Determinations Under Sections 3.01 and 3 Clause Samples
The "Determinations Under Sections 3.01 and 3" clause defines the process and authority for making decisions or judgments as specified in Sections 3.01 and 3 of the agreement. Typically, this clause outlines who is responsible for making these determinations—such as a party, a committee, or an independent expert—and may describe the criteria or procedures to be followed. For example, it might specify how disputes over calculations or compliance are resolved. The core function of this clause is to ensure that there is a clear, agreed-upon method for resolving uncertainties or disagreements related to key provisions, thereby reducing the risk of conflict and promoting efficient contract administration.
Determinations Under Sections 3.01 and 3. For purposes of determining compliance with the conditions specified in Sections 3.01 and 3.02, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Administrative Agent responsible for the transactions contemplated by the Loan Documents shall have received written notice from such Lender prior to the Borrowings hereunder specifying its objection thereto and such Lender shall not have made available to the Administrative Agent such Lender’s ratable portion of such Borrowings.
Determinations Under Sections 3.01 and 3. For purposes of determining compliance with the conditions specified in Sections 3.01 and 3.02, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Agent responsible for the transactions contemplated by this Agreement shall have received written notice from such Lender prior to the date that the Company, by notice to the Lenders, designates as the proposed Effective Date or the date of the initial Advance to the applicable Designated Subsidiary, specifying its objection thereto. The Agent shall promptly notify the Lenders of the occurrence of the Effective Date and each date of initial Advance to a Designated Subsidiary.
Determinations Under Sections 3.01 and 3. For purposes of determining compliance with the conditions specified in Sections 3.01 and 3.02, each Lender Party shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to it unless an officer of the Administrative Agent responsible for the transactions contemplated by the Financing Documents shall have received notice from such Lender Party prior to the date of the Borrowing or issuance of any Letter of Credit (as applicable) specifying its objection thereto and, in the case of a Borrowing, such Lender Party shall not have made available to the Administrative Agent such Lender Party’s ratable portion of such Borrowing.
Determinations Under Sections 3.01 and 3. For purposes of determining compliance with the conditions specified in Section 3.01 and Section 3.02, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless the Designated Agent shall have received notice from such Lender prior to the date that the Borrower, by notice to the Lenders, designates as the proposed Effective Date or Closing Date, as applicable, specifying its objection thereto. The Designated Agent shall promptly notify the Lenders and the Borrower of the occurrence of the Closing Date.
Determinations Under Sections 3.01 and 3. For purposes of determining compliance with the conditions specified in Sections 3.01 and 3.02, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Agent responsible for the transactions contemplated by this Agreement shall have received notice from such Lender prior to the date that the Company, by notice to the Agent, designates as the proposed Effective Date or the date of the initial Advance to the applicable Designated Subsidiary, as the case may be, specifying its objection thereto; provided that with respect to the date of the initial Advance to a Designated Subsidiary, any such notice delivered by a Defaulting Lender shall be disregarded. The Agent shall promptly notify the Lenders of the occurrence of the Effective Date and each date of initial Advance to a Designated Subsidiary, as applicable.
Determinations Under Sections 3.01 and 3. For purposes of determining compliance with the conditions specified in Sections 3.01 and 3.03, each Lender Party shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lender Parties unless an officer of the Administrative Agent responsible for the transactions contemplated by the Loan Documents shall have received notice from such Lender Party prior to the Effective Date or the Final Term Advance Date, as applicable, specifying its objection thereto, and if a Borrowing occurs on the Effective Date or the Final Term Advance Date, as applicable, such Lender Party shall not have made available to the Administrative Agent such Lender Party’s ratable portion of such Borrowing.
Determinations Under Sections 3.01 and 3. For purposes of determining compliance with the conditions specified in Sections 3.01 and 3.02, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Administrative Agent responsible for the transactions contemplated by this Agreement shall have received written notice from such Lender prior to, with respect to conditions specified in Section 3.01, the Effective Date, and with respect to conditions specified in Section 3.02, the Funding Date, specifying its objection thereto. The Administrative Agent (or its counsel) shall promptly notify the Lenders and the Borrower in writing of the occurrence of each of the Effective Date and the Funding Date and each such notification shall be conclusive and binding.
Determinations Under Sections 3.01 and 3. For purposes of determining compliance with the conditions specified in Section 3.01 or 3.02, each Lender Party shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lender Parties unless an officer of the Administrative Agent responsible for the transactions contemplated by the Loan Documents shall have received notice from such Lender Party prior to the Effective Date or such other applicable date specifying its objection thereto.
Determinations Under Sections 3.01 and 3. For purposes of determining compliance with the conditions specified in Sections 3.01 and 3.02, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the First Lien Administrative Agent responsible for the transactions contemplated by the Loan Documents shall have received notice from such Lender prior to the Effective Date or the date of the relevant Expansion Account Drawing, as the case may be, specifying its objection thereto and such Lender shall, in the case of a condition specified in Section 3.01, not have made available to the First Lien Administrative Agent such Lender’s ratable portion of the Borrowing.
Determinations Under Sections 3.01 and 3. For purposes of determining compliance with the conditions specified in Sections 3.01 and 3.02, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document required thereunder to be consented to or approved by or acceptable or satisfactory to the Majority Lenders (to the extent provided by the Borrower to the Lenders at least two Business Days prior to the proposed Effective Date or Borrowing Date, as the case may be,) unless an officer of the Administrative Agent responsible for the transactions contemplated by the Loan Documents shall have received notice from any Lender prior to the date that the Borrower, by notice to the Lenders, may designate as the proposed Effective Date or Borrowing Date, as the case may be, specifying its objection thereto, whereupon the Majority Lenders may provide written notice to the Administrative Agent and the Borrower, on or prior to the Effective Date or Borrowing Date, as the case may be, in order to cause such condition to be satisfied. The Administrative Agent shall promptly notify the Lenders of the occurrence of the Effective Date.