CONDITIONS FOR BORROWING. The Bank’s obligation to make any Loan is subject to the satisfaction, on or before the following Borrowing Dates, of the following conditions:
CONDITIONS FOR BORROWING. The Lenders' obligations to make Revolving Loans is subject to the satisfaction, on or before the following Borrowing Dates, of the following conditions:
4.1 On or Before the Closing Date. The Agent shall have received the following, all in form, detail and content satisfactory to the Lenders:
CONDITIONS FOR BORROWING. In addition to all conditions to borrowing set forth in Section 5.1 of the Master Loan Agreement, Xxxxxx’s obligation to make any advance under the Loan described in this Supplement is subject to the satisfaction or waiver by Lender in writing of the following conditions: 3.1 Lender shall have received the following by the applicable Closing Date, all in form, detail and content satisfactory to Lender: (a) On or before the first Closing Date, Term Note J duly executed by Borrowers; (b) On or before each Closing Date, a Disbursement Request and Authorization duly executed by Xxxxxxxxx; (c) On or before the first Closing Date, payment of the Commitment Fee and Xxxxxx’s Costs; (d) On or before the first Closing Date, Commercial Security Agreement, duly executed by Borrowers, together with any and all other documents or instruments Lender reasonably deems necessary to grant to Lender and perfect a first position Lien in the collateral described therein; provided, however, that Xxxxxx agrees that Borrowers will not have ownership of or the right to grant a first position Lien in an Aircraft or in an Engine until it has purchased the Aircraft or Engine, and the Aircrafts and Engines will be purchased in multiple Closings on different Closing Dates; (e) On or before each Closing Date, evidence in a form reasonably acceptable to Lender that, prior to or concurrently with such Closing Date, Borrowers acquired the Aircraft(s) and Engine(s) to be purchased on such Closing Date, and such Aircraft(s) and Engine(s) is/are described in the Commercial Security
CONDITIONS FOR BORROWING. In addition to all conditions to borrowing set forth in Section 5.1 of the Master Loan Agreement, Lender’s obligation to make the Loan described in this Supplement is subject to the satisfaction or waiver by Lender in writing on or before the Closing Date of such Loan of the following conditions:
3.1. Lender shall have received the following, all in form, detail and content satisfactory to Lender:
(a) Term Note A duly executed by both Borrowers.
CONDITIONS FOR BORROWING. The obligation of the Lender to provide the Borrowing on Drawdown date hereunder shall be subject to the fulfillment of the following terms and conditions:
(a) The Lender shall have received the Note/s (in the form as per attached Exhibit “A”), duly executed by the Borrower in favor of the Lender evidencing the Borrowing to be made on Drawdown date.
(b) Each of the Loan Documents shall have been duly authorized by and executed by the parties thereto, and shall be legally binding on each of them in accordance with their respective terms.
(c) The Lender shall have received copies, certified by the Corporate Secretary of the Borrower, of the Securities and Exchange Commission Certificate of Registration, Articles of Incorporation and By Laws or other constitutive documents, as appropriate, of the Borrower, each as amended to date.
(d) The Lender shall have received such other approvals, certificates or other document which the Lender may reasonably request from the Borrower for the execution of the Loan documents.
CONDITIONS FOR BORROWING. (a) The obligation of the Lenders to permit the first Borrowing under the Revolving Facility is subject to the following additional conditions that, on the date thereof:
(i) no Event of Default or Potential Default shall have occurred and be continuing;
(ii) the Agent shall have received a Draw Request and an Officer's Certificate (including in such Certificate a statement that the representations and warranties set out in Section 16.1 are true and correct as of the date thereof);
(iii) the Lenders shall have received projected financial statements of the Borrower and its Subsidiaries for the three-year period 2004-2007 and shall be satisfied with such projected statements;
(iv) all fees then due to the Agent and the Lenders shall have been paid and the Agent and the Lenders shall have been reimbursed for all expenses incurred and invoiced by them to that date;
(v) no event or circumstance shall have occurred since September 30, 2003 which would result in a Material Adverse Effect;
(vi) the Agent shall have received, in form and substance satisfactory to it, acting reasonably, a legal opinion from Bull, Housser & Tupper, counsel to the Borrower, and a legxx xxxnion from Fraser Milner Casgrain LLP, counsel to the Lenderx xxx the Agent;
(vii) all bank credit facilities of the Borrower and its Material Subsidiaries, other than as described in Schedule C, and the Series B-D Notes shall have been repaid and cancelled, or arrangements for repayment and cancellation satisfactory to the Agent shall have been made;
(viii) all steps, proceedings and registrations reasonably required by counsel for the Agent in connection with the Loan Documents shall have been satisfactorily completed;
(ix) the Agent shall have received, in form and substance satisfactory to it, all agreements that it requires from any landlord of the Borrower and of any Material Subsidiary;
(x) the Agent shall have received all other documents and agreements as the Agent may reasonably require.
