Common use of Conditions of First Advance Remain Satisfied Clause in Contracts

Conditions of First Advance Remain Satisfied. The Lender shall have determined, in its sole judgment, that the conditions precedent to the first Advance are satisfied as of the Borrowing Date for the subsequent Advance; the Loan Documents shall remain in full force and effect; and neither the Borrower nor any Person providing Collateral or a guaranty shall have purported to terminate any of the Loan Documents or notified Lender of an intention not to perform under any applicable Loan Document;

Appears in 2 contracts

Samples: Revolving Line of Credit Loan Agreement (Varsity Group Inc), Revolving Line of Credit Loan Agreement, Term Loans Agreement and Security Agreement (On Site Sourcing Inc)

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Conditions of First Advance Remain Satisfied. The Lender shall have determined, in its sole judgment, that the conditions precedent to the first Advance are satisfied as of the Borrowing Date for the subsequent Advance; the Loan Documents shall remain in full force and effect; and neither the Borrower nor any Person providing Collateral or a guaranty shall have purported to terminate any of the Loan Documents or notified the Lender of an intention not to perform under any applicable Loan Document;.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement (Efj Inc)

Conditions of First Advance Remain Satisfied. The Lender shall have determined, in its sole judgment, that the conditions precedent to the first Advance are satisfied as of the Borrowing Date for the subsequent AdvanceAdvance (other than the issuance of a new legal opinion); the Loan Documents shall remain in full force and effect; and neither the Borrower nor any Person providing Collateral or a guaranty Guaranty shall have purported to terminate any of the Loan Documents or notified Lender of an intention not to perform under any applicable Loan Document;

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement (Student Advantage Inc)

Conditions of First Advance Remain Satisfied. The Lender shall have determined, in its sole judgment, that the conditions precedent to the first Advance are satisfied as of the Borrowing Date for the subsequent Advance; the Loan Documents shall remain in full force and effect; and neither the Borrower nor any Person providing Collateral or a guaranty Guaranty shall have purported to terminate any of the Loan Documents or notified Lender of an intention not to perform under any applicable Loan Document;

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement (Spectrum Sciences & Software Holdings Corp)

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Conditions of First Advance Remain Satisfied. The Lender shall have determined, in its sole judgment, that the conditions precedent to the first Advance are satisfied as of the Borrowing Date for the subsequent Advance; the Loan Documents shall remain in full force and effect; and neither the Borrower Borrowers nor any Person providing Collateral or a guaranty shall have purported to terminate any of the Loan Documents or notified Lender of an intention not to perform under any applicable Loan Document;

Appears in 1 contract

Samples: Revolving Line of Credit Loan and Security Agreement (Essex Corp)

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