts

Samples: Facility and Reimbursement Agreement (Xl Capital LTD), Xl Capital LTD, Xl Capital LTD

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Representations and Warranties; Events of Default and Potential Defaults. The representations and warranties contained in Article III hereof shall be true on and as of the date of each Letter of Credit issued Loan hereunder with the same effect as though made on and as of each such date, and on the date of each Letter of Credit issued Loan hereunder no Event of Default and no Potential Default shall have occurred and be continuing or exist or shall occur or exist after giving effect to the Letter of Credit Loans to be issued made on such date. Failure of the Agent to receive notice from the applicable Account Party Borrower to the contrary before any Letter of Credit Loan is issued made or deemed made hereunder shall constitute a representation and warranty that: (i) the representations and warranties contained in Article III hereof are true and correct on and as of the date of such Letter of Credit Loan with the same effect as though made on and as of such date and (ii) on the date of such Letter of Credit Loan no Event of Default or Potential Default has occurred and is continuing or exists or will occur or exist after giving effect to such Letter of CreditLoan.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Exel LTD), Term Revolving Credit Agreement (Exel LTD)

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Representations and Warranties; Events of Default and Potential Defaults. The representations and warranties contained in Article III hereof shall be true on and as of the date of each Letter of Credit issued Loan hereunder with the same effect as though made on and as of each such date, and on the date of each Letter of Credit issued Loan hereunder no Event of Default and no Potential Default shall have occurred and be continuing or exist or shall occur or exist after giving effect to the Letter of Credit Loans to be issued made on such date. Failure of the Administrative Agent to receive notice from the applicable Account Party Borrower to the contrary before any Letter of Credit Loan is issued made or deemed made hereunder shall constitute a representation and warranty that: (i) the representations and warranties contained in Article III hereof are true and correct on and as of the date of such Letter of Credit Loan with the same effect as though made on and as of such date and (ii) on the date of such Letter of Credit Loan no Event of Default or Potential Default has occurred and is continuing or exists or will occur or exist after giving effect to such Letter of CreditLoan.

Appears in 1 contract

Samples: Term Revolving Credit Agreement (Xl Capital LTD)

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