Common use of Conditions Precedent to Funding of Advances with Respect to Additional Eligible Resorts Clause in Contracts

Conditions Precedent to Funding of Advances with Respect to Additional Eligible Resorts. As provided in Section 3.5 hereof, Borrower may propose to Agent that Agent approve one or more additional timeshare plans for inclusion hereunder as an Additional Eligible Resort in respect of which Advances may be made. The obligation of Lenders to fund any Advances with respect to an Additional Eligible Resort shall be subject to the satisfaction of each of the following conditions precedent, in addition to all of the conditions precedent set forth elsewhere in the Loan Documents:

Appears in 3 contracts

Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)

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Conditions Precedent to Funding of Advances with Respect to Additional Eligible Resorts. As provided in Section 3.5 3.4 hereof, Borrower may propose to Agent that Agent approve one or more additional timeshare plans for inclusion hereunder as an Additional Eligible Resort in respect of which Intervals may be accepted as part of the Inventory and Advances may be made. The obligation of Lenders to fund any Advances Advance with respect to any Interval from an Additional Eligible Resort shall be subject to the satisfaction of each of the following conditions precedent, in addition to all of the conditions precedent set forth elsewhere in the Loan Documents:

Appears in 1 contract

Samples: Loan and Security Agreement Inventory (Silverleaf Resorts Inc)

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Conditions Precedent to Funding of Advances with Respect to Additional Eligible Resorts. As provided in Section 3.5 3.6 hereof, Borrower may propose to Agent that Agent approve one or more additional timeshare plans for inclusion hereunder as an Additional Eligible Resort in respect of which Advances may be made. The obligation of Lenders to fund any Advances with respect to an Additional Eligible Resort shall be subject to the satisfaction of each of the following conditions precedent, in addition to all of the conditions precedent set forth elsewhere in the Loan Documents:

Appears in 1 contract

Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc)

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