Conditions to Advancement Sample Clauses

Conditions to Advancement. Funds shall be advanced to the Trustee pursuant to this Section 3 if (1) the Trust is insured against losses arising by reason of any such lawful advancements to the Trustee; (2) a determination is made by the vote of a majority of a quorum of Independent Trustees, or by Independent Counsel in a written opinion, based on a review of the readily available facts then known (as opposed to a full trial-type inquiry), that there is reason to believe that the Trustee ultimately will be found to be entitled to indemnification pursuant to Section 1, or (3) in the absence of insurance or such a determination by Independent Trustees or Independent Counsel, such undertaking as required by Paragraph 3(a) above is secured by a surety bond or other appropriate security provided by the Trustee. In any such determination by the Independent Trustees or Independent Counsel pursuant to subpart (2) of this subparagraph, the Trustee shall be afforded a rebuttable presumption that the Trustee did not engage in Disabling Conduct.
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Conditions to Advancement. Funds shall be advanced to the Director pursuant to this Section 3 if: (1) the Company is insured against losses arising by reason of any such lawful advancements to the Director; (2) a determination is made by the vote of a majority of a quorum of Independent Directors, or by Independent Counsel in a written opinion, based on a review of the readily available facts then known (as opposed to a full trial-type inquiry), that there is reason to believe that the Director ultimately will be found to be entitled to indemnification pursuant to Section 2; or (3) in the absence of insurance or such a determination by the Independent Directors or Independent Counsel, such undertaking as required by subparagraph 3(a) above is secured by a surety bond or other appropriate security provided by the Director.
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Conditions to Advancement. Funds shall be advanced to the Trustee pursuant to this Section 3 if: (1) the Fund is insured against losses arising by reason of any such lawful advancements to the Trustee; (2) a determination is made by, in the Independent Trustees’ sole discretion, the vote of a majority of a quorum of Independent Trustees or by Independent Counsel in a written opinion, based on a review of the readily available facts then known (as opposed to a full trial-type inquiry), that there is reason to believe that the Trustee ultimately will be found to be entitled to indemnification pursuant to Section 2; or (3) in the absence of insurance or such a determination by the Independent Trustees or Independent Counsel, such undertaking as required by subparagraph 3(a) above is secured by a surety bond or other appropriate security provided by the Trustee.
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Conditions to Advancement. Funds shall be advanced to the Trustee pursuant to this Section 2 only if (1) the Fund is insured against losses arising by reason of any lawful advancements, (2) a determination is made by the vote of a majority of a quorum of Independent Trustees, or by Independent Counsel in a written opinion, based on a review of the readily available facts then known (as opposed to a full trial-type inquiry), that there is reason to believe that the Trustee ultimately will be found to be entitled to indemnification pursuant to Section 1, or (3) in the absence of insurance or such a determination, the Trustee shall provide security to the Fund for such undertaking (which security shall be adequate to secure the undertaking as determined by the Independent Trustees).
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Conditions to Advancement. Funds shall be advanced to the Trustee pursuant to this Section 2; provided, however, that (1) such Person shall have provided appropriate security for such undertaking, (2) the relevant Trust is insured against losses arising out of any such advance payments, or (3) either a majority of the Disinterested Trustees, or Independent Counsel in a written opinion, shall have determined, based upon a review of the readily available facts (as opposed to a trial-type inquiry), that there is reason to believe that such Trustee ultimately will be found entitled to indemnification.
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Conditions to Advancement. Funds shall be advanced to the Trustee pursuant to this Section 2; provided, however, that (i) the Trustee shall have provided appropriate security for such undertaking, (ii) the Trust is insured against losses arising out of any such advance payments, or (iii) either a majority of the Disinterested Trustees (provided that a majority of the Disinterested Trustees then in office act on the matter), or Independent Counsel in a written opinion, shall have determined, based upon a review of the readily available facts (as opposed to a trial-type inquiry), that there is reason to believe that the Trustee ultimately will be found entitled to indemnification.
Sample 1
Conditions to Advancement. Funds shall be advanced to the Indemnitee pursuant to this Section 2 only if (i) the Corporation is insured against losses arising by reason of any lawful advancements, (ii) a determination is made by the vote of a majority of a quorum of independent directors, or by Independent Counsel in a written opinion, based on a review of the readily available facts then known, that there is reason to believe that the Indemnitee ultimately will be found to be entitled to indemnification pursuant to Section 1, or (iii) in the absence of insurance or such a determination, the Indemnitee shall provide security to the Corporation for such undertaking (which security shall be adequate to secure the undertaking as determined by the Corporation).
Sample 1
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Conditions to Advancement. Funds shall be advanced to the Independent Trustee pursuant to this Section 3 if a determination is made by Independent Counsel in a written opinion, based on a review of the readily available facts then known (as opposed to a full trial- type inquiry), that there is reason to believe that the Independent Trustee ultimately will be found to be entitled to indemnification pursuant to Section 2. In any such determination by Independent Counsel pursuant to this subparagraph, any Independent Trustee shall be afforded a rebuttable presumption that the Independent Trustee did not engage in Disabling Conduct.
Sample 1

Related to Conditions to Advancement

  • Conditions to Advances The obligation of Lender to make each Advance hereunder, including the Initial Advance, shall be subject to the prior or simultaneous occurrence or satisfaction of each of the following conditions:

  • 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 to Indemnification An indemnified party must give the other party(ies) prompt written notice of any claim and allow the indemnifying party to defend or settle the claim as a condition to indemnification. No settlement shall bind any party without such party’s written consent.

  • Conditions to All Advances The obligation of each -------------------------- Applicable Lender to make any Advance, including its initial Advance, shall also be subject to the satisfaction of the conditions precedent that on the date of such Advance:

  • Conditions to Loan Section 3.1 Conditions to Funding of the Loan on the Closing Date......................................... 33

  • Conditions to Each Advance The agreement of Lenders to make any Advance requested to be made on any date (including the initial Advance), is subject to the satisfaction of the following conditions precedent as of the date such Advance is made:

  • Conditions to Xxxxx’x Obligations The obligations of Xxxxx hereunder with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by Xxxxx of a due diligence review satisfactory to Xxxxx in its reasonable judgment, and to the continuing satisfaction (or waiver by Xxxxx in its sole discretion) of the following additional conditions:

  • CONDITIONS TO GRANT TO HAVE AND TO HOLD the above granted and described Property unto and to the use and benefit of Lender and its successors and assigns, forever; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note, the Loan Agreement and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, the Loan Agreement and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided, however, that Borrower's obligation to indemnify and hold harmless Lender pursuant to the provisions hereof shall survive any such payment or release.

  • CONDITIONS TO LOANS The obligations of Lenders to make Loans are subject to satisfaction of all of the applicable conditions set forth below.

  • Conditions to All Loans The obligations of Lenders to make Loans on each Funding Date are subject to the following further conditions precedent:

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