Initial and Subsequent Extensions of Credit. The obligation of the Lenders to make any Loan or otherwise extend any credit to the Borrowers upon the occasion of each borrowing or other extension of credit hereunder (including the initial borrowing) is subject to the further conditions precedent that, both immediately prior to the making of such Loan or other extension of credit and also after giving effect thereto and to the intended use thereof:
Initial and Subsequent Extensions of Credit. The obligation of any Bank, which shall be on an UNCOMMITTED AND ABSOLUTELY DISCRETIONARY basis, to make any Loan, issue any Letter of Credit or otherwise extend any credit to the Company upon the occasion of each borrowing, issuance or other extension of credit hereunder (including the initial Loan, Letter of Credit or other extension of credit) is subject to the further conditions precedent that, both immediately prior to the making of such Loan, issuance of such Letter of Credit or other extension of credit and also after giving effect thereto and to the intended use thereof: (a) no Default exists and the Required Banks shall not have made a demand for payment of and Cash Collateral (if applicable) for any Loan Obligations; (b) the representations and warranties made by the Company in Section 7 hereof, and by each Obligor in each of the other Basic Documents to which it is a party, shall be true and correct in all material respects on and as of the date of the making of such Loan, issuance of such Letter of Credit or other extension of credit (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) with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); (c) the aggregate outstanding principal amount of the Credit Exposure shall not exceed the lesser of (x) the Borrowing Base and (y) the Revolving Loan Line Portions; and (d) following a Conversion to Approving Banks Funding Date, no Approving Bank’s Credit Exposure shall exceed such Approving Bank’s Revolving Loan Line Portion. Each Borrowing Request or request for the issuance of a Letter of Credit by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice or request and, unless the Company otherwise notifies the Agent prior to the date of such borrowing or issuance as of the date of such borrowing or issuance).
Initial and Subsequent Extensions of Credit. The obligation of each Lender to make a Loan (including an Incremental Loan), and of each Issuing Lender to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following conditions:
Initial and Subsequent Extensions of Credit. The obligation of any Lender to make any Loan or otherwise extend credit to the Company upon the occasion of each borrowing or other extension of credit hereunder is subject to the further conditions precedent that, both immediately prior to the making of such Loan or other extension of credit and also after giving effect thereto and to the intended use thereof: (a) no Default shall have occurred and be continuing; and (b) the representations and warranties made by the Company in Section 8 hereof, and by each Obligor in each of the other Basic Documents to which it is a party, shall be true and complete on and as of the date of the making of such Loan or other extension of credit with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date).
Initial and Subsequent Extensions of Credit. The obligation of each Lender to make any Loan (including the initial Loan) or the obligation of the Facing Bank to issue any Letter of Credit hereunder is subject to the further conditions precedent that, both immediately prior to such Loan, or the issuance of such Letter of Credit, and also after giving effect thereto:
Initial and Subsequent Extensions of Credit. The obligation of Lender to advance any proceeds of the Loan, which advance, at Lender's election, may be required to be made through an escrow with a title insurance company, is subject to the further satisfaction of the following conditions precedent (both immediately prior to the making of such advance and also after giving effect thereto and to the intended use thereof), each of which shall be satisfactory to Lender:
Initial and Subsequent Extensions of Credit. The agreement of the Lender to make any Loan or otherwise extend any credit to the Company pursuant to a Letter of Credit or a Lease Guaranty upon the occasion of each borrowing or such extension of credit hereunder is subject to the further conditions precedent that, both immediately prior to the making of such Loan or such extension of credit and also after giving effect thereto and to the intended use thereof: (a) no Default shall have occurred and be continuing; and (b) the representations and warranties made by the Company in Section 8 hereof, and by each Obligor in each of the other Basic Documents to which it is a party, shall be true and complete on and as of the date of the making of such Loan or such extension of credit with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date). Each notice of borrowing or request for a Lease Guaranty or a Letter of Credit by the Company hereunder shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice or request and, unless the Company otherwise notifies the Lender prior to the date of such borrowing or issuance, as of the date of such borrowing or issuance).
Initial and Subsequent Extensions of Credit. The obligation of the Lender to make any Loan hereunder (including the initial Loans), and the Company's right to convert Facility A Loans into the Facility A Term Loan pursuant to Section 2.12., are each subject to the further condition precedent that, both immediately prior to the making of such Loan, or the conversion of such Loans, and also after giving effect thereto:
Initial and Subsequent Extensions of Credit. The obligation of the Lenders to make any Loan, including, without limitation, the obligation to create and discount any Bankers' Acceptance, or otherwise extend any credit to the Borrowers upon the occasion of each borrowing or other extension of credit hereunder (including the initial borrowing, the borrowing to be made on the Term B Loan Closing Date, and the borrowing to be made on the Term B-1 Loan Closing Date) is subject to the further conditions precedent that, both immediately prior to the making of such Loan or creation and discount of such Bankers' Acceptance or other extension of credit and also after giving effect thereto and to the intended use thereof:
Initial and Subsequent Extensions of Credit. The obligation of any Lender to make any Loan (including such Lender's initial Loan) or otherwise extend any credit to the Company upon the occasion of each borrowing or other extension of credit under this Agreement is subject to the further conditions precedent that, both immediately prior to the making of such Loan or other extension of credit and also after giving effect to, and to the intended use of, such Loan or other extension: (a) no Default shall have occurred and be continuing; (b) the representations and warranties made by the Company in Section 7, and by the Company in each of the other Basic Documents to which it is a party, shall be true and complete on and as of the date of the making of such Loan or other extension of credit with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); and (c) the aggregate principal amount of the Revolving Credit Loans borrowed on such occasion together with the aggregate face amount of all Letters of Credit issued on such occasion shall not (subject to the right of the Administrative Agent to make Discretionary Extensions pursuant to Section 2.02(c)) exceed the availability under the Borrowing Base as reflected in the most recent Borrowing Base Certificate delivered pursuant to Section 8.01(f). Each notice of borrowing or request for the issuance of a Letter of Credit by the Company shall constitute a certification by the Company to the effect set forth in the preceding sentence (both as of the date of such notice or request and, unless the Company otherwise notifies the Administrative Agent prior to the date of such borrowing or issuance, as of the date of such borrowing or issuance).
