{"component": "clause", "props": {"groups": [{"size": 5, "snippet_links": [{"key": "date-of", "type": "clause", "offset": [7, 14]}, {"key": "each-credit-event", "type": "clause", "offset": [15, 32]}, {"key": "a-borrowing", "type": "definition", "offset": [76, 87]}, {"key": "agent-shall", "type": "definition", "offset": [143, 154]}, {"key": "in-respect-of", "type": "clause", "offset": [169, 182]}, {"key": "borrowing-notice", "type": "clause", "offset": [213, 229]}, {"key": "as-required-by", "type": "clause", "offset": [230, 244]}, {"key": "section-23", "type": "clause", "offset": [245, 256]}, {"key": "the-representations-and-warranties", "type": "clause", "offset": [262, 296]}, {"key": "article-iii", "type": "clause", "offset": [310, 321]}, {"key": "true-and-correct", "type": "clause", "offset": [345, 361]}, {"key": "in-all-material-respects", "type": "definition", "offset": [362, 386]}, {"key": "date-hereof", "type": "clause", "offset": [403, 414]}, {"key": "except-to-the-extent", "type": "clause", "offset": [441, 461]}, {"key": "at-the-time", "type": "clause", "offset": [556, 567]}, {"key": "default-shall", "type": "definition", "offset": [654, 667]}, {"key": "each-advance", "type": "clause", "offset": [701, 713]}, {"key": "representation-and-warranty", "type": "definition", "offset": [771, 798]}, {"key": "by-the-borrower", "type": "clause", "offset": [799, 814]}, {"key": "satisfaction-of-the-conditions", "type": "clause", "offset": [858, 888]}, {"key": "section-41", "type": "clause", "offset": [933, 944]}], "samples": [{"hash": "jreOjwG6Su6", "uri": "/contracts/jreOjwG6Su6#credit-events", "label": "Credit Agreement (Microchip Technology Inc)", "score": 18.0, "published": true}, {"hash": "cbSj6FhKLtb", "uri": "/contracts/cbSj6FhKLtb#credit-events", "label": "Credit Agreement (Microchip Technology Inc)", "score": 18.0, "published": true}, {"hash": "8PqMsSgRyox", "uri": "/contracts/8PqMsSgRyox#credit-events", "label": "Credit Agreement (Swift Transportation Co Inc)", "score": 18.0, "published": true}], "snippet": "On the date of each Credit Event, including the date of each refinancing of a Borrowing as contemplated by Section 2.5:\n(a) The Administrative Agent shall have received in respect of such advance or refinancing a Borrowing Notice as required by Section 2.3.\n(b) The representations and warranties set forth in Article III hereof shall have been true and correct in all material respects both (i) on the date hereof and (ii) as of such date, except to the extent such representations and warranties expressly relate and are limited to a different date.\n(c) At the time of and immediately after such advance or refinancing no Event of Default or Potential Default shall have occurred and be continuing. Each advance or refinancing hereunder shall be deemed to constitute a representation and warranty by the Borrower on the date of such Credit Event as to the satisfaction of the conditions specified in paragraphs (b) and (c) of this Section 4.1.", "hash": "c3661f96c11e3adc1450c6b594f1df9a", "id": 1}, {"size": 4, "snippet_links": [{"key": "the-obligation", "type": "clause", "offset": [0, 14]}, {"key": "a-loan", "type": "definition", "offset": [37, 43]}, {"key": "lc-bank", "type": "clause", "offset": [88, 95]}, {"key": "to-issue", "type": "clause", "offset": [96, 104]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [105, 123]}, {"key": "extension-of", "type": "clause", "offset": [142, 154]}, {"key": "evergreen-letter-of-credit", "type": "definition", "offset": [158, 184]}, {"key": "subject-to-the", "type": "definition", "offset": [243, 257]}, {"key": "satisfaction-of", "type": "clause", "offset": [258, 273]}, {"key": "by-the-agent", "type": "clause", "offset": [316, 328]}, {"key": "notice-of-borrowing", "type": "clause", "offset": [334, 353]}, {"key": "as-required-by", "type": "clause", "offset": [354, 368]}, {"key": "in-the-case", "type": "clause", "offset": [383, 394]}, {"key": "a-borrowing", "type": "definition", "offset": [398, 409]}, {"key": "bank-of", "type": "clause", "offset": [428, 435]}, {"key": "the-borrowing", "type": "clause", "offset": [514, 527]}, {"key": "relates-to", "type": "definition", "offset": [528, 538]}, {"key": "in-connection-with", "type": "clause", "offset": [571, 589]}, {"key": "a-term-loan", "type": "definition", "offset": [590, 601]}, {"key": "receipt-by-the", "type": "clause", "offset": [603, 617]}, {"key": "the-term-notes", "type": "clause", "offset": [627, 