Tesoro Panama Effective Date definition

Tesoro Panama Effective Date means the date on which the Agent shall have received from Tesoro Panama: (a) a Guaranty in substantially the form executed on March 16, 2011 or a supplement thereto pursuant to which Tesoro Panama shall become a party thereto, (b) a restated Schedule 5.8 identifying Tesoro Panama as a Subsidiary Guarantor, (c) all appropriate corporate resolutions and other documentation (including opinions of counsel), as shall be reasonably requested by the Agent, including any related documents governed by Panama law), in each case under this clause (c), in form and substance reasonably satisfactory to the Agent, and (d) an acknowledgment by Tesoro Panama that its entry into the Guaranty is a condition to and is given as an inducement for and in consideration of credit accommodations extended to the Borrower under this Agreement and the other Loan Documents and not for any credit accommodation extended to Tesoro Panama.”

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