Initial Obligations Clause Samples
Initial Obligations. In addition to the terms and conditions otherwise contained herein, the obligation of the Lender to make any Loan or incur any Obligation is conditioned on the satisfaction of the following conditions precedent, and for conditions (a) through (e) below, Lender receiving the specified items in form, detail and content reasonably satisfactory to the Lender and its counsel:
(a) the executed Term Note;
(b) a certificate of the secretary or an assistant secretary of the Company, and each of its Bank Subsidiaries certifying (i) an attached complete and correct copy of its bylaws; (ii) an attached complete and correct copy of resolutions duly adopted by its board of directors which have not been amended since their adoption and remain in full force and effect, authorizing the execution, delivery and performance of this Agreement and the Related Documents to which it is a party; (iii) that its articles of incorporation or charter have not been amended since the date of the last date of amendment thereto indicated on the certificate of the secretary of state; and (iv) as to the incumbency and specimen signature of each officer executing this Agreement and all other Related Documents to which it is a party, and including a certification by another officer as to the incumbency and signature of the secretary or assistant secretary executing the certificate;
(c) the opinion of counsel for the Company in form and substance reasonably satisfactory to the Lender and its counsel;
(d) certificates of status or good standing for the Company issued by the Michigan Department of Licensing and Regulatory Affairs, in which the Company's principal place of business is located, and certified copies of the Articles of Incorporation for the Company, all issued by the Michigan Department of Licensing and Regulatory Affairs within thirty (30) days of the date hereof;
(e) certification that there are no (i) Material Liens of record on the Property of the Company only (and not any of its Subsidiaries) other than Permitted Liens and (ii) Material Liens of record on the Property of any Bank Subsidiary other than Permitted Liens;
(f) there shall not exist on any Default or Event of Default;
(g) all of the representations and warranties of the Company contained in this Agreement and the other Related Documents are true and correct in all material respects on such purchase date; and
(h) the Lender is satisfied in its sole discretion that there has been no Material Adverse Effect since Decemb...
Initial Obligations. Each Member shall enter into a Charterparty with any third party as suggested by the Manager in respect of its Initial Member Vessel(s) on the date of this Agreement pursuant to the provisions of this Agreement and in particular the provisions of clause 4.2(a).
Initial Obligations. Each Party (other than BPA) will, commencing if and at such time as the conditions precedent set forth in section 1.2 above are satisfied, perform the following obligations (the “Initial Obligations”):
(i) support, in BPA proceedings to evaluate whether the Administrator should execute this Settlement Agreement, a BPA decision that this Settlement Agreement should be so executed;
(ii) seek, in cooperation with the other Parties, a stay or other procedural order that preserves all claims and defenses in the Litigation, as described in section 10.1; and
(iii) support, in BPA proceedings to adopt applicable power rates for the initial Rate Period, BPA’s use of this Settlement Agreement to develop such rates. Any Party may cite any other Party’s execution of this Settlement Agreement, at any time after such other Party’s execution and delivery to BPA of this Settlement Agreement and the conditions precedent in section 1.2 have been satisfied, as evidencing such other Party's support for this Settlement Agreement.
Initial Obligations. Before We are obligated to perform any Services, You must complete the following:
Initial Obligations. (a) On the Acceptance Date with respect to the Initial System, RPR automatically shall be deemed to have ordered from IRORI an aggregate of *** NanoKans, at a price of *** each, and IRORI shall be entitled to submit to RPR an invoice therefor, in accordance with Section 7.8(a).
(b) Between the Acceptance Date with respect to the Initial System and the second Anniversary of such Acceptance Date, RPR shall order from IRORI an aggregate of *** additional NanoKans, at a price of *** each. This is a take-or-pay.
Initial Obligations. (a) On the Acceptance Date with respect to the Initial System, BMS automatically shall be deemed to have ordered from IRORI an aggregate of *** NanoKans, at a price of *** each, and IRORI shall be entitled to submit to BMS an invoice therefor, in accordance with Section 7.9(a).
(b) From time to time after the Acceptance Date with respect to the Initial System, BMS shall deliver to IRORI resins to be loaded into the NanoKans ordered by BMS pursuant to Section 7.1(a) (arty resins delivered by BMS pursuant to this Section 7 collectively, the "BMS Resins"), accompanied by instructions as to how many of such NanoKans should be loaded with such BMS Resins and as to shipping and delivery of such NanoKans. Within 30 *** Portions of this page have been omitted pursuant to a request for Confidential Treatment and filed separately with the Commission
Initial Obligations. 12 7.2 Requirements................................................................13 7.3 Orders......................................................................13 7.4 Delivery....................................................................13 7.5
Initial Obligations. In addition to the terms and conditions otherwise contained herein, the Company shall deliver or cause to be delivered to the Agent, prior to or on the date of the Banks' first extension of credit, each of the following items in form, detail and content satisfactory to the Agent:
20 26 (a) the executed Revolving Credit Notes;
Initial Obligations. During the first two years after the Effective Date (the "Application Support Period"), Enthone will provide ATMI and its customers with application support relating to the Technology and Products which application support shall include, but not be limited to, the following: - On-site Process Assistance - Troubleshooting - Bath Characterization - Optimization of Component Concentration - Optimization of Bath Lifetime - General On-site Process Development - Product enhancements, modifications, improvements and customization The application and technical support budget for Enthone for the first year of the Application Support Period shall be $* * * of which ATMI shall pay Enthone the lesser of: (a) * * *% of Enthone's costs for such application support, or (b) $* * *. The parties acknowledge that the application support budget of $* * * is based on the assumption that the application support needs of ATMI and its customers for the first year after the Effective Date will not increase relative to such needs in the year prior to the Effective Date. The parties agree to negotiate in good faith any necessary application support budget increases resulting from increased customer demand for Viaform ECD. During the second year of the Application Support Period, the parties will agree to a mutually acceptable budget and will equally share all costs incurred based on such budget in connection with such support. In the event that the parties are unable to agree upon a mutually acceptable budget for the second year (and beyond to the extent contemplated by Section 5.1(b) or (d)) of the Application Support Period, the budget for the immediately preceding year of the Application Support Period as set forth above shall apply during such period.
Initial Obligations. In addition to the terms and conditions otherwise contained herein, the obligation of the Bank to extend any Loans or make or incur any Obligation is conditioned on the Bank (i) receiving, prior to or on the date of the Bank's first extension of credit, each of the following items in form, detail and content satisfactory to the Bank or (ii) the Company having taken the actions specified herein:
(a) a certificate of the secretary of the Company dated the date hereof certifying: (A) the adoption and continuing effect of resolutions of the Board of Directors of the Company authorizing the execution and delivery of this Amendment and the Credit Agreement, and the documents to be executed and delivered in connection with this Amendment; (B) that its bylaws have not been amended since the date of the last delivery of the bylaws to the Bank on February 11, 2003; and (C) that its Articles of Incorporation have not been amended since the date of the last delivery of the Articles of Incorporation to the Bank on February 11, 2003; and
(b) updated UCC searches from the offices of the Wisconsin Department of Financial Institutions and the Milwaukee County Register of Deeds);
(c) an executed Borrowing Base Certificate; and
(d) such additional supporting documents and materials as the Bank may request.