Conditions to Initial Draw Sample Clauses

Conditions to Initial Draw. The obligation of the City to make the initial Draw is conditioned upon the occurrence of each of the following:
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Conditions to Initial Draw. The obligations of Lender to consummate the transactions contemplated herein and to fund the Initial Draw under the Term Loan are subject to the satisfaction of the following conditions precedent:
Sample 1
Conditions to Initial Draw. The Closing Date shall occur upon satisfaction or waiver of conditions precedent customary for debtor-in-possession financings of this kind or as otherwise reasonably required by the Administrative Agent and the Required Lenders in the context of the proposed transaction, including, without limitation, those set forth on Exhibit B. CONDITIONS TO SUBSEQUENT DRAWS No continuing post-petition default or Event of Default under the DIP Facilities shall exist or be continuing. Representations and warranties shall be true and correct in all material respects at the date of such extension of credit except to the extent that such representations and warranties expressly relate to a prior date, in which case they shall be true and correct in all material respects as of such earlier date. Receipt of notice of borrowing from Borrower, together with customary certifications by an officer of Borrower, at least 5 business days prior to the requested draw date. The Interim Order or the Final Order, as the case may be, shall be in full force and effect and shall not have been reversed, modified, stayed or amended in a manner adverse to the DIP Lenders (as determined in good faith by the Administrative Agent) unless such reversal, modification, stay or amendment is acceptable to Administrative Agent and the Required Lenders. INDEMNIFICATION: Customary for debtor-in-possession financings of this kind and as otherwise required by the Administrative Agent or the Required Lenders in the context of the proposed transaction. GOVERNING LAW: New York. COUNSEL TO THE ADMINISTRATIVE AGENT: Xxxxxx & Xxxxxxx LLP.
Sample 1

Related to Conditions to Initial Draw

  • Conditions to Initial Advance Lender shall have no obligation to make the Initial Advance of funds to Borrower unless and until Contractor has furnished Borrower and Lender the Bond permitted by this Contract, and the following conditions have been satisfied:

  • Conditions to Initial Advances The agreement of Lenders to make the initial Advances requested to be made on the Closing Date is subject to the satisfaction, or waiver by Agent, immediately prior to or concurrently with the making of such Advances, of the following conditions precedent:

  • Conditions to Initial Loan The obligation of each Bank to make its initial Loan hereunder is subject to the satisfaction of the following conditions precedent:

  • Conditions to Initial Loans The agreement of each Lender to make Loans hereunder and the effectiveness of this Agreement is subject to the satisfaction, prior to or on the Closing Date, of the following conditions precedent, which conditions precedent apply to and shall be satisfied by the Borrower:

  • Conditions to Initial Borrowing The obligation of each Lender to extend credit to the Borrower and of each Issuing Bank to issue Letters of Credit hereunder on the Closing Date is subject only to the satisfaction, or waiver in accordance with Section 11.01, of each of the following conditions precedent, except as otherwise agreed between the Borrower and the Required Lenders:

  • Conditions to Initial Extension of Credit The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent:

  • Conditions Precedent to Initial Advances The obligation of each Bank to make its initial Advance on or after the Closing Date is subject to the conditions precedent that (i) all principal, accrued interest, fees, expenses, costs and other amounts outstanding under the terms of each of the Prior Agreements, accrued to the Closing Date, shall have been paid, and the commitments of the lenders thereunder to extend credit shall have terminated, (ii) the Agent shall have received, for the benefit of the Banks, the one time upfront fees due and payable on the Closing Date pursuant to the Joint Fee Letter and (iii) the Agent shall have received on or before the day of the initial Borrowing the following, each dated the Closing Date, in form and substance satisfactory to the Agent and in sufficient copies for each Bank:

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

  • 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 Initial Credit Extension The obligation of each Lender to make a Credit Extension hereunder on the Closing Date is subject to satisfaction of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative Agent:

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