Conditions Precedent to Effectiveness and Loans. The agreement of each Bank to make the extension of credit requested to be made by it is subject to the satisfaction, prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent:
Conditions Precedent to Effectiveness and Loans. In addition to the conditions set forth in Section 6.2, this Agreement shall not become effective and Agent, the Issuing Banks and the Lenders shall not be required to fund any requested Loans, issue any Letter of Credit for the benefit of the Borrowers or otherwise extend credit to the Borrowers hereunder, until the date (“Closing Date”) that each of the following conditions has been satisfied: Notes shall have been executed by each Borrower and delivered to each Applicable Lender that requests issuance of a Note. Each other Loan Document to which any Obligor is a party shall have been duly executed and delivered to Agent by each of the signatories thereto, and each such Obligor shall be in compliance with all terms thereof.
Conditions Precedent to Effectiveness and Loans. SECTION 5.1 Conditions Precedent to Loan Commitments and Effectiveness of this Agreement 53 SECTION 5.1.1 Authority of the Borrower and the Guarantors 53 SECTION 5.1.2 Incumbency of the Borrower and the Guarantors 53 SECTION 5.1.3 Corporate Proceedings 53 SECTION 5.1.4 Financial Information, etc 54 SECTION 5.1.5 Permits 54 SECTION 5.1.6 Insurance 54 SECTION 5.1.7 Capital Improvement Project Budget 54 SECTION 5.1.8 Environmental Reports 55 SECTION 5.1.9 Searches 55 SECTION 5.1.10 Real Estate Appraisal 55 SECTION 5.1.11 Fees 55 SECTION 5.1.12 Opinions of Counsel 56 SECTION 5.1.13 Information pursuant to Anti-Terrorism Laws 56 TABLE OF CONTENTS (continued) Page SECTION 5.1.14 No Material Adverse Effect 56 SECTION 5.1.15 No Defaults 56 SECTION 5.1.16 No Restrictions 56 SECTION 5.1.17 No Violation of Certain Regulations 56 SECTION 5.1.18 Service of Process 57 SECTION 5.1.19 Representations and Warranties 57 SECTION 5.1.20 Other Documents 57 SECTION 5.1.21 Satisfactory Form and Substance 57 SECTION 5.2 Conditions Precedent to the Initial Borrowing of the Revolving Loans and the Issuance of Letters of Credit 57 SECTION 5.2.1 Commitment Conditions 57 SECTION 5.2.2 Loan Documents 57 SECTION 5.2.3 Required Preferred Rights Offering 57 SECTION 5.2.4 Interest Reserve 57 SECTION 5.2.5 Side Letter 58 SECTION 5.2.6 Key Person Management Agreement 58 SECTION 5.2.7 Gaming Lease 58 SECTION 5.2.8 Title Policy; Title Documents 58 SECTION 5.2.9 A.L.T.A. Survey 59 SECTION 5.2.10 Zoning Information 59 SECTION 5.2.11 Payment of Outstanding Indebtedness, etc 59 SECTION 5.2.12 Fees 59 SECTION 5.2.13 Loan Documents 60 SECTION 5.2.14 Opinions of Counsel 61 SECTION 5.2.15 Other Documents 62 SECTION 5.2.16 Satisfactory Form and Substance 62 SECTION 5.3 Conditions Precedent to all Loans and the Issuance of Letters of Credit 62 SECTION 5.3.1 Commitment Conditions 62 SECTION 5.3.2 Compliance with Warranties, No Default, etc 62 SECTION 5.3.3 No Events of Default 63 TABLE OF CONTENTS (continued) Page SECTION 5.3.4 Borrowing Request 63 SECTION 5.3.5 Additional Documents 63 SECTION 5.3.6 Title Insurance Policy Endorsements 63 SECTION 5.3.7 No Restriction 63 SECTION 5.3.8 Fees, Expenses, etc 64 SECTION 5.3.9 Loan Documents 64 SECTION 5.3.10 Security Interests 64 SECTION 5.3.11 No Restrictions 64 SECTION 5.3.12 Required Documents 65 SECTION 5.3.13 Satisfactory Legal Form 65 SECTION 5.4 Conditions Precedent to Delayed Draw Term Loans 65 SECTION 5.4.1 Phase II Club Operator 65 SECTION 5.4.2 Phase...
Conditions Precedent to Effectiveness and Loans. In addition to the conditions set forth in Section 6.2, this Agreement shall not become effective and Agent, the Issuing Banks and the Lenders shall not be required to fund any requested Loans, issue any Letter of Credit for the benefit of the Borrowers or otherwise extend credit to the Borrowers hereunder, until the date (“Closing Date”) that each of the following conditions has been satisfied:
Conditions Precedent to Effectiveness and Loans. SECTION 5.1 Conditions Precedent to Loan Commitments and Effectiveness of this Agreement 49
Conditions Precedent to Effectiveness and Loans
