Common use of Conditions of Utilization Clause in Contracts

Conditions of Utilization. 3.1 The Borrower may not utilize the Facility unless the following conditions precedent have been fulfilled: (i) This Agreement has been duly executed and come into full force and effect; and (ii) the guarantee agreement referred to in clause 11.1(i) (the “Guarantee Agreement”) has been duly signed and come into full force and effect; and (iii) the rights and interest of the Lender under the Guarantee Agreement (together with this Agreement the “Finance Documents”) have been created in a valid, binding and enforceable manner; and (iv) the representations and warranties set forth in clause 9.1 are true and correct; and (v) no event or circumstance as specified in clause 12.1 (a “Default”), which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an event of default as defined in clause 12.1 (an “Event of Default”), has occurred or threatens to occur; and (vi) the Lender has received the documents and other evidence listed in schedule 1, and it has found such documents in form and substance acceptable and satisfactory to it.

Conditions of Utilization. 3.1 The Borrower may not utilize the Facility unless the following conditions precedent have been fulfilled: (i) This Agreement has been duly executed and come into full force and effect; and (ii) the guarantee agreement referred to in clause 11.1(i11.1 (i) (the “Guarantee Agreement”) has been duly signed and come into full force and effect; and (iii) the rights and interest interests of the Lender under the Guarantee Agreement (together with this Agreement the “"Finance Documents”") have been created in a valid, binding and enforceable manner; and (iv) the representations and warranties set forth in clause 9.1 are true and correct; and (v) no event or circumstance as specified in clause 12.1 (a “Default”), which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an event of default as defined in clause 12.1 (an “Event of Default”), has occurred or threatens to occur; and. (vi) the Lender has received the documents and other evidence listed in schedule Schedule 1, and it has found such documents in form and substance acceptable and satisfactory to it.

Conditions of Utilization. 3.1 The Borrower may not utilize the Facility unless the following conditions precedent have been fulfilled: (i) This Agreement has been duly executed and come into full force and effect; and (ii) the guarantee agreement referred to in clause 11.1(i) (the “Guarantee Agreement”) has been duly signed and come into full force and effect; and (iii) the rights and interest of the Lender under the Guarantee Agreement (together with this Agreement the “Finance Documents”) have been created in a valid, binding and enforceable manner; andand Loan Offer page 2 (iv) the representations and warranties set forth in clause 9.1 are true and correct; and (v) no event or circumstance as specified in clause 12.1 (a “Default”), which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an event of default as defined in clause 12.1 (an “Event of Default”), has occurred or threatens to occur; and (vi) the Lender has received the documents and other evidence listed in schedule 1, and it has found such documents in form and substance acceptable and satisfactory to it.