Common use of Certain Advances Clause in Contracts

Certain Advances. The Lenders shall not be required to make any Advance: (i) In the case of PHI, after June 30, 2005, unless PHI shall have delivered to the Agent a certificate to the effect that (and attaching copies of) all corporate and governmental approvals (including approvals of the SEC and any applicable state or federal public utilities commission) necessary for such Borrower to have Outstanding Loans in the applicable amount have been obtained. (ii) In the case of PEPCO, after June 30, 2005, unless PEPCO shall have delivered to the Agent a certificate to the effect that (and attaching copies of) all corporate and governmental approvals (including approvals of the SEC and any applicable state or federal public utilities commission) necessary for such Borrower to have Outstanding Loans in the applicable amount have been obtained. (iii) In the case of DPL, after March 31, 2004, unless DPL shall have delivered to the Agent a certificate to the effect that (and attaching copies of) all corporate and governmental approvals (including approvals of the SEC and any applicable state or federal public utilities commission) necessary for such Borrower to have Outstanding Loans in the applicable amount have been obtained. (iv) In the case of ACE, after January 1, 2004, unless ACE shall have delivered to the Agent a certificate to the effect that (and attaching copies of) all corporate and governmental approvals (including approvals of the SEC and any applicable state or federal public utilities commission) necessary for such Borrower to have Outstanding Loans in the applicable amount have been obtained.