Conditions Precedent to Issuance. The issuance by any Issuing Lender of each Letter of Credit shall, in addition to the conditions precedent set forth in Section 6, be subject to the conditions precedent that (i) such Letter of Credit shall be in such form, contain such terms and support such transactions as shall be satisfactory to such Issuing Lender consistent with its then current practices and procedures with respect to letters of credit of the same type and (ii) the Borrowers shall have executed and delivered such applications, agreements and other instruments relating to such Letter of Credit as such Issuing Lender shall have reasonably requested consistent with its then current practices and procedures with respect to letters of credit of the same type, provided that in the event of any conflict between any such application, agreement or other instrument and the provisions of this Agreement or any Security Document, the provisions of this Agreement and the Security Documents shall control.
Conditions Precedent to Issuance. (A) The Issuer shall have submitted to the Debenture Trustee, in a form and manner satisfactory to the Debenture Trustee, the following on or prior to the date of execution of the Deed:
(i) a certified true copy of the up-to-date memorandum and articles of association of the Issuer and the other Obligors (except the Promoter), amended, if required, to give effect to the provisions of the Debenture Documents, certificate of incorporation and certificate of commencement of business, if any, of the Issuer and the other Obligors;
(ii) a certified true copy of resolution of the board of directors of the Issuer accepting the terms of the Debentures and approving the issuance of the Debentures
(iii) a certified true copy of resolution of the board of directors of each Obligor (i) approving the terms of, and the transactions contemplated by, the Debenture Documents (including creation and perfection of Security) and the execution, delivery and performance of the Debenture Documents (ii) authorizing the affixation of the common seal on such Debenture Documents as may be required, and (iii) authorizing specified person or persons to sign, execute and deliver each such Debenture Document and any documents to be delivered by it pursuant thereto;
(iv) certified true copy of the shareholders resolutions of each Obligor which is a corporate entity (other than the Promoter)(including the resolutions required by the Issuer under Sections 42, 180(1)(a) and 180(1)(c) of the Companies Act, 2013, if applicable, and resolutions required by the other such Obligors under Sections 180(1)(a), 185 and 186 of the Companies Act, 2013, if applicable) authorising them to enter into and perform their obligations under the Debenture Documents;
(v) a certificate from an independent chartered accountant confirming, inter alia, that the issuance of Debentures shall not cause any borrowing limits that may be binding on the Issuer under the Constitutional Documents or shareholders’ or Board’s resolutions or otherwise, to be exceeded;
(vi) a certificate of the company secretary/Authorized Officer of the Issuer certifying that the Issuer has the necessary powers under the constitutional documents to issue the Debentures, create the Security and enter into the Debenture Documents and that issuance of the Debentures and the creation of the Security under and pursuant to the Debenture Documents would not cause any limit (including any borrowing limit) that may be binding on the Issuer under the Con...
Conditions Precedent to Issuance. The issuance by an Issuing Lender of each Letter of Credit shall, in addition to the conditions precedent set forth in Article III, be subject to the conditions precedent that (i) such Letter of Credit shall be in such form, contain such terms and support such transactions as shall be reasonably satisfactory to such Issuing Lender consistent with its then current practices and procedures with respect to letters of credit of the same type, and (ii) the Borrower shall have executed and delivered such applications, agreements and other instruments relating to such Letter of Credit as such Issuing Lender shall have reasonably requested consistent with its then current practices and procedures with respect to letters of credit of the same type; provided that in the event of any conflict between any such application, agreement or other instrument and the provisions of this Agreement, the provisions of this Agreement shall control. Not later than 5:00 p.m. (Local Time) on the Business Day preceding the date of issuance of any Letter of Credit, the relevant Issuing Lender shall request confirmation from the Administrative Agent that such issuance would not cause the limitations set forth in clause (ii) of the first paragraph of this Section 2.16 to be exceeded, and such Issuing Lender shall not issue such Letter of Credit if (x) the Administrative Agent advises such Issuing Lender that such limitations would be exceeded or (y) the Administrative Agent notifies such Issuing Lender that the Administrative Agent has been advised by any other Lender or the Borrower that a condition precedent under Section 3.02 relating to such issuance has not been satisfied.
Conditions Precedent to Issuance. CIBC shall issue letters of credit and give letters of guarantee on behalf of the Borrower upon execution by the Borrower of CIBC's standard forms applicable thereto.
Conditions Precedent to Issuance. Subject to satisfaction of the conditions precedent set forth in subsections (b) and (c) of this Section 2, the Bank shall issue the Letter of Credit in the Stated Amount, effective on the Date of Issuance and expiring on the Expiration Date.
Conditions Precedent to Issuance of Letters of ---------------------------------------------- Credit. The obligation of the Issuing Bank to issue any Letter ------ of Credit requested by the Company is subject to satisfaction of the following conditions precedent:
(a) Conditions to Loans shall be Satisfied. Each -------------------------------------- of the conditions specified in Sections 6.2 and 6.3 to -------------------- Borrowings shall also be applicable as conditions precedent to the issuance of any Letter of Credit.
Conditions Precedent to Issuance. It is understood that the provisions of Section 3 of the Original Reimbursement Agreement applied solely with respect to the issuance of the Initial Letter of Credit delivered contemporaneously with the execution and delivery of the Original Reimbursement Agreement. Accordingly, the terms of this Section 3 shall apply with respect to the issuance of the Letter of Credit being issued on the First Amendment Effective Date.
Conditions Precedent to Issuance. The issuance by the Issuing Lender of each Revolving Letter of Credit shall, in addition to the conditions precedent set forth in Section 7 hereof, be subject to the conditions precedent that (i) such Revolving Letter of Credit shall either (x) be in such form, contain such terms and support such transactions as shall be satisfactory to the Issuing Lender consistent with its then current practices and procedures with respect to Revolving Letters of Credit of the same type or (y) have been consented to by each Revolving Credit Lender and (ii) the Borrower shall have executed and delivered such applications, agreements and other instruments relating to such Revolving Letter of Credit as the Issuing Lender shall have reasonably requested consistent with its then current practices and procedures with respect to Revolving Letters of Credit of the same type.
Conditions Precedent to Issuance. Upon satisfaction of the conditions precedent set forth in subsections (b), (c) and (d) of this Section, Agent shall cause the Letter of Credit Bank to issue on the date requested by the Company (the "Date of Issuance") the Letter of Credit in the initial aggregate amount equal to the initial Letter of Credit Amount, effective on the Date of Issuance and expiring on the Termination Date.
Conditions Precedent to Issuance. Of Letter Of Credit
