Conditions Precedent to Additional Funding Sample Clauses

Conditions Precedent to Additional Funding. The obligation of the Buyer to fund the Additional Amount of the Operating Loan shall be subject to satisfaction of the following conditions precedent at the time of each funding: (i) all representations, warranties, covenants and statements made by or behalf of the Company or any Seller in any of the Loan Documents or the Stock Purchase Agreement (as defined below and incorporated herein) shall be true and correct in all material respects; (ii) there shall not have been any material adverse change in the condition (financial or otherwise), operations, assets, liabilities or prospects of the Company, as determined in Buyer's sole good faith discretion; and (iii) there shall not be voluntary or involuntary bankruptcy, insolvency or similar proceedings pending relating to the Company or any of its assets; provided, however, in the event Buyer believes that either clause (i) or (ii) above is not satisfied, it will so notify the Company and to the extent curable, will afford it a period of fifteen (15) days to satisfy such condition to Buyer's satisfaction (and during such notice and cure period any obligation of the Buyer to fund will be suspended). If requested by the Buyer, the Company agrees to promptly supply it with a certification signed by its President and Chief Financial Officer that, to the best of their respective knowledge and belief, all such conditions are satisfied.
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Related to Conditions Precedent to Additional Funding

  • Conditions Precedent to Advances Notwithstanding any other provision of this Agreement, no Loan proceeds, Revolving Credit Loans, advances or other extensions of credit under the Loan shall be disbursed under this Agreement unless the following conditions have been satisfied or waived immediately before such disbursement:

  • Conditions Precedent to Initial Loan The obligation of Bank to make the initial Loan is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following:

  • Conditions Precedent to Obligation of Purchaser The obligation of Purchaser to consummate the transaction hereunder shall be subject to the fulfillment on or before the Closing Date of all of the following conditions, any or all of which may be waived by Purchaser in its sole discretion:

  • Conditions Precedent to Purchase The Purchase under this Agreement is subject to the conditions precedent that (a) Buyer shall have received on or before the date of such purchase those documents listed on Schedule A and (b) all of the conditions to the initial purchase under the Purchase Agreement shall have been satisfied or waived in accordance with the terms thereof.

  • Conditions Precedent to Initial Loans In addition to the conditions set forth in Section 6.2, Lenders shall not be required to fund any requested Loan, issue any Letter of Credit, or otherwise extend credit to Borrowers hereunder, until the date (“Closing Date”) that each of the following conditions has been satisfied:

  • Conditions Precedent to All Loans Each Lender’s obligations to make each Loan is subject to the following conditions precedent:

  • Conditions Precedent to Initial Borrowing The initial Borrowing under this Agreement is subject to the satisfaction of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative Agent.

  • CONDITIONS PRECEDENT TO LOAN The obligations of Lender to make the Loan hereunder are subject to the satisfaction by Borrower of the following conditions:

  • Conditions Precedent to Initial Advance The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following:

  • Conditions Precedent to All Advances The obligation of Bank to make each Advance, including the initial Advance, is further subject to the following conditions:

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