Conditions Precedent to Closing and Funding Sample Clauses

Conditions Precedent to Closing and Funding. The obligation of Lender to fund the Loan shall be subject to the satisfaction of each of the following conditions precedent (or waiver by Lender in its sole discretion), in addition to all of the conditions precedent set forth elsewhere in the Loan Documents:
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Conditions Precedent to Closing and Funding. Usual and customary for debtor-in-possession financings of this type and substantially consistent with the conditions precedent to closing and funding under the Senior DIP Credit Agreement, including, without limitation: (i) execution and delivery of the DIP Term Credit Agreement and the other DIP Term Documents evidencing the DIP Term Facility; (ii) the Petition Date shall have occurred, and the DIP Term Facility Borrower and each Guarantor shall be a debtor and a debtor-in-possession; (iii) entry of the Interim DIP Order not later than 5 calendar days following the Petition Date; (iv) delivery of an initial DIP budget; (v) the RSA shall have become effective and binding in accordance with its terms, (vi) the entry of all “first day” orders and related pleadings with the Bankruptcy Court that are acceptable in form and substance to the Required DIP Term Lenders (as defined herein), (vii) the Senior DIP Credit Agreement and the other Senior DIP Documents shall have become effective and binding on the terms set forth on Annex I attached hereto, (viii) no default or event of default and (ix) accuracy of representations and warranties. The date on which the conditions precedent to closing are satisfied is referred to herein as the “Closing Date”. Representations and Warranties Usual and customary for debtor-in-possession financings of this type and substantially consistent with the representations and warranties under the Senior DIP Documents, including, without limitation, representations with respect to initial and updated DIP budgets, the Chapter 11 Cases and the DIP Orders. Information/Reporting Covenants Usual and customary for debtor-in-possession financings of this type and substantially consistent with the reporting and information covenants under the Senior DIP Credit Agreement, including, without limitation, delivery and approval by the Required DIP Term Lenders of initial and updated DIP budgets and delivery of variance reports in respect thereof. Other Affirmative Covenants Usual and customary for debtor-in-possession financings of this type and substantially consistent with the affirmative covenants under the Senior DIP Credit Agreement, including, without limitation, customary related bankruptcy matters and priority liens and xxxxxx.Xx addition, the DIP Term Facility Borrower shall use commercially reasonable efforts to obtain ratings in respect of the DIP Term Facility from each of Xxxxx’x and S&P within 45 days following the Closing Date; prov...
Sample 1
Conditions Precedent to Closing and Funding. The obligation of the Lenders to enter into this Agreement and purchase the Notes on the Closing Date is subject to the accuracy, as of the Closing Date, of the representations and warranties herein contained, to the performance by the Borrower of its obligations to be performed hereunder on or before the Closing Date and to the satisfaction of the following further conditions:
Sample 1
Conditions Precedent to Closing and Funding. (a) This Joinder Agreement shall become effective on the Increase Effective Date, provided that the Administrative Agent shall have received each of the closing deliverables set forth in Section 2.16(b) of the Bond Purchase and Covenants Agreement, in form and substance satisfactory to the Administrative Agent and subject to any waiver of or modifications in such deliverables as shall be accepted by the Administrative Agent.
Sample 1
Conditions Precedent to Closing and Funding. 1. Satisfactory due diligence collateral audit of Audio King Corporation. 2. Satisfactory completion of an inventory appraisal of Audio King Corporation. 3. No material adverse change in the financial condition of Borrower since the date of its most recent financial statement provided to Norwest. 4. Receipt of current interim financial statements. 5. Receipt of all Landlord Waivers acceptable to Norwest and NBCI. Audio King inventory will not be included in the Borrowing Base until all Landlord Waivers relating to the Audio King inventory are received. 6. Execution of Loan Documents as described above. 7. Approval by Norwest and NBCI of new financial covenants which will govern the credit facilities following the Audio King acquisition. This commitment to extend the Term Loan to the Borrower shall expire if each condition precedent or the Loan Documents have not been fully executed by 5:00 p.m. (Denver time) on May 30, 1997. Please indicate your acceptance of this commitment by signing below and returning it to the attention of Xxx Xxxxxxx by no later than April 15, 1997. NBCI shall initiate the documentation process upon receipt of this signed letter. Please contact Xxx Ultimate Electronics, Inc. April 2, 1997 Page 5 Xxxxxxx at (000) 000-0000 should you have any questions or require additional information. Sincerely, NORWEST BUSINESS CREDIT, INC. By: /S/ XXXXXX XXXXXXX ---------------------------------- Xxxxxx Xxxxxxx Its: /S/ ASSISTANT VICE PRESIDENT ---------------------------------- Assistant Vice President NORWEST BANK COLORADO, NATIONAL ASSOCIATION By: /S/ XXXXX X. XXXXX ---------------------------------- Its: /S/ VICE PRESIDENT ---------------------------------- ULTIMATE ELECTRONICS, INC. By: ---------------------------------- Its: ----------------------------------
Sample 1
Conditions Precedent to Closing and Funding. 47 Section 5.1 Conditions to Closing Date under this Agreement 47
Sample 1
Conditions Precedent to Closing and Funding. (a) This Second Amendment shall become effective on the Increase Effective Date, provided that the Administrative Agent shall have received each of the closing deliverables set forth in Section 2.16(b) of the Bond Purchase and Covenants Agreement, in form and substance satisfactory to the Administrative Agent and subject to any waiver of or modifications in such deliverables as shall be accepted by the Administrative Agent.
Sample 1
AutoNDA by SimpleDocs
Conditions Precedent to Closing and Funding 
Sample 1Sample 2Sample 3See All (4)

