Initial Loans, Etc Sample Clauses
Initial Loans, Etc. The obligation of each Bank to make the initial Loans and to issue the initial Standby Letter of Credit, each are subject to the following conditions precedent (in addition to any applicable conditions precedent set forth elsewhere in this Article 8), each of which shall be satisfied prior to or concurrently with the making of the initial Loans and the issuance of the initial Standby Letter of Credit (unless Banks, in their sole and absolute discretion, shall agree otherwise):
(a) 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 Agent and its legal counsel (unless otherwise specified or, in the case of the date of any of the following, unless Agent otherwise agrees or directs):
(1) six executed counterparts of this Agreement;
(2) the Notes executed by Borrowers payable to the order of Banks;
(3) with respect to each Borrower and any and each Subsidiary thereof, such documentation as Agent may require to establish the due organization, valid existence and good standing of such Borrower and each such Subsidiary, its qualification to engage in business in each jurisdiction in which it is engaged in business or required to be so qualified, its authority to execute, deliver and perform any Loan Documents to which it is a Party, and the identity, authority and capacity of each Responsible Official thereof authorized to act on its behalf, including, without limitation, certified copies of articles of incorporation and amendments thereto, bylaws and amendments thereto, partnership agreements, certificates of limited partnerships, certificates of good standing and/or qualification to engage in business, certificates of corporate resolutions, incumbency certificates, Certificates of Responsible Officials, and the like;
(4) such Loan Documents as Agent or Requisite Banks may require pledging Property of Borrowers and/or any of their Subsidiaries, together with such related financing statements or other documents as Agent or Requisite Banks may request to perfect, effect, facilitate, consent to, give notice of or otherwise evidence any Liens created thereby;
(5) the Global Collateral Documents Amendment;
Initial Loans, Etc. The obligation of each Bank to make the initial Loans and to issue the initial Standby Letter of Credit, each are subject to the following conditions precedent (in addition to any applicable conditions precedent set forth elsewhere in this Article 8), each of which shall be satisfied prior to or concurrently with the making of the initial Loans and the issuance of the initial Standby Letter of Credit (unless Banks, in their sole and absolute discretion, shall agree otherwise):
(a) 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 Agent and its legal counsel (unless otherwise specified or, in the case of the date of any of the following, unless Agent otherwise agrees or directs):
Initial Loans, Etc. The obligation of each Bank to make the initial Loan to be made by it, or the obligation of the Issuing Bank to issue the initial Letter of Credit (as applicable), is subject to delivery to the Administrative Agent of the following, in form and substance satisfactory to the Administrative Agent (unless all of the Banks, in their sole and absolute discretion, shall agree otherwise):
Initial Loans, Etc. The obligation of each Bank to make the initial Loan to be made by it, or the obligation of the Issuing Bank to issue the initial Letter of Credit (as applicable), is subject to the following conditions precedent, each of which shall be satisfied prior to the making of the initial Loans (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 Officer, each dated as of the Closing Date or, in the case of the documents required under subsection (4) below, as of a recent date, and each in form and substance satisfactory to the Administrative Agent, each Bank, and their respective 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 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) Committed Loan Notes executed by Borrower in favor of each Bank requesting a Committed Loan Note, each in a principal amount equal to that Bank's Pro Rata Share;