Common use of Conditions of Utilisation Clause in Contracts

Conditions of Utilisation. 4.1 Initial conditions precedent (a) The Lenders will only be obliged to comply with Clause 5.4 (Lenders' participation) in relation to any Utilisation if, on or before the Utilisation Date for that Utilisation, the Agent has received all of the documents and other evidence listed in Part I and Part II of Schedule 2 (Conditions Precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company 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.

Appears in 1 contract

Samples: Bridge Facility Agreement

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Conditions of Utilisation. 4.1 Initial conditions precedent (a) The Lenders will only be obliged Borrowers may not deliver a Utilisation Request relating to comply with Clause 5.4 (Lenders' participation) in relation to any Utilisation if, on or before a Loan under the Utilisation Date for that Utilisation, Facility unless the Agent has received all of the documents and other evidence listed in Part I and Part II of Schedule 2 (Conditions Precedent) in form precedent), except those documents which specifically will only be available on the Utilisation Date or within another specified date as previously notified and substance satisfactory agreed to by the AgentMajority Lenders. The Agent shall notify the Company 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.

Appears in 1 contract

Samples: Term Loan Facility Agreement (KNOT Offshore Partners LP)

Conditions of Utilisation. 4.1 Initial conditions precedent (a) The Lenders will only be obliged to comply with Clause 5.4 (Lenders' Xxxxxxx’ participation) in relation to any Utilisation if, if on or before the Utilisation Date for that Utilisation, the Agent has received all of the documents and other evidence listed in Part I IA and Part II IB of Schedule 2 (Conditions Precedentprecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Parent 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.

Appears in 1 contract

Samples: Facility Agreement

Conditions of Utilisation. 4.1 Initial conditions precedent (a) The Lenders will only be obliged to comply with Clause 5.4 (Lenders' participation) in relation to any Utilisation if, on or before the Utilisation Date for that Utilisation, the Agent has received all of the documents and other evidence listed in Part I and Part II 1 of Schedule 2 (Conditions Precedent) ), in form and substance satisfactory to the AgentAgent (acting on the instructions of all the Lenders). The Agent shall notify the Company 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 notifications 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.

Appears in 1 contract

Samples: Senior Facilities Agreement

Conditions of Utilisation. 4.1 Initial conditions precedent (a) The Lenders will only be obliged to comply with Clause 5.4 5.3 (LendersXxxxxxx' participation) in relation to any Utilisation if, the advance of a Drawing if on or before the Utilisation Date for that Utilisationrelevant Drawdown Date, the Agent has received all of the documents and other evidence listed in Part I and Part II of Schedule 2 (Conditions Precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company 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) aboveClause 4.1(a), 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.

Appears in 1 contract

Samples: Loan Agreement (Safe Bulkers, Inc.)

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Conditions of Utilisation. 4.1 Initial conditions precedent (a) The Lenders will only be obliged to comply with Clause 5.4 (Lenders' participation) in relation to any Borrower may not deliver a Utilisation if, on or before the Utilisation Date for that Utilisation, Request unless the Agent has received all of the documents and other evidence listed in Part I and Part II of Schedule 2 4 (Conditions PrecedentPrecedent to Initial Utilisation) and copies of any other document, authorisation, opinion or assurance reasonably requested by the Agent in form and substance reasonably satisfactory to the Agent. The Agent shall notify the Company 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.

Appears in 1 contract

Samples: Revolving Facility Agreement (Bunge Global SA)

Conditions of Utilisation. 4.1 Initial conditions precedent (a) The Lenders will only be obliged to comply with Clause 5.4 (Lenders' participation) in relation to any Utilisation if, if on or before the Utilisation Date for that Utilisation, the Agent has received all of the documents and other evidence listed in Part I IA and Part II IB of Schedule 2 (Conditions Precedentprecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Parent 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.

Appears in 1 contract

Samples: Senior Facilities Agreement

Conditions of Utilisation. 4.1 Initial conditions precedent (a) The Lenders will only be obliged to comply with Clause clause 5.4 (Lenders' participation) in relation to any Utilisation if, Loan if on or before the Utilisation Date for that UtilisationLoan, the Agent has received all of the documents and other evidence listed in Part I part 1 and Part II part 2 of Schedule schedule 2 (Conditions Precedentprecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Parent 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) aboveclause 4.1(a), 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.

Appears in 1 contract

Samples: Senior Term and Revolving Facilities Agreement

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