Conditions Precedent to All Revolving Loans. The obligation of the Bank to make each Revolving Loan, including the initial Revolving Loan, or continue or convert the Revolving Loans to loans of another type, is further subject to the following conditions: (a) timely receipt by the Bank of a Notice of Borrowing as provided in Section 2.1; (b) the representations and warranties contained in Section 4 shall be true and accurate in all material respects on and as of the date of such Notice of Borrowing and on the effective date of the making, continuation or conversion of each Revolving Loan as though made at and as of each such date (except to the extent that such representations and warranties expressly relate to an earlier date), and no Default or Event of Default shall have occurred and be continuing, or would result from such Revolving Loan; (c) the resolutions referred to in Sections 3.1. (d) and 3.1(i) shall remain in full force and effect; and
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Conditions Precedent to All Revolving Loans. The obligation of the Bank to make each Revolving Loan, including the initial Revolving Loan, or continue or convert the Revolving Loans to loans of another type, is further subject to the following conditions:
(a) timely receipt by the Bank of a the Notice of Borrowing as provided in Section 2.1;
(b) the representations and warranties contained in Section 4 shall be true and accurate in all material respects on and as of the date of such Notice of Borrowing and on the effective date of the making, continuation or conversion of each Revolving Loan as though made at and as of each such date (except to the extent that such representations and warranties expressly relate to an earlier date), and no Default or Event of Default shall have occurred and be continuing, or would result from such Revolving Loan;
(c) the resolutions referred to in Sections 3.1.
(d) and 3.1(i) shall remain in full force and effect; and
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Hemasure Inc)
Conditions Precedent to All Revolving Loans. The obligation of the Bank to make each Revolving Loan, including the initial Revolving Loan, or continue or convert the Revolving Loans to loans of another type, is further subject to the following conditions:
(a) timely receipt by the Bank of a the Notice of Borrowing as provided in Section 2.1;
(b) the representations and warranties contained in Section 4 shall be true and accurate in all material respects on and as of the date of such Notice of Borrowing and on the effective date of the making, continuation or conversion of each Revolving Loan as though made at and as of each such date (except to the extent that such representations and warranties expressly relate to an earlier date), and no Default or Event of Default shall have occurred and be continuing, or would result from such Revolving Loan;
(c) the resolutions referred to in Sections 3.1.
(d) and 3.1(iSection 3,1(g) shall remain in full force and effect; and
(d) no change shall have occurred in any law or regulation or interpretation thereof that, in the opinion of counsel for the Bank, would make it illegal or against the policy of any governmental agency or authority for the Bank to make Revolving Loans hereunder.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Sepracor Inc /De/)
Conditions Precedent to All Revolving Loans. The obligation of the Bank to make each Revolving Loan, including the initial Revolving Loan, or continue or convert the Revolving Loans to loans of another type, is further subject to the following conditions:
(a) timely receipt by the Bank of a the Notice of Borrowing as provided in Section 2.1;
(b) the representations and warranties contained in Section 4 shall be true and accurate in all material respects on and as of the date of such Notice of Borrowing and on the effective date of the making, continuation or conversion of each Revolving Loan as though made at and as of each such date (except to the extent that such representations and warranties expressly relate to an earlier date), and no Default or Event of Default shall have occurred and be continuing, or would result from such Revolving Loan;
(c) the resolutions referred to in Sections 3.1.
(d) and 3.1(i) shall remain in full force and effect; and
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Biosepra Inc)
Conditions Precedent to All Revolving Loans. The obligation of the Bank to make each Revolving Loan, including the initial Revolving Loan, or continue or convert the Revolving Loans to loans of another type, is further subject to the following conditions:
(a) timely receipt by the Bank of a Notice of Borrowing as provided in Section 2.1;
(b) the representations and warranties contained in Section 4 shall be true and accurate in all material respects on and as of the date of such Notice of Borrowing and on the effective date of the making, continuation or conversion of each Revolving Loan as though made at and as of each such date (except to the extent that such representations and warranties expressly relate to an earlier date), and no Default or Event of Default shall have occurred and be continuing, or would result from such Revolving Loan;
(c) the resolutions referred to in Sections 3.1.
(d) and 3.1(i3.1
(i) shall remain in full force and effect; and
Appears in 1 contract