Subsequent Advances Sample Clauses

Subsequent Advances. The obligation of FINOVA to make any advance shall be subject to the further conditions precedent that, on and as of the date of such advance: (a) the representations and warranties of Borrower set forth in this Agreement shall be accurate, before and after giving effect to such advance or issuance and to the application of any proceeds thereof; (b) no Event of Default and no event which, with notice or passage of time or both, would constitute an Event of Default has occurred and is continuing, or would result from such advance or issuance or from the application of any proceeds thereof; (c) no material adverse change has occurred in the Borrower's business, operations, financial condition, in the condition of the Collateral, or other assets of Borrower or in the prospect of repayment of the Obligations; and (d) FINOVA shall have received such other approvals, opinions or documents as FINOVA shall reasonably request.

Subsequent Advances. The obligation of FINOVA to make any advance or issue or cause any Letter of Credit to be issued hereunder (including the initial advance or Letter of Credit) shall be subject to the further conditions precedent that, on and as of the date of such advance or Letter of Credit issuance: (a) the representations and warranties of Borrower set forth in this Agreement shall be accurate, before and after giving effect to such advance or issuance and to the application of any proceeds thereof; (b) no Event of Default and no event which, with notice or passage of time or both, would constitute an Event of Default has occurred and is continuing, or would result from such advance or issuance or from the application of any proceeds thereof; (c) no material adverse change has occurred in the Borrower's business, operations, financial condition, in the condition of the Collateral or other assets of Borrower or in the prospect of repayment of the Obligations; and (d) FINOVA shall have received such other approvals, opinions or documents as FINOVA shall reasonably request.

Subsequent Advances. In addition to the terms and conditions otherwise contained herein, the obligation of Lender to make each Facility A Advance after the initial Advance made pursuant to Section 6.1 is conditioned on each of the following conditions having been satisfied in a manner acceptable to Lender, in Lender's sole and absolute discretion, on and as of the date of such Advance: (a) Lender shall have received evidence satisfactory to Lender that the representations and warranties of Borrower in the Loan Documents are true and accurate and not misleading. (b) The Subordination and Intercreditor Agreements required by Lender shall have duly authorized and executed by the respective subordinating creditors and Lender and consented to by the Borrower. (c) Lender shall have received a true and correct copy of each of the Subordinated Notes required by Lender to be in effect as of the date of such Advance, and all security agreements and other instruments securing such Subordinated Notes, each bearing the legend required by the related Subordination and Intercreditor Agreement, and the Lender shall have approved the terms and conditions thereof. (d) The Loan Documents shall be in full force and effect, and the Liens and security interests granted to Lender thereby shall be perfected and in full force and effect with the priorities described therein. (e) If applicable, the Landlord Consents with respect to the Leases existing as of the date of such Advance shall have been duly authorized, executed and delivered by Landlords to Lender in form and substance acceptable to Lender in its sole and absolute discretion (f) Lender shall have received all fees, costs and expenses specified in the Loan Documents as are then due and payable by Borrower to Lender. (g) Lender shall have received evidence that the insurance required under the Loan Documents is in full force and effect, that Lender is named as a loss payee thereunder, and that each of such insurance polices includes a provision requiring the insurer to provide Lender at least 30 days' prior written notice of the cancellation, expiration, termination or any change in the coverage afforded thereby. (h) No Default or Event of Default shall exist. (i) All proceedings to be taken in connection with such Advance and all documents incident thereto shall be satisfactory in form and substance to Lender. (j) Lender shall have received a Compliance Certificate dated not more than 5 days prior to the Advance.

Subsequent Advances. Where the Minister is satisfied and has determined that the Recipient's cash flow requirements justify the need, the Minister may, at the Minister’s sole discretion, make additional advances for Xxxxxxxx and Supported Costs, subject to the following: (i) the Recipient follows the requirements outlined under (a) (i) and (a) (ii) above with respect to any subsequent advance; (ii) the Recipient provides a statement of the Eligible and Supported Costs incurred during the previous advance period, or any other advance period, certified by a financial officer or other representative of the Recipient; (iii) the Recipient provides a satisfactory report on progress and spending to date substantially in the form prescribed by the Minister; and (iv) the Recipient submits the advance request at least two (2) weeks prior to the start of the advance period to which the advance request pertains.

