Additional Conditions Precedent to All Advances. Each Advance shall be subject to the further conditions precedent that:
(a) On the related Funding Date, the Borrower or the Servicer, as the case may be, shall have certified in the related Borrower Notice that:
(i) The representations and warranties set forth in Sections 4.1 and 7.8 are true and correct on and as of such date, before and after giving effect to such borrowing and to the application of the proceeds therefrom, as though made on and as of such date; and
(ii) No event has occurred, or would result from such Advance or from the application of the proceeds therefrom, that constitutes an Early Termination Event or an Unmatured Termination Event.
(b) The Termination Date shall not have occurred;
(c) Before and after giving effect to such borrowing and to the application of proceeds therefrom, the Collateral Quality Test shall be satisfied, as calculated on such date;
(d) Before and after giving effect to such borrowing and to the application of proceeds therefrom, the Borrowing Base Test shall be satisfied, as calculated on such date;
(e) No (i) claim has been asserted or proceeding commenced challenging enforceability or validity of any of the Transaction Documents or (ii) material claim has been asserted or proceeding commenced challenging enforceability or validity of any of the Loan Documents, in each case, excluding any instruments, certificates or other documents relating to Loans that were the subject of prior Advances;
(f) There shall have been no Material Adverse Change with respect to the Borrower or the Servicer since the preceding Advance; and
(g) The Servicer and Borrower shall have taken such other action, including delivery of approvals, consents, opinions, documents, and instruments to the Managing Agents as each may reasonably request.
Additional Conditions Precedent to All Advances. Each Advance shall be subject to the further conditions precedent that:
(a) On the related Funding Date, the Borrower or the Manager, as the case may be, shall have certified in the related Borrower Notice that:
(i) The representations and warranties set forth in Sections 4.1, 4.2 and 7.5 are true and correct on and as of such date, before and after giving effect to such borrowing and to the application of the proceeds therefrom, as though made on and as of such date (except to the extent such representations and warranties expressly relate to a specific earlier date, in which case such representations and warranties shall be true and correct as of such earlier date); and
(ii) No event has occurred, or would result from such Advance or from the application of the proceeds therefrom, that constitutes an Event of Default or a Default.
(b) The Termination Date shall not have occurred; and
(c) Before and after giving effect to such borrowing and to the application of proceeds therefrom (i) each of the Collateral Tests shall be satisfied, as calculated on such date and (ii) the sum of Advances Outstanding and the Unfunded Exposure Amount shall not be greater than the Facility Amount.
Additional Conditions Precedent to All Advances. In accordance with the provisions of Section 3.02, each Advance is subject to the following conditions:
(a) except in the case of a Required Payment Advance, on the dates specified in Section 1.02 and in the Funding Allocation Procedures, the Funding Note Issuer shall have delivered to the Conduit Administrator and the Manager (i) a Funding Request, (ii) an Advance Confirmation, and (iii) any cash collateral required to be posted to the Breakage Account in accordance with Section 1.02(b);
(b) [Reserved];
(c) except in the case of a Required Payment Advance, an Agreed Upon Procedures Letter shall be delivered to the Manager and the Conduit Administrator, by no later than 3:00 p.m. on the seventh (7th) Business Day prior to the Advance Date, and the Conduit Administrator shall have confirmed to the Manager and the Funding Note Issuer on or before the seventh (7th) Business Day preceding the Advance Date that the Conduit Administrator was able to verify, with no exceptions, that all Student Loans listed on the Loan Transmittal Summary Forms attached to all Loan Designation Notices received since the date of the most recent Agreed Upon Procedures Letter (if any) delivered to the Manager and the Conduit Administrator were included in the relevant loan data file transmitted to the Conduit Administrator pursuant to Section 1.02(c) in connection with such Agreed Upon Procedures Letter; provided that (1) if the Agreed Upon Procedures Letter discloses that any Student Loan in the relevant sample does not meet the eligibility criteria specified in the guidelines published by the Department, then such Student Loan (i) shall be excluded from the relevant pool of Student Loans for such Agreed Upon Procedures Letter and (ii) shall not be included as a Financed Student Loan to be Granted to the Conduit on the relevant Grant Date, and (2) if the Agreed Upon Procedures Letter discloses that any Student Loan in the relevant sample is not a Putable Loan, then the Funding Note Issuer and the Master Servicer shall provide to the Conduit Administrator and the Manager by no later than 3:00 p.m. on the seventh (7th) Business Day prior to the Advance Date (i) a report explaining the cause of noncompliance and the procedures that the Funding Note Issuer and the Master Servicer have or will implement to assure compliance by the Financed Student Loans with the criteria for Putable Loans and (ii) an additional Agreed Upon Procedures Letter using a sample as may be determined by the pub...
