{"component": "clause", "props": {"groups": [{"samples": [{"hash": "fSz3KxCNoGm", "uri": "/contracts/fSz3KxCNoGm#condition-to-effectiveness", "label": "Note and Warrant Purchase Agreement", "score": 31.3408622742, "published": true}, {"hash": "e3BZTMq2bou", "uri": "/contracts/e3BZTMq2bou#condition-to-effectiveness", "label": "Note and Warrant Purchase Agreement (Twinlab Consolidated Holdings, Inc.)", "score": 26.0732383728, "published": true}], "snippet": "The effectiveness of this Amendment shall be subject to the satisfaction of the following conditions precedent:\n7.1. The Purchaser shall have received (i) a fully executed copy of this Amendment, (ii) a fully executed First Amendment Warrant, (iii) a fully executed amended and restated Note and (iv) all other Transaction Documents, agreements, documents, instruments and other items set forth on the closing checklist attached hereto as Exhibit C, in each case in form and substance reasonably satisfactory to the Purchaser.\n7.2. The Purchaser shall have received a certificate of a duly authorized officer of each Company, certifying (i) that, the attached copies of all of the organization documents of each Company are true and complete, and in full force and effect, without amendments except as shown; (ii) that, in the case of each Company, an attached copy of resolutions authorizing the execution and delivery of the Amendment and the other Transaction Documents by such Company is true and complete, and that such resolutions are in full force and effect, were duly adopted, have not been amended, modified or revoked, and constitute all resolutions adopted with respect to this credit facility; and (iii) that, in the case of each Company, the title, name and signature of each Person authorized to sign the Transaction Documents on behalf of such Company.\n7.3. The Purchaser shall have received certificates of insurance evidencing that each Existing Company is covered under the insurance policies maintained by the Existing Companies, all in compliance with the Transaction Documents.\n7.4. The Purchaser shall have received certificates, in form and substance satisfactory to it, from a duly authorized officer of each Company certifying that, on the First Amendment Date after giving effect to the First Amendment Transactions, (i) each Company is Solvent; (ii) no Default or Event of Default exists; (iii) the representations and warranties made by the Companies in the Transaction Documents remain true, correct and complete as of the date hereof (and with respect to any representations and warranties that relate to an earlier date, such representations and warranties shall be deemed to be amended to relate to the First Amendment Date); and (iv) each Company has complied with all agreements and conditions to be satisfied by it under the Transaction Documents.\n7.5. No litigation, investigation or proceeding before or by any arbitrator or Governmental Authority shall be continuing or threatened against any Company, any of the Companies\u2019 Subsidiaries or against any officers or directors of any Company (A) in connection with any of the Transaction Documents or any of the transactions contemplated thereby and which, in the Purchaser\u2019s sole and absolute discretion, is deemed material or (B) which could have a Material Adverse Effect; and no injunction, writ, restraining order or other order of any nature materially adverse to any Company or the conduct of its business or inconsistent with the due consummation of the transactions contemplated hereby shall have been issued by any Governmental Authority.\n7.6. The Purchaser shall have received evidence satisfactory to it that the Existing Revolving Debt has been repaid in full or will be repaid in full with the proceeds of the New Revolver Financing on the First Amendment Date and all notes, financing statements and Liens associated therewith have been released or otherwise terminated.