Initial and Subsequent Loans. The making of each Loan to the Borrower (including the initial Loan) on any Business Day is subject to the following further conditions precedent, both immediately prior to the making of such Loan and also after giving effect thereto and to the intended use thereof:
(a) no Default or Event of Default shall have occurred and be continuing;
(b) both immediately prior to the making of such Loan and also after giving effect thereto and to the intended use thereof, the representations and warranties made by the Borrower in Section 6 hereof, and in each of the other Loan Documents, shall be true and complete on and as of the date of the making of such Loan in all material respects (in the case of the representations and warranties in Section 6.10 and Schedule 1, solely with respect to Mortgage Loans included in the Borrowing Base) 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). The Lender shall have received an officer's certificate signed by a Responsible Officer of Borrower certifying as to the truth and accuracy of the above, which certificate shall specifically include a statement that the Borrower is in compliance with all governmental licenses and authorizations and is qualified to do business and in good standing in all required jurisdictions.
(c) the aggregate outstanding principal amount of the Loans shall not exceed the Borrowing Base;
(d) subject to the Lender's right to perform one or more Due Diligence Reviews pursuant to Section 11.15 hereof, the Lender shall have completed its due diligence review of the Mortgage Loan Documents for each Loan and such other documents, records, agreements, instruments, mortgaged properties or information relating to such Loans as the Lender in its sole good-faith discretion deems appropriate to review and such review shall be satisfactory to the Lender in its sole good-faith discretion;
(e) the Lender shall have received from the Custodian a Trust Receipt in respect of Eligible Mortgage Loans to be pledged hereunder on such Business Day and a Mortgage Loan Summary, in each case dated such Business Day and duly completed;
(f) none of the following shall have occurred and/or be continuing:
(i) a catastrophic event or events shall have occurred resulting in the effective absence of a "repo market" or comparable "lending market" for financing debt obligations secured by mor...
Initial and Subsequent Loans. The obligation of each Lender to make any Loan to be made by it hereunder, and the obligation of any Issuing Bank to issue any Letter of Credit hereunder, is subject to the conditions precedent that, as of the date of such Loan or such issuance, and before and after giving effect thereto:
(1) no Default shall have occurred and be continuing; and
(2) the representations and warranties made by each of the Borrowers and the other Obligors in each Basic Document to which it is a party shall be true in all material respects (except for those representations and warranties qualified by materiality, which shall be true in all respects) on and as of the date of the making of such Loan or such issuance, with the same force and effect as if made on and as of such date (except to the extent such representations and warranties relate to an earlier date, in which event they shall be true in all material respects (except for those representations and warranties qualified by materiality, which shall be true in all respects) on and as of such earlier date); provided that the representations and warranties set forth in Section 8.10 hereof need be true only as of the A&R Closing Date. Each notice of borrowing by a Borrower hereunder shall constitute a certification by such Borrower to the effect set forth in the preceding sentence (both as of the date of such notice and, unless any of the Borrowers otherwise notifies the Administrative Agent prior to the date of such borrowing or issuance, as of the date of such borrowing or issuance).
Initial and Subsequent Loans. The making of each Loan to the Borrowers (including the initial Loan) on any Business Day is subject to the satisfaction of the following further conditions precedent, both immediately prior to the making of such Loan and also after giving effect thereto and to the intended use thereof:
Initial and Subsequent Loans. The obligation of the Lenders to make Loans to any Obligor upon the occasion of each Borrowing hereunder (including the Initial Funding) is subject to the further conditions precedent that, as of the date of such Borrowing and after giving effect thereto: (i) no Default shall have occurred and be continuing and (ii) the representations and warranties made by the Company in Article VII and by each Designated Subsidiary in its respective Notice of Designation of a Designated Subsidiary shall be true on and as of the date of the making of such Borrowing with the same force and effect as if made on and as of such date and following such new Borrowing, except to the extent such representations and warranties are expressly limited to an earlier date or the Majority Lenders have expressly consented in writing to the contrary. Each request for a borrowing 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 Administrative Agent prior to the date of and immediately following such Borrowing as of the date thereof).
Initial and Subsequent Loans. The Borrower shall give the Administrative Agent in the case of Eurodollar Loans irrevocable notice by telephone not later than 12:00 noon (Charlotte, North Carolina time) three (3) days prior to the date of such Eurodollar Loan and shall immediately confirm any such telephone notice with a written Request for Loan; provided, however, that the failure by the Borrower to confirm any notice by telephone with a written Request for Loan shall not invalidate any notice so given.
Initial and Subsequent Loans. The obligation of the Lenders to make Loans to the Borrower upon the occasion of each borrowing hereunder (including the Initial Funding) is subject to the further conditions precedent that, as of the date of such Loans and after giving effect thereto:
(a) no Default shall have occurred and be continuing; and
(b) the representations and warranties made by the Borrower in Article VII and by the Borrower and each Guarantor in any other Loan Document shall be true on and as of the date of the making of such Loans with the same force and effect as if made on and as of such date and following such new borrowing, except to the extent such representations and warranties are expressly limited to an earlier date or the Required Lenders may expressly consent in writing to the contrary. Each request for a borrowing by the Borrower hereunder shall constitute a certification by the Borrower to the effect set forth in Section 6.02(b) (both as of the date of such notice and immediately following such borrowing).
