Common use of Each Additional Loan or Letter of Credit Clause in Contracts

Each Additional Loan or Letter of Credit. At the time of making any Loans or issuing any Letters of Credit other than Loans made or Letters of Credit issued on the Closing Date and after giving effect to the proposed extensions of credit: the representations and warranties of the Loan Parties contained in Article V and in the other Loan Documents shall be true on and as of the date of such additional Loan or Letter of Credit with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which expressly relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or times referred to therein) and the Loan Parties shall have performed and complied with all covenants and conditions hereof; no Event of Default or Potential Default shall have occurred and be continuing or shall exist; the making of the Loans or issuance of such Letter of Credit shall not contravene any Law applicable to any Loan Party or Subsidiary of any Loan Party or any of the Lenders; the Borrower shall have delivered to the Agent a duly executed and completed Loan Request or application for a Letter of Credit as the case may be; and the Loan Parties shall have delivered to the Agent for the benefit of the Lenders duly executed and completed Security Documents, and such Ancillary Security Documents as are appropriate at such time, to the extent not previously provided. Each Loan Request and application for a Letter of Credit submitted by Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section 6.02 have been satisfied on and as of the date of the applicable Loan Request or application for Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Too Inc)

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Each Additional Loan or Letter of Credit. At the time of making any Loans or issuing any Letters of Credit other than Loans made or Letters of Credit issued on the Closing Date and after giving effect to the proposed extensions of credit: (a) the representations and warranties of the Loan Parties contained in Article V and in the other Loan Documents shall be true in all material respects on and as of the date of such additional Loan or Letter of Credit with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which expressly relate solely to an earlier date or time, which representations and warranties shall be true and correct in all material respects on and as of the specific dates or times referred to therein), provided that any representation and warranty which is qualified as to “materiality”, “Material Adverse Change” or similar language shall be true and correct in all respects as written; (b) and the Loan Parties shall have performed and complied with all covenants and conditions hereof; no Event of Default or Potential Default shall have occurred and be continuing or shall exist; (c) the making of the Loans or issuance of such Letter of Credit shall not contravene any Law applicable to any Loan Party or Subsidiary of any Loan Party or any of the Lenders; (d) the Borrower shall have delivered to the Agent a duly executed and completed Loan Request or application for a Letter of Credit as the case may be; be and (e) the Loan Parties shall have delivered to the Agent for the benefit of the Lenders duly executed and completed Security Documents, Documents and such Ancillary Security Documents as are appropriate at such time, to the extent not previously provided. Each Loan Request and application for a Letter of Credit submitted by Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section 6.02 have been satisfied on and as of the date of the applicable Loan Request or application for Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Tween Brands, Inc.)

Each Additional Loan or Letter of Credit. At the time of making any Loans or issuing any Letters of Credit other than Loans made or Letters of Credit issued on the Closing Date and after giving effect to the proposed extensions of credit: (a) the representations and warranties of the Loan Parties contained in Article V Section 5 and in the other Loan Documents shall be true on and as of the date of such additional Loan or Letter of Credit Credit, in all material respects, with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which expressly relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or times referred to therein) and the Loan Parties shall have performed and complied with all covenants and conditions hereofhereof in all material respects; no Event of Default or Potential Default shall have occurred and be continuing or shall exist; the making of the Loans or issuance of such Letter of Credit shall not contravene any Law applicable to any Loan Party or Subsidiary of any Loan Party or any of the LendersBanks in any material respect; and the Borrower Borrowers shall have delivered to the Agent a duly executed and completed Loan Request or application for a Letter of Credit as the case may be, (b) the Agent shall have received such other documentation concerning such matters as reasonably requested by, and be in form and substance reasonably satisfactory to, the Agent; and (c) the Loan Parties Agent and the Banks shall have received and shall be reasonably satisfied (both as to form and substance) with the Borrowing Base Certificate last delivered to the Banks. The acceptance of the proceeds of each borrowing of Loans shall constitute a representation and warranty by each Loan Party to each of the Banks that all of the applicable conditions specified in Section 6.2 (in each case disregarding any reference therein that such condition be deemed satisfactory by the Agent and/or the Banks) have been satisfied or waived. All of the certificates and other documents and papers referred to in this Section 6.2, unless otherwise specified, shall be delivered to the Agent at the Principal Office (or such other location as may be specified by the Agent) for the benefit account of each of the Lenders duly executed Banks and completed Security Documents, in sufficient counterparts for each of the Banks and such Ancillary Security Documents as are appropriate at such time, shall be satisfactory in form and substance to the extent not previously provided. Each Loan Request and application for a Letter of Credit submitted by Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section 6.02 have been satisfied on and as of the date of the applicable Loan Request or application for Letter of CreditAgent.

Appears in 1 contract

Samples: Pledge Agreement (Internet Capital Group Inc)

Each Additional Loan or Letter of Credit. At the time of making any Loans or issuing any Letters of Credit other than Loans made or Letters of Credit issued on the Closing Date and after giving effect to the proposed CREDIT AGREEMENT extensions of credit: (a) the representations and warranties of the Loan Parties contained in Article V Section 6 and in the other Loan Documents shall be true on and as of the date of such additional Loan or Letter of Credit Credit, in all material respects, with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which expressly relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or times referred to therein) and the Loan Parties shall have performed and complied with all covenants and conditions hereofhereof in all material respects; no Event of Default or Potential Default shall have occurred and be continuing or shall exist; the making of the Loans or issuance of such Letter of Credit shall not contravene any Law applicable to any Loan Party or Subsidiary of any Loan Party or any of the LendersBanks in any material respect; and the Borrower Borrowers shall have delivered to the Administrative Agent a duly executed and completed Revolving Credit Loan Request, Line of Credit Loan Request or application for a Letter of Credit Credit, as the case may be, (b) the Administrative Agent shall have received such other documentation concerning such matters as reasonably requested by, and be in form and substance reasonably satisfactory to, the Administrative Agent; and (c) the Loan Parties Administrative Agent and the Banks shall have received and shall be reasonably satisfied (both as to form and substance) with a Borrowing Base Certificate delivered to the Agent for the benefit Banks within three (3) Business Days of the Lenders duly executed and completed Security Documents, and date of such Ancillary Security Documents as are appropriate at such time, to the extent not previously provided. Each additional Loan Request and application for a or Letter of Credit submitted by Borrower Credit. The acceptance of the proceeds of each borrowing of Loans shall be deemed to be constitute a representation and warranty by each Loan Party to each of the Banks that all of the applicable conditions specified in this Section 6.02 7.3 (in each case disregarding any reference therein that such condition be deemed satisfactory by the Administrative Agent and/or the Banks) have been satisfied on and as or waived. All of the date certificates and other documents and papers referred to in this Section 7.3, unless otherwise specified, shall be delivered to the Administrative Agent at the Principal Office (or such other location as may be specified by the Administrative Agent) for the account of each of the applicable Loan Request or application Banks and in sufficient counterparts for Letter each of Creditthe Banks and shall be satisfactory in form and substance to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Internet Capital Group Inc)

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Each Additional Loan or Letter of Credit. At the time of making any Loans or issuing any Letters of Credit other than Loans made or Letters of Credit issued on the Closing Date and after giving effect to the proposed extensions of credit: (a) the representations and warranties of the Loan Parties contained in Article V Section 6 and in the other Loan Documents shall be true on and as of the date of such additional Loan or Letter of Credit with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which expressly relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or times referred to therein) and the Loan Parties shall have performed and complied with all covenants and conditions hereof; no Event of Default or Potential Default shall have occurred and be continuing or shall exist; the making of the Loans or issuance of such Letter of Credit shall not contravene any Law applicable to any Loan Party or Subsidiary of any Loan Party or any of the LendersBanks; and the Borrower shall have delivered to the Agent a duly executed and completed Loan Request or application for a Letter of Credit as the case may be; (b) the Agent shall have received such documentation and opinion or opinions, addressed to each of the Banks from (i) such counsel to each Loan Party as reasonably requested by the Agent and (ii) appropriate local counsel, which opinions shall cover such matters as reasonably requested by, and be in form and substance reasonably satisfactory to, the Agent; and (c) the Agent and the Loan Parties Banks shall have received and shall be reasonably satisfied (both as to form and substance) with the Borrowing Base Certificate last delivered to the Banks. The acceptance of the proceeds of each borrowing of Loans shall constitute a representation and warranty by each Loan Party to each of the Banks that all of the applicable conditions specified in Section 7.2 (in each case disregarding any reference therein that such condition be deemed satisfactory by the Agent and/or the Banks) have been satisfied or waived. All of the certificates, legal opinions and other documents and papers referred to in this Section 7.2, unless otherwise specified, shall be delivered to the Agent at the Agent's Office (or such other location as may be specified by the Agent) for the benefit account of each of the Lenders duly executed Banks and completed Security Documents, in sufficient counterparts for each of the Banks and such Ancillary Security Documents as are appropriate at such time, shall be satisfactory in form and substance to the extent not previously provided. Each Loan Request and application for a Letter of Credit submitted by Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section 6.02 have been satisfied on and as of the date of the applicable Loan Request or application for Letter of CreditAgent.

Appears in 1 contract

Samples: Credit Agreement (Standard Automotive Corp)

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