Agreement to Make Available the Facility Clause Samples
The "Agreement to Make Available the Facility" clause establishes the lender's commitment to provide a specified loan or credit facility to the borrower under agreed terms. This clause typically outlines the type and amount of facility being offered, the conditions that must be met before funds are made available, and the timeframe during which the facility can be accessed. Its core practical function is to formalize the lender's obligation to provide financing, ensuring both parties have a clear understanding of the availability and terms of the facility, thereby reducing uncertainty and potential disputes.
Agreement to Make Available the Facility. The effectiveness of this Agreement is subject to the conditions precedent that Agent and Lenders shall have received (or, at Agent’s sole discretion with respect to any of the Section 4.1.11 requirements as they pertain to a Project or Projects, and with respect to the Section 4.1.12 requirements, waived) on or before the date hereof (which may include, at Agent’s discretion, documents delivered in connection with the Existing Credit Facility) all of the following collateral documents, each in form and substance satisfactory to the Agent:
4.1.1 If requested pursuant to Section 2.10.1, the Line of Credit Notes, duly executed by the Master Borrower and by each other Borrower.
4.1.2 The Guaranty, duly executed by Guarantor in favor of Agent for the ratable benefit of the Lenders.
4.1.3 The Security Agreement, duly executed by Guarantor in favor of Agent for the ratable benefit of the Lenders and, not later than 30 days after the Closing Date (or such later date as agreed to by Agent), such federal and state forms that may be necessary or, in the opinion of Agent, desirable in order to create in favor of Agent, for the benefit of Lenders, a valid and (upon such filing and recording or filing) perfected first priority security interest in all tax refunds and proceeds thereof received by, or payable to, Borrowers or Guarantor after the Closing Date.
4.1.4 If requested pursuant to Section 2.10.2, the Swing Line Note, duly executed by the Master Borrower and by each other Borrower.
4.1.5 Certified copies of all corporate, limited partnership and limited liability company action (as appropriate) taken by Borrowers and Guarantor, including resolutions of their respective Boards of Directors, authorizing the execution, delivery and performance of the Loan Documents to which each is a party.
4.1.6 An incumbency and signature certificate (dated as the date of this Agreement) of the Secretaries, general partners, managers or members (as appropriate) of each Borrower and Guarantor, certifying the names and true signatures of the officers or other authorized Persons of Borrower and Guarantor authorized to sign the Loan Documents to which it is a party.
4.1.7 A copy of the Organizational Documents of each Borrower and Guarantor, certified as true and correct by its respective Secretary, general partner, manager or members.
4.1.8 A Subsistence Certificate for each Borrower and Guarantor, issued within thirty (30) days prior to the date hereof, from the state of such entity...
Agreement to Make Available the Facility. The agreement of Agent and Lenders to enter into this Agreement is subject to the conditions precedent that Agent and Lenders shall have received (or, at Requisite Lenders' sole discretion with respect to any of the Section 4.1.10 requirements as they pertain to a Project or Projects, waived) on or before the date hereof (which may include, Agent's discretion, documents delivered in connection with the Original Credit Facility) all of the following collateral documents, each in form and substance satisfactory to the Agent:
Agreement to Make Available the Facility. Subject to the terms and conditions of this Agreement and upon relying on each of the representations and warranties set out in Section 3.01 and Section 3.02 herein, MDV hereby agrees:
(1) to grant the Facility to the Customer and the Customer shall be entitled to utilise the Facility upon the terms and conditions as set out in the Letter(s) of Offer and this Agreement;
(2) that the Facility shall be made available to the Customer during the Availability Period in such form, nature and manner and on such terms and conditions as MDV and the Customer may from time to time mutually agree;
(3) that nothing in this Agreement shall be deemed to impose on MDV any obligation whether at law or in equity to make available or to continue to make available the Facility to the Customer.
