Conditions Precedent to ARSC Subordinated Loans. ARSC shall not request any ARSC Subordinated Loan under the ARSC Subordinated Note unless the following conditions precedent have been satisfied on the date of such ARSC Subordinated Loan: (a) the ARSC Subordinated Note shall have been duly executed and delivered by ARSC and shall be in full force and effect; (b) no Event of Bankruptcy shall have occurred and be continuing with respect to ARSC; and (c) after giving effect to such ARSC Subordinated Loan, the aggregate outstanding principal amount of the ARSC Subordinated Note shall not exceed the ARSC Subordinated Note Cap.
Appears in 5 contracts
Samples: Omnibus Amendment (Domus Holdings Corp), Receivables Purchase Agreement (Cendant Corp), Omnibus Amendment (Realogy Corp)
