Common use of Conditions Precedent/Effectiveness Conditions Clause in Contracts

Conditions Precedent/Effectiveness Conditions. This Amendment shall be effective upon the date of satisfaction of all of the following conditions precedent (the “Effective Date”): (a) Agent shall have received this Amendment fully executed by the Borrowers; (b) Agent shall have received an equipment loan note in the amount of $10,000,000 executed by Borrowers in favor of PNC (the “Equipment Note”); (c) Agent shall have received an amended and restated revolving credit note in the amount of $40,000,000 executed by Borrowers in favor of PNC (the “A&R Note” and together with the Equipment Note, the “Notes”); (d) Agent shall have received a copy of the resolutions in form and substance reasonably satisfactory to Agent, of the Board of Directors of each Borrower authorizing the execution, delivery and performance of this Amendment and the Notes, certified by the Secretary of such Borrower, together with a certification as to the incumbency signatures of each person signing such documents on behalf of Borrowers; (e) Agent shall have received the results of updated UCC, tax lien, and judgment searches against each of the Borrowers; (f) Agent shall have received a non-refundable amendment fee in the amount of $50,000 which shall be fully earned as of the date of this Amendment; and (g) No Default or Event of Default shall have occurred and be continuing under the Loan Agreement.

Conditions Precedent/Effectiveness Conditions. This Amendment shall be effective upon the date of satisfaction of all of the following conditions precedent (the “Effective Date”) the satisfaction of each of the following conditions (all documents to be in form and substance reasonably satisfactory to Administrative Agent and Administrative Agent’s counsel): (a) Administrative Agent shall have received this Amendment fully duly executed by the BorrowersRequired Lenders and all Loan Parties; (b) Administrative Agent shall have received an equipment loan note in the amount of $10,000,000 amended and restated revolving credit notes duly executed by Borrowers in favor of PNC the Borrower reflecting each Lender’s Revolving Credit Commitment (collectively, the “Equipment NoteA&R Revolving Credit Notes”); (c) Administrative Agent shall have received an amended each of the agreements, instruments, certificates and restated revolving credit note in the amount of $40,000,000 executed by Borrowers in favor of PNC (the “A&R Note” and together with the Equipment Note, the “Notes”)documents listed on Exhibit A attached hereto; (d) Administrative Agent shall have received a copy of the resolutions in form and substance reasonably satisfactory to Agentreceived, of the Board of Directors of each Borrower authorizing the execution, delivery and performance of this Amendment and the Notes, certified by the Secretary of such Borrower, together with a certification as to the incumbency signatures of each person signing such documents on behalf of Borrowers; (e) Agent shall have received the results of updated UCCLenders, tax lien, and judgment searches against each of the Borrowers; (f) Agent shall have received a non-refundable an upfront/amendment fee in the amount of $50,000 52,500 in immediately available funds, which fee shall be fully earned as of upon the date of this Amendment; and; (ge) No After giving effect to this Amendment, no Potential Default or Event of Default shall have occurred and be continuing under continuing; and (f) Execution and/or delivery of all other agreements, instruments and documents requested by Agent to effectuate and implement the Loan Agreementterms hereof.

Conditions Precedent/Effectiveness Conditions. This Amendment shall be effective upon the date of satisfaction of all of the following conditions precedent (the “Effective Date”) the satisfaction of each of the following conditions (all documents to be in form and substance reasonably satisfactory to Administrative Agent and Administrative Agent’s counsel): (a) Administrative Agent shall have received this Amendment fully duly executed by the BorrowersLenders and all Loan Parties; (b) Administrative Agent shall have received an equipment loan note in the amount of $10,000,000 amended and restated revolving credit notes duly executed by Borrowers in favor of PNC the Borrower reflecting each Lender’s Revolving Credit Commitment (collectively, the “Equipment NoteA&R Revolving Credit Notes”); (c) Administrative Agent shall have received an amended and restated revolving credit note in the amount of $40,000,000 term notes duly executed by Borrowers in favor of PNC the Borrower reflecting each Lender’s Term Loan Commitment (collectively, the “A&R NoteTerm Notes” and together with the Equipment NoteA&R Revolving Credit Notes, the “A&R Notes”); (d) Administrative Agent shall have received a copy of the resolutions in form and substance reasonably satisfactory to Agentreceived, of the Board of Directors of each Borrower authorizing the execution, delivery and performance of this Amendment and the Notes, certified by the Secretary of such Borrower, together with a certification as to the incumbency signatures of each person signing such documents on behalf of Borrowers; (e) Agent shall have received the results of updated UCCLenders, tax lien, and judgment searches against each of the Borrowers; (f) Agent shall have received a non-refundable an upfront/amendment fee in the amount of $50,000 150,000, in immediately available funds, which fee shall be fully earned as of upon the date of this Amendment; (e) Administrative Agent shall have received each of the agreements, instruments, certificates and documents listed on Exhibit E attached hereto; and (gf) No Default or Event Execution and/or delivery of Default shall have occurred all other agreements, instruments and be continuing under documents requested by Agent to effectuate and implement the Loan Agreementterms hereof.