Conditions Precedent Voorbeeld Klousules
Conditions Precedent. The obligation of each Lender, each Issuer and each Swing Loan Lender to make any Credit Extension on any Credit Date including the Closing Date, is subject to the satisfaction, or waiver in accordance with Section 10.5, of the following conditions precedent:
(i) the Applicable Lead Borrower shall have delivered to the Applicable Agent (and the applicable Swing Loan Lender in the case of a borrowing of Swing Loans and the applicable Issuer in the case of an issuance of a Letter of Credit) a Funding Notice or Letter of Credit Application, as the case may be;
(ii) no Protective Advances are outstanding and the limits set forth in Section 2.1, 2.3 or 2.10 are not exceeded after giving effect to such Advances or Letters of Credit, as applicable;
(iii) as of such Credit Date, the representations and warranties contained herein and in the other Credit Documents shall be true and correct in all material respects on and as of that Credit Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; and
(iv) as of such Credit Date, no event shall have occurred and be continuing or would result from the consummation of the applicable Credit Extension that would constitute an Event of Default or a Default.
Conditions Precedent. 4.1 This Agreement is conditional upon that:
(a) no breach of any Warranty causing a Loss to the Buyer or the Company of a gross amount of SEK 36,500,000 shall have occurred on or prior to the Closing Date,
(b) no Material Adverse Effect shall have occurred on or prior to the Closing Date, and
(c) no litigation, action, suit or other proceeding (excluding, however, litigation, actions, suits or other proceedings initiated by the Buyer or any affiliate to the Buyer) shall be pending against the Seller, the Company or in relation to the Properties at the Closing Date where an unfavourable judgement, decree or order would prevent or make the completion of the transactions contemplated in this Agreement unlawful.
4.2 This Agreement and the transactions contemplated hereby may be terminated by the Buyer, if any of the conditions precedent in Section 4.1 above has not been fulfilled, or waived by the Buyer, on or prior to the Closing Date, in which case all obligations of the Parties under this Agreement shall terminate without further liability whatsoever of any Party to another and each Party will pay all its own costs and expenses. The provisions of Sections 12 (Confidentiality), 13 (Announcements) and 21 (Governing Law and Disputes) shall survive any termination of this Agreement.