Common use of Additional Closing Conditions Clause in Contracts

Additional Closing Conditions. As an additional condition to any advance of new funds to Borrower on or after the date of this Agreement to be evidenced by the Replacement Term Note (the form of which is annexed hereto as Schedule 3.i): (i) Borrower must provide to Bank evidence that it has contributed from working capital the amount of not less than 40% of the cost of any capital expenditure project financed with such advance; and (ii) Borrower must provide a copy of its most current capital expenditure tracking report submitted to the Pennsylvania Public Utility Commission with any request for advance.

Appears in 1 contract

Samples: Credit Agreement (Corning Natural Gas Holding Corp)

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Additional Closing Conditions. As an additional condition to any advance of new funds to Borrower on or after the date of this Agreement to be evidenced by the Replacement Term Note (the form of which is annexed hereto as Schedule 3.i): Note: (i) Borrower must provide to Bank evidence that it has contributed from working capital the amount of not less than 4030% of the cost of any capital expenditure project financed with such advance; and (ii) Borrower must provide a copy of its most current capital expenditure tracking report submitted to the Pennsylvania Public Utility Commission with any request for advance.

Appears in 1 contract

Samples: Replacement Credit Agreement (Corning Natural Gas Holding Corp)

Additional Closing Conditions. As an additional condition to any advance of new funds to Borrower on or after the date of this Agreement to be evidenced by the Replacement Multiple Disbursement Term Note (the form of which is annexed hereto as Schedule 3.i): Note: (i) Borrower must provide to Bank evidence that it has contributed from working capital the amount of not less than 4030% of the cost of any capital expenditure project financed with such advance; and (ii) Borrower must provide a copy of its most current capital expenditure tracking report submitted to the State of Pennsylvania Public Utility Commission with any request for advance.

Appears in 1 contract

Samples: Credit Agreement (Corning Natural Gas Holding Corp)

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Additional Closing Conditions. As an additional condition to any advance of new funds to Borrower on or after the date of this Agreement to be evidenced by the Replacement Term Note (the form of which is annexed hereto as Schedule 3.i): Note: (i) Borrower must provide to Bank evidence that it has contributed from working capital the amount of not less than 40% of the cost of any capital expenditure project financed with such advance; and (ii) Borrower must provide a copy of its most current capital expenditure tracking report submitted to the Pennsylvania Public Utility Commission with any request for advance.

Appears in 1 contract

Samples: Second (Corning Natural Gas Holding Corp)

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