\n(i) The Companies shall have entered into the Senior Loan Documents, in each case in form and substance reasonably satisfactory to the Purchaser, and shall have delivered copies of all such documents to the Purchaser, (ii) the Companies shall have entered into the Subordinated Loan Documents, in each case in form and substance reasonably satisfactory to the Purchaser, and shall have delivered copies of all such documents to the Purchaser and (iii) the Companies shall have received evidence of the funding of the Subordinated Debt in the form of a Fed. Reference No. on the First Amendment Date of $5,000,000 less fees, costs and expenses due and payable under the Subordinated Loan Documents.\n7.8. The Purchaser shall have received, in form and substance reasonably satisfactory to the Purchaser, a pro forma balance sheet of the Companies as of November 30, 2014, after giving effect to the First Amendment Transactions.\n7.9. Since November 13, 2014, no Material Adverse Effect shall have occurred with respect to the Companies.\n7.10. On the First Amendment Date, the Purchaser\u2019s purchase of the First Amendment Warrant shall not be prohibited by any applicable law or governmental regulation and shall not subject it to any penalty or, in the Purchaser\u2019s reasonable judgment, other onerous conditions under or pursuant to any applicable law or governmental regulation. The offering, issuance, and sale of the First Amendment Warrant shall have complied with all applicable requirements of federal and state securities laws, and the Purchaser shall have received evidence of such compliance in form and substance satisfactory to the Purchaser.\n7.11. The Purchaser shall have received all fees and other amounts due and payable to the Purchaser and its counsel in connection with this Amendment, and to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Companies under the Note Purchase Agreement.\n7.12. The Purchaser shall have received such other documents as the Purchaser shall have reasonably requested in connection with this Amendment and the other transactions contemplated hereby, all of which shall be in form and substance reasonably satisfactory to the Purchaser.", "snippet_links": [{"key": "effectiveness-of-this-amendment", "type": "clause", "offset": [4, 35]}, {"key": "subject-to-the", "type": "clause", "offset": [45, 59]}, {"key": "satisfaction-of", "type": "clause", "offset": [60, 75]}, {"key": "conditions-precedent", "type": "definition", "offset": [90, 110]}, {"key": "the-purchaser-shall", "type": "clause", "offset": [117, 136]}, {"key": "executed-copy", "type": "clause", "offset": [163, 176]}, {"key": "first-amendment-warrant", "type": "definition", "offset": [218, 241]}, {"key": "amended-and-restated-note", "type": "definition", "offset": [266, 291]}, {"key": "other-transaction-documents", "type": "definition", "offset": [305, 332]}, {"key": "other-items", "type": 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"contemplated-thereby", "type": "clause", "offset": [2711, 2731]}, {"key": "sole-and-absolute-discretion", "type": "definition", "offset": [2762, 2790]}, {"key": "deemed-material", "type": "clause", "offset": [2795, 2810]}, {"key": "no-injunction", "type": "clause", "offset": [2866, 2879]}, {"key": "restraining-order", "type": "clause", "offset": [2887, 2904]}, {"key": "order-of", "type": "clause", "offset": [2914, 2922]}, {"key": "materially-adverse", "type": "definition", "offset": [2934, 2952]}, {"key": "conduct-of-its-business", "type": "clause", "offset": [2975, 2998]}, {"key": "consummation-of-the-transactions", "type": "clause", "offset": [3028, 3060]}, {"key": "contemplated-hereby", "type": "clause", "offset": [3061, 3080]}, {"key": "issued-by", "type": "clause", "offset": [3097, 3106]}, {"key": "revolving-debt", "type": "definition", "offset": [3220, 3234]}, {"key": "repaid-in-full", "type": "definition", "offset": [3244, 3258]}, {"key": "new-revolver", "type": "definition", "offset": [3310, 3322]}, {"key": "all-notes", "type": "definition", "offset": [3365, 3374]}, {"key": "financing-statements", "type": "clause", "offset": [3376, 3396]}, {"key": "entered-into", "type": "clause", "offset": [3501, 3513]}, {"key": "senior-loan-documents", "type": "definition", "offset": [3518, 