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: (a) the representations, warranties of the Loan Parties shall then be true and correct in all material respects (unless qualified by materiality or reference to the absence of a Material Adverse Effect, in which event shall be true and correct), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.2, the representations and warranties contained in Section 6.5 shall be deemed to refer to the most recent statements furnished pursuant to Section 8.1, (b) no Event of Default or Default shall have occurred and be continuing or would result from such Loan or Letter of Credit or the application of the proceeds thereof, (c) the making of the Loans or issuance, extension or increase 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) no Material Adverse Effect shall have occurred since the date of the last audited financial statements of the Borrowers delivered to the Administrative Agent, (e) the Borrowers shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the Issuing Lender an application for a Letter of Credit, as the case may be and (f) solely in the case of any Delayed Draw Term Loan, the Administrative Agent and the Lenders shall have received from the Borrowing Agent a Compliance Certificate demonstrating, in form and substance reasonably satisfactory to the Administrative Agent, that the (1) Consolidated Net Leverage Ratio will be at least 0.50 to 1.00 less than the maximum Consolidated Net Leverage Ratio in effect as of the date of such Loan pursuant to Section 9.16(a) (including any adjustment based on a Material Acquisition), based on the financial statements most recently delivered pursuant to Section 8.1(a) or 8.1(b), as applicable, both before and after giving effect (on a pro forma basis) to such Delayed Draw Term Loan. Each Loan Request and Letter of Credit application shall be deemed to be a representation that the conditions specified in Section 7.1 and this Section 7.2 have been satisfied on or prior to the date thereof.

Appears in 1 contract

Samples: Credit Agreement (Construction Partners, 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: (a) the representations, warranties of the Loan Parties shall then be true and correct in all material respects (unless qualified by materiality or reference to the absence of a Material Adverse EffectChange, in which event shall be true and correct), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (unless qualified by materiality or reference to the absence of a Material Adverse Change, in which event shall be true and correct) as of such earlier date, and except that for purposes of this Section 7.2, the representations and warranties contained in Section 6.5 6.6 [Financial Statements] shall be deemed to refer to the most recent statements furnished pursuant to Section 8.18.12 [Reporting Requirements], (b) no Event of Default or Potential Default shall have occurred and be continuing or would result from such Loan or Letter of Credit or the application of the proceeds thereof, (c) the making of the Loans or issuance, extension or increase 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) no Material Adverse Effect Change shall have occurred since the date of the last audited financial statements of the Borrowers REIT Guarantor delivered to the Administrative Agent, (e) the Borrowers OP Borrower shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the Issuing Lender an application for a Letter of Credit, as the case may be and (f) solely in the case of any Delayed Draw Term Loan, OP Borrower shall have delivered to the Administrative Agent and a Borrowing Base Certificate confirming that after making the Lenders shall have received from requested Loan or the issuance of the requested Letter of Credit, the Revolving Facility Usage does not exceed the Borrowing Agent a Compliance Certificate demonstrating, in form and substance reasonably satisfactory to the Administrative Agent, that the (1) Consolidated Net Leverage Ratio will be at least 0.50 to 1.00 less than the maximum Consolidated Net Leverage Ratio in effect as of the date of such Loan pursuant to Section 9.16(a) (including any adjustment based on a Material Acquisition), based on the financial statements most recently delivered pursuant to Section 8.1(a) or 8.1(b), as applicable, both before and after giving effect (on a pro forma basis) to such Delayed Draw Term LoanBase Amount. Each Loan Request and Letter of Credit application shall be deemed to be a representation that the conditions specified in Section 7.1 [Initial Loans and Letters of Credit] and this Section 7.2 have been satisfied on or prior to the date thereof.

Appears in 1 contract

Samples: Credit Agreement (Aimco OP L.P.)

