Any Advance Sample Clauses
The "Any Advance" clause defines the conditions under which a lender may provide funds to a borrower before the full loan amount is disbursed. Typically, this clause outlines the process for making partial advances, including any requirements or limitations that must be met before each advance is released, such as completion of certain milestones or submission of documentation. Its core practical function is to facilitate staged funding, ensuring that the borrower receives necessary funds as needed while allowing the lender to maintain oversight and control over the disbursement process.
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Any Advance. The obligation of each Lender to make any Advance, and the obligation of the Issuing Lender to issue any Letter of Credit, is subject to the following conditions precedent (unless the Requisite Lenders or, in any case where the approval of all of the Lenders is required pursuant to Section 11.2, all of the Lenders, in their sole and absolute discretion, shall agree otherwise):
(a) except (i) for representations and warranties which expressly speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 4 (other than Sections 4.4, 4.6 (first sentence), 4.9 and 4.16) shall be true and correct in all material respects on and as of the date of the Advance or the Letter of Credit as though made on that date;
(b) no circumstance or event shall have occurred that constitutes a Material Adverse Effect since the Closing Date;
(c) other than matters described in Schedule 4.9 or not required as of the Closing Date to be therein described, there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower or any Subsidiary of Borrower or any Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect;
(d) the Administrative Agent shall have timely received a Request for Borrowing (or telephonic or other request for Borrowing referred to in the second sentence of Section 2.1(b), if applicable), or the Issuing Lender shall have received a Request for Letter of Credit, as the case may be, in compliance with Article 2; and
(e) the Administrative Agent shall have received, in form and substance reasonably satisfactory to the Administrative Agent, such other certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Lenders reasonably may require.
Any Advance. The obligations of the Banks to make any Advance are subject to the following conditions precedent:
(a) the Administrative Agent shall have received a Loan Notice;
(b) the representations and warranties contained in Article IV (other than the representations and warranties contained in Sections 4.4(a), 4.18 and 4.19 and, if the Borrower holds an Investment Grade Credit Rating at such time, Section 4.7(b)) shall be true and correct in all material respects on and as of the date of the Loan as though made on and as of that date (except that the financial statements referred to in Section 4.5(a) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(b) and the financial statements referred to in Section 4.5(b) shall be deemed to refer to the most recent statements furnished pursuant to Section 7.1(a), and the Borrowing Base Certificate referred to in Section 4.7(b) shall be deemed to refer to the most recent Borrowing Base Certificate delivered pursuant to Section 2.8); it being understood and agreed that any representation or warranty that is qualified as to materiality or “Material Adverse Effect” shall be true and correct in all respects;
(c) the Administrative Agent shall have received such other information relating to any matters which are the subject of Section 8.2(b) or the compliance by Borrower with this Agreement as may reasonably be requested by the Administrative Agent on behalf of a Bank; and
(d) at and after giving effect to such Advance, no Default or Event of Default shall have occurred and be continuing. Each Loan Notice submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section have been satisfied on and as of the date of the Loan requested thereby.
Any Advance. The obligation of each Lender to make any Advance, and the obligation of the Issuing Lender to issue any Letter of Credit, is subject to the following conditions precedent (unless the Requisite Lenders, in their reasonable discretion, shall agree otherwise):
(a) except (i) for representations and warranties which expressly speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 4 (other than Sections 4.4, 4.6 (first sentence), 4.10 and 4.17) shall be true and correct in all material respects on and as of the date of the Advance as though made on that date;
(b) no circumstance or event shall have occurred that constitutes a Material Adverse Effect since the Closing Date;
(c) other than matters described in Schedule 4.10 or not required as of the Closing Date to be therein described, there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower or any of its Subsidiaries or any Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect; and
(d) the Administrative Agent shall have timely received a Request for Loan (or telephonic or other request for Loan referred to in the second sentence of Section 2.1(c), if applicable), or a Request for Letter of Credit (as applicable), in compliance with Article 2.
Any Advance. The obligation of each Lender to make any Advance which would increase the outstanding principal Indebtedness evidenced by the Notes, the obligation of the Lenders to make any LIBOR Loan, the obligation of the Issuing Lender to issue any Letter of Credit, and the obligation of the Swing Line Lender to make any Swing Line Advance, are each subject to the conditions precedent that:
(a) except as disclosed by Borrower and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 4 (other than the representations set forth in Sections 4.4, 4.10 and 4.17) shall be true and correct on the date of such Advance as though made on that date;
(b) There shall not be any pending or threatened action, suit, proceeding or investigation affecting Coast Resorts or any of its Subsidiaries before any Governmental Agency that constitutes a Material Adverse Effect;
(c) except as provided for in Section 2.1(g), the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other request for Loan referred to in the second sentence of Section 2.1(b), if applicable) or the Issuing Lender shall have received a Request for Letter of Credit, as the case may be, in compliance with Article 2;
(d) no Default or Event of Default shall have occurred and remain continuing or will result from such Advance or Swing Line Advance or the issuance of such Letter of Credit;
(e) the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or the Requisite Lenders reasonably may require.
Any Advance. The obligation of each Lender to make any Advance which would increase the outstanding principal Indebtedness evidenced by the Notes and the obligation of the Lenders to make any LIBOR Loan is subject to the conditions precedent that:
(a) EXCEPT as disclosed by the Obligors and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 4 (OTHER THAN the representations set forth in Sections 4.4, 4.10 and 4.17) shall be true and correct on the date of such Advance as though made on that date;
(b) There shall not be any pending or threatened action, suit, proceeding or investigation affecting Borrower or any of its Subsidiaries before any Governmental Agency that constitutes a Material Adverse Effect;
(c) EXCEPT as provided for in Section 2.1(g), the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other request for Loan referred to in the second sentence of Section 2.1(b), if applicable) or, in the appropriate case, a Request for Letter of Credit;
(d) no Default or Event of Default shall have occurred and remain continuing or will result from such Advance;
(e) the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or the Requisite Lenders reasonably may require.
