Conditions to Second Borrowing Clause Samples

Conditions to Second Borrowing. The obligation of each Lender to make a Loan as part of a second Borrowing is subject to the following conditions precedent (and for avoidance of doubt, this Section 6.02 shall not apply to any PIK Loan):

Conditions to Second Borrowing. The obligation of the Banks to make Loans in connection with the second Borrowing hereunder is subject to the conditions precedent that (a) the first Borrowing has occurred, (b) the Borrower shall have delivered to the Agent and the Banks copies of the most recent statement of operations required to be delivered under Section 5.1(m) of the Credit Agreement and such statement of operations shall show that EBITDA for the three months ending on the day as of which such statement was prepared was not less than negative $9,500,000, (c) the Borrower shall have delivered to the Agent and the Banks copies of the most recent report on trade payables required to be delivered under Section 5.1(k) of the Credit Agreement and such report (which report shall not be more than 14 days prior to the date of such Borrowing) shall show that the aggregate amount of all trade payables of the Borrower and its Subsidiaries arising out of the purchase of inventory was not less than $275,000,000 and (d) the conditions precedent set forth in Section 3.4 shall be satisfied.

Conditions to Second Borrowing. The second Borrowing was made conditional upon the following conditions precedent that were satisfied or waived in writing by the Lenders:

Conditions to Second Borrowing. The obligation of each Lender to make a Loan as part of a second Borrowing is subject to the following conditions precedent: (a) Borrowing Date. Such Borrowing shall occur on or prior to June 30, 2016.