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: (ai) the representations, representations and warranties of the Loan Parties shall then be true and correct (a) in the case of representations and warranties qualified by materiality, in all respects and (b) otherwise, in all material respects (unless qualified by materiality or reference to the absence of a Material Adverse Effectrespects, in which event shall be true each case on and correct), as of such date as if made on and as of such date (except to the extent that such representations and warranties specifically refer relate to an earlier date, date in which case they shall be such representations and warranties that expressly relate to an earlier date are true and correct correct, in the case of such representations and warranties qualified by materiality, in all respects, and otherwise in all material respects, as of such earlier date, and except that for purposes of this Section 7.2, the representations and warranties contained in Section 6.5 shall be deemed to refer to the most recent statements furnished pursuant to Section 8.1), (bii) no Event of Default or Potential Default shall have occurred and be continuing or would result from such Loan or Letter of Credit or the application of the proceeds thereofcontinuing, (ciii) the making of the Loans or issuance, extension or increase 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) no Material Adverse Effect shall have occurred since the date of the last audited financial statements of the Borrowers delivered to the Administrative Agent, (eiv) the Borrowers shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the applicable Issuing Lender (with a copy to the Administrative Agent) an application for a Letter of Credit, as the case may be be, and (fv) solely in the case of any Delayed Draw Term LoanLoan or Letter of Credit to be denominated in an Optional Currency or Available LC Foreign Currency, as the Administrative Agent and case may be, there shall not have occurred any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which in the Lenders shall have received from the Borrowing Agent a Compliance Certificate demonstrating, in form and substance reasonably satisfactory to reasonable opinion of the Administrative Agent, that the Required Lenders (1) Consolidated Net Leverage Ratio will in the case of any Loans to be at least 0.50 to 1.00 less than the maximum Consolidated Net Leverage Ratio denominated in effect as of the date of such Loan pursuant to Section 9.16(a) (including any adjustment based on a Material Acquisition), based on the financial statements most recently delivered pursuant to Section 8.1(aan Optional Currency) or 8.1(b), as applicable, both before and after giving effect the applicable Issuing Lender (on a pro forma basis) to such Delayed Draw Term Loan. Each Loan Request and in the case of any Letter of Credit application shall be deemed to be a representation that denominated in an Available LC Foreign Currency) would make it impracticable for such Loan or Letter of Credit to be denominated in the conditions specified in Section 7.1 and this Section 7.2 have been satisfied on relevant Optional Currency or prior to Available LC Foreign Currency, as the date thereofcase may be.

Appears in 1 contract

Samples: Credit Agreement (Gp Strategies Corp)

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: (a) the representations, representations and warranties of the Loan Parties in the Loan Documents shall then be true and correct in all material respects (unless qualified by materiality or reference to the absence of a Material Adverse EffectChange, in which event shall be true and correct), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.27.3, the representations and warranties contained in Section 6.5 6.6 [Financial Statements] shall be deemed to refer to the most recent statements furnished pursuant to Section 8.18.12 [Reporting Requirements], (b) no Event of Default or Potential Default shall have occurred and be continuing or would result from such Loan or Letter of Credit or the application of the proceeds thereofthereof (subject to Section 1.7 [Limited Condition Acquisitions]), (c) the making of the Loans or issuance, extension or increase 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) no Material Adverse Effect Change shall have occurred since the date of the last audited financial statements of the Borrowers each Borrower delivered to the Administrative Agent, (e) the Borrowers a Borrower shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the Issuing Lender an application for a Letter of Credit, as the case may be be, and (f) solely in the case of any Delayed Draw Term LoanLoan to be denominated in an Alternative Currency, there shall not have occurred any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which in the reasonable opinion of the Administrative Agent and or the Required Lenders shall have received from the Borrowing Agent a Compliance Certificate demonstrating, in form and substance reasonably satisfactory to the Administrative Agent, that the (1) Consolidated Net Leverage Ratio will be at least 0.50 to 1.00 less than the maximum Consolidated Net Leverage Ratio in effect as of the date of would make it impracticable for such Loan pursuant to Section 9.16(a) (including any adjustment based on a Material Acquisition), based on be denominated in the financial statements most recently delivered pursuant to Section 8.1(a) or 8.1(b), as applicable, both before and after giving effect (on a pro forma basis) to such Delayed Draw Term Loanrelevant Alternative Currency. Each Loan Request and Letter of Credit application shall be deemed to be a representation that the conditions specified in Section 7.1 [Initial Loans and Letters of Credit] or Section 7.2 [Delayed Draw Term Loan Conditions], as applicable, and this Section 7.2 7.3 have been satisfied on or prior to the date thereof.