Initial and Subsequent Loans. The obligation of each Lender to make any Loan to be made by it hereunder, and the obligation of the Issuing Bank to issue any Letter of Credit hereunder, is subject to the conditions precedent that, as of the date of such Loan or such issuance, and before and after giving effect thereto:
(a) no Default shall have occurred and be continuing;
(b) the representations and warranties made by each of the Company, the Canadian Borrower, any other Borrower and the Subsidiary Guarantors in each Basic Document to which it is a party shall be true on and as of the date of the making of such Loan or such issuance, with the same force and effect as if made on and as of such date; provided that the representations and warranties set forth in Section 8.10 hereof need be true only as of the Effective Date (except to the extent such representations and warranties relate to an earlier date, in which event they shall be true on and as of such earlier date); and
(c) the borrowing of such Loan by the Company, the Canadian Borrower or any other Borrower hereunder or the issuance of such Letter of Credit, as the case may be, and the related incurrence of obligations by the Company, the Canadian Borrower or any other Borrower does not violate the provisions of any Senior Subordinated Debt Indenture or any other Senior Subordinated Debt Document. Each notice of borrowing by the Company, the Canadian Borrower or any other Borrower hereunder shall constitute a certification by the Company, the Canadian Borrower or such other Borrower to the effect set forth in the preceding sentence (both as of the date of such notice and, unless the Company, the Canadian Borrower or such other Borrower otherwise notifies the Administrative Agent prior to the date of such borrowing or issuance, as of the date of such borrowing or issuance).
Initial and Subsequent Loans. The obligation of any Lender to make any Loan to the Borrowers upon the occasion of each borrowing hereunder is subject to the further conditions precedent that, as of the date of such Loan and after giving effect thereto:
(a) no Default shall have occurred and be continuing; and
(b) the representations and warranties made by the Borrowers in Article III hereof shall be true in all material respects on and as of the date of the making of such Loan with the same force and effect as if made on and as of such date (except to the extent such representations or warranties expressly relate to an earlier date, in which case they shall be true in all material respects as of such earlier date). Each notice of or request for a Borrowing by a Borrower hereunder shall constitute a certification by the Borrowers to the effect set forth in the preceding sentence (both as of the date of such notice and, unless any of the Borrowers otherwise notifies the Payment Agent prior to the date of such borrowing, as of the date of such borrowing).
Initial and Subsequent Loans. The obligation of any Bank or Issuing Lender to make a Loan (including any such Bank’s initial Loan), and of any Issuing Lender to issue, amend, renew or extend any Letter of Credit (each of the foregoing, a “Credit Event”) is subject to the conditions precedent that, both immediately prior to such Credit Event and also after giving effect thereto and to the intended use thereof:
(a) no Default or Event of Default shall have occurred and be continuing;
(b) the representations and warranties made by the Company in Section 7 hereof (in the case of any Credit Event after the Effective Date, other than (i) the last sentence of Section 7.02 hereof, (ii) Section 7.03 hereof, (iii) Section 7.08 hereof and (iv) Section 7.11 hereof) shall be true and complete in all material respects on and as of the date of such Credit Event 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) ; provided that any such representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects to the extent so qualified; and
(c) no Change of Control shall have occurred; Each notice of borrowing or request for the issuance or amendment 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 as of the date of such Credit Event). Without limiting the provisions of Section 2.10 hereof, Continuations and Conversions of Loans shall not be subject to this Section 6.02.
Initial and Subsequent Loans. The obligation of each Lender or any applicable Issuer to make any Loan (including, without limitation, its initial Loan) to be made by it hereunder (excluding conversions of Loans to Alternate Base Rate Loans, as to which no conditions precedent shall exist) or to issue or participate in any Letter of Credit is subject to the additional conditions precedent that (i) Administrative Agent shall have received a Request for Extension of Credit and such other certifications as Administrative Agent may reasonably require, (ii) in the case of Competitive Loans, the Company shall have complied with the provisions of Section 2.9 hereof and (iii) as of the date of such Loan or such issuance, and after giving effect thereto:
(a) no Default shall have occurred and be continuing;
(b) except for facts timely disclosed to Administrative Agent from time to time in writing, which facts (i) are not materially more adverse to the Company and its Subsidiaries or any other Obligor, (ii) do not materially decrease the ability of the Lenders to collect the Obligations as and when due and payable and (iii) do not materially increase the liability of any Agent or any of the Lenders, in each case compared to those facts existing on the Effective Date and the material details of which have been set forth in the Financial Statements delivered to Administrative Agent prior to the Effective Date or in the Disclosure Statement, and except for the representations set forth in the Loan Documents which, by their terms, are expressly (or by means of similar phrasing) made as of the Effective Date or as of the date hereof, as the case may be, only, the representations and warranties made in each Loan Document shall be true and correct in all material respects on and as of the date of the making of such Loan or such issuance, with the same force and effect as if made on and as of such date;
(c) the making of such Loan or the issuance of such Letter of Credit shall not violate any Legal Requirement applicable to any Lender; and
(d) no event or condition shall have occurred since the Effective Date which reasonably could be expected to result in a Material Adverse Effect. Each Request for Extension of Credit by the Company hereunder or request for issuance of a Letter of Credit shall include a representation and warranty by the Company to the effect set forth in Sections 7.2(a) and (b) (both as of the date of such notice and, unless the Company otherwise notifies Administrative Agent prior to ...