641]}, {"key": "executed-by", "type": "clause", "offset": [647, 658]}, {"key": "after-giving", "type": "clause", "offset": [692, 704]}, {"key": "credit-event", "type": "definition", "offset": [720, 732]}, {"key": "aggregate-amount", "type": "definition", "offset": [765, 781]}, {"key": "the-commitments", "type": "clause", "offset": [785, 800]}, {"key": "default-shall", "type": "definition", "offset": [861, 874]}, {"key": "each-obligor", "type": "clause", "offset": [964, 976]}, {"key": "contained-in", "type": "definition", "offset": [977, 989]}, {"key": "financing-document", "type": "clause", "offset": [995, 1013]}, {"key": "a-party", "type": "clause", "offset": [1029, 1036]}, {"key": "date-of", "type": "clause", "offset": [1068, 1075]}, {"key": "of-the-borrower", "type": "clause", "offset": [1249, 1264]}, {"key": "construction-projects", "type": "definition", "offset": [1291, 1312]}, {"key": "conduct-of-the", "type": "clause", "offset": [1341, 1355]}, {"key": "payment-by-the-borrower", "type": "clause", "offset": [1389, 1412]}, {"key": "pursuant-to-section", "type": "definition", "offset": [1448, 1467]}, {"key": "each-borrowing", "type": "clause", "offset": [1502, 1516]}, {"key": "representation-and-warranty", "type": "definition", "offset": [1541, 1568]}, {"key": "the-facts", "type": "clause", "offset": [1621, 1630]}, {"key": "in-clauses", "type": "clause", "offset": [1641, 1651]}], "samples": [{"hash": "hwxM2sQ1Aho", "uri": "/contracts/hwxM2sQ1Aho#credit-events", "label": "Credit Agreement (Perini Corp)", "score": 21.0, "published": true}], "snippet": "The obligation of any Lender to make a Loan on the occasion of any Borrowing and of the LC Bank to issue a Letter of Credit (or to permit the extension of an Evergreen Letter of Credit) on the occasion of a request therefor by the Borrower is subject to the satisfaction of the following conditions:\n(a) receipt (i) by the Agent of a Notice of Borrowing as required by Section 2.02, in the case of a Borrowing or (ii) by the LC Bank of notice as required by Section 2.18, in the case of a Letter of Credit;\n(b) if the Borrowing relates to a Notice of Borrowing delivered in connection with a Term Loan, receipt by the Agent of the Term Notes duly executed by the Borrower;\n(c) the fact that, after giving effect to such Credit Event, the Usage shall not exceed the aggregate amount of the Commitments;\n(d) the fact that, immediately after such Credit Event, no Default shall have occurred and be continuing;\n(e) the fact that the representations and warranties of each Obligor contained in each Financing Document to which it is a party shall be true on and as of the date of such Borrowing (unless stated to relate solely to an earlier date, in which case such representations and warranties shall be true as of such earlier date);\n(f) the ability of the Borrower to obtain bonding for new construction projects shall be sufficient for the conduct of the Borrower's business; and\n(g) the payment by the Borrower of all amounts theretofore payable pursuant to Section 9.03 within seven days of demand. Each Borrowing shall be deemed to be a representation and warranty by the Borrower on the date of such Borrowing as to the facts specified in clauses (c), (d), (e), (f) and (g) of this Section.", "hash": "0532ca4abae4dfcfc038e9a3a4996be8", "id": 2}, {"size": 3, "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "due-and-payable", "type": "clause", "offset": [60, 75]}, {"key": "agreement-or", "type": "definition", "offset": [87, 99]}, {"key": "operative-document", "type": "clause", "offset": [110, 128]}, {"key": "period-of", "type": "definition", "offset": [230, 239]}, {"key": "business-days", "type": "clause", "offset": [250, 263]}, {"key": "representation-or-warranty", "type": "clause", "offset": [276, 302]}, {"key": "by-or-on-behalf-of", "type": "definition", "offset": [323, 341]}, {"key": "the-sponsor", "type": "clause", "offset": [342, 353]}, {"key": "in-connection-with", "type": "clause", "offset": [378, 396]}, {"key": "schedules-attached", 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"the-material", "type": "definition", "offset": [3588, 3600]}, {"key": "assignment-for-the-benefit-of-creditors", "type": "clause", "offset": [3687, 3726]}, {"key": "any-action", "type": "definition", "offset": [3741, 3751]}, {"key": "for-the-purpose-of", "type": "definition", "offset": [3752, 