Appears in 1 contract

Samples: Credit Agreement (ICF International, 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: (a) the representations, representations and warranties of the Loan Parties shall then be true and correct in all material respects (unless qualified by materiality or reference to the absence of a Material Adverse Effect, in which event such representations and warranties shall be true and correct), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date (unless qualified by materiality or reference to the absence of a Material Adverse Effect, in which event shall be true and correct as of such earlier date), and except that for purposes of this Section 7.26.2, the representations and warranties contained in Section 6.5 5.6 [Financial Statements] shall be deemed to refer to the most recent statements furnished pursuant to Section 8.17.12 [Reporting Requirements], (b) no Event of Default or Potential Default shall have occurred and be continuing or would result from such Loan or Letter of Credit or the application of the proceeds thereof, (c) the making of the Loans or issuance, extension or increase 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, thereof and (d) no Material Adverse Effect shall have occurred since the date of the last audited financial statements of the Borrowers delivered to the Administrative Agent, (e) the Borrowers 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; provided that no Loan shall be and (f) solely in the case of any Delayed Draw Term Loan, the Administrative Agent and the Lenders shall have received from the Borrowing Agent a Compliance Certificate demonstrating, in form and substance reasonably satisfactory to the Administrative Agent, that the (1) Consolidated Net Leverage Ratio will be at least 0.50 to 1.00 less than the maximum Consolidated Net Leverage Ratio in effect as of the date of such Loan pursuant to Section 9.16(a) (including any adjustment based on a Material Acquisition), based on the financial statements most recently delivered pursuant to Section 8.1(a) or 8.1(b), as applicable, both before and made if after giving effect thereto (on a pro forma basisx) to such Delayed Draw Term Loanthe sum of all outstanding Loans and Letter of Credit Obligations (other than undrawn Letters of Credit) would exceed 25% of the Revolving Credit Commitments and (y) Unrestricted Cash of the Borrower and its Subsidiaries would exceed $150,000,000. Each Loan Request and Letter of Credit application shall be deemed to be a representation that the conditions specified in Section 7.1 and this Section 7.2 6.2 have been satisfied on or prior to the date thereof.

Appears in 1 contract

Samples: Credit Agreement (Peabody Energy Corp)

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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: (a) the representations, representations and warranties of the Loan Parties shall then be true and correct in all material respects (unless qualified by materiality or reference to the absence of a Material Adverse EffectChange, in which event shall be true and correct), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (unless qualified by materiality or reference to the absence of a Material Adverse Change, in which event shall be true and correct) as of such earlier date, and except that for purposes of this Section 7.2, the representations and warranties contained in Section 6.5 6.6 [Financial Statements] shall be deemed to refer to the most recent statements furnished pursuant to Section 8.18.12 [Reporting Requirements], (b) no Event of Default or Potential Default shall have occurred and be continuing or would result from such Loan or Letter of Credit or the application of the proceeds thereof, (c) the making of the Loans or issuance, extension or increase 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) no Material Adverse Effect Change shall have occurred since the date of the last audited financial statements of the Borrowers REIT Guarantor delivered to the Administrative Agent, and (e) the Borrowers Borrower shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the an Issuing Lender an application for a Letter of Credit, as the case may be and (f) solely in the case of any Delayed Draw Term Loan, the Administrative Agent and the Lenders shall have received from the Borrowing Agent a Compliance Certificate demonstrating, in form and substance reasonably satisfactory to the Administrative Agent, that the (1) Consolidated Net Leverage Ratio will be at least 0.50 to 1.00 less than the maximum Consolidated Net Leverage Ratio in effect as of the date of such Loan pursuant to Section 9.16(a) (including any adjustment based on a Material Acquisition), based on the financial statements most recently delivered pursuant to Section 8.1(a) or 8.1(b), as applicable, both before and after giving effect (on a pro forma basis) to such Delayed Draw Term Loanbe. Each Loan Request requesting the Lenders to make Revolving Credit Loans or Incremental Loans and each Letter of Credit application shall be deemed to be a representation that the conditions specified in Section 7.1 [Initial Loans and Letters of Credit] and this Section 7.2 have been satisfied on or prior to the date thereof.

Appears in 1 contract

Samples: Credit Agreement (Aimco Properties L.P.)

