Common use of Conditions Precedent to Second Amendment Clause in Contracts

Conditions Precedent to Second Amendment. The satisfaction of each of the following, unless waived or deferred by Agent, in its sole discretion, shall constitute conditions precedent to the effectiveness of this Second Amendment and each and every provision hereof: (a) Agent shall have received this Second Amendment fully executed by each of the parties hereto; (b) The representations and warranties in this Second Amendment, the Loan Agreement as amended hereby and the other Loan Documents shall be true and correct in all respects on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date); (c) No Event of Default shall have occurred and be continuing on the date hereof, nor shall any Default or Event of Default result from the consummation of the transactions contemplated herein; (d) No injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein shall have been issued and remain in force by any court or other governmental authority against Borrower, Agent or any Lender; and (e) Agent shall have received payment in full of its out-of-pocket expenses (including reasonable attorneys' fees and expenses) incurred in connection with the Loan Agreement and this Second Amendment.

Appears in 1 contract

Sources: Second Amendment Agreement (Factory Card Outlet Corp)

Conditions Precedent to Second Amendment. The satisfaction of each of the following, unless waived or deferred by Agent, Agent in its sole discretiondiscretion or, in the case of subsection (b) below, by the Required Lenders or all of the Lenders, as applicable, shall constitute conditions precedent to the effectiveness of this Second Amendment and each and every provision hereof: (a) Agent shall have received this Second Amendment fully executed by each of the parties hereto; (b) The representations and warranties in this Second Amendment, the Loan Agreement as amended hereby by this Second Amendment, and the other Loan Documents shall be true and correct in all respects on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date); (cb) No Event of Default shall have occurred and be continuing on the date hereof, nor shall any Default or Event of Default result from the consummation of the transactions contemplated herein; (dc) No injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein shall have been issued and remain in force by any court Governmental Authority against any Borrower or other governmental authority against Borrower, Agent; (d) Agent or any Lendershall have received the Kayne Intercreditor Agreement; (e) Agent shall have received the Availability Letter of Credit; (f) Agent shall have received a Second Amendment fee of $25,000 from Borrowers (to be shared pro rata with the Lenders signatory hereto); and (eg) Agent shall have received payment in full of its out-of-pocket expenses (including reasonable attorneys' fees and expenses) incurred in connection with the Loan Agreement and this Second Amendment.

Appears in 1 contract

Sources: Loan and Security Agreement (Fao Inc)

Conditions Precedent to Second Amendment. The satisfaction of each of the following, unless waived or deferred by Agent, Lender in its sole discretion, shall Permitted Discretion constitute conditions precedent to the effectiveness of this Second Amendment and each and every provision hereofAmendment: (a) Agent Lender shall have received this Second Amendment fully Amendment, duly executed by each of the parties heretoBorrower; (b) The the representations and warranties in this Second Amendment, the Loan Agreement Agreement, as amended hereby hereby, and the other Loan Documents shall be true and correct in all respects on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date); (c) No no Default or Event of Default shall have occurred and be continuing on the date hereof, nor shall any and no Default or Event of Default shall result from the consummation of the transactions contemplated herein; (d) No no injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein shall have been issued and remain in force by any court or other governmental authority against Borrower, Agent Borrower or any Lender; and (e) Agent Lender shall have received payment in full of its out-of-pocket expenses (including reasonable attorneys' fees and expenses) incurred in connection with the Loan Agreement and this Second Amendment.

Appears in 1 contract

Sources: Loan and Security Agreement (Harvey Electronics Inc)