Actions on Funding Date Sample Clauses

Actions on Funding Date. Subject to satisfaction of the applicable ----------------------- conditions precedent set forth in Sections 3 and 4, on the Funding Date: (a) the Owner Participant shall make the Investment required to be made by it on the Funding Date; (b) the Pass Through Trustee, as Loan Participant, shall pay to the Owner Trustee the purchase price for the Secured Notes required to be purchased by it on the Funding Date, the Owner Trustee shall execute and deliver to the Indenture Trustee the Secured Notes, and the Indenture Trustee shall authenticate and register the Secured Notes and shall deliver the Secured Notes to the Pass Through Trustee, as Loan Participant; (c) for a purchase price equal to Total Vessel Cost, the Owner Trustee shall purchase from Seller and Seller shall sell to the Owner Trustee all of Seller's right, title and interest in and to the Vessel pursuant to the Xxxx of Sale, and Seller shall assign to the Owner Trustee its right in and to any Builder's warranties applicable to the Vessel or any part thereof (except to the extent such warranties may not be assigned or otherwise transferred, and subject to any limitations of liability therein) pursuant to the Conveyancing Instrument (the Builder's warranties with respect to the Vessel assigned by Seller to the Owner Trustee are limited to Article X of the contract for the construction of the Vessel dated January 30, 1997 between the Builder and Seller); (d) the Charterer will cause the Vessel to be duly documented in the name of the Owner Trustee, in accordance with the laws and regulations of the United States, with a coastwise trade endorsement; (e) simultaneously with the transfer of title to the Vessel to the Owner Trustee, the Owner Trustee shall charter to the Charterer, and the Charterer shall charter from the Owner Trustee, the Vessel pursuant to the Charter; (f) immediately after the actions set forth in Section 2.8(e), the Charterer shall subcharter the Vessel to the Seller pursuant to the Initial Subcharter; and (g) the Owner Trustee and the Indenture Trustee will execute and deliver the Indenture and the Ship Mortgage, and the Charterer shall cause the Ship Mortgage to be duly recorded in the offices of the National Vessel Documentation Center.
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Related to Actions on Funding Date

  • Conditions of Funding (a) The HSP will: fulfill all obligations in this Agreement; use the Funding only for the purpose of providing the Services in accordance with Applicable Law, Applicable Policy and the terms of this Agreement; spend the Funding only in accordance with the Service Plan; and plan for and achieve an Annual Balanced Budget. (b) The Funder may add such additional terms or conditions on the use of the Funding which it considers appropriate for the proper expenditure and management of the Funding. (c) All Funding is subject to all Applicable Law and Applicable Policy.

  • Conditions Precedent to All Borrowings The obligation of each Lender to make an Advance on the occasion of each Borrowing and of the Issuing Lender to issue, increase, or extend any Letter of Credit shall be subject to the further conditions precedent that on the date of such Borrowing or the date of the issuance, increase, or extension of such Letter of Credit: (a) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing, or Letter of Credit Application and the acceptance by the Borrower of the proceeds of such Borrowing or the issuance, increase, or extension of such Letter of Credit shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or on the date of such issuance, increase, or extension of such Letter of Credit, as applicable, such statements are true): (i) the representations and warranties contained in Article IV of this Agreement and the representations and warranties contained in the Security Instruments, the Guaranties, and each of the other Loan Documents are true and correct in all material respects on and as of the date of such Borrowing or the date of the issuance, increase, or extension of such Letter of Credit, before and after giving effect to such Borrowing or to the issuance, increase, or extension of such Letter of Credit and to the application of the proceeds from such Borrowing, as though made on and as of such date except to the extent that any such representation or warranty expressly relates solely to an earlier date, in which case it shall have been true and correct in all material respects as of such earlier date; and (ii) no Default has occurred and is continuing or would result from such Borrowing or from the application of the proceeds therefrom, or would result from the issuance, increase, or extension of such Letter of Credit; and (b) the Administrative Agent shall have received such other approvals, opinions, or documents reasonably deemed necessary or desirable by any Lender as a result of circumstances occurring after the date of this Agreement, as any Lender through the Administrative Agent may reasonably request.

  • Conditions Precedent to Obligation of the Company The obligation of the Company to effect the Exchange and otherwise consummate the transactions contemplated by this Agreement is subject to the satisfaction, at or prior to the Closing, of each of the following conditions:

  • Conditions Precedent to the Obligations of the Company to sell Securities The obligation of the Company to sell Securities at the Closing is subject to the satisfaction or waiver by the Company, at or before the Closing, of each of the following conditions:

  • STANDARD TERMS AND CONDITIONS OF TRUST Subject to the provisions of Part II hereof, all the provisions contained in the Standard Terms and Conditions of Trust are herein incorporated by reference in their entirety and shall be deemed to be a part of this instrument as fully and to the same extent as though said provisions had been set forth in full in this instrument.

  • Conditions Precedent to Obligations of the Company The obligations of the Company to effect the Merger and otherwise consummate the transactions contemplated by this Agreement are subject to the satisfaction, at or prior to the Closing, of the following conditions:

  • CONDITIONS PRECEDENT TO OBLIGATIONS OF THE BUYER The obligations of the Buyer to consummate the transactions contemplated by this Agreement are subject to the satisfaction (or waiver by the Buyer in writing) of the following conditions as of the Closing Date:

  • Conditions Precedent to Obligations of the Seller The obligations of the Seller to consummate the transactions contemplated by this Agreement are subject to the fulfillment, prior to or at the Closing Date, of each of the following conditions, any one or a portion of which may be waived in writing by the Seller;

  • Conditions Precedent to Loans and Letters of Credit 32 Section 3.1 Conditions To Effectiveness.................................................32 Section 3.2 Each Credit Event...........................................................33 Section 3.3 Delivery of Documents.......................................................34

  • of the Standard Terms and Conditions of Trust The Portfolio Supervisor may employ one or more sub- Portfolio Supervisors to assist in performing the services set forth in this Section 4.05 and shall not be answerable for the default of any such sub-Portfolio Supervisors if such sub-Portfolio Supervisors shall have been selected with reasonable care, provided, however, that the Portfolio Supervisor will indemnify and hold the Trust harmless from and against any loss occurring as a result of a sub- Portfolio Supervisor's willful misfeasance, reckless disregard, bad faith, or gross negligence in performing supervisory duties. The fees and expenses charged by such sub-Portfolio Supervisors shall be paid by the Portfolio Supervisor out of proceeds received by the Portfolio Supervisor in accordance with Section 4.03 hereof."

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