Any Advance. The obligation of each Lender to make any Advance, and the obligation of the Issuing Lender to issue, extend, renew, amend or increase the amount of any Letter of Credit, is subject to the following conditions precedent (unless the Requisite Lenders or, in any case where the approval of all of the Lenders is required pursuant to Section 11.2, all of the Lenders, in their sole and absolute discretion, shall agree otherwise):
(a) except (i) for representations and warranties which expressly speak as of a particular date or (ii) as disclosed by Borrower and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 4 shall be true and correct in all material respects on and as of the date of the Advance or the Letter of Credit as though made on that date;
(b) no circumstance or event shall have occurred that constitutes a Material Adverse Effect since the last day of the third Fiscal Quarter of Fiscal Year 2002;
(c) no Default or Event of Default has occurred and is continuing or will result from the making of any such Advance or the issuance of any such Letter of Credit;
(d) the Administrative Agent shall have timely received a Request for Borrowing (or telephonic or other request for Borrowing referred to in the second sentence of Section 2.1(b), if applicable), or the Issuing Lender shall have received a Letter of Credit Application, as the case may be, in compliance with Article 2; and
(e) the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent, such other assurances, certificates, documents or consents related to the foregoing as the Administrative Agent or Requisite Lenders reasonably may require.
Any Advance. Subject to Section 2.6(e), the obligation of each Bank to make any Advance (other than a Base Rate Advance with respect to a Base Rate Loan which, if made, would not increase the outstanding principal Indebtedness evidenced by the Committed Advance Notes), is subject to the conditions precedent that (a) the representations and warranties contained in Sections 4.1, 4.2, 4.3, 4.4(b), 4.11, 4.12 (but only with respect to Events of Default) and 4.14 shall be true and correct in all material respects on the date of such Advance as though made on that date except as disclosed by Borrower and approved in writing by the Requisite Banks, and (b) except as provided for in Section 2.1(g), the Administrative Agent shall have timely received a Request for Loan in compliance with Article 2 (or telephonic or other request for loan referred to in the second sentence of Section 2.1(c), if applicable).
Any Advance. Notwithstanding anything to the contrary contained in or inferable from any of the above, City shall not be required to make any Advance hereunder if, at the time of the requested advance, any of the following exists:
(a) An Event of Default; or
(b) An order or decree in any court of competent jurisdiction exists enjoining or prohibiting the Corporation or City, or either of them, from performing their respective obligations under this Agreement; or
(c) The City has failed to appropriate funds for its obligations under this Agreement, or if there no other lawfully available funds for this Agreement. It is expressly understood that this Agreement in no way obligates the City's General Fund or any other monies or credits of the City of Austin; or
(d) The Corporation is in arrears on any taxes that it may owe to the City. Furthermore, the City may offset from any Advance the amount of debt that Corporation may owe to the City, as reasonably determined by the City from time to time.
(e) Any cost of the operating the Property:
(1) has been paid, reimbursed or is subject to payment or reimbursement, from any other source other than Corporation's own funds;
(2) was incurred prior to the beginning date or after the ending date specified in Section 2.1, unless specifically authorized in writing by City; or
(3) is not incurred in strict accordance with the terms of this Agreement including all exhibits attached hereto.
(f) Any cost or portion thereof which is incurred with respect to any activity of Corporation after City has requested that Corporation furnish data concerning such action prior to proceeding further, unless and until Corporation is thereafter advised by City to proceed; or
(g) Payment to any party other than Corporation for any monies or for provision of any goods or services was previously made by the Corporation.
Any Advance. The obligation of each Lender to make any Advance, and the obligation of the Issuing Lender to issue any Letter of Credit, is subject to the following conditions precedent (unless, subject to Section 11.2(g) with respect to any Advance under the Revolving Credit Facility, the Requisite Lenders, in their reasonable discretion, shall agree otherwise):
(a) except (i) for representations and warranties which expressly speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by ▇▇▇▇▇▇▇▇ and approved in writing by the Requisite Lenders, the representations and warranties contained in any Loan Document (other than Section 4.17) shall be true and correct in all material respects (except that any representation and warranty that is qualified by materiality shall be true and correct in all respects) on and as of the date of the Advance as though made on that date;
(b) [Reserved];
(c) the Agent shall have timely received a Request for Loan (or telephonic or other request for Loan referred to in the second sentence of Section 2.1(c), if applicable), or a Request for Letter of Credit (as applicable), in compliance with Article 2; and
(d) no Default or Event of Default shall have occurred and be continuing on and as of the date of such Advance.
Any Advance. The obligation of each Lender to make any Advance, and the obligation of the Issuing Lender to issue any Letter of Credit, is subject to the following conditions precedent (unless the Requisite Lenders or, in any case where the approval of all of the Lenders is required pursuant to Section 11.2, all of the Lenders, in their sole and absolute discretion, shall agree otherwise):
(a) except (i) for representations and warranties which expressly speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and approved in writing by the Requisite Lenders, the representations and warranties contained in Article 4 (other than Sections 4.4, 4.6 (first sentence), 4.10 and 4.17) shall be true and correct in all material respects on and as of the date of the Advance as though made on that date;
(b) no circumstance or event shall have occurred that constitutes a Material Adverse Effect since the Closing Date;