Effect of Drawdown Notice Sample Clauses

Effect of Drawdown Notice. Each Drawdown Notice shall be deemed to constitute a warranty by the Borrower that (a) the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct in all material respects on the date of such Drawdown Notice and will be true and correct in all material respects on such drawdown date as if made on such date, and (b) that no Event of Default or any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing.
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Effect of Drawdown Notice. Each Drawdown Notice shall be deemed to constitute a warranty by the Borrower: (a) that the representations and warranties stated in Section 8 are true and correct on the date of such Drawdown Notice and will be true and correct on the applicable Drawdown Date as if made on such date except for such representations and warranties that relate to a specific earlier date, (b) that no Default or Event of Default has occurred and is continuing on such Drawdown Date or would result from the making of a Advance, and (c) that the Conditions Precedent stated in Sections 3.1 and 3.2 have been satisfied.
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Effect of Drawdown Notice. 8 CLAUSE 4 CONDITIONS PRECEDENT........................................... 8
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Effect of Drawdown Notice. Each Drawdown Notice shall be deemed to constitute a warranty by the Borrowers: (a) that the representations and warranties stated in Section 7 are true and correct on the date of such Drawdown Notice and will be true and correct on the applicable Drawdown Date as if made on such date, and (b) that no Event of Default nor any event which with the giving of notice or lapse of time or both would constitute an Event of Default has occurred and is continuing on such Drawdown Date.
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Effect of Drawdown Notice. 20 4. CONDITIONS..........................................................21 4.1 Conditions Precedent to Drawdown of the Loan........................21
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Effect of Drawdown Notice. 23 4. CONDITIONS..............................................................23 4.1 Conditions Precedent to Drawdown of the Loan..........................23 (a) Corporate Authority...............................................23 (b) The Vessels.......................................................24 (c) The Note..........................................................24 (d) Guarantor and Subordinated Guarantor Documents....................24 (e) Pledge Agreement..................................................25 (f) Coordination Agreement............................................25 (g) Vessel Appraisals.................................................25 (h) Guarantor and Subordinated Guarantor Solvency.....................25 (i) Environmental Claims..............................................25 (j) Fees..............................................................25 (k) Accounts..........................................................25 (l) Vessel Liens......................................................25 (m) Approved Business Plan............................................26 (n) Facility A........................................................26 (o) Charters; Pooling Agreements......................................26 (p) Legal Opinions....................................................26
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Effect of Drawdown Notice. Delivery of the Drawdown Notice shall be deemed to constitute a warranty (a) by each of the Credit Parties that the representations and warranties stated in Section 2 (updated mutatis mutandis) hereof and stated by it in the other Transaction Documents to which it is a party are in each case true and correct on and as of the date of the Drawdown Notice and will be true and correct on and as of the Drawdown Date as if made on such date (unless an earlier date is set forth therein), and (b) that no Event of Default nor any Default has occurred and is continuing.
Sample 1
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Effect of Drawdown Notice. Delivery of a Drawdown Notice shall be deemed to constitute a warranty by each of the Borrowers (a) that the representations and warranties stated in Section 2 (updated mutatis mutandis) are true and correct on and as of the date of such Drawdown Notice and will be true and correct on and as of such Drawdown Date as if made on such date, (b) that the representations and warranties stated in the other Transaction Documents (updated mutatis mutandis) are true and correct on and as of the date of the relevant Drawdown Notice and will be true and correct on and as of such Drawdown Date as if made on such date and (c) that no Event of Default nor any Default has occurred and is continuing.
Sample 1
Effect of Drawdown Notice. Delivery of the Drawdown Notice shall be deemed to constitute a warranty (a) by each of the Credit Parties that the representations and warranties stated in Section 2 (updated mutatis mutandis) hereof and by each of the Security Parties and the Vessel Owning Entities that the representations and warranties stated by it in the other Transaction Documents to which it is a party are in each case true and correct on and as of the date of the Drawdown Notice and will be true and correct on and as of the Drawdown Date as if made on such date (unless an earlier date is set forth therein), and (b) that no Event of Default nor any Default has occurred and is continuing.
Sample 1

Related to Effect of Drawdown Notice

  • Drawdown Notice Subject to Sections 3.1 and 3.7 and provided that all of the applicable conditions precedent set forth in Article 12 have been fulfilled by the Borrower or waived by the Lenders as provided in Section 14.4, the Borrower may, from time to time, obtain credit hereunder by giving to the Administrative Agent a duly executed irrevocable notice in substantially the form of Schedule D hereto (“Drawdown Notice”) in accordance with Section 3.11 and specifying:

  • Conditions Precedent to Initial Borrowing The initial Borrowing under this Agreement is subject to the satisfaction of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative Agent.

  • Conditions Precedent to Borrowing The obligation of the Liquidity Provider to make an Advance on the occasion of each Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and, prior to the date of such Borrowing, the Borrower shall have delivered a Notice of Borrowing which conforms to the terms and conditions of this Agreement and has been completed as may be required by the relevant form of the Notice of Borrowing for the type of Advances requested.

  • Conditions Precedent to Each Borrowing The obligation of each Lender to make an Advance on the occasion of each Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (and each of the giving of the applicable Borrowing Notice and the acceptance by the Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Borrowing such statements are true):

  • Conditions Precedent to Initial Advance The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following:

  • Borrowing Notice The Borrower shall deliver to the Agent and the Swing Line Lender irrevocable notice (a "Swing Line Borrowing Notice") not later than noon (Chicago time) on the Borrowing Date of each Swing Line Loan, specifying (i) the applicable Borrowing Date (which date shall be a Business Day), and (ii) the aggregate amount of the requested Swing Line Loan which shall be an amount not less than $100,000. The Swing Line Loans shall bear interest at the Floating Rate.

  • Drawdown Notice irrevocable A Drawdown Notice must be signed by an officer of the Borrower; and once served, a Drawdown Notice cannot be revoked without the prior consent of the Lender.

  • Conditions Precedent to Each Borrowing and Issuance The obligation of each Appropriate Lender to make an Advance (other than a Letter of Credit Advance made by an Issuing Bank or a Working Capital Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing (including the initial Borrowing), and the obligation of each Issuing Bank to issue a Letter of Credit (including the initial issuance), shall be subject to the further conditions precedent that on the date of such Borrowing or issuance (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or of such Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Borrowing or issuance such statements are true):

  • Conditions Precedent to Each Credit Event The occurrence of each Credit Event (including the initial Borrowing) is subject to the further conditions that:

  • Conditions Precedent to Each Loan and Letter of Credit The obligation of each Lender on any date (including the Closing Date) to make any Loan and of each Issuer on any date (including the Closing Date) to Issue any Letter of Credit is subject to the satisfaction of each of the following conditions precedent:

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