3770]}, {"key": "the-foregoing", "type": "definition", "offset": [3788, 3801]}, {"key": "involuntary-proceeding", "type": "definition", "offset": [3813, 3835]}, {"key": "involuntary-petition", "type": "definition", "offset": [3861, 3881]}, {"key": "in-respect-of", "type": "clause", "offset": [3953, 3966]}, {"key": "order-or-decree", "type": "clause", "offset": [4451, 4466]}, {"key": "unable-to-pay", "type": "definition", "offset": [4587, 4600]}, {"key": "in-writing", "type": "clause", "offset": [4614, 4624]}, {"key": "inability-to-pay", "type": "definition", "offset": [4629, 4645]}, {"key": "required-participants", "type": "definition", "offset": [4769, 4790]}, {"key": "when-taken", "type": "clause", "offset": [4792, 4802]}, {"key": "erisa-events", "type": "definition", "offset": [4823, 4835]}, {"key": "could-reasonably-be-expected-to", "type": "definition", "offset": [4856, 4887]}, {"key": "the-subsidiaries", "type": "clause", "offset": [4927, 4943]}, {"key": "aggregate-amount", "type": "definition", "offset": [4950, 4966]}, {"key": "payment-of-money", "type": "clause", "offset": [5027, 5043]}, {"key": "in-the-aggregate", "type": "definition", "offset": [5069, 5085]}, {"key": "enforcement-proceedings", "type": "definition", "offset": [5158, 5181]}, {"key": "consecutive-days", "type": "definition", "offset": [5290, 5306]}, {"key": "enforcement-of", "type": "clause", "offset": [5330, 5344]}, {"key": "pending-appeal", "type": "clause", "offset": [5384, 5398]}, {"key": "material-adverse-effect", "type": "definition", "offset": [5578, 5601]}, {"key": "a-change-in-control", "type": "clause", "offset": [5791, 5810]}, {"key": "provision-of", "type": "clause", "offset": [5844, 5856]}, {"key": "subsidiary-guaranty-agreement", "type": "clause", "offset": [5861, 5890]}, {"key": "for-any-reason", "type": "clause", "offset": [5897, 5911]}, {"key": "valid-and-binding", "type": "clause", "offset": [5924, 5941]}, {"key": "subsidiary-loan-party", "type": "definition", "offset": [5974, 5995]}], "samples": [{"hash": "ePX9PnlgVnH", "uri": "/contracts/ePX9PnlgVnH#credit-events", "label": "Loan Facility Agreement (Ruby Tuesday Inc)", "score": 21.0, "published": true}, {"hash": "cwKNSn4ybJT", "uri": "/contracts/cwKNSn4ybJT#credit-events", "label": "Loan Facility Agreement (Ruby Tuesday Inc)", "score": 21.0, "published": true}], "snippet": "In the event that:\n(a) Sponsor shall fail to pay any amount due and payable under this Agreement or any other Operative Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of three (3) Business Days; or\n(b) any representation or warranty made or deemed made by or on behalf of the Sponsor or any Subsidiary in or in connection with this Agreement or any other Operative Document (including the Exhibits and Schedules attached thereto) and any amendments or modifications hereof or waivers hereunder, or in any certificate, report, financial statement or other document submitted to the Servicer or the Participants by any Credit Party or any representative of any Credit Party pursuant to or in connection with this Agreement or any other Operative Document shall prove to be incorrect in any material respect when made or deemed made or submitted; or\n(c) Sponsor shall fail to observe or perform any covenant or agreement contained in Sections 6.1, 6.2, 6.3 (with respect to the Sponsor\u2019s existence) or 6.12 through 6.26; or\n(d) any Credit Party shall fail to observe or perform any covenant or agreement contained in this Agreement or any other Loan Document (other than those referred to in clauses (a) and (c) above), and such failure shall remain unremedied for 30 days after the earlier of (i) any officer of the Sponsor becomes aware of such failure, or (ii) written notice thereof shall have been given to the Sponsor by the Servicer or any Participant; or\n(e) the Sponsor or any Subsidiary (whether as primary obligor or as guarantor or other surety) shall fail to pay any principal of or premium or interest on any Material Indebtedness that is outstanding, when and as the same shall become due and payable (whether at scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument evidencing such Material Indebtedness; or any other event shall occur or condition shall exist under any agreement or instrument relating to such Material Indebtedness and shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition is to accelerate, or permit the acceleration of, the maturity of such Material Indebtedness; or