Related to Conditions Precedent to Closing and Funding

  • Conditions Precedent to Closing The Local Church and Annual Conference acknowledge and agree that the obligations of the parties to effectuate the Closing on or about the Disaffiliation Date are expressly contingent and conditional on the following:

  • Conditions Precedent to Closing Date The obligation of the Lenders to make each Loan hereunder, and the obligation of the Letter of Credit Issuer to issue Letters of Credit hereunder, in each case, on the Closing Date are subject to the satisfaction on or prior to the Closing Date of each of the following conditions:

  • Conditions Precedent to the Closing Conditions precedent to the Closing are as follows:

  • CONDITIONS PRECEDENT TO BUYER'S OBLIGATION TO CLOSE Buyer's obligation to purchase the Shares and to take the other actions required to be taken by Buyer at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Buyer, in whole or in part):

  • Conditions Precedent to the Closing Date The obligation of the Lenders to execute this Agreement and make any requested Loans on the Closing Date is subject to the prior satisfaction of each of the following conditions (unless waived in writing by Administrative Agent with the consent of the Lenders):

  • CONDITIONS PRECEDENT TO SELLER'S OBLIGATION TO CLOSE Sellers' obligation to sell the Shares and to take the other actions required to be taken by Sellers at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Sellers, in whole or in part):

  • Conditions Precedent to Buyer’s Obligations The obligations of Buyer under this Agreement are subject to satisfaction or waiver by Buyer of each of the following conditions or requirements on or before the Closing Date:

  • CONDITIONS PRECEDENT TO PURCHASER'S OBLIGATION TO CLOSE Purchaser’s obligation to purchase the Assets and to take the other actions required to be taken by Purchaser at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following conditions (any of which may be waived by Purchaser, in whole or in part, in writing):

  • Conditions Precedent to Seller’s Obligations The obligations of Seller to effect the Closing of the transactions contemplated hereby are subject to the fulfillment, prior to or at the Closing, of each of the following conditions, any of which may be waived in writing by Seller:

  • Conditions Precedent to EFFECTIVENESS OF SECTIONS 2.01 AND 2.03. Sections 2.01 and 2.03 of this Agreement shall become effective on and as of the first date (the "EFFECTIVE DATE") on which the following conditions precedent have been satisfied:

Time is Money Join Law Insider Premium to draft better contracts faster.