Conditions Term of Agreement Clause Samples
The "Conditions; Term of Agreement" clause defines the specific requirements that must be met for the agreement to become effective and outlines the duration for which the agreement will remain in force. Typically, this clause details any preconditions that parties must satisfy, such as obtaining approvals or completing certain actions, and specifies the start and end dates or the events that trigger the agreement's commencement and termination. Its core function is to ensure both parties clearly understand when their obligations begin and end, thereby preventing disputes over the agreement's validity or duration.
Conditions Term of Agreement. 37 3.1 Conditions Precedent to the Initial Extension of Credit.................37 3.2 Conditions Subsequent to the Initial Extension of Credit................40 3.3 Conditions Precedent to all Extensions of Credit........................40 3.4 Term....................................................................41 3.5
Conditions Term of Agreement. 8083
3.1 Conditions Precedent to Effectiveness 8083
3.2 Conditions Precedent to all Extensions of Credit 8083
3.3 Maturity 8084
3.4 Effect of Maturity 8084
3.5 Early Termination by Borrowers 8084
Conditions Term of Agreement. 3.1 Conditions Precedent to the Restatement Effective Date and Initial Extension of Credit. The obligation of each Lender to make its initial extension of credit under this Amended and Restated Loan and Security Agreement, is subject to the fulfillment, to the satisfaction of Agent and each Lender (the making of such initial extension of credit by a Lender being conclusively deemed to be its satisfaction or waiver of the following), of each of the following conditions precedent:
(a) Agent shall have received financing statements to be filed in such office or offices as may be necessary or, in the opinion of Agent, desirable to perfect the Agent’s Liens in and to the Collateral, and Agent shall have received searches reflecting the filing of all such financing statements;
(b) Agent shall have received each of the following documents, in form and substance satisfactory to Agent, duly executed, and each such document shall be in full force and effect:
(i) the Cash Management Agreements,
(ii) the Closing Certificates,
(iii) the Control Agreements,
(iv) each of the Agent Fee Letter and the Fee Letter,
(v) the Sale and Servicing Agreement,
(vi) the Collateral Custodian Fee Letter,
(vii) the Backup Servicer Engagement Letter; and
(viii) a file-stamped copy of a UCC-1 financing statement naming Horizon as seller and Borrower as buyer, filed with the Delaware Secretary of State to perfect the transfer and sale of Notes Receivable to Borrower from time to time pursuant to the Sale and Servicing Agreement.
(c) Secretary’s Certificates from the Secretary (or equivalent) of each of (a) Borrower, (b) Horizon, and (c) Horizon Management, dated as of the Restatement Effective Date, in form and substance satisfactory to Agent, certifying that (i) a copy of such Person’s Certificate of Formation and Operating Agreement or Certificate or Articles of Incorporation (as applicable) and any other Governing Documents, as well as all amendments thereto, are attached, (ii) other than as reflected by the documents delivered pursuant to (i) above, no action or proceeding for the amendment of such Person’s Governing Documents has been taken or is presently contemplated, (iii) attached is a complete and correct copy of an authorization by or resolution of such Person’s members, managers or board of directors (as applicable) authorizing such Person’s execution, delivery and performance of the Loan Agreement and the other Loan Documents to which it is a party and the transactions contemp...
Conditions Term of Agreement. 15 3.1 Conditions Precedent to the Initial Extension of Credit........ 15 3.2
Conditions Term of Agreement. 47 3.1. Conditions Precedent to the Initial Advance and Issuance of the Initial Letter of Credit..........................................47 3.2. Conditions Precedent to all Advances and all Letters of Credit....49 3.3.
Conditions Term of Agreement. 29 3.1 Conditions Precedent to the Initial Term Loan..................29 3.2 Conditions Precedent to all Advances and all Letters of Credit and the Term Loans...................................31 3.3
Conditions Term of Agreement. 3.1 Conditions Precedent to the Initial Extension of Credit
3.2 Conditions Subsequent to the Initial Extension of Credit
3.3 Conditions Precedent to all Extensions of Credit
3.4 Term
3.5 Effect of Termination
3.6 Early Termination by Borrowers
Conditions Term of Agreement. 3.1 Conditions Precedent to the Initial Extension of Credit.
3.2 Conditions Precedent to all Extensions of Credit.
Conditions Term of Agreement. 31 3.1 Conditions Precedent to the Initial Extension of Credit 31 3.2 Conditions Precedent to all Extensions of Credit 31 3.3 Maturity 32 3.4 Effect of Maturity 32 3.5 Early Termination by Borrowers 32 4. REPRESENTATIONS AND WARRANTIES. 32 4.1 Due Organization and Qualification; Subsidiaries 32 4.2 Due Authorization; No Conflict. 33 4.3 Governmental Consents 33 4.4 Binding Obligations; Perfected Liens 34 4.5 Title to Assets; No Encumbrances 34 4.6 Jurisdiction of Organization; Location of Chief Executive Office and Tangible Assets; Organizational Identification Number; Commercial Tort Claims 34 4.7 Litigation 35 4.8 Compliance with Laws 35 4.9 No Material Adverse Change 35 4.10 Solvency 35 4.11 Employee Benefits 35 4.12 Environmental Condition 35 4.13 Intellectual Property 36 4.14 Leases 36 4.15 Deposit Accounts and Securities Accounts 36 4.16 Complete Disclosure 36 4.17 Material Contracts 36 4.18 Patriot Act; etc 37 4.19 [Reserved] 37 4.20 Payment of Taxes 37 4.21 Margin Stock 37 4.22 Governmental Regulation 37 4.23 OFAC 37 4.24 Employee and Labor Matters 38 4.25 Eligible Accounts 38 4.26 Eligible Inventory 38 4.27 Locations of Inventory and Equipment 38 4.28 Inventory Records 38 4.29 Common Enterprise 38 4.30 Eligible Equipment 39 4.31 Eligible Real Property 39 4.32 Specified Equipment Lease Documents 39 5. AFFIRMATIVE COVENANTS. 39 5.1 Financial Statements, Reports, Certificates 39 5.2 Collateral Reporting 39 5.3 Existence 39 5.4 Maintenance of Properties 39 5.5 Taxes 39 5.6 Insurance 40 5.7 Inspection 40 5.8 Compliance with Laws 40 5.9 Environmental 40 5.10 Reserved 41 5.11 Formation of Subsidiaries 41 5.12 Further Assurances 42 5.13 Lender Meetings 42 5.14 Material Contracts 42 5.15 Location of Inventory and Equipment 42 6. NEGATIVE COVENANTS. 43 6.1 Indebtedness 43 6.2 Liens 43 6.3 Restrictions on Fundamental Changes. 43 6.4 Disposal of Assets 43 6.5 Change Name 44 6.6 Nature of Business 44 6.7 Certain Payments of Debt and Amendments 44 6.8 Change of Control 45 6.9 Restricted Payments 45 6.10 Accounting Methods 46 6.11 Investments; Controlled Investments 46
Conditions Term of Agreement. Conditions Precedent to the Initial Advance, Letter of Credit and the Term Loans.................................................................................