Common use of Conditions Precedent to All Advances and Reinvestments Clause in Contracts

Conditions Precedent to All Advances and Reinvestments. Each Advance, each Reinvestment and each rollover or continuation of any Advance shall be subject to the further conditions precedent that (a) the Servicer shall have delivered to the Agent and each Lender Group Agent on or prior to the date thereof, in form and substance satisfactory to the Agent, all Monthly Reports as and when due under Section 8.5; (b) the Facility Termination Date shall not have occurred; (c) the Agent and each Lender Group Agent shall have received such other approvals, opinions or documents as it may reasonably request, provided, however, no Advance, Reinvestment, or rollover or continuation of any Advance shall be subject to receipt by the Agent or any Lender Group Agent of any approval, opinion or document requested pursuant to this clause (c) unless reasonable prior notice has been given by the Agent or such Lender Group Agent requesting such approval, opinion or document and such approval, opinion or document has not been received on or before the second Settlement Date occurring after the date of such request; (d) on the date thereof, the following statements shall be true (and acceptance of the proceeds of such Advance or Reinvestment shall be deemed a representation and warranty by Borrower that such statements are then true): (i) the representations and warranties set forth in Section 5.1 are true and correct on and as of the date of such Advance (or such Settlement Date, as the case may be) such Reinvestment or rollover or continuation of any Advance as though made on and as of such date; (ii) no event has occurred and is continuing, or would result from such Advance (or the continuation thereof), that will constitute an Amortization Event, and no event has occurred and is continuing, or would result from such Advance (or the continuation thereof) such Reinvestment or rollover or continuation of any Advance, that would constitute an Unmatured Amortization Event; and (iii) after giving effect to such Advance such Reinvestment or rollover or continuation of any Advance, the Aggregate Principal will not exceed the Borrowing Limit; and

Conditions Precedent to All Advances and Reinvestments. Each Advance, each Reinvestment and each rollover or continuation of any Advance shall be subject to the further conditions precedent that (a) the Servicer shall have delivered to the Agent and each Lender Group Agent on or prior to the date thereof, in form and substance satisfactory to the Agent, all Monthly Reports as and when due under Section 8.5; (b) the Facility Termination Date shall not have occurred; (c) the Agent and each Lender Group Agent shall have received such other approvals, opinions or documents as it may reasonably request, provided, however, no Advance, Reinvestment, or rollover or continuation of any Advance shall be subject to receipt by the Agent or any Lender Group Agent of any approval, opinion or document requested pursuant to this clause (c) unless reasonable prior notice has been given by the Agent or such Lender Group Agent requesting such approval, opinion or document ; and such approval, opinion or document has not been received on or before the second Settlement Date occurring after the date of such request; (d) on the date thereof, the following statements shall be true (and acceptance of the proceeds of such Advance or Reinvestment shall be deemed a representation and warranty by Borrower that such statements are then true): (i) the representations and warranties set forth in Section 5.1 are true and correct on and as of the date of such Advance (or such Settlement Date, as the case may be) such Reinvestment or rollover or continuation of any Advance as though made on and as of such date; (ii) no event has occurred and is continuing, or would result from such Advance (or the continuation thereof), that will constitute an Amortization Event, and no event has occurred and is continuing, or would result from such Advance (or the continuation thereof) such Reinvestment or rollover or continuation of any Advance, that would constitute an Unmatured Amortization Event; and (iii) after giving effect to such Advance such Reinvestment or rollover or continuation of any Advance, the Aggregate Principal will not exceed the Borrowing Limit; and.

Conditions Precedent to All Advances and Reinvestments. Each Advance (including the Initial Advance, each Reinvestment ) and each rollover or continuation reinvestment of any Advance Principal Collections made pursuant to Section 2.7(b) shall be subject to the further conditions precedent that that: (a) On the related Funding Date or date of reinvestment, the Borrower or the Servicer (if the Originator or an Affiliate of the Originator) as the case may be, shall have delivered to certified in the Agent and each Lender Group Agent on or prior to the date thereof, in form and substance satisfactory to the Agent, all Monthly Reports as and when due under Section 8.5; (b) the Facility Termination Date shall not have occurred; (c) the Agent and each Lender Group Agent shall have received such other approvals, opinions or documents as it may reasonably request, provided, however, no Advance, Reinvestment, or rollover or continuation of any Advance shall be subject to receipt by the Agent or any Lender Group Agent of any approval, opinion or document requested pursuant to this clause (c) unless reasonable prior notice has been given by the Agent or such Lender Group Agent requesting such approval, opinion or document and such approval, opinion or document has not been received on or before the second Settlement Date occurring after the date of such request; (d) on the date thereof, the following statements shall be true (and acceptance of the proceeds of such Advance or Reinvestment shall be deemed a representation and warranty by related Borrower that such statements are then true):Notice that: (i) the The representations and warranties of such Person set forth in Section 5.1 Sections 4.1, 4.2 and 6.8, as the case may be, are true and correct on and as of such date, before and after giving effect to such borrowing or reinvestment and to the date application of such Advance (or such Settlement Datethe proceeds therefrom, as the case may be) such Reinvestment or rollover or continuation of any Advance as though made on and as of such date; (ii) no No event has occurred and is continuingoccurred, or would result from such Advance (or reinvestment or from the continuation thereof)application of the proceeds therefrom, that will constitute which constitutes an Early Amortization Event, and no event has occurred and ; (iii) Such Person is continuing, or would result from such Advance (or the continuation thereof) such Reinvestment or rollover or continuation in material compliance with each of any Advance, that would constitute an Unmatured Amortization Eventits covenants set forth herein; and (iv) No event has occurred which constitutes a Servicer Termination Event; (i) With respect to the initial Funding Date, the Deal Agent shall have received all Transaction Documents listed on the Schedule of Documents as due on the initial Funding Date, or counterparts thereof, each of which has been duly executed by, and delivered to, the parties hereto and each shall be in form and substance satisfactory to the Deal Agent, (ii) with respect to any Funding Date after the initial Funding Date, the Deal Agent shall have received any supplement or update to the Decrementation Report required to be delivered pursuant to Section 6.31 and (iii) on any date on which Principal Collections are reinvested pursuant to Section 2.7(b), the Deal Agent shall have received a certification in the form of Exhibit N; --------- (c) Neither the Facility Termination Date nor the Commitment Termination Date shall have occurred; (d) Before and after giving effect to such Advance such Reinvestment or rollover or continuation borrowing and to the application of any Advanceproceeds therefrom, the Aggregate Principal will Advances Outstanding do not exceed the Borrowing LimitBase, as calculated on such date; (e) Each Loan submitted on the related Funding Date or date of reinvestment by the Borrower for funding is an Eligible Loan; (f) No claim has been asserted or proceeding commenced challenging enforceability or validity of any of the Loan Documents, excluding any instruments, certificates or other documents relating to Loans that were the subject of prior Advances; (g) There shall have been no material adverse change in the condition (financial or otherwise), business, operations, results of operations, or properties of the Originator or the Borrower since the preceding Advance; and (h) The Originator and Borrower shall have taken such other action, including delivery of approvals, consents, opinions, documents, and instruments to the Lender and the Deal Agent as each may reasonably request.