any such Material Indebtedness shall be declared to be due and payable; or required to be prepaid or redeemed (other than by a regularly scheduled required prepayment or redemption), purchased or defeased, or any offer to prepay, redeem, purchase or defease such Material Indebtedness shall be required to be made, in each case prior to the stated maturity thereof; or\n(f) the Sponsor or any Material Subsidiary shall (i) commence a voluntary case or other proceeding or file any petition seeking liquidation, reorganization or other relief under any federal, state or foreign bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a custodian, trustee, receiver, liquidator or other similar official of it or any substantial part of its property, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (i) of this Section, (iii) apply for or consent to the appointment of a custodian, trustee, receiver, liquidator or other similar official for the Sponsor or any such Material Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors, or (vi) take any action for the purpose of effecting any of the foregoing; or\n(g) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or other relief in respect of the Sponsor or any Material Subsidiary or its debts, or any substantial part of its assets, under any federal, state or foreign bankruptcy, insolvency or other similar law now or hereafter in effect or (ii) the appointment of a custodian, trustee, receiver, liquidator or other similar official for the Sponsor or any Material Subsidiary or for a substantial part of its assets, and in any such case, such proceeding or petition shall remain undismissed for a period of 60 days or an order or decree approving or ordering any of the foregoing shall be entered; or\n(h) the Sponsor or any Material Subsidiary shall become unable to pay, shall admit in writing its inability to pay, or shall fail to pay, its debts as they become due; or\n(i) an ERISA Event shall have occurred that, in the opinion of the Required Participants, when taken together with other ERISA Events that have occurred, could reasonably be expected to result in liability to the Sponsor and the Subsidiaries in an aggregate amount exceeding $25,000,000; or\n(j) any judgment or order for the payment of money in excess of $25,000,000 in the aggregate shall be rendered against the Sponsor or any Subsidiary, and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order or (ii) there shall be a period of 30 consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; or\n(k) any nonmonetary judgment or order shall be rendered against the Sponsor or any Subsidiary that could reasonably be expected to have a Material Adverse Effect, and there shall be a period of 30 consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; or\n(l) a Change in Control shall occur or exist; or\n(m) any provision of any Subsidiary Guaranty Agreement shall for any reason cease to be valid and binding on, or enforceable against, any Subsidiary Loan Party, or any Subsidiary Loan Party shall so state in writing, or any Subsidiary Loan Party shall seek to terminate its Subsidiary Guaranty Agreement;", "hash": "1594c4c3fde2e384956cc1f6563efb94", "id": 3}, {"size": 3, "snippet_links": [{"key": "the-obligation", "type": "clause", "offset": [0, 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therefor by the Borrower is subject to the satisfaction of the following conditions:\n(a) receipt (i) by the Agent of a Notice of Bridge Borrowing as required by Section 2.02, in the case of a Bridge Borrowing or (ii) by the Bridge LC Bank of notice as required by Section 2.15, in the case of a Bridge Letter of Credit;\n(b) the fact that, after giving effect to such Credit Event, the Usage shall not exceed the aggregate amount of the Bridge Commitments and the fact that the Commitments (as defined in the Credit Agreement) shall be fully utilized;\n(c) the fact that, immediately after such Credit Event, no Default shall have occurred and be continuing;\n(d) the fact that the representations and warranties of each Obligor contained in each Financing Document to which it is a party (except, in the case of a Refunding Bridge Borrowing, the representation and warranty set forth in Section 4.04(c) hereof as to any material adverse change which has theretofore been disclosed in writing by the Borrower to the Bridge Banks) shall be true on and as of the date of such Bridge Borrowing;\n(e) the