Additional Conditions Precedent to All Advances. Wxxxx Fargo’s obligation to make any Advance (including the initial Advance) shall be subject to the further additional conditions: (a) that the representations and warranties described in Exhibit D are correct on the date of the Advance, except to the extent that such representations and warranties relate solely to an earlier date; and (b) that no event has occurred and is continuing, or would result from the requested Advance that would result in an Event of Default.
Additional Conditions Precedent to All Advances. Lender shall be obligated to make an Advance only if Borrower shall have delivered to Lender a Draw Request for such Advance. Borrower may not submit more than two (2) Draw Requests per Calendar Month. Lender shall not be required to make the requested Advance before ten (10) Business Days after receipt of the Draw Request. Notwithstanding the foregoing, Lender shall make no Advances to pay interest under the Loan prior to delinquency regardless of the then-current Borrowing Availability.
Additional Conditions Precedent to All Advances. Lender shall be obligated to make an Advance only if Borrower shall have delivered to Lender a Draw Request for such Advance. Borrower may not submit more than two (2) Draw Requests per each Calendar Month. Lender shall not be required to make the requested Advance before three (3) Business Days after receipt of the completed Draw Request (together with any required inspection report as provided in Section 2.4.3(a) above). Notwithstanding the foregoing, Lender may make Advances, without further authorization or Draw Requests from Borrower, to pay interest prior to delinquency to the extent of the Available Commitment; provided, however, that from and after the occurrence and during the continuation of an Unmatured Event of Default or an Event of Default, such Advances to pay interest may be made in the sole and absolute discretion of Lender.
Additional Conditions Precedent to All Advances. Lender shall be obligated to make an Advance only if Borrower shall have delivered to Lender a Draw Request for such Advance. Borrower may not submit more than one (1) Draw Request per Business Day. Lender shall not be required to make the requested Advance before five (5) Business Hours after receipt of the Draw Request. Notwithstanding the foregoing, Lender may make Advances, without further authorization or Draw Requests from Borrower, to pay interest prior to delinquency to the extent of the Available Commitment; provided, however, that from and after the occurrence and during the continuation of an Unmatured Event of Default or an Event of Default, such Advances to pay interest may be made in the sole and absolute discretion of Lender.
Additional Conditions Precedent to All Advances. Bank shall be obligated to make any Advance only upon satisfaction of the following additional conditions precedent, as determined by Bank in its reasonable discretion:
Additional Conditions Precedent to All Advances. Buyer shall be obligated to make an Advance of the Acquisition Price only upon satisfaction of the following additional conditions precedent, as determined by Xxxxx in its absolute
Additional Conditions Precedent to All Advances. Each Advance (including any Swingline Advance) shall be subject to the further conditions precedent that: (a) The Borrower shall have delivered a Funding Request in accordance with the procedures set forth in Section 2.2 and certified in the related Borrower Notice that: (i) The representations and warranties set forth in Section 4.1 are true and correct in all material respects on and as of such date and the related Funding Date, before and after giving effect to such borrowing and to the application of the proceeds therefrom, as though made on and as of such date (except for representations and warranties that are qualified by materiality, a Material Adverse Effect or any similar qualifier, which representations shall be true and correct in all respects as of such date and the related Funding Date); and (ii) No event has occurred, or would result from such Advance or from the application of the proceeds therefrom, that constitutes an Event of Default or an Unmatured Event of Default; (b) The Termination Date shall not have occurred; (c) Before and after giving effect to such Advance and to the application of
