This excerpt taken from the STSA 8-K filed May 20, 2005.
(a) Borrowing Request. The Lender shall have received a Borrowing Request in accordance with the terms of this Agreement.
(b) No Default. No Default or Event of Default shall have occurred and be continuing, nor shall any Default or Event of Default occur as a result of the making of such Loan.
(c) Representations and Warranties. The representations and warranties contained in Section 5.01 shall have been true and correct when made and (except to the extent that any representation or warranty speaks as of a date certain) shall be true and correct on the Borrowing Date with the same effect as though such representations and warranties were made on such Borrowing Date.
Section 6.03 Satisfaction of Conditions Precedent. Each of (i) the delivery by the Borrower of a Borrowing Request, and (ii) the acceptance of the proceeds of a Tranche shall be deemed to constitute a certification by the Borrower that, as of the Borrowing Date, each of the conditions precedent contained in Section 6.02 has been satisfied with respect to any Tranche then being advanced.