ability of the Borrower to obtain bonding for new construction projects shall not be less than or more limited than at the date hereof;\n(f) the payment by the Borrower of all amounts theretofore payable pursuant to Section 8.03 within seven days of demand;\n(g) at any time on or after March 8, 1996, receipt by the Agent of (i) evidence of recording of the Mortgages on the Mortgaged Facilities described in Items 13 and 15 in Part I of Schedule III and (ii) opinions of counsel in each jurisdiction in which the foregoing Mortgages are recorded in form and substance satisfactory to the Agent covering such matters relating thereto as the Required Bridge Banks may reasonably request;\n(h) at any time on or after March 28, 1996, receipt by the Agent of a policy of title insurance with respect to each Mortgage and Deed of Trust relating to the Mortgaged Facilities described as Items 1, 2, 3, 4, 5, 6, 9 and 13 in Part I of Schedule III, insuring the perfection, enforceability and first priority of the Lien created under such Mortgage or Deed of Trust, as the case may be, as a valid first mortgage or deed of trust Lien, as the case may be, on the Mortgaged Facilities described therein, in form and substance reasonably satisfactory to the Agent and in the respective amounts specified in Part I of Schedule III (with all premiums, expenses and fees paid or caused to be paid by the Borrower), each of which policies shall (i) be issued by a title company reasonably satisfactory to the Agent, (ii) have been supplemented by such endorsements as shall be reasonably requested by the Agent (including, without limitation, endorsements relating to usury, revolving credit, doing business and restrictions) and (iii) contain only such exceptions to title as shall be reasonably satisfactory to the Agent, provided that the parties hereto agree that the Permitted Liens constitute satisfactory exceptions to title. Each Bridge Borrowing shall be deemed to be a representation and warranty by the Borrower on the date of such Bridge Borrowing as to the facts specified in clauses (b), (c), (d), (e) and (f) of this Section.", "hash": "36d3c1d8b3061509cd4be329d2beae1a", "id": 4}, {"size": 3, "snippet_links": [{"key": "section-42", "type": "clause", "offset": [3, 14]}, {"key": "first-credit-event", "type": "clause", "offset": [15, 33]}], "samples": [{"hash": "bPMlM4lrjBd", "uri": "/contracts/bPMlM4lrjBd#credit-events", "label": "Credit Agreement (Knight Transportation Inc)", "score": 18.0, "published": true}], "snippet": "36 SECTION 4.2 First Credit Event............................................36", "hash": "c5022063121a07d16cd105ef4457474a", "id": 5}, {"size": 2, "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}], "samples": [{"hash": "k9fDo2MVh1K", "uri": "/contracts/k9fDo2MVh1K#credit-events", "label": "Loan Facility Agreement (Ruby Tuesday Inc)", "score": 18.0, "published": true}, {"hash": "bznjVCwgZXb", "uri": "/contracts/bznjVCwgZXb#credit-events", "label": "Loan Facility Agreement (Ruby Tuesday Inc)", "score": 18.0, "published": true}], "snippet": "In the event that:", "hash": "c53735332177c4be0f529d97f24ba43f", "id": 6}, {"size": 2, "snippet_links": [{"key": "the-obligation", "type": "clause", "offset": [0, 14]}, {"key": "each-bank", "type": "clause", "offset": [22, 31]}, {"key": "a-loan", "type": "definition", "offset": [40, 46]}, {"key": "each-borrowing", "type": "clause", "offset": [66, 80]}, {"key": "committed-borrowing", "type": "clause", "offset": [91, 110]}, {"key": "pursuant-to-section", "type": "definition", "offset": [111, 130]}, {"key": "swingline-loans", "type": "definition", "offset": [161, 176]}, {"key": "lc-issuing-bank", "type": "definition", "offset": [190, 205]}, {"key": "to-sell", "type": "clause", "offset": [206, 213]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [265, 283]}, {"key": "to-extend", "type": "clause", "offset": [352, 361]}, {"key": "extension-of", "type": "clause", "offset": [376, 388]}, {"key": "date-of", "type": "clause", "offset": [401, 408]}, {"key": "issued-by", "type": "definition", "offset": [428, 437]}, {"key": "swingline-bank", "type": "definition", "offset": [504, 518]}, {"key": "subject-to-the", "type": "definition", "offset": [555, 569]}, {"key": "satisfaction-of", "type": "clause", "offset": [570, 585]}, {"key": "amendment-effective-date", "type": "definition", "offset": [634, 658]}, {"key": "prior-to", "type": "definition", "offset": [685, 