Subsequent Advances. The obligation of Lender to make any advance hereunder (including the initial advance) shall be subject to the further conditions precedent that, on and as of the date of such advance: (a) the representations and warranties of Borrower set forth in this Agreement shall be accurate, before and after giving effect to such advance or issuance and to the application of any proceeds thereof; (b) no Default or Event of Default has occurred and is continuing, or would result from such advance or issuance or from the application of any proceeds thereof; (c) no material adverse change has occurred in the Borrower's business subsequent to the immediately preceding advance hereunder, operations, financial condition, or assets or in the prospect of repayment of the Indebtedness; (d) Lender shall have received such other approvals, opinions or documents as Lender shall reasonably request; and (e) Borrower shall submit to Lender a completed Request for Advance Report in the form and substance of Exhibit "A" attached hereto, on the date such advance is requested or shall have complied with the provisions concerning oral advances hereunder as set forth in Section 4.3 hereof.

Subsequent Advances. At the time of each advance under the Line of Credit, no Event of Default or Unmatured Event of Default shall have occurred and be continuing, and the representations and warranties contained in this Agreement, including without limitation those in Section 5 hereof, shall be true and correct as of the date of the advance except as previously disclosed in writing to Bank.

Subsequent Advances. (a) The Lender shall not be obligated to fund any Loan or incur any Letter of Credit Obligations if any of the following statements shall fail to be true on the date of each such funding, advance or incurrence, as the case may be: (i) All of the Borrower's representations and warranties contained herein or in any of the Loan Documents shall be true and correct on and as of the Closing Date and the date on which each such Advance is made (or each such Letter of Credit Obligation is incurred), as though made or incurred on and as of such date, except to the extent that any such representation or warranty expressly relates to an earlier date and except for changes therein expressly permitted or expressly contemplated by this Agreement. (ii) Any event or circumstance having a Material Adverse Effect shall have occurred since June 30, 1997. (iii) No event shall have occurred and be continuing, or would result from the making of any Advance (or the incurrence of any Letter of Credit Obligation) which constitutes or would constitute a Default or an Event of Default. (iv) After giving effect to such Working Capital Loan Advance (or the incurrence of any Letter of Credit Obligation), the aggregate principal amount of the Working Capital Revolving Loans shall not exceed the maximum amount permitted by Section 2.1 without requiring that a payment be made to the ----------- Lender. (v) Each of the conditions set forth in Section 5.1(a) through (f) -------------- shall continue to be satisfied by the Borrower as of such date. The request and acceptance by the Borrower of the proceeds of any Advance shall be deemed to constitute, as of the date of such request or acceptance, (i) a representation and warranty by the Borrower that the conditions in this Section have been satisfied, and (ii) a confirmation by the Borrower of the granting and continuance of the Lender's Liens pursuant to the Collateral Documents. (b) The Borrower agrees that upon the occurrence of a Default, the making of an Advance shall be in the Lender's sole and absolute discretion and the Lender shall not be required to declare a default and accelerate the Obligations.

Subsequent Advances. As a condition precedent to the Lenders' ------------------- obligation to make any Advance after the Closing Date, the following conditions shall all be satisfied on the date of such Advance:

Subsequent Advances. This Note shall represent the unpaid principal balance of an account payable owing by Maker to Payee on the date hereof. Payee shall have no obligation to make any additional advances to Maker.

Subsequent Advances. Each Loan after the first Loan (hereinafter, a "Subsequent Advance") shall be subject to the condition precedent that all conditions to funding of the first Loan were satisfied or waived on the Closing Date and to the further satisfaction of each of the following conditions precedent, unless specifically waived in writing by Agent at or prior to the time of each such Subsequent Advance: