Each Draw Sample Clauses

Each Draw. The obligation of each Holder to fund a Draw hereunder is subject to the following conditions being met: (a) The outstanding Commitment of such Holder has not expired or been terminated or reduced to zero; and (b) At the time of and immediately after giving effect to such Draw, no Event of Default or Servicer Default or event the occurrence of which with notice or the lapse of time or both would become an Event of Default or a Servicer Default has occurred and is continuing or would result from such Draw. On each Draw Date, the Issuer shall be deemed to have made a restatement of the representations and warranties by the Issuer set out in Section 3.01 on the date thereof and on the date of the funding of each Draw. On the date of funding of each Draw, the Holders shall be deemed to have made a restatement of the representations and warranties by the Holders set out in Section 3.02.