693]}, {"key": "april-15", "type": "definition", "offset": [694, 702]}, {"key": "the-administrative-agent", "type": "clause", "offset": [725, 749]}, {"key": "relevant-credit-event", "type": "definition", "offset": [767, 788]}, {"key": "as-required-by", "type": "clause", "offset": [789, 803]}, {"key": "the-case", "type": "definition", "offset": [853, 861]}, {"key": "default-shall", "type": "definition", "offset": [940, 953]}, {"key": "the-representations-and-warranties", "type": "clause", "offset": [1017, 1051]}, {"key": "financing-document", "type": "clause", "offset": [1116, 1134]}, {"key": "a-party", "type": "clause", "offset": [1150, 1157]}, {"key": "each-credit-event", "type": "clause", "offset": [1250, 1267]}, {"key": "this-agreement", "type": "clause", "offset": [1274, 1288]}, {"key": "representation-and-warranty", "type": "definition", "offset": [1313, 1340]}, {"key": "the-facts", "type": "clause", "offset": [1390, 1399]}, {"key": "in-clauses", "type": "clause", "offset": [1410, 1420]}], "samples": [{"hash": "d0woE94QPtL", "uri": "/contracts/d0woE94QPtL#credit-events", "label": "Credit Agreement (Vencor Inc)", "score": 18.0, "published": true}], "snippet": "The obligation (i) of each Bank to make a Loan on the occasion of each Borrowing (except a Committed Borrowing pursuant to Section 2.09(i) to refund outstanding Swingline Loans), (ii) of an LC Issuing Bank to sell and of each Bank to purchase each participation in a Letter of Credit as and when provided in Section 2.08, (iii) of each LC Issuing Bank to extend (or allow the extension of) the expiry date of a Letter of Credit issued by it hereunder as and when provided in Section 2.08 and (iv) of the Swingline Bank to make any Swingline Loan are each subject to the satisfaction of the following conditions:\n(a) the fact that the Amendment Effective Date shall have occurred on or prior to April 15, 1997;\n(b) receipt by the Administrative Agent of notice of the relevant Credit Event as required by Section 2.02(a), 2.03(f), 2.08(d) or 2.09(b), as the case may be;\n(c) the fact that, immediately before and after such Credit Event, no Default shall have occurred and be continuing; and\n(d) the fact that each of the representations and warranties made by Vencor or any of its Subsidiaries in or pursuant to any Financing Document to which it is a party shall be true on and as of the date of such Credit Event as if made on and as of such date. Each Credit Event under this Agreement shall be deemed to be a representation and warranty by Vencor on the date of such Credit Event as to the facts specified in clauses (c) and (d) of this Section.", "hash": "5d7550b3374004ddd8aee1369847823d", "id": 7}, {"size": 2, "snippet_links": [{"key": "the-obligations", "type": "clause", "offset": [0, 15]}, {"key": "each-lender", "type": "clause", "offset": [23, 34]}, {"key": "a-loan", "type": "definition", "offset": [57, 63]}, {"key": "each-borrowing", "type": "clause", "offset": [83, 97]}, {"key": "lc-issuing-bank", "type": "definition", "offset": [110, 125]}, {"key": "to-sell", "type": "clause", "offset": [126, 133]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [187, 205]}, {"key": "to-extend", "type": "clause", "offset": [278, 287]}, {"key": "extension-of", "type": "clause", "offset": [302, 314]}, {"key": "date-of", "type": "clause", "offset": [327, 334]}, {"key": "issued-by", "type": "definition", "offset": [354, 363]}, 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Credit issued by it hereunder as and when provided in Section 2.05 are each subject to the satisfaction (or waiver in accordance with the terms hereof) of the following conditions:\n(a) the fact that the Closing Date shall have occurred;\n(b) receipt by the Administrative Agent of notice of the relevant Credit Event as required by Section 2.02 or 2.05(c), as the case may be;\n(c) the fact that, immediately before and after such Credit Event, no Default shall have occurred and be continuing;\n(d) the fact that each of the representations and warranties made by any of the Borrowers in or pursuant to any Financing Document to which it is a party shall be true on and as of the date of such Credit Event as if made on and as of such date, unless such representation or warranty was expressly made solely as of an earlier date, in which case such representation or warranty was true and correct on such earlier date;\n(e) no order, judgment or decree of any