Conditions Precedent to Advances. Notwithstanding any other provision of this Agreement or the Other Agreements and without affecting in any manner the rights of Lender under this Agreement, it is understood and agreed that Lender shall have no obligation to make any advance under this Agreement unless and until the following conditions have been, and continue to be, satisfied, all in form and substance reasonably satisfactory to Lender and its counsel:
(a) Lender shall have received, on or prior to the Closing Date unless otherwise indicated, the following documents:
(i) the Notes, duly executed and delivered;
(ii) evidence of the qualification and good standing of Borrower in each state in which it is required to be qualified to do business except where its failure to qualify or its lack of good standing would not have a material. adverse affect on Borrower or its ability to conduct its business as currently conducted;
(iii) certified copies of the resolutions of the Board of Directors of Borrower (a) authorizing the Loans and the Hedge Agreement, and (b) authorizing execution and delivery of this Agreement and the Other Agreements by officers of the Borrower;
(iv) certificates of the secretary of the Borrower certifying to the Lender the names of its officers, the offices that each holds, the authenticity of their signatures, and the completeness and accuracy of its articles of incorporation and bylaws;
(v) an opinion of Borrower’s counsel, duly executed and delivered; and
(vi) the Other Agreements, duly executed and delivered;
(b) Borrower shall have executed and delivered such additional documents and instruments as have been requested by Lender;
(c) the representations and warranties contained herein shall be true on and as of the Closing Date, and there shall exist on the Closing Date no Default or Event of Default;
(d) the advances on the terms and conditions herein provided (including the use by Borrower of the proceeds of the advances) shall not violate any applicable law or governmental regulation (including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System) and shall not subject Lender to tax (other than income and franchise taxes) and Lender shall have received such certificates or other evidence as Lender may reasonably request to establish compliance with this condition; and
(e) all corporate and other proceedings taken or to be taken in connection with the transactions contemplated hereby and all documents incident theret...
Conditions Precedent to Advances. Notwithstanding any other provision of this Agreement, no Loan proceeds, Revolving Credit Loans, advances or other extensions of credit under the Loan shall be disbursed under this Agreement unless the following conditions have been satisfied or waived immediately before such disbursement:
(a) The representations and warranties on the part of Borrower contained in Article IV of this Agreement shall be true and correct in all respects at and as of the date of disbursement or advance, as though made on and as of such date (except to the extent that such representations and warranties expressly relate solely to an earlier date and except that the references in Section 4.7 to financial statements shall be deemed to be a reference to the then most recent annual and interim financial statements of Borrower furnished to Lender pursuant to Section 6.1).
(b) No Event of Default or event which, with the giving of notice of the lapse of time, or both, could become an Event of Default shall have occurred and be continuing or would result from the making of the disbursement or advance.
(c) No adverse change in the condition (financial or otherwise), properties, business, or operations of Borrower shall have occurred and be continuing with respect to Borrower since the date of this Agreement.
Conditions Precedent to Advances. (a) The Initial Purchasers shall not be obligated to make an Advance on any Advance Date unless the following conditions have been satisfied or waived by the Initial Purchasers:
(i) The representations and warranties of the Issuer in Section 3.25 of the Indenture and of the Servicer and the Originator, as applicable, set forth in Sections 3.01, 3.02, 3.04 and 3.06 of the Sale and Servicing Agreement are true and correct on and as of such Advance Date, before and after giving effect to such Advance;
(ii) The Investment Period Termination Date shall not have occurred and as of the date of the Advance Request, (A) the aggregate Outstanding Loan Balance of Loans that became Defaulted Loans since the Amendment Date is less than $25,000,000 and (B) no Rapid Amortization Event has occurred since the Amendment Date;
(iii) No Event of Default, Rapid Amortization Event or Servicer Default has occurred since the Amendment Date or will occur, after giving effect to such Advance;
(iv) After giving effect to such Advance and to the application of proceeds therefrom, the Aggregate Outstanding Note Balance will not exceed the Borrowing Base;
(v) After giving effect to such Advance and to the application of proceeds therefrom, the Aggregate Outstanding Note Balance shall not exceed the Commitment Amount;
(vi) The Issuer shall have caused the Required Loan Documents for any Loans being acquired on such Advance Date to be delivered to the Custodian in accordance with the Sale and Servicing Agreement;
(vii) To the extent the Issuer is directing that Principal Proceeds be withdrawn from the Collection Account and deposited to the Principal Reinvestment Account on such Advance Date, the Issuer reasonably believes that funds on deposit in the Collection Account will be sufficient to pay Required Payments on the next Payment Date; and
(viii) At the time of any Advance, the Notes have a rating of no lower than “A (low) (sf)” from the Rating Agency.
(b) To the extent the Initial Purchasers shall fund an Advance on an Advance Date, it shall be deemed to have agreed that each of the foregoing conditions have been satisfied or waived as to such Advance and Advance Date.
