Preconditions to Loans and Letters of Credit. 7.1 Term Loan, Initial Revolving Credit Loan, Initial Swing Loan or Letter of Credit. Notwithstanding any provision contained herein to the contrary, none of the Banks shall have any obligation to make the Term Loan, the initial Revolving Credit Loan hereunder and Mercantile shall have no obligation to make the initial Swing Loan hereunder or to issue the initial Letter of Credit hereunder unless the Agent shall have received on the date hereof:
Preconditions to Loans and Letters of Credit. 6.1 Initial Revolving Credit Loan, Initial Swing Loan or Letter of Credit. Notwithstanding any provision contained herein to the contrary, none of the Banks shall have any obligation to make the initial Revolving Credit Loan hereunder, Whitney shall have no obligation to make the initial Swing Loan hereunder, and the Banks shall have no obligation to issue a Letter of Credit hereunder unless the Agent shall have received on the effective date hereof:
Preconditions to Loans and Letters of Credit. 4.01 Initial Revolving Credit Loan or Letter of Credit. Notwithstanding any provision contained in this Agreement to the contrary, none of the Banks shall have any obligation to make the initial Revolving Credit Loan under this Agreement and Mercantile shall have no obligation to issue the initial Letter of Credit under this Agreement unless the Agent shall have first received:
Preconditions to Loans and Letters of Credit. 25 6.1 Initial Line of Credit Loan or Initial Letter of Credit 25 6.2 All Line of Credit Loans 27 6.3 Letters of Credit 28 6.4 Term Loans 29 SECTION 7. REPRESENTATIONS AND WARRANTIES 30 7.1 Existence and Power 30 7.2 Authorization 30 7.3 Governmental Approvals 30 7.4 Binding Effect 30 7.5 ERISA 31 7.6 No Defaults 31 7.7 Liabilities, Litigation 31 7.8 Tax Payment 31 7.9 Title to Property 31 7.10 Compliance with Laws 32 7.11 Other Instruments; None Burdensome 32 7.12 Investments 32 7.13 Subsidiaries 32 7.14 Shipbuilding Contracts; Plans and Specifications 32 7.15 Net Worth of Torch Offshore, L.L.C. 32
Preconditions to Loans and Letters of Credit. 6.1 Initial Line of Credit Loan or Initial Letter of Credit. Notwithstanding any provision contained herein to the contrary, none of the Lenders shall have any obligation to make the initial Line of Credit Loan hereunder and Regions shall have no obligation to issue a Letter of Credit hereunder unless each of the following requirements is satisfied and Lender has received each of the following documents:
Preconditions to Loans and Letters of Credit. 37 6.1 Initial Revolving Credit Loan, Initial Swing Loan or Letter of Credit 37 6.2 All Loans 38 6.3 Letters of Credit 39
Preconditions to Loans and Letters of Credit. 14 3.01 Initial Loan or Letter of Credit......................................14 3.02
Preconditions to Loans and Letters of Credit. 3.01 Initial Loan or Letter of Credit. Notwithstanding any provision ----------------------------------- contained in this Agreement to the contrary, Lender shall have no obligation to make the initial Loan under this Agreement or to issue the initial Letter of Credit under this Agreement unless Lender shall have first received:
Preconditions to Loans and Letters of Credit. . . . 46 8.1 Term Loan, Initial Revolving Credit Loan, Initial Swing Loan or Letter of Credit . . . . . . . . . 46 8.2
Preconditions to Loans and Letters of Credit. ... 46 6.1 Initial Revolving Credit Loan, Initial Swing Loan or Letter of Credit............................................... 46 6.2 All Loans...................................................... 47 6.3
