Common use of Initial Advances, Etc Clause in Contracts

Initial Advances, Etc. The effectiveness of this Agreement as an amendment and restatement of the Second Amended Loan Agreement, and the effectiveness of the other Loan Documents as amendments and restatements of the other Pre- Existing Loan Documents, and the obligation of each Bank to make the initial Advance to be made by it and, if applicable, to make or accept an Adjusting Purchase Payment, and the obligation of the Issuing Bank to issue any Letter of Credit are subject to the following conditions precedent, each of which must be satisfied unless all of the Banks, in their sole and absolute discretion, shall agree otherwise: (a) The Administrative Agent shall have received all of the following, each of which shall be originals unless otherwise specified, each properly executed by a Responsible Official of each party thereto, each dated as of the Closing Date and each in form and substance satisfactory to the Administrative Agent and its legal counsel (unless otherwise specified or, in the case of the date of any of the following, unless the Administrative Agent otherwise agrees or directs): (1) at least one (1) executed counterpart of this Agreement, together with arrangements satisfactory to the Administrative Agent for additional executed counterparts, sufficient in number for distribution to the Banks and Borrower; (2) a Line A Note and a Line B Note executed by Borrower in favor of each Bank, each such Note in a principal amount equal to that Bank's Pro Rata Share of the applicable Commitment; (3) the Subsidiary Guaranty executed by each Guarantor Subsidiary;

Initial Advances, Etc. The effectiveness of this Agreement as an amendment and restatement of the Second Amended Loan Agreement, and the effectiveness of the other Loan Documents as amendments and restatements of the other Pre- Existing Loan Documents, and the obligation of each Bank Lender to make the initial Advance to be made by it and, if applicable, to make or accept an Adjusting Purchase Paymentit, and the obligation of the Issuing Bank Lender to issue any the initial Letter of Credit are Credit, is subject to the following conditions precedent, each of which must shall be satisfied prior to the making of the initial Advances (unless all of the BanksLenders, in their sole and absolute discretion, shall agree otherwise:): (a) The Administrative Agent shall have received all of the followingfol lowing, each of which shall be originals unless otherwise specified, each properly executed by a Responsible Official of each party thereto, each dated as of the Closing Date and each in form and substance satisfactory to the Administrative Agent and its legal counsel (unless otherwise specified or, in the case of the date of any of the following, unless the Administrative Agent otherwise agrees or directs): (1) at least one (1) executed counterpart of this Agreement, together with arrangements satisfactory to the Administrative Agent for additional executed counterparts, sufficient in number for distribution to the Banks Lenders and Borrower; (2) a Line A Note and a Line B Note Notes executed by Borrower in favor of each BankLender, each such Note in a principal amount equal to that BankLender's Pro Rata Share of the applicable Line A Commitment; (3) Line B Notes executed by Borrower in favor of each Lender, each in a principal amount equal to that Lender's Pro Rata Share of the Line B Commitment. (4) the Subsidiary Guaranty executed by each Guarantor Subsidiaryall Subsidiary Guarantors;

Initial Advances, Etc. The effectiveness of this Agreement as an amendment and restatement of the Second Amended Loan Agreement, and the effectiveness of the other Loan Documents as amendments and restatements of the other Pre- Existing Loan Documents, and the obligation of each Bank Lender to make the initial Advance to be made by it andit, if applicable, the obligation of the Swing Line Lender to make or accept an Adjusting Purchase Payment, Swing Line Advances and the obligation of the relevant Issuing Bank Lenders to issue any Letter the initial Letters of Credit Credit, are each subject to the following conditions precedent, each of which must shall be satisfied prior to the making of the initial Advances (unless all of the BanksLenders, in their sole and absolute discretion, shall agree otherwise:): (a) The Administrative Agent shall have received all of the following, each of which shall be originals unless otherwise specified, each properly executed by a Responsible Official of each party thereto, each dated as of the Closing Date and each in form and substance satisfactory to the Administrative Agent and its legal counsel (unless otherwise specified or, in the case of the date of any of the following, unless the Administrative Agent otherwise agrees or directs): (1) at least one (1) executed counterpart of this Agreement, together with arrangements satisfactory to the Administrative Agent for additional executed counterparts, sufficient in number for distribution to the Banks Lenders, Parent and each Borrower; (2) a Line A Note and a Line B Note Committed Advance Notes executed by each Borrower in favor of each BankLender, each such Note in a principal amount equal to that BankLender's Pro Rata Share provided that the Committed Advance Notes issued by Marina to each Lender shall be in a principal amount equal to that Lender's Pro Rata Share of the applicable CommitmentMarina's Aggregate Sublimit; (3) the Subsidiary Guaranty executed by each Guarantor Subsidiary;