Conditions Precedent to Advances. Lender’s obligation to make any advance under this Loan Agreement and the other Loan Documents shall be subject to the conditions precedent that, as of the date of such advance and after giving effect thereto (i) all representations and warranties made to Lender in this Loan Agreement and the other Loan Documents shall be true and correct, as of and as if made on such date, (ii) no material adverse change in the financial condition of Borrower since the effective date of the most recent financial statements furnished to Lender by Borrower shall have occurred and be continuing, (iii) no event has occurred and is continuing, or would result from the requested advance, which with notice or lapse of time, or both, would constitute an Event of Default (as hereinafter defined), and (iv) Lender’s receipt of all Loan Documents appropriately executed by Borrower and all other proper parties.
Conditions Precedent to Advances. The obligation of each Lender to make Advances hereunder is subject to satisfaction of the following conditions precedent:
Conditions Precedent to Advances. Lender's obligation to make any Advances or to provide any other financial accommodations to or for the benefit of Borrower hereunder shall be subject to the conditions precedent that as of the date of such advance or disbursement and after giving effect thereto (a) all representations and warranties made to Lender in this Agreement and the Related Documents shall be true and correct as of and as if made on such date, (b) no material adverse change in the financial condition of Borrower or any Guarantor since the effective date of the most recent financial statements furnished to Lender, or in the value of any Collateral, shall have occurred and be continuing, (c) no event has occurred and is continuing, or would result from the requested advance or disbursement, which with notice or lapse of time, or both, would constitute an Event of Default, (d) no Guarantor has sought, claimed or otherwise attempted to limit, modify or revoke such Guarantor's guaranty of any Loan, and (e) Lender has received all Related Documents appropriately executed by Borrower and all other proper parties.
Conditions Precedent to Advances. The obligations of the Lender under this Agreement to make Advances are subject to the following conditions precedent, all of which must be fulfilled prior to or concurrently with an Advance under this Agreement:
(a) The Borrower shall have executed and delivered the Note and the Mortgages, satisfying the Loan-to-Value Ratio, to the Lender.
(b) The Lender has received all documents required by this Agreement to be delivered to the Lender and such documents shall be in full force and effect.
(c) All representations or warranties contained in this Agreement are true and correct.
(d) There is no Event of Default and no condition, event or act, which with notice or lapse of time, or both, would constitute an event of default.
(e) All legal proceedings and documents in connection with the borrowing under this Agreement are satisfactory in form and substance to the Lender and its counsel.
(f) The Lender shall have received all fees, costs and expenses required to be paid by the Borrower under the terms of this Agreement.
Conditions Precedent to Advances. The obligation of the Bank to honor any Request for Advance is subject to the following conditions precedent:
(a) The representations and warranties of the District contained in Article VI hereof shall be true and correct on and as of the date of such Advance, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 7.02, the representations and warranties contained in Section 6.07 hereof shall be deemed to refer to the most recent statements furnished pursuant to Section 5.05(a) hereof.
(b) No Default or Event of Default shall exist, or would result from such proposed Advance or from the application of the proceeds thereof.
(c) The Bank shall have received a Request for Advance in accordance with the requirements hereof.
(d) After giving effect to any Advance, the aggregate principal amount of all Advances outstanding hereunder shall not exceed the Available Commitment.
(e) Such Advance shall not violate any order, judgment or decree of any court or authority of competent jurisdiction or any provision of law as then in effect.
(f) The Bank shall not have received notice (either verbal or written) from the District, or Bond Counsel that any opinion delivered pursuant to Section 7.01(c)[(ii)] hereof may no longer be relied upon.
(g) The Bank shall have received, in form and substance satisfactory to it, such other assurances, certificates, documents or consents related to the foregoing as the Bank reasonably may require. Each Request for Advance submitted by the District shall be deemed to be a representation and warranty that the conditions specified in Sections 7.02(a) and (b) have been satisfied on and as of the date of the applicable Advance.
Conditions Precedent to Advances. Lender's obligation to make the -------------------------------- first advance hereunder shall be subject to, in addition to the conditions specified below, delivery to Lender of the following, in form and substance satisfactory to Lender:
(a) a counterpart of this Agreement;
(b) the Note;
(c) the Security Agreement of even date herewith between Borrower and Lender (the "Security Agreement"); ------------------
(d) the Guaranty;
(e) an opinion of counsel for Borrower and Guarantor;
(f) a Borrowing Base Certificate, certified by the president of Borrower;
(g) termination of any commitment of First Savings Bank to advance funds to Borrower;
(h) true and correct copies of the purchase agreement pursuant to which Guarantor is purchasing First Consumer Credit LLC;
(i) true and correct copies of the assignment documents executed by Guarantor in favor of Borrower, pursuant to which Guarantor assigned to Borrower all Installment Contracts acquired from First Consumer Credit LLC;
(j) true and correct copies of the merger documents pursuant to which First Consumer Credit LLC is merged into Borrower with Borrower being the surviving entity; and
(k) such other documents as Lender may reasonably request.
(i) a listing of all Installment Contracts purchased by Borrower since the date of the last report delivered to Lender pursuant to Section 10(e); (ii) a listing of all Installment Contracts sold by Borrower since the date of the last report delivered to Lender pursuant to Section 10(e); and (iii) an Installment Contract aging report dated as of the date of Borrower's request for such advance.
Conditions Precedent to Advances. In addition to the other Conditions Precedent set forth in this Agreement, the Postpetition Lender’s obligation to make each Advance shall be subject to the following further conditions precedent:
