Post-First Amendment Effective Date Obligations Sample Clauses

Post-First Amendment Effective Date Obligations. Within forty-five (45) days of the First Amendment Effective Date, the Borrower shall cause the following to occur:
Sample 1
AutoNDA by SimpleDocs
Post-First Amendment Effective Date Obligations. The Loan Parties hereby agree to deliver to the Agents within 30 days of the First Amendment Effective Date, or such later date as the Agents shall agree in their reasonable discretion, (a) all Control Agreements that, in the reasonable judgment of the Agents, are required for the Loan Parties to comply with the Loan Documents as of the First Amendment Effective Date, each duly executed by, in addition to the applicable Loan Party, the applicable financial institution with respect to each account listed on Schedule IV of each Security Agreement Supplement, (b) BVI Borrower shall have irrevocably appointed a process agent as its agent to receive service of the summons and complaint and any other process which may be served in any action or proceeding brought in the courts of the State of New York located in New York, New York, or of the United States of America sitting in New York, New York, (c) certificated membership interests (together with effective endorsements thereof executed in blank), and organizational documents of RAAD evidencing the election by RAAD to “opt-in” to Article 8 of the UCC, in each case in form and substance satisfactory to the Collateral Agent, (d) a favorable opinion of California counsel to the Loan Parties reasonably acceptable to the Agents as to such customary matters as the Agents may reasonably request and (e) evidence of the insurance coverage required by Section 7.01(h) of the Financing Agreement and evidence that such insurance coverage is in full force and effect.
Sample 1
Post-First Amendment Effective Date Obligations. In addition to the conditions to effectiveness set forth in Section 3 above, the Borrowers hereto agree that within 60 days of the First Amendment Effective Date, Agent shall have received from Borrowers, and at Borrowers’ expense, newly updated appraisals for the owned Real Estate listed on Schedule A hereto, in each case from appraisers chosen by Agent and in form and substance reasonably satisfactory to Agent. The parties hereto agree (i) to the extent that the results of such appraisals indicate that the aggregate appraised fair market value of all such owned Real Estate listed on Schedule A hereto (the “New Appraised Fair Market Value”) is less than the aggregate appraised market value of all such owned Real Estate listed on Schedule A hereto currently included in the Real Estate Borrowing Base, as reduced by any amortization pursuant thereto (the “Existing Appraised Fair Market Value”), the Agent shall be permitted to reduce the Real Estate Borrowing Base by an amount equal to the difference between the New Appraised Fair Market Value and the Existing Appraised Fair Market Value and (ii) such appraisals shall not count against the limited number of Real Estate appraisals for which expense reimbursement may be sought pursuant to clause (f) of Annex E to the Credit Agreement. The failure by Borrowers to deliver the appraisals required pursuant to this Section 4 within the timeframe set forth herein shall constitute an immediate Event of Default.
Sample 1

Related to Post-First Amendment Effective Date Obligations

  • Amendment Effective Date This Amendment shall become effective as of the first date (the “Amendment Effective Date”) on which each of the following conditions shall have been satisfied:

  • Restatement Effective Date The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02):

  • Agreement Effective Date This Agreement shall become effective and binding upon each Party immediately following the occurrence of the following conditions (the “Agreement Effective Date”):

  • Amendment Effectiveness This Amendment shall become effective as of the first date (the “First Refinancing Amendment Effective Date”) on which the following conditions have been satisfied:

  • Termination Amendment and Waiver 46 7.1 Termination....................................................................................46 7.2

  • Amendment and Restatement of the Existing Credit Agreement The parties to this Agreement agree that, upon (i) the execution and delivery by each of the parties hereto of this Agreement and (ii) satisfaction of the conditions set forth in Section 3.01, the terms and provisions of the Existing Credit Agreement shall be and hereby are amended, superseded and restated in their entirety by the terms and provisions of this Agreement. This Agreement is not intended to and shall not constitute a novation. All loans made and obligations incurred under the Existing Credit Agreement which are outstanding on the Effective Date shall continue as Obligations under (and shall be governed by the terms of) this Agreement and the other Loan Documents. Without limiting the foregoing, upon the effectiveness hereof: (a) all references in the “Loan Documents” (as defined in the Existing Credit Agreement) to the “Agent”, the “Credit Agreement” and the “Loan Documents” shall be deemed to refer to the Agent, this Agreement and the Loan Documents, (b) all obligations constituting “Obligations” with any Lender or any Affiliate of any Lender which are outstanding on the Effective Date shall continue as Obligations under this Agreement and the other Loan Documents, (c) the Agent shall make such reallocations, sales, assignments or other relevant actions in respect of each Lender’s credit and loan exposure under the Existing Credit Agreement as are necessary in order that each such Lender’s outstanding Revolving Credit Advances hereunder reflect such Lender’s Pro Rata Share of the outstanding aggregate Revolving Credit Advances on the Effective Date, (d) the Existing Revolving Credit Advances (as defined in Section 2.01) of each Departing Lender shall be repaid in full (accompanied by any accrued and unpaid interest and fees thereon), each Departing Lender’s “Commitment” under the Existing Credit Agreement shall be terminated and each Departing Lender shall not be a Lender hereunder, and (e) the Borrower hereby agrees to compensate each Lender (including each Departing Lender) for any and all losses, costs and expenses incurred by such Lender in connection with the sale and assignment of any Eurodollar Rate Advances (including the “Eurodollar Rate Advances” under the Existing Credit Agreement) and such reallocation described above, in each case on the terms and in the manner set forth in Section 8.04(c) hereof.

  • Amendment, Etc No amendment, modification or waiver of any provision of this Indenture relating to any Guarantor or consent to any departure by any Guarantor or any other Person from any such provision will in any event be effective unless it is signed by such Guarantor and the Trustee.

  • Contract Effective Date This agreement becomes effective when signed by the last party whose signing makes the agreement fully executed.

  • Effective Date of Agreement The provisions of the agreement will come into full force and effect on the date of ratification, unless specified otherwise.

  • Amendment, Extension and Waiver Subject to applicable law, at any time prior to the consummation of the transactions contemplated by this Agreement, the parties may (a) amend this Agreement, (b) extend the time for the performance of any of the obligations or other acts of either party hereto, (c) waive any inaccuracies in the representations and warranties contained herein or in any document delivered pursuant hereto, or (d) waive compliance with any of the agreements or conditions contained in Articles V and VI hereof or otherwise; provided, however, that after any approval of the transactions contemplated by this Agreement by Innes Street's shareholders, there may not be, without further approval of such shareholders, any amendment of this Agreement which reduces the amount or changes the form of the consideration to be delivered to Innes Street shareholders hereunder other than as contemplated by this Agreement. This Agreement may not be amended except by an instrument in writing authorized by the respective Boards of Directors and signed, by duly authorized officers, on behalf of the parties hereto. Any agreement on the part of a party hereto to any extension or waiver shall be valid only if set forth in an instrument in writing signed by a duly authorized officer on behalf of such party, but such waiver or failure to insist on strict compliance with such obligation, covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure.

Time is Money Join Law Insider Premium to draft better contracts faster.