3539]}, {"key": "subordinated-loan-documents", "type": "definition", "offset": [3737, 3764]}, {"key": "evidence-of", "type": "definition", "offset": [3958, 3969]}, {"key": "the-funding", "type": "clause", "offset": [3970, 3981]}, {"key": "the-subordinated-debt", "type": "clause", "offset": [3985, 4006]}, {"key": "form-of", "type": "definition", "offset": [4014, 4021]}, {"key": "reference-no", "type": "definition", "offset": [4029, 4041]}, {"key": "date-of", "type": "clause", "offset": [4066, 4073]}, {"key": "costs-and-expenses", "type": "definition", "offset": [4096, 4114]}, {"key": "due-and-payable", "type": "clause", "offset": [4115, 4130]}, {"key": "pro-forma-balance-sheet", "type": "definition", "offset": [4276, 4299]}, {"key": "no-material-adverse-effect", "type": "clause", "offset": [4429, 4455]}, {"key": "purchase-of-the", "type": "clause", "offset": [4558, 4573]}, {"key": "applicable-law", "type": "clause", "offset": [4629, 4643]}, {"key": "governmental-regulation", "type": "definition", "offset": [4647, 4670]}, {"key": "onerous-conditions", "type": "clause", "offset": [4761, 4779]}, {"key": "pursuant-to", "type": "definition", "offset": [4789, 4800]}, {"key": "the-offering", "type": "definition", "offset": [4848, 4860]}, {"key": "sale-of-the-first", "type": "clause", "offset": [4876, 4893]}, {"key": "applicable-requirements", "type": "definition", "offset": [4941, 4964]}, {"key": "federal-and-state-securities-laws", "type": "definition", "offset": [4968, 5001]}, {"key": "and-the-purchaser", "type": "clause", "offset": [5003, 5020]}, {"key": "other-amounts-due", "type": "clause", "offset": [5175, 5192]}, {"key": "payable-to", "type": "definition", "offset": [5197, 5207]}, {"key": "to-the-extent", "type": "clause", "offset": [5277, 5290]}, {"key": "payment-of", "type": "definition", "offset": [5318, 5328]}, {"key": "pocket-expenses", "type": "definition", "offset": [5340, 5355]}, {"key": "the-note-purchase-agreement", "type": "clause", "offset": [5413, 5440]}, {"key": "other-documents", "type": "definition", "offset": [5487, 5502]}, {"key": "other-transactions", "type": "clause", "offset": [5594, 5612]}], "size": 7, "hash": "eaa9be46c1c005658021c722191db076", "id": 10}, {"samples": [{"hash": "5bJB1Q1IGg9", "uri": "/contracts/5bJB1Q1IGg9#condition-to-effectiveness", "label": "Registration Rights Agreement (Vocaltec Communications LTD)", "score": 20.0294322968, "published": true}, {"hash": "lI2xtw0lVHw", "uri": "/contracts/lI2xtw0lVHw#condition-to-effectiveness", "label": "Registration Rights Agreement (Vocaltec Communications LTD)", "score": 19.7446956635, "published": true}, {"hash": "jj9jAIfVPPt", "uri": "/contracts/jj9jAIfVPPt#condition-to-effectiveness", "label": "Senior Unsecured Line of Credit Agreement (Revlon Consumer Products Corp)", "score": 19.0, "published": true}], "snippet": "This Amendment shall become effective on and as of the date first written above.", "snippet_links": [{"key": "this-amendment", "type": "clause", "offset": [0, 14]}, {"key": "become-effective", "type": "clause", "offset": [21, 37]}], "size": 7, "hash": "d84eed2a64bc20afc177663747bef6f0", "id": 9}, {"samples": [{"hash": "lzgxn96QVIT", "uri": "/contracts/lzgxn96QVIT#condition-to-effectiveness", "label": "Pooling and Servicing Agreement (Novastar Home Equity Loan Asset Backed Cert Series 2003-3)", "score": 21.0, "published": true}, {"hash": "ljfzGK464E5", "uri": "/contracts/ljfzGK464E5#condition-to-effectiveness", "label": "Pooling and Servicing Agreement (Novastar Mortgage Funding Trust Series 2004-2)", "score": 21.0, "published": true}, {"hash": "iFX0384rv3x", "uri": "/contracts/iFX0384rv3x#condition-to-effectiveness", "label": "Pooling and Servicing Agreement (Novastar Mortgage Funding Trust Series 2004-1)", "score": 21.0, "published": true}], "snippet": "As a condition to the effectiveness of this Amendment, an Opinion of Counsel satisfying the requirements of Section 12.01 of the Agreement has been received by the Parties hereto.", "snippet_links": [{"key": "effectiveness-of-this-amendment", "type": "clause", "offset": [22, 