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

Each Loan or Letter of Credit. At the time of making any Loans or issuing, extending or increasing any Letters of Credit and after giving effect to the proposed extensions of credit: the representations, warranties and covenants of the Borrower shall then be true in all respects (in the case of any representation, warranty or covenant containing a materiality modification) or in all material respects (in the case of any representation, warranty or covenant not containing a materiality modification) and no Event of Default or Potential Default shall have occurred and be continuing; the making of the Loans or issuance, extension or increase of such Letter of Credit shall not contravene any Law applicable to the Borrower or any Subsidiary of the Borrower or any of the Lenders; and the Borrower shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the applicable Issuing Lender an application for a Letter of Credit, as the case may be.

Appears in 3 contracts

Samples: Credit Agreement (Erie Indemnity Co), Credit Agreement (Erie Indemnity Co), Credit Agreement (Erie Indemnity Co)

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Each Loan or Letter of Credit. At the time of making any Loans or issuing, extending or increasing any Letters of Credit and after giving effect to the proposed extensions of credit: (i) the representations, warranties and covenants of the Borrower Loan Parties shall then be true in all respects and correct before and after giving effect to the making of such Loan or the issuance of such Letters of Credit and to the application of the proceeds therefrom, as though made on and as of such date, (in the case of any representation, warranty or covenant containing a materiality modificationii) or in all material respects (in the case of any representation, warranty or covenant not containing a materiality modification) and no Event of Default or Potential Default shall have occurred and be continuing; , (iii) the making of the Loans or issuance, extension or increase of such Letter of Credit shall not contravene any Law applicable to the Borrower any Loan Party or any Subsidiary of the Borrower any Loan Party or any of the Lenders; , and (iv) the Borrower shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the applicable Issuing Lender an application for a Letter of Credit, as the case may be.

Appears in 2 contracts

Samples: Continuing Agreement (Ii-Vi Inc), Credit Agreement (Ii-Vi Inc)

Each Loan or Letter of Credit. At the time of making any Loans or issuing, extending or increasing any Letters of Credit and after giving effect to the proposed extensions of credit: (i) the representations, warranties and covenants of the Borrower Loan Parties shall then be true in all respects and correct (A) in the case of any representationrepresentations and warranties qualified by materiality, warranty or covenant containing a materiality modification) or in all material respects and (B) in the case of any representationother representations and warranties, warranty or covenant not containing a materiality modificationin all material respects, (ii) and no Event of Default or Potential Default shall have occurred and be continuing; , (iii) the making of the Loans or issuance, extension or increase of such Letter of Credit shall not contravene any Law applicable to the Borrower any Loan Party or any Subsidiary of the Borrower any Loan Party or any of the Lenders; and , (iv) the Borrower shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the applicable Issuing Lender an application for a Letter of Credit, as the case may bebe and (v) the Revolving Facility Usage does not exceed the Line Cap at such time.

Appears in 2 contracts

Samples: Credit Agreement (Handy & Harman Ltd.), Credit Agreement (Handy & Harman Ltd.)

Each Loan or Letter of Credit. At the time of making any Loans or issuing, extending or increasing any Letters of Credit and after giving effect to the proposed extensions of credit: (i) the representations, warranties and covenants of the Borrower Loan Parties shall then be true in all respects (in the case of any representation, warranty or covenant containing a materiality modification) or and correct in all material respects respects, provided, however, that to the extent any such representation or warranty is already qualified by materiality or Material Adverse Change, such representation or warranty shall be true and correct in all respects, (in the case of any representation, warranty or covenant not containing a materiality modificationii) and no Event of Default or Potential Default shall have occurred and be continuing; , (iii) the making of the Loans or issuance, extension or increase of such Letter of Credit shall not contravene any Law applicable to the Borrower or any Subsidiary of the Borrower Loan Party or any of the Lenders; , and (iv) the Borrower Borrowers shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the applicable Issuing Lender an application for a Letter of Credit, as the case may be.

Appears in 2 contracts

Samples: Credit Agreement (Johnson Outdoors Inc), Credit Agreement (Johnson Outdoors Inc)

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Each Loan or Letter of Credit. At the time of making any Loans or issuing, extending or increasing any Letters of Credit and after giving effect to the proposed extensions of credit: (i) the representations, representations and warranties and covenants of the Borrower Loan Parties shall then be true in all respects and correct (in before and after giving effect to the case making of such Loans or the issuance, extension or increase of any representationLetter of Credit, warranty or covenant containing a materiality modificationas applicable, and the application of the proceeds of the foregoing), (ii) or in all material respects (in the case of any representation, warranty or covenant not containing a materiality modification) and no Event of Default or Potential Default shall have occurred and be continuing; , (iii) the making of the Loans or issuance, extension or increase of such Letter of Credit shall not contravene any Law applicable to the Borrower any Loan Party or any Subsidiary of the Borrower any Loan Party or any of the Lenders; , and (iv) the Borrower Borrowers shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the applicable Issuing Lender an application for a Letter of Credit, as the case may be.

Appears in 1 contract

Samples: Refinancing Credit Agreement (Westinghouse Air Brake Technologies Corp)

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