court (including, without limitation, the Court), arbitrator or governmental authority shall purport to enjoin or restrain such Lender from making any such Loan or extending or issuing any such Letter of Credit on the date of such Credit Event;\n(f) immediately after giving effect to such Credit Event, the limitations on borrowing set forth in Section 2.01(c) shall have been complied with;\n(g) the making of the Loans requested in connection with any such Borrowing shall not violate any law including Regulation T, Regulation U or Regulation X of the Board of Governors of the Federal Reserve System;\n(h) no pleading, application or objection sought by any party in interest (including any Existing Lender) shall have been filed with and granted by the Court (or shall have been filed with the Court by or on behalf of an official committee of creditors) which has not been withdrawn, stayed, dismissed or denied seeking (i) to dismiss or convert any of the Chapter 11 Cases to cases under Chapter 7 of the Bankruptcy Code, (ii) the appointment of a Chapter 11 trustee in any of the Chapter 11 Cases or of a trustee of any Borrower under Chapter 7, (iii) the appointment of an examiner (with expanded powers beyond those set forth in Sections 1106(a)(3) and (4) of the Bankruptcy Code) for any Borrower under Section 1106(b) of the Bankruptcy Code, (iv) the granting of an administrative expense or priority claim or a Lien in either case pari passu or senior to that of the Collateral Agent granted pursuant to the Collateral Documents, the Interim Borrowing Order and the Borrowing Order, other than the Carve-Out, (v) to stay, reverse, vacate, or otherwise modify the Interim Borrowing Order or the Borrowing Order, as the case may be, without the prior written consent of the Agents and Required Lenders, or (vi) relief from the automatic stay (or any other injunction having similar effect) so as to allow a third party to proceed against any property or assets of the Borrowers having an aggregate value in excess of $500,000;\n(i) there shall not be pending or, to the knowledge of any Executive Officer of the Borrowers, threatened, any action, suit, proceeding, governmental investigation or arbitration against or affecting any MHG Company that would be required to be, but has not been, disclosed by the Borrowers in writing pursuant to Section 4.06 or 5.01(h) prior to the making of the last preceding Loans (or, in the case of the initial Loans, prior to the execution of this Agreement), and there shall have occurred no development not so disclosed in any such action, suit, proceeding, governmental investigation or arbitration whether or not required to be so disclosed, that, in either event, in the opinion of Required Lenders, in any manner questions the validity of any Financing Document or could be expected to have a Material Adverse Effect or in which there is a reasonable possibility of an adverse decision that could be expected to have a Material Adverse Effect seeking to enjoin or otherwise prevent the consummation of, or to recover any damages or obtain relief as a result of, the transactions contemplated by this Agreement or the making of Loans hereunder; and\n(j) The Interim Borrowing Order and/or the Borrowing Order, as the case may be, shall be Final Orders. Each Credit Event under this Agreement shall be deemed to be a representation and warranty by the Borrowers on the date of such Credit Event that all of the conditions set forth in this Section 3.02 have been satisfied and that each certification contained in the relevant Notice of Borrowing or LC Request, as the case may be, is true, correct and complete on the date of such Credit Event.", "hash": "154f05c84375446b65374b8a0fda7970", "id": 8}, {"size": 1, "snippet_links": [{"key": "each-credit-event", "type": "clause", "offset": [0, 17]}, {"key": "by-the-borrower", "type": "clause", "offset": [51, 66]}, {"key": "date-of", "type": "clause", "offset": [102, 109]}, {"key": "giving-of-notice", "type": "clause", "offset": [114, 130]}, {"key": "relating-to", "type": "definition", "offset": [131, 142]}, {"key": "the-administrative-agent", "type": "clause", "offset": [205, 229]}, {"key": "prior-to-the", "type": "clause", "offset": [230, 242]}, {"key": "default-shall", "type": "definition", "offset": [352, 365]}, {"key": "the-representations-and-warranties", "type": "clause", "offset": [407, 441]}, {"key": "loan-party", "type": "definition", "offset": [493, 