53]}, {"key": "an-opinion-of-counsel", "type": "clause", "offset": [55, 76]}, {"key": "the-requirements", "type": "clause", "offset": [88, 104]}, {"key": "the-agreement", "type": "clause", "offset": [125, 138]}, {"key": "the-parties-hereto", "type": "clause", "offset": [160, 178]}], "size": 30, "hash": "d94cd76814bf5002d243fee16dc2c20b", "id": 1}, {"samples": [{"hash": "leBLKGidL88", "uri": "/contracts/leBLKGidL88#condition-to-effectiveness", "label": "Receivables Sale Agreement and Receivables Purchase Agreement (Constellium N.V.)", "score": 26.1882266998, "published": true}, {"hash": "47ypqK0DfBS", "uri": "/contracts/47ypqK0DfBS#condition-to-effectiveness", "label": "Receivables Sale Agreement and Receivables Purchase Agreement (Constellium N.V.)", "score": 25.1916503906, "published": true}, {"hash": "g77BVplJ3yd", "uri": "/contracts/g77BVplJ3yd#condition-to-effectiveness", "label": "Receivables Sale Agreement and Receivables Purchase Agreement (Constellium N.V.)", "score": 24.8275146484, "published": true}], "snippet": "This Amendment shall become effective on the date on which all of the following conditions have been satisfied:\n(a) each of the parties hereto shall have received counterparts of this Amendment executed by each of the other parties hereto (including facsimile or e-mail signature pages); and\n(b) the representations and warranties contained in each of the Agreements and in this Amendment shall be true and correct both as of the date hereof and immediately after giving effect to this Amendment.", "snippet_links": [{"key": "effective-on-the", "type": "clause", "offset": [28, 44]}, {"key": "the-parties-hereto", "type": "clause", "offset": [124, 142]}, {"key": "executed-by", "type": "definition", "offset": [194, 205]}, {"key": "the-other-parties", "type": "clause", "offset": [214, 231]}, {"key": "signature-pages", "type": "clause", "offset": [270, 285]}, {"key": "the-representations-and-warranties", "type": "clause", "offset": [296, 330]}, {"key": "contained-in", "type": "definition", "offset": [331, 343]}, {"key": "the-agreements", "type": "clause", "offset": [352, 366]}, {"key": "true-and-correct", "type": "clause", "offset": [398, 414]}, {"key": "date-hereof", "type": "clause", "offset": [430, 441]}, {"key": "giving-effect-to-this", "type": "clause", "offset": [464, 485]}], "size": 13, "hash": "e0cb0ae221870628a416f35ba9b6864b", "id": 3}, {"samples": [{"hash": "bzSfVpPhcvL", "uri": "/contracts/bzSfVpPhcvL#condition-to-effectiveness", "label": "Note and Warrant Purchase Agreement", "score": 29.3408622742, "published": true}, {"hash": "jaRsObn7yRY", "uri": "/contracts/jaRsObn7yRY#condition-to-effectiveness", "label": "Note and Warrant Purchase Agreement (Twinlab Consolidated Holdings, Inc.)", "score": 28.2867889404, "published": true}, {"hash": "1Tl3B3HFDQv", "uri": "/contracts/1Tl3B3HFDQv#condition-to-effectiveness", "label": "Note and Warrant Purchase Agreement (Twinlab Consolidated Holdings, Inc.)", "score": 28.2867889404, "published": true}], "snippet": "The effectiveness of this Amendment shall be subject to the satisfaction of the following conditions precedent:\n6.1. The Purchaser shall have received a fully executed copy of this Amendment.\n6.2. The Purchaser shall have received the corresponding, fully executed copies of the Senior Loan Documents evidencing the Permitted Senior Debt of Great Harbor, in form and substance satisfactory to the Purchaser.\n6.3. All representations and warranties of the Companies contained herein shall be true and correct in all material respects as of the date hereof (and such parties' delivery of their respective signatures hereto shall be deemed to be its certification thereof).