Conditions to Subsequent Borrowing Clause Samples
The "Conditions to Subsequent Borrowing" clause sets out the specific requirements that must be met before a borrower can access additional funds after the initial loan disbursement. Typically, these conditions may include the borrower maintaining certain financial ratios, providing updated financial statements, or ensuring that no default has occurred under the loan agreement. By establishing clear prerequisites for further borrowing, this clause helps lenders manage risk and ensures that the borrower's financial health is monitored throughout the life of the loan.
Conditions to Subsequent Borrowing. The obligation of each Lender to make a Loan as part of a subsequent Borrowing hereunder is subject to the following conditions precedent:
Conditions to Subsequent Borrowing. The obligation of each Lender to make a Loan as part of a subsequent Borrowing is subject to the following conditions precedent (provided that PIK Loans shall be deemed not to constitute a Loan for purposes of this Section 6.02), which shall have been satisfied or waived in writing by the Lenders.
Conditions to Subsequent Borrowing. The obligation of each Lender to make a Loan as part of a third or subsequent Borrowing is subject to the following conditions precedent:
(a) Borrowing Date. Such Borrowing shall occur on or prior to June 30, 2016.