Common use of Conditions Precedent to Each Borrowing Clause in Contracts

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that (i) in the case of the making of an Advance, the Administrative Agent shall have received the written confirmatory Notice of Borrowing with respect thereto, and (ii) on the date of such Borrowing, the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Company of the proceeds of such Borrowing shall constitute a representation and warranty by the Company that, on the date of such Borrowing, such statements are true):

Appears in 6 contracts

Samples: Credit Agreement (Progress Energy Inc), Credit Agreement (Progress Energy Inc), Credit Agreement (Progress Energy Inc)

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Conditions Precedent to Each Borrowing. The obligation of each Lender Bank to make an Advance on the occasion of each in connection with any Borrowing (including without limitation, the initial Borrowing) shall be subject to the further conditions precedent that (i) in the case of the making of an Advance, the Administrative Agent shall have received the written confirmatory Notice of Borrowing with respect thereto, and (ii) on the date of such Borrowing, (i) Administrative Agent shall have received a Notice of Contract Borrowing or Notice of Competitive Borrowing, executed and completed by a Financial Officer of the Borrower, and (ii) the following statements shall be true (and each of the giving of the applicable Notice of Contract Borrowing or Notice of Competitive Borrowing and the acceptance by the Company Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Company that, Borrower that on the date of such Borrowing, Borrowing such statements are true):

Appears in 5 contracts

Samples: Assignment and Acceptance Agreement (Union Pacific Resources Group Inc), Toronto Dominion (Union Pacific Resources Group Inc), Credit Agreement (Union Pacific Resources Group Inc)

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance a Loan on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that (i) in on the case date of such Borrowing the making of an Advance, following statements shall be true and the Administrative Agent shall have received for the written confirmatory Notice account of Borrowing with respect theretosuch Lender a certificate signed by a Responsible Officer of the Borrower, and (ii) on dated the date of such Borrowing, the following statements shall be true stating that (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Company Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Company that, Borrower that both on the date of such Borrowing, notice and on the date of such Borrowing such statements are true):

Appears in 4 contracts

Samples: Credit Agreement (Crestview Partners III GP, L.P.), Credit Agreement (U.S. Well Services, Inc.), Credit Agreement (U.S. Well Services, Inc.)

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each a Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that (ix) in the case of the making of an Advance, the Administrative Agent shall have received the written confirmatory a Notice of Borrowing with respect thereto, thereto in accordance with Section 2.02 and (iiy) on the date of such Borrowing, Borrowing the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Company Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Company that, Borrower that on the date of such Borrowing, Borrowing such statements are true):

Appears in 3 contracts

Samples: Revolving Credit Agreement (Hormel Foods Corp /De/), Credit Agreement (Hormel Foods Corp /De/), Revolving Credit Agreement (Hormel Foods Corp /De/)

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that (ia) in the case of the making of an Advance, the Administrative Agent shall have received the written confirmatory Notice of Borrowing with respect thereto, and (iib) on the date of such any Borrowing, the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Company Borrower of the proceeds of such the Borrowing related thereto shall constitute a representation and warranty by the Company that, Borrower that on the date of such Borrowing, Borrowing such statements are true):

Appears in 2 contracts

Samples: Credit Agreement (Progress Energy Inc), Credit Agreement (Progress Energy Inc)

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that (ia) in the case of the making of an Advance, the Administrative Agent shall have received the written confirmatory Notice of Borrowing with respect thereto, and (iib) on the date of such Borrowing, the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Company Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Company that, Borrower that on the date of such Borrowing, Borrowing such statements are true):

Appears in 2 contracts

Samples: Credit Agreement (Florida Progress Corp), Credit Agreement (Progress Energy Inc)

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each a Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that (ix) in the case of the making of an Advance, the Administrative Agent shall have received the written confirmatory a Notice of Borrowing with respect thereto, thereto in accordance with Section 2.02 and (iiy) on the date of such Borrowing, Borrowing (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Company Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Company that, Borrower that on the date of such Borrowing, Borrowing such statements are true):

Appears in 1 contract

Samples: Hormel Foods Corp /De/

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Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each any Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that (i) in the case of the making of an Advance, the Administrative Agent shall have received the written confirmatory a Notice of Borrowing with respect thereto, thereto in accordance with Section 2.02 and (ii) on the date of such Borrowing, Borrowing the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Company Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Company that, Borrower that on the date of such Borrowing, Borrowing such statements are true):

Appears in 1 contract

Samples: Term Loan Credit Agreement (DXC Technology Co)

Conditions Precedent to Each Borrowing. The obligation of each Appropriate Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) ), shall be subject to the further conditions precedent that (i) in the case of the making of an Advance, the Administrative Agent shall have received the written confirmatory Notice of Borrowing with respect thereto, and (ii) on the date of such Borrowing, the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Company of the proceeds of such Borrowing shall constitute a representation and warranty by the Company that, on the date of such Borrowing, (i) the Required Lenders shall not have notified the Administrative Agent that they believe a Material Adverse Change has occurred and (ii) the following statements shall be true and the Administrative Agent shall have received for the account of such statements are true):Lender a certificate signed by a duly authorized officer of the Borrower, dated the date of such Borrowing or issuance, stating that:

Appears in 1 contract

Samples: Credit Agreement (Trump Entertainment Resorts Holdings Lp)

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each a Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that (ix) in the case of the making of an Advance, the Administrative Agent shall have received the written confirmatory a Notice of Borrowing with respect theretothereto in accordance with Section 2.02, (y) if the Advance is to be made to a Designated Subsidiary, the conditions set forth in Section 2.18(b) with respect to such Designated Subsidiary shall have been satisfied, and (iiz) on the date of such Borrowing, Borrowing the following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the Company relevant Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Company that, that on the date of such Borrowing, Borrowing such statements are true):

Appears in 1 contract

Samples: Credit Agreement (Steelcase Inc)

Conditions Precedent to Each Borrowing. The obligation of each Lender to make an Advance on the occasion of each any Borrowing (including the initial Borrowing) shall be subject to the further conditions precedent that (i) in the case of the making of an Advance, the Administrative Agent shall have received the written confirmatory a Notice of Borrowing with respect thereto, thereto in accordance with Section 2.02 and (ii) on the date of such Borrowing, Borrowing the following statements shall be true (and each of the giving of the 52 applicable Notice of Borrowing and the acceptance by the Company any Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Company that, that on the date of such Borrowing, Borrowing such statements are true):

Appears in 1 contract

Samples: Credit Agreement (Computer Sciences Corp)

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