Conditions to Borrowing. The Bank will not be obligated to make (or continue to make) advances hereunder unless (i) the Bank has received executed originals of the Note and all other documents or agreements applicable to the loans described herein, including but not limited to the documents specified in Article III (collectively with this Agreement the “Loan Documents”), in form and content satisfactory to the Bank; (ii) if the loan is secured, the Bank has received confirmation satisfactory to it that the Bank has a properly perfected security interest, mortgage or lien, with the proper priority; (iii) the Bank has received certified copies of the Borrower’s governance documents and certification of entity status satisfactory to the Bank and all other relevant documents; (iv) the Bank has received a certified copy of a resolution or authorization in form and content satisfactory to the Bank authorizing the loan and all acts contemplated by this Agreement and all related documents, and confirmation of proper authorization of all guaranties and other acts of third parties contemplated hereunder; (v) if required by the Bank, the Bank has been provided with an Opinion of the Borrower’s counsel in form and content satisfactory to the Bank confirming the matters outlined in Section 2.2 and such other matters as the Bank requests; (vi) no default exists under this Agreement or under any other Loan Documents, or under any other agreements by and between the Borrower and the Bank; and (vii) all proceedings taken in connection with the transactions contemplated by this Agreement (including any required environmental assessments), and all instruments, authorizations and other documents applicable thereto, are satisfactory to the Bank and its counsel.
Conditions to Borrowing. The making of the Advances hereunder is subject to the following conditions precedent:
Conditions to Borrowing. The Lenders will only be obliged to make an Advance to the Borrower if:
Conditions to Borrowing. The obligation of each Lender to make a Borrowing available hereunder on the Closing Date is subject to satisfaction of the following conditions precedent:
Conditions to Borrowing. The making of any Loan hereunder is subject to the following conditions precedent:
Conditions to Borrowing. The agreement of each Lender to make the Term Loans on the Closing Date is subject to the satisfaction (or waiver), prior to or concurrently with the making of such Term Loans, of the following conditions precedent:
Conditions to Borrowing. The obligation of the Lender to make the Loan is subject to the satisfaction of such of the following conditions as shall not have been expressly waived in writing by the Lender:
Conditions to Borrowing. 39 SECTION 5.1 Initial Borrowing...........................................................39 SECTION 5.1.1 Resolutions, etc.......................................................40 SECTION 5.1.2 Delivery of Notes......................................................40 SECTION 5.1.3 Applicable Margin......................................................40 SECTION 5.1.4 Guaranty...............................................................40 SECTION 5.1.5 Pledge Agreements......................................................40 SECTION 5.1.6 Security Agreements....................................................40 SECTION 5.1.7 Intellectual Property Assignment.......................................41 SECTION 5.1.8 Opinions of Counsel....................................................41 SECTION 5.1.9 Agreements.............................................................41 SECTION 5.1.10 Closing Fees, Expenses, etc...........................................41 SECTION 5.2 All Borrowings and Letters of Credit........................................41
Conditions to Borrowing. The obligation of each Bank to make a Loan on the occasion of any Borrowing is subject to the satisfaction of the following conditions:
Conditions to Borrowing. In addition to any other requirements set forth herein, the obligation of Lender to fund the Loan is subject to the prior fulfillment (or waiver, in Lender’s sole discretion) of each of the following conditions precedent:
