Condition to Purchases Clause Samples
A Condition to Purchases clause sets out specific requirements or events that must be satisfied before a purchase transaction can be completed. In practice, these conditions might include obtaining regulatory approvals, securing financing, or ensuring that certain representations and warranties remain true up to the closing date. The core function of this clause is to protect the parties by ensuring that all necessary prerequisites are met before the purchase is finalized, thereby reducing the risk of incomplete or problematic transactions.
Condition to Purchases. The following shall be conditions precedent to the obligation of any Class A-2 Purchaser to purchase its share of any Additional Class A-2 Principal Amount (other than an Additional Class A-2 Principal Amount which refunds a Swingline Borrowing) on any Purchase Date (including the Closing Date):
(a) the Administrative Agent and Agents shall have timely received a properly completed Borrowing Notice, which shall include a Borrowing Base Confirmation and Schedule of Receivables;
(i) all interest, fees, expenses and all other amounts then due and payable to the Administrative Agent or any Class A-2 Purchaser or Agent hereunder shall have been paid, and (ii) no Termination Event, and no event that, after the giving of notice or the lapse of time, would constitute a Termination Event, shall have occurred and be continuing;
(c) in the case of any Borrowing Date, all conditions to the issuance of the Additional Class A-2 Principal Amount and any Additional Class B Principal Amount, Additional Class C Principal Amount, Additional Class D Principal Amount and Additional Class E Principal Amount to occur on such Borrowing Date set forth in the Indenture or any other Related Document shall have been satisfied;
(d) after giving effect to the issuance of the Notes or the issuance of the Additional Class A-2 Principal Amount and any Additional Class B Principal Amount, Additional Class C Principal Amount, Additional Class D Principal Amount and Additional Class E Principal Amount to occur on such Borrowing Date, all representations and warranties of the Sellers, the Issuer and the Servicer contained herein or in the Related Documents or otherwise made in writing pursuant to any of the provisions hereof or thereof shall be true and correct in all material respects with the same force and effect as though such representations and warranties had been made on and as of such date (other than representations and warranties in Section 4.1(f) which specifically relate to an earlier date, which shall be true and correct in all material respects as of such earlier date);
(e) after giving effect to the issuance of the Notes or the issuance of the Additional Class A-1 Principal Amount and any Additional Class B Principal Amount, Additional Class C Principal Amount, Additional Class D Principal Amount and Additional Class E Principal Amount to occur on such Borrowing Date, the Class A-2 Principal Balance shall be equal to or less than the Class A-2 Facility Limit;
(f) after giving e...
Condition to Purchases. The following shall be conditions precedent to the obligation of any Class B Purchaser to purchase its share of any Additional Class B Principal Amount on any Purchase Date (including the Effective Date): 34
Condition to Purchases. The following shall be conditions precedent to the obligation of any Class A Purchaser to purchase its share of any Additional Class A Principal Amount on any Purchase Date (including the Effective Date): 34
Condition to Purchases