Common use of Subsequent Borrowing Clause in Contracts

Subsequent Borrowing. The obligation of the Bank to make each Loan to be made by it hereunder (including the initial Loan) is subject to the following conditions precedent: (a) At the time of each Loan (as evidenced by a certificate executed on behalf of the Borrower if the Bank shall so require): (i) The Borrower shall have complied and shall then be in compliance with all the terms, covenants and conditions of this Agreement which are binding on it; (ii) There shall exist no Event of Default as defined in this Agreement or no event (including an event caused by such Loan) which would be an Event of Default but for the requirement that notice be given or time elapse or both; (iii) The representations and warranties contained in this Agreement shall be true and correct as of the date of such Loan; and (iv) There shall have been no material adverse change (in the Bank's reasonable judgment) in the Borrower's financial condition as evidenced by the financial information submitted to the Bank pursuant to this Agreement. (b) All of the Loan Documents shall remain in full force and effect and the validity of any Loan Document shall not have been contested.

Subsequent Borrowing. The obligation of the Bank to make each Loan to be made by it hereunder (including the initial Loan) is subject to the following conditions precedent: (a) At the time of each Loan (as evidenced by a certificate executed on behalf of the Borrower if the Bank shall so require): (i) The Borrower and the Guarantor shall have complied and shall then be in compliance with all the terms, covenants and conditions of this Agreement which are binding on it; (ii) There shall exist no Event of Default as defined in this Agreement or no event (including an event caused by such Loan) which would be an Event of Default but for the requirement that notice be given or time elapse or both; (iii) The representations and warranties contained in this Agreement shall be true and correct as of the date of such Loan; and (iv) There shall have been no material adverse change (in the Bank's reasonable judgment) in the Borrower's financial condition as evidenced by the financial information submitted to the Bank pursuant to this Agreement. (b) All of the Loan Documents shall remain in full force and effect and the validity of any Loan Document shall not have been contested.

Subsequent Borrowing. The obligation of the Bank to make each Loan to be made by it hereunder (including the initial Loan) is subject to the following conditions precedent: (a) At the time of each Loan (as evidenced by a certificate executed on behalf of the Borrower if the Bank shall so require): (i) The Borrower shall have complied and shall then be in compliance in all material respects with all the terms, covenants and conditions of this Agreement which are binding on it; (ii) There shall exist no Event of Default as defined in this Agreement or no event (including an event caused by such Loan) which would be an Event of Default but for the requirement that notice be given or time elapse or both; (iii) The representations and warranties contained in this Agreement shall be true and correct in all material respects as of the date of such Loan; and (iv) There shall have been no material adverse change (in the Bank's reasonable judgment) in the Borrower's financial condition as evidenced by the financial information submitted to the Bank pursuant to this Agreement. (b) All of the Loan Documents shall remain in full force and effect and the validity of any Loan Document shall not have been contested.