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 creditthereof: (ai) the representations, representations and warranties of the Loan Parties Borrower shall then be true and correct in all material respects (unless qualified by materiality or reference to the absence of a Material Adverse EffectChange, in which event they shall be true and correct), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.2, the representations and warranties contained in Section 6.5 6.6 [Financial Statements] shall be deemed to refer to the most recent statements furnished pursuant to Section 8.18.11 [Reporting Requirements], (bii) no Event of Default or Potential Default shall have occurred and be continuing or would result from such Loan or Letter of Credit or the application of the proceeds thereof, (ciii) the making of the Loans or issuance, extension or increase of such Letter of Credit shall not contravene any Law applicable to any Loan Party the Borrower or Subsidiary of any Loan Party the Borrower or any of the Lenders, (d) no Material Adverse Effect shall have occurred since the date of the last audited financial statements of the Borrowers delivered to the Administrative Agent, (eiv) the Borrowers Borrower shall have delivered to the Administrative Agent a duly executed and completed Revolving Credit Loan Request, Swing Loan Request or to Exhibit 10.1 the Issuing Lender an application for a Letter of Credit, as the case may be and (fv) solely in the case of with respect to any Delayed Draw Term Green Loan, such Revolving Credit Loan Request shall provide a certification by the Administrative Agent and the Lenders shall have received from the Borrowing Agent a Compliance Certificate demonstrating, in form and substance reasonably satisfactory Borrower certifying as to the Administrative Agent, that the use of proceeds of such Green Loan (1) Consolidated Net Leverage Ratio will be at least 0.50 to 1.00 less than the maximum Consolidated Net Leverage Ratio in effect as including a description of the date use thereof by type of Specified Green Investment Project) and certifying such Loan pursuant to Section 9.16(a) (including any adjustment based on a Material Acquisition), based on use is consistent with the financial statements most recently delivered pursuant to Section 8.1(a) or 8.1(b), as applicable, both before and after giving effect (on a pro forma basis) to such Delayed Draw Term LoanGLP. Each Revolving Credit Loan Request, Swing Loan Request and Letter of Credit application shall be deemed to be a representation that the conditions specified set forth in Section Sections 7.1 and this Section 7.2 have been satisfied on or prior to the date thereof.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Utilities Corp)

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 creditthereof: (ai) the representations, representations and warranties of the Loan Parties Borrower shall then be true and correct in all material respects (unless qualified by materiality or reference to the absence of a Material Adverse EffectChange, in which event they shall be true and correct), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.2, the representations and warranties contained in Section 6.5 6.6 [Financial Statements] shall be deemed to refer to the most recent statements furnished pursuant to Section 8.18.11 [Reporting Requirements], (bii) no Event of Default or Potential Default shall have occurred and be continuing or would result from such Loan or Letter of Credit or the application of the proceeds thereof, (ciii) the making of the Loans or issuance, extension or increase of such Letter of Credit shall not contravene any Law applicable to any Loan Party the Borrower or Subsidiary of any Loan Party the Borrower or any of the Lenders, (d) no Material Adverse Effect shall have occurred since the date of the last audited financial statements of the Borrowers delivered to the Administrative Agent, (eiv) the Borrowers Borrower shall have delivered to the Administrative Agent a duly executed and completed Revolving Credit Loan Request, Swing Loan Request or to the Issuing Lender an application for a Letter of Credit, as the case may be and (fv) solely in the case of with respect to any Delayed Draw Term Green Loan, such Revolving Credit Loan Request shall provide a certification by the Administrative Agent and the Lenders shall have received from the Borrowing Agent a Compliance Certificate demonstrating, in form and substance reasonably satisfactory Borrower certifying as to the Administrative Agent, that the use of proceeds of such Green Loan (1) Consolidated Net Leverage Ratio will be at least 0.50 to 1.00 less than the maximum Consolidated Net Leverage Ratio in effect as including a description of the date use thereof by type of Specified Green Investment Project) and certifying such Loan pursuant to Section 9.16(a) (including any adjustment based on a Material Acquisition), based on use is consistent with the financial statements most recently delivered pursuant to Section 8.1(a) or 8.1(b), as applicable, both before and after giving effect (on a pro forma basis) to such Delayed Draw Term LoanGLP. Each Revolving Credit Loan Request, Swing Loan Request and Letter of Credit application shall be deemed to be a representation that the conditions specified set forth in Section Sections 7.1 and this Section 7.2 have been satisfied on or prior to the date thereof.. Exhibit 10.1

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Utilities Corp)

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