503]}, {"key": "the-loan-documents", "type": "clause", "offset": [507, 525]}, {"key": "a-party", "type": "clause", "offset": [541, 548]}, {"key": "true-and-correct", "type": "clause", "offset": [559, 575]}, {"key": "force-and-effect", "type": "clause", "offset": [590, 606]}, {"key": "except-to-the-extent", "type": "clause", "offset": [641, 661]}, {"key": "relate-to", "type": "definition", "offset": [713, 722]}, {"key": "true-and-accurate", "type": "clause", "offset": [806, 823]}, {"key": "changes-in", "type": "clause", "offset": [871, 881]}, {"key": "factual-circumstances", "type": "clause", "offset": [882, 903]}], "samples": [{"hash": "3KBs9qHggL1", "uri": "/contracts/3KBs9qHggL1#credit-events", "label": "Term Loan Agreement (Federal Realty Investment Trust)", "score": 18.0, "published": true}], "snippet": "Each Credit Event shall constitute a certification by the Borrower to the effect that (both as of the date of the giving of notice relating to such Credit Event and, unless the Borrower otherwise notifies the Administrative Agent prior to the date of such Credit Event, as of the date of the occurrence of such Credit Event)\n(a) no Default or Event of Default shall have occurred and be continuing; and (b) the representations and warranties made or deemed made by the Borrower and each other Loan Party in the Loan Documents to which it is a party, shall be true and correct with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall have been true and accurate on and as of such earlier date) and except for changes in factual circumstances expressly and specifically permitted hereunder.", "hash": "8f4d7a74b2d5ce6f2f9118fb46662ceb", "id": 9}, {"size": 1, "snippet_links": [{"key": "event-of", "type": "definition", "offset": [12, 20]}, {"key": "each-borrower", "type": "clause", "offset": [21, 34]}, {"key": "to-the-extent", "type": "clause", "offset": [58, 71]}, {"key": "satisfaction-of", "type": "clause", "offset": [102, 117]}, {"key": "representation-and-warranty", "type": "definition", "offset": [181, 208]}, {"key": "the-conditions", "type": "clause", "offset": [231, 245]}], "samples": [{"hash": "lPadByv3YiO", "uri": "/contracts/lPadByv3YiO#credit-events", "label": "Credit Agreement (Omnicom Group Inc)", "score": 18.0, "published": true}], "snippet": "Each Credit Event of each Borrower is subject (except and to the extent hereinafter indicated) to the satisfaction of the following conditions with each Credit Event constituting a representation and warranty by such Borrower that the conditions specified in paragraph (c) below are then satisfied:", "hash": "6e79aa4926d362ff31ad88df4f9c0c73", "id": 10}], "next_curs": "ClYSUGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjILEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhZjcmVkaXQtZXZlbnRzIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"children": [["erisa", "ERISA"], ["", ""], ["other-covenants", "Other Covenants"], ["bankruptcy", "Bankruptcy"], ["representations", "Representations"]], "title": "Credit Events", "size": 36, "parents": [["conditions", "Conditions"], ["conditions-to-credit-events", "CONDITIONS TO CREDIT EVENTS"], ["credit-events", "Credit Events"], ["conditions-precedent", "Conditions Precedent"], ["default-and-remedies", "Default and Remedies"]], "id": "credit-events", "related": [["all-credit-events", "All Credit Events", "All <strong>Credit Events</strong>"], ["each-credit-event", "Each Credit Event", "Each Credit Event"], ["first-credit-event", "First Credit Event", "First Credit Event"], ["initial-credit-event", "Initial Credit Event", "Initial Credit Event"], ["conditions-to-each-credit-event", "Conditions to Each Credit Event", "Conditions to Each Credit Event"]], "related_snippets": [], "updated": "2025-07-07T12:37:53+00:00", "also_ask": [], "drafting_tip": "", "explanation": "The Credit Events clause defines specific situations that constitute a default or credit-related incident under a financial contract. Typically, it outlines events such as bankruptcy, failure to pay, or restructuring of obligations by a party, and specifies the criteria and procedures for determining when such an event has occurred. This clause is essential for triggering certain rights or remedies, such as early termination or settlement of the contract, thereby allocating risk and providing clarity on how credit-related issues are managed between the parties."}, "json": true, "cursor": ""}}