Common use of Determinations Under Sections 3.01 and 3 Clause in Contracts

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.

Appears in 1 contract

Sources: First Lien Credit Agreement (U S Energy Systems Inc)

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 Second 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 Second Lien Administrative Agent such Lender’s ratable portion of the Borrowing.

Appears in 1 contract

Sources: Second Lien Credit Agreement (U S Energy Systems Inc)