(b) The obligations of the Lenders to permit subsequent Borrowings are subject to the following additional conditions that, on the date thereof:
(i) no Event of Default or Potential Default shall have occurred and be continuing;
(ii) the representations and warranties set out in Section 16.1 (and Section 16.1(d) shall be read as if it referred to the most recent Financial Statements delivered to the Agent pursuant to Sections 17.4(a) and (b)) are true and correct; and
(iii) the aggregate of the amounts outst...
CONDITIONS FOR BORROWING. In addition to all conditions to borrowing set forth in Section 5.1 of the Master Loan Agreement, Lender’s obligation to make the Loan described in this Supplement is subject to the satisfaction or waiver by Lender in writing on or before the Closing Date of such Loan of the following conditions:
3.1. Lender shall have received the following, all in form, detail and content satisfactory to Lender:
(a) Term Note C duly executed by both Borrowers.
(b) The fee due under Section 2.5 hereof.
(c) A Beneficial Interest Pledge Agreement, in the form of Exhibit B, properly executed by CAL, together with any and all other documents or instruments Lender reasonably deems necessary to grant to Lender and perfect a first position Lien in all of CAL’s beneficial interest in that certain trust described in the Trust Agreement (Aircraft MSN 30241) dated as of August 22, 2016, between Xxxxx Fargo Trust Company, National Association, as owner trustee (the “Owner Trustee”), and CIT Aerospace, LLC as the original Trust settlor, as amended, assigned, supplemented, restated, and modified from time to time (the “Trust Agreement”), all in form and substance reasonably satisfactory to Lender.
(d) A Trust Aircraft Security Agreement in the form of Exhibit C (the “TASA”), properly executed by the Owner Trustee, together with any and all other documents or instruments Lender reasonably deems necessary to grant to Lender and perfect a first position Lien on the collateral described in the TASA, all in form and substance reasonably satisfactory to Lender.
(e) A third party written legal opinion opining that:
(i) CAL has the due power and authority to grant the lien described in Section 3.1(c) above;
(ii) Owner Trustee has due power and authority to grant the Lien described in Section 3.1(d) above; and
(iii) The Liens described in Sections 3.1(c) and 3.1(d) are valid and enforceable and neither violate any term or provision of the Trust Agreement.
(f) Evidence in a form reasonably acceptable to Lender that, prior to or concurrently with the execution of this Supplement, CAL acquired the interest in the trust described in the Beneficial Interest Pledge Agreement and that the trust acquired the collateral described in the TASA, and in each case, such is owned free and clear of all liens, claims and encumbrances.
(g) An Agreement to Provide Insurance in the form of Exhibit D, properly executed by the Borrowers.
CONDITIONS FOR BORROWING. In addition to all conditions to borrowing set forth in Section 5.1 of the Master Loan Agreement, Lender’s obligation to make the Loan described in this Supplement is subject to the satisfaction or waiver by Lender in writing on or before the Closing Date of such Loan of the following conditions:
a. Lender shall have received the following, all in form, detail and content satisfactory to Lender:
(i) Term Note G duly executed by both Borrowers.
(ii) The Main Street Priority Loan Facility form of Borrower Certifications and Covenants in a form identical to that attached hereto as Exhibit B (the "Borrower Certifications and Covenants") executed by both Borrowers.
(iii) The fee due under Section 2.5 hereof.
(iv) Evidence in a form reasonably acceptable to Lender that Borrowers have the due power and authority to execute and perform this Supplement and Term Note G.
(v) Lender shall have received a Commitment Letter from MS Facilities LLC that it will purchase a participation interest of $41,418,000.00 aggregate principal amount of Term Loan G under the Main Street Program.
CONDITIONS FOR BORROWING. Lender’s obligation to make any Loan is subject to the satisfaction or waiver by Lender in writing, on or before the following dates, of the following conditions:
CONDITIONS FOR BORROWING. 4.1 On or Before the Effective Date 30 4.2 On or Before Each Subsequent Borrowing Date 31
