Common use of Conditions Precedent - First Drawing Before Clause in Contracts

Conditions Precedent - First Drawing Before. any Bank shall have any obligation to advance the first Drawing under the Facility, the Borrowers shall pay to the Agent the relevant fees referred to in Clause 7 and deliver or cause to be delivered to or to the order of the Agent the following documents and evidence:- 3.1.1 Evidence of incorporation Such evidence as the Agent may reasonably require that each Security Party was duly incorporated in its country of incorporation and remains in existence and, where appropriate, in good standing, with power to enter into, and perform its obligations under, those of the Security Documents to which it is, or is intended to be, a party, including (without limitation) a copy, certified by a director or an officer of the Security Party or its sole member in question as true, complete, accurate and unamended, of all documents establishing or limiting the constitution of each Security Party. 3.1.2 Corporate authorities A copy, certified by a director or any duly authorised officer of the Security Party (or its sole member) in question as true, complete, accurate and neither amended nor revoked, of a resolution of the directors, in the case of the Guarantor, and a resolution of the sole member in the case of each other Security Party (together, where appropriate, with signed waivers of notice of any directors’ meetings) approving, and authorising or ratifying the execution of, those of the Security Documents and each Drawdown Notice to which that Security Party is or is intended to be a party and all matters incidental thereto.

Appears in 1 contract

Samples: Secured Reducing Revolving Loan Facility Agreement (Teekay Shipping Corp)

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Conditions Precedent - First Drawing Before. any Bank shall have any obligation to advance the first Drawing under the Facility, the Borrowers Borrower shall pay to the Agent the relevant fees referred to in Clause 7 and deliver or cause to be delivered to or to the order of the Agent the following documents and evidence:-evidence:¬ 3.1.1 Evidence of incorporation Such evidence as the Agent may reasonably require that each Security Party was duly incorporated in its country of incorporation and remains in existence and, where appropriate, in good standing, with power to enter into, and perform its obligations under, those of the Security Documents to which it is, or is intended to be, a party, including (without limitation) a copy, certified by a director or an officer of the Security Party or its sole member in question as true, complete, accurate and unamended, of all documents establishing or limiting the constitution of each Security Party. 3.1.2 Corporate authorities A copy, certified by a director or any duly authorised officer of the Security Party (or its sole member) in question as true, complete, accurate and neither amended nor revoked, of a resolution of the directors, in the case of the Guarantor, and a resolution of the sole member in the case directors of each other Security Party (together, where appropriate, with signed waivers of notice of any directors’ meetings) approving, and authorising or ratifying the execution of, those of the Security Documents and each Drawdown Notice to which that Security Party is or is intended to be a party and all matters incidental thereto.

Appears in 1 contract

Samples: Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc)

Conditions Precedent - First Drawing Before. any Bank shall have any obligation to advance the first Drawing under the Facility, the Borrowers Borrower shall pay to the Agent the relevant fees referred to in Clause 7 9 and the Fee Letter and deliver or cause to be delivered to or to the order of the Agent the following documents and evidence:- 3.1.1 Evidence of incorporation Such evidence as the Agent may reasonably require that each Security Party was duly incorporated in its country of incorporation and remains in existence and, where appropriate, in good standing, with power to enter into, and perform its obligations under, those of the Security Documents to which it is, or is intended to be, a party, including (without limitation) a copy, certified by a director or an officer of the Security Party or its sole member in question as true, complete, accurate and unamended, of all documents establishing or limiting the constitution of each Security Party. 3.1.2 Corporate authorities A copy, certified by a director or any duly authorised officer the secretary of the Security Party (or its sole member) in question as true, complete, accurate and neither amended nor revoked, of a resolution of the directors, in the case of directors and (other than the Guarantor, and ) a resolution of the sole member in the case shareholders of each other Security Party (together, where appropriate, with signed waivers of notice of any directors’ or shareholders’ meetings) approving, and authorising or ratifying the execution of, those of the Security Documents and each Drawdown Notice to which that Security Party is or is intended to be a party and all matters incidental thereto.

Appears in 1 contract

Samples: Deed of Amendment and Restatement (Stolt Offshore S A)

Conditions Precedent - First Drawing Before. any Bank shall have any obligation to advance the first Drawing under the Facility, the Borrowers Borrower shall pay to the Agent the relevant fees referred to in Clause 7 and the Fee Letter and deliver or cause to be delivered to or to the order of the Agent the following documents and evidence:- 3.1.1 Evidence of incorporation Such evidence as the Agent may reasonably require that each Security Party was duly incorporated in its country of incorporation and remains in existence and, where appropriate, in good standing, with power to enter into, and perform its obligations under, those of the Security Documents to which it is, or is intended to be, a party, including (without limitation) a copy, certified by a director or an officer of the Security Party or its sole member in question as true, complete, accurate and unamended, of all documents establishing or limiting the constitution of each Security Party. 3.1.2 Corporate authorities A copy, certified by a director or any duly authorised officer the secretary of the Security Party (or its sole member) in question as true, complete, accurate and neither amended nor revoked, of a resolution of the directors, in the case of the Guarantor, directors and a resolution of the sole member in the case shareholders of each other Security Party (together, where appropriate, with signed waivers of notice of any directors’ or shareholders’ meetings) approving, and authorising or ratifying the execution of, those of the Security Documents and each Drawdown Notice to which that Security Party is or is intended to be a party and all matters incidental thereto.

