Common use of Conditions Precedent to all Term Loans Clause in Contracts

Conditions Precedent to all Term Loans. No Lender shall be obligated to make any Term Loan, including the Initial Term Loan, unless the following additional conditions have been satisfied: (a) (i) all representations and warranties in Section 5 below shall be true as of the date of such Term Loan; (ii) no Event of Default or any other event, which with the giving of notice or the passage of time, or both, would constitute an Event of Default (such event, a “Default”), has occurred or begun, irrespective of any cure periods therefor, or will result from the making of any Term Loan, without the waiver of Lenders at their sole discretion, and (iii) Agent shall have received a certificate from a Proper Officer of Borrower confirming each of the foregoing; (b) Agent shall have received the redelivery or supplemental delivery of the items set forth in the following sections to the extent circumstances have changed since the Initial Term Loan: Sections 4.1(b), (e), (f), (g), (h), (i), (j), (l) and (o); (c) with respect to each Term Loan other than the Initial Term Loan, Agent shall have received evidence satisfactory to Agent that Borrower has, at the time of and after giving effect to such Term Loan, either (a) a Cash Burn Amount (defined below) that is greater than zero, or (b) unrestricted cash and Cash Equivalents (as defined below) as shown on the consolidated balance sheet of Borrower and its consolidated Subsidiaries (collectively, “Balance Sheet Cash”) in an amount equal to or greater than the product of (A) negative twelve (-12) times (B) the Cash Burn Amount (as defined below); and (d) Agent shall have received such other documents, agreements, instruments or information as Agent shall reasonably request.