SWY » Topics » 6.2 Conditions to All Loans .

This excerpt taken from the SWY 8-K filed Jun 7, 2005.

6.2 Conditions to All Loans.

 

The obligations of Lenders to make Loans on each Funding Date are subject to the following further conditions precedent:

 

A. Administrative Agent shall have received before that Funding Date, in accordance with the provisions of subsection 2.1B, an originally executed Notice of Borrowing, in each case signed by any executive officer or vice president of the applicable Borrower (each such person being an “Authorized Officer”).

 

B. As of that Funding Date:

 

(i) The representations and warranties contained herein and in the other Loan Documents shall be true, correct and complete in all material respects on and as of that Funding Date to the same extent as though made on and as of that date, except to the extent that such representations and warranties specifically relate to an earlier date, in which case, such representations and warranties shall be true, correct and complete in all material respects on and as of such earlier date;

 

(ii) No event shall have occurred and be continuing or would result from the consummation of the borrowing contemplated by such Notice of Borrowing that would constitute an Event of Default or a Potential Event of Default;

 

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(iii) No order, judgment or decree of any court, arbitrator or governmental authority shall purport to enjoin or restrain Lenders from making the Loans to be made on that Funding Date; and

 

(iv) There shall not be pending or, to the knowledge of Borrowers, threatened, any action, suit, proceeding, governmental investigation or arbitration against or affecting Company or any of its Subsidiaries or any property of Company or any of its Subsidiaries that has not been disclosed by Company in writing pursuant to subsection 7.5 or 8.1(viii) prior to the making of the last preceding Loans (or, in the case of Loans, if any, made on the Closing Date, prior to the execution of this Agreement), and there shall have occurred no development not so disclosed in any such action, suit, proceeding, governmental investigation or arbitration so disclosed, that, in either event, in the opinion of any Primary Agent or of Requisite Lenders, would be expected to have a Material Adverse Effect.

 

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