\n6.4. The Purchaser shall have received all fees and other amounts due and payable to the Purchaser and its counsel in connection with this Amendment, and to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Companies under the Note Purchase Agreement.", "snippet_links": [{"key": "effectiveness-of-this-amendment", "type": "clause", "offset": [4, 35]}, {"key": "subject-to-the", "type": "clause", "offset": [45, 59]}, {"key": "satisfaction-of", "type": "clause", "offset": [60, 75]}, {"key": "conditions-precedent", "type": "definition", "offset": [90, 110]}, {"key": "the-purchaser-shall", "type": "clause", "offset": [117, 136]}, {"key": "executed-copy", "type": "clause", "offset": [159, 172]}, {"key": "senior-loan-documents", "type": "definition", "offset": [279, 300]}, {"key": "debt-of", "type": "definition", "offset": [333, 340]}, {"key": "great-harbor", "type": "definition", "offset": [341, 353]}, {"key": "form-and-substance", 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112]}, {"key": "executed-by", "type": "definition", "offset": [118, 129]}, {"key": "the-credit-parties", "type": "clause", "offset": [156, 174]}, {"key": "the-issuing-bank", "type": "clause", "offset": [176, 192]}, {"key": "majority-lenders", "type": "definition", "offset": [218, 234]}], "size": 12, "hash": "5cc74398bfa1907c9bdd0ec18ebae435", "id": 4}, {"samples": [{"hash": "1QeQhzv63e0", "uri": "/contracts/1QeQhzv63e0#condition-to-effectiveness", "label": "Credit Agreement (Atlas Energy Group, LLC)", "score": 27.3312797546, "published": true}, {"hash": "gfUtScPfDmJ", "uri": "/contracts/gfUtScPfDmJ#condition-to-effectiveness", "label": "Credit Agreement (Atlas Energy Group, LLC)", "score": 27.213552475, "published": true}, {"hash": "4gKwv4cmiHK", "uri": "/contracts/4gKwv4cmiHK#condition-to-effectiveness", "label": "Credit Agreement (Atlas Energy Group, LLC)", "score": 27.0985622406, "published": true}], "snippet": "This Amendment shall become effective on the date (the \u201cEffective Date\u201d) the following conditions are satisfied:\n(a) the Administrative Agent shall have received executed counterparts (in such number as may be requested by the Administrative Agent) of this Amendment from the Borrower, the Parent, the Administrative Agent, AEG and the Majority Lenders;\n(b) the Administrative Agent shall have received a certificate of an authorized officer of each Loan Party dated as of the Effective Date certifying to the effect that attached thereto is a true and complete copy of resolutions duly adopted by the board of directors, board of managers or member, as the case may be, of each Loan Party authorizing the execution, delivery and performance of this Amendment, and that such resolutions have not been modified, rescinded or amended, such resolutions are in full force and effect and there are no plans to modify rescind or amend such resolutions; and\n(c) the Administrative Agent shall have received all reasonable and documented out-of-pocket costs and 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["conditions-precedent-to-effectiveness-of-this-amendment", "Conditions Precedent to Effectiveness of this Amendment", "Conditions Precedent to Effectiveness of this Amendment"]], "related_snippets": [], "updated": "2026-05-03T06:08:52+00:00", "also_ask": ["What are the minimum conditions that must be included to protect our interests?", "How can we leverage or negotiate the scope of conditions to gain strategic advantage?", "What are the most common pitfalls or fatal flaws in drafting effectiveness conditions?", "How do courts typically interpret and enforce conditions to effectiveness?", "How do these conditions compare to market standards or similar agreements in our jurisdiction?"], "drafting_tip": "List all conditions explicitly to prevent disputes, specify objective criteria to ensure enforceability, and set deadlines to avoid indefinite delays.", "explanation": "A Condition to Effectiveness clause defines specific requirements that must be satisfied before a contract or agreement becomes legally binding and enforceable. Typically, these conditions may include obtaining regulatory approvals, securing financing, or the completion of due diligence. By setting out these prerequisites, the clause ensures that both parties are protected from being obligated under the contract until all critical factors are addressed, thereby reducing risk and uncertainty."}, "json": true, "cursor": ""}}