Appears in 1 contract

Samples: Loan Facility Agreement (Teekay Shipping Corp)

Conditions Precedent - First Drawing Before. any Bank shall have any obligation to advance the first Drawing under the Facility, the Borrowers Borrower shall pay to the Agent the relevant fees referred to in Clause 7 and deliver or cause to be delivered to or to the order of the Agent the following documents and evidence:- 3.1.1 Evidence of incorporation Such evidence as the Agent may reasonably require that each Security Party was duly incorporated in its country of incorporation and remains in existence and, where appropriate, in good standing, with power to enter into, and perform its obligations under, those of the Security Documents to which it is, or is intended to be, a party, including (without limitation) a copy, certified by a director or an officer of the Security Party or its sole member in question as true, complete, accurate and unamended, of all documents establishing or limiting the constitution of each Security Party. 3.1.2 Corporate authorities A copy, certified by a director or any duly authorised officer of the Security Party (or its sole member) in question as true, complete, accurate and neither amended nor revoked, of a resolution of the directors, in the case of the Guarantor, and a resolution of the sole member in the case directors of each other Security Party (together, where appropriate, with signed waivers of notice of any directors’ meetings) approving, and authorising or ratifying the execution of, those of the Security Documents and each Drawdown Notice to which that Security Party is or is intended to be a party and all matters incidental thereto.

Appears in 1 contract

Samples: Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc)

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Conditions Precedent - First Drawing Before. any Bank shall have any obligation to advance the first Drawing under the Facility, Facility the Borrowers Borrower shall pay to the Agent the relevant fees referred to in Clause 7 and deliver or cause to be delivered to or to the order of the Agent the following documents and evidence:- 3.1.1 Evidence of incorporation Such evidence as the Agent may reasonably require that each Security Party was duly incorporated in its country of incorporation and remains in existence and, where appropriate, in good standing, with power to enter into, and perform its obligations under, those of the Security Documents to which it is, or is intended to be, a party, including (without limitation) a copy, certified by a director or an officer of the Security Party or its sole member in question as true, complete, accurate and unamended, of all documents establishing or limiting the constitution of each Security Party. 3.1.2 Corporate authorities A copy, certified by a director or any duly authorised officer of the Security Party (or its sole member) in question as true, complete, accurate and neither amended nor revoked, of a resolution of the directors, in the case of the Guarantor, and a resolution of the sole member in the case directors of each other Security Party (together, where appropriate, with signed waivers of notice of any directors’ meetings) approving, and authorising or ratifying the execution of, those of the Security Documents and each Drawdown Notice to which that Security Party is or is intended to be a party and all matters incidental thereto.

Appears in 1 contract

Samples: Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc)

Conditions Precedent - First Drawing Before. any Bank shall have any obligation to advance the first Drawing under the Facility, the Borrowers Borrower shall pay to the Agent the relevant fees referred to in Clause 7 9 and the Fee Letters and deliver or cause to be delivered to or to the order of the Agent the following documents and evidence:- 3.1.1 Evidence of incorporation Such evidence as the Agent may reasonably require that each Security Party was duly incorporated in its country of incorporation and remains in existence and, where appropriate, in good standing, with power to enter into, and perform its obligations under, those of the Security Documents to which it is, or is intended to be, a party, including (without limitation) a copy, certified by a director or an officer of the Security Party or its sole member in question as true, complete, accurate and unamended, of all documents establishing or limiting the constitution of each Security Party. 3.1.2 Corporate authorities A copy, certified by a director or any duly authorised officer the secretary of the Security Party (or its sole member) in question as true, complete, accurate and neither amended nor revoked, of a resolution of the directors, in the case of directors and (other than the Guarantor, and ) a resolution of the sole member in the case shareholders of each other Security Party (together, where appropriate, with signed waivers of notice of any directors' or shareholders' meetings) approving, and authorising or ratifying the execution of, those of the Security Documents and each Drawdown Notice to which that Security Party is or is intended to be a party and all matters incidental thereto.

Appears in 1 contract

Samples: Loan Agreement (Stolt Offshore S A)

Conditions Precedent - First Drawing Before. any Bank shall have any obligation to advance the first Drawing under the Facility, the Borrowers Borrower shall pay to the Agent the relevant fees referred to in Clause 7 9 and the Fee Letter and deliver or cause to be delivered to or to the order of the Agent the following documents and evidence:- 3.1.1 Evidence of incorporation Such evidence as the Agent may reasonably require that each Security Party was duly incorporated in its country of incorporation and remains in existence and, where appropriate, in good standing, with power to enter into, and perform its obligations under, those of the Security Documents to which it is, or is intended to be, a party, including (without limitation) a copy, certified by a director or an officer of the Security Party or its sole member in question as true, complete, accurate and unamended, of all documents establishing or limiting the constitution of each Security Party. 3.1.2 Corporate authorities A copy, certified by a director or any duly authorised officer the secretary of the Security Party (or its sole member) in question as true, complete, accurate and neither amended nor revoked, of a resolution of the directors, in the case of directors and (other than the Guarantor, and ) a resolution of the sole member in the case shareholders of each other Security Party (together, where appropriate, with signed waivers of notice of any directors' or shareholders' meetings) approving, and authorising or ratifying the execution of, those of the Security Documents and each Drawdown Notice to which that Security Party is or is intended to be a party and all matters incidental thereto.

Appears in 1 contract

Samples: Secured Multi Currency Revolving Loan Facility Agreement (Stolt Offshore S A)

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