Common use of Affirmation of Representations and Warranties Clause in Contracts

Affirmation of Representations and Warranties. Any Borrowing Certificate or other request for any Advance or Letter of Credit hereunder shall constitute a representation and warranty that (a) the representations and warranties contained in Article 5 are true and correct on and as of the date of such request with the same effect as though made on and as of the date of such request and (b) on the date of such request no Default or Event of Default has occurred and is continuing or exists or will occur or exist after giving effect to such Advance or issuance of Letter of Credit (for this purpose such Advance or Letter of Credit being deemed to have been made or issued, as the case may be, on the date of such request). Failure of Administrative Agent to receive notice from each Loan Party to the contrary before the applicable Borrowing Date shall constitute a further representation and warranty by such Loan Party that (x) the representations and warranties of such Loan Party contained in the first sentence of this Section 7.2 are true and correct on and as of such Borrowing Date with the same effect as though made on and as of such Borrowing Date, (y) on such Borrowing Date, no Default or Event of Default has occurred and is continuing or exists or will occur or exist after giving effect to such Advance or issuance and (z) on such Borrowing Date, all conditions set forth in this Article 7 have been satisfied.

Appears in 2 contracts

Samples: Loan and Security Agreement (Us Lec Corp), Loan and Security Agreement (Us Lec Corp)

AutoNDA by SimpleDocs

Affirmation of Representations and Warranties. Any Borrowing Certificate or other request for any Advance or Letter of Credit hereunder shall constitute a representation and warranty that (a) the representations and warranties contained in Article 5 4 hereof are true and correct on and as of the date of such request with the same effect as though made on and as of the date of such request request, and (b) on the date of such request no Default or Event of Default has occurred and is continuing or exists or will occur or exist after giving effect to such Advance or issuance of Letter of Credit (for this purpose such Advance or Letter of Credit being deemed to have been made or issued, as the case may be, on the date of such request). --------------------------------- Borrower's Initials: Lender's Initials: --------------------------------- Failure of Administrative Agent Lender to receive notice from each Loan Party Borrower to the contrary before the applicable Borrowing Date such Advance is made shall constitute a further representation and warranty by such Loan Party Borrower that (x) the representations and warranties of such Loan Party Borrower contained in the first sentence of this Section 7.2 6.03 are true and correct on and as of the date of such Borrowing Date Advance with the same effect as though made on and as of the date of such Borrowing DateAdvance, and (y) on such Borrowing Date, the date of the Advance no Default or Event of Default has occurred and is continuing or exists or will occur or exist after giving effect to such Advance or issuance and (z) on such Borrowing Date, all conditions set forth in this Article 7 have been satisfiedAdvance.

Appears in 1 contract

Samples: Loan and Security Agreement (Viatel Inc)

Affirmation of Representations and Warranties. Any Borrowing Certificate or other request for any Advance or Letter of Credit hereunder shall constitute a representation and warranty that (a) the representations and warranties contained in Article 5 4 are true and correct on and as of the date of such request with the same effect as though made on and as of the date of such request request, except to the extent such representations and warranties relate to an earlier date, in which case that such representations and warranties were true and correct on and as of such earlier date, and (b) on the date of such request no Default or Event of Default has occurred and is continuing or exists or will occur or exist after giving effect to such Advance or issuance of Letter of Credit (for this purpose such Advance or Letter of Credit being deemed to have been made or issued, as the case may be, on the date of such request). Failure of the Administrative Agent to receive notice from each Loan Party to the contrary before the applicable Borrowing Date shall constitute a further representation and warranty by such Loan Party that (x) the representations and warranties of such Loan Party contained in the first sentence of this Section 7.2 6.2 are true and correct on and as of such Borrowing Date with the same effect as though made on and as of such Borrowing Date, except to the extent such representations and warranties relate to an earlier date, in which case that such representations and warranties were true and correct on and as of such earlier date, (y) on such Borrowing Date, no Default or Event of Default has occurred and is continuing or exists or will occur or exist after giving effect to such Advance or issuance and (z) on such Borrowing Date, all conditions set forth in this Article 7 6 have been satisfied.

Appears in 1 contract

Samples: Loan and Security Agreement (Us Xchange LLC)

AutoNDA by SimpleDocs

Affirmation of Representations and Warranties. Any The Borrowing Certificate or Certificate, other request for any Advance hereunder or Letter any Notice of Credit hereunder Conversion/Continuation shall constitute a representation and warranty that (a) the representations and warranties contained in Article 5 4 are true and correct on and as of the date of such request with the same effect as though made on and as of the date of such request request, except to the extent such representations and warranties relate to an earlier date, in which case that such representations and warranties were true and correct on and as of such earlier date, and (b) on the date of such request no Default or Event of Default has occurred and is continuing or exists or will occur or exist after giving effect to such Advance Advance, conversion or issuance of Letter of Credit continuation (for this purpose such Advance or Letter of Credit being deemed to have been made and the conversion or issuedcontinuation having occurred, as the case may be, on the date of such request). Failure of the Administrative Agent to receive notice from each Loan Party to the contrary before the applicable Borrowing Date shall constitute a further representation and warranty by such Loan Party that (x) the representations and warranties of such Loan Party contained in the first sentence of this Section 7.2 6.3 are true and correct on and as of such Borrowing Date with the same effect as though made on and as of such Borrowing Date, except to the extent such representations and warranties relate to an earlier date, in which case that such representations and warranties were true and correct on and as of such earlier date, (y) on such Borrowing Date, no Default or Event of Default has occurred and is continuing or exists or will occur or exist after giving effect to such Advance or issuance and (z) on such Borrowing Date, all conditions set forth in this Article 7 6 have been satisfied.

Appears in 1 contract

Samples: Loan and Security Agreement (Eschelon Telecom Inc)

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