Conditions of Utilisation. 4.1 Initial conditions precedent
Conditions of Utilisation. 4.1 Initial conditions precedent
4.1.1 The Borrower may not deliver a Utilisation Request unless the Agent has received all the documentation and other evidence listed in Part 1 of Schedule 2 (Conditions Precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Borrower and the Lenders promptly upon being so satisfied.
Conditions of Utilisation. 4.1 Initial conditions precedent
(a) The Borrower may not deliver a Utilisation Request unless the Facility Agent has received all of the documents and other evidence listed in Part III of Schedule 1 (Conditions precedent to initial Utilisation Request) in form and substance satisfactory to the Facility Agent. The Facility Agent shall notify the Company and the Lenders promptly upon being so satisfied.
Conditions of Utilisation. 29 5. Utilisation .................................................. 30
Conditions of Utilisation. 4.1 Initial conditions precedent The Borrower may not deliver a Utilisation Request unless the Lender has received all of the documents and other evidence listed in Schedule 1 (Conditions Precedent) in form and substance satisfactory to the Lender. The Lender shall notify the Borrower promptly upon being so satisfied.
Conditions of Utilisation. 4.1 Initial conditions precedent
(a) The Borrower may not:
(i) request the Issuing Bank to issue a Bid Certificate pursuant to Clause 5.1 (Delivery of a request for a Bid Certificate), unless the Agent has received all of the Initial Conditions Precedent in form and substance satisfactory to the Agent and the SPA Closing Date has occurred; and
(ii) deliver a Utilisation Request, and the Lenders will not be obliged to comply with Clause 7.4 (Lenders’ participation) in relation to any Loan, unless on or before the Utilisation Date for that utilisation the Agent has received the following conditions precedent in form and substance satisfactory to the Agent:
(A) in relation to the Margin Loan Bridge Facility Loan: the Initial Conditions Precedent and the Refinancing Conditions Precedent;
(B) in relation to a SPA Acquisition Bridge Facility Loan: the Initial Conditions Precedent and the SPA Conditions Precedent;
(C) in relation to a Bid Acquisition Bridge Facility Loan: the Initial Conditions Precedent and the Bid Conditions Precedent; and
(D) in relation to a Reopening Acquisition Bridge Facility Loan: the Reopening Conditions Precedent. The Agent shall notify the Borrower and the Lenders promptly upon being so satisfied.
(b) Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the Agent gives the notification described in paragraph (a) above, the Lenders authorise (but do not require) the Agent to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such notification.
4.2 Further conditions precedent for the Margin Loan Bridge Facility Loan and the SPA Acquisition Bridge Facility Loan
(a) no Default is continuing or would result from the proposed Loan;
(b) no Sanctions Event is continuing or would result from the proposed Loan; and
(c) the Repeating Representations to be made by the Borrower are true in all material respects.
Conditions of Utilisation. 3.1 The Scottish Ministers will only be obliged to comply with their obligations under this Clause 3 in relation to any Utilisation if on or before the Utilisation Date for that Utilisation, the Scottish Ministers have received all of the documents and other evidence listed in (i) Part A of Part 1 of the Schedule in respect of the first Utilisation and, (ii) Part B of Part 1 of the Schedule in respect of each subsequent Utilisation. The Scottish Ministers shall notify the Borrower promptly upon being so satisfied.
3.2 If the conditions set out in this Agreement have been met, and subject to there being no Potential Event of Default or Event of Default having occurred which is continuing unwaived and to the Utilisation Request being made for a date within the Availability Period, the Scottish Ministers shall advance the Loan on the Utilisation Date specified in a Utilisation Request.
3.3 The Borrower may drawdown the Facility in such number of tranches as it may determine not exceeding in aggregate the Available Facility provided that:
3.3.1 no drawing of the Facilities shall be for an amount less than £100,000;
3.3.2 no more than one Utilisation Request may be made at any one time with no more than two utilisations in any month;
3.3.3 each Utilisation Request may only be made in accordance with details contained in the Utilisation Request; and
3.3.4 the first Utilisation Request shall be for the amount of, or less than, £6,000,000
Conditions of Utilisation. Conditions precedent
(a) no Default is continuing or would result from the proposed Loan; and
(b) the Representations to be made by the Borrower are true in all material respects.
Conditions of Utilisation. 29 5. UTILISATION ........................................................................................................................................................... 30 6. REPAYMENT ........................................................................................................................................................... 31 7.
Conditions of Utilisation. 4.1 Initial conditions precedent
(a) The Borrowers may not deliver a Utilisation Request relating to a Loan under the Facility unless the Agent has received all of the documents and other evidence listed in Schedule 2 (Conditions precedent), except those documents which specifically will only be available on the Utilisation Date or within another specified date as previously notified and agreed to by the Majority Lenders. The Agent shall notify the Borrowers and the Lenders promptly upon being so satisfied.
(b) Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the Agent gives the notification described in paragraph (a) above, the Lenders authorise (but do not require) the Agent to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such notification.
