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. (New York City 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 2.18 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. The following constitute conditions precedent to the obligation of the Series 1997-1 Letter of Credit Provider to issue the Series 1997-1 Letter of Credit (provided, that such conditions will be deemed to be satisfied upon the issuance of the Series 1997-1 Letter of Credit):
(i) On the date of issuance of the Series 1997-1 Letter of Credit, each condition precedent to (A) the issuance of the Series 1997-1 Note under the Series 1997-1 Note Purchase Agreement and the Series 1997-1 Supplement, (B) the initial Series 1997 Lease Advance under the Series 1997 Lease and (C) the effectiveness of the Series 1997-1 Note Purchase Agreement and the Series 1997-1 Liquidity Agreement shall be satisfied.
(ii) On the date of issuance of the Series 1997 Letter of Credit, all representations and warranties of each of the Lessees and Republic contained in this Agreement and in each other Related Document to which any of the Lessees or Republic is a party shall be true and correct immediately prior to, and after giving effect to, the issuance of the Series 1997-1 Letter of Credit .
(iii) On the date of issuance of the Series 1997-1 Letter of Credit, all representations and warranties of RFC contained in this Agreement and in each other CP Program Document to which RFC is a party shall be true and correct immediately prior to, and after giving effect to, the issuance of the Series 1997-1 Letter of Credit.
(iv) On the date of issuance of the Series 1997-1 Letter of Credit, (A) the Series 1997-1 Letter of Credit Provider shall have received duly executed original copies of the Series 1997-1 Support Letters of Credit and the GM Series 1997-1 Support Agreement, and (B) the aggregate sum of the Support Letter of Credit Commitments of all the Series 1997-1 Support Letter of Credit Providers and the Available GM Support Amount shall be an amount equal to the Series 1997-1 Fronting Letter of Credit Amount.
(v) The Series 1997-1 Letter of Credit Provider shall have received as of the Series 1997-1 Closing Date a copy of the confirmation letter from S&P to the effect that the Commercial Paper Notes shall have been given a rating of at least "A-1" by S&P, which rating shall be in full force and effect.
(vi) The Series 1997-1 Letter of Credit Provider shall have received copies of the opinions of counsel to each of the Series 1997-1 Support Letter of Credit Providers and the GM Series 1997-1 Support Provider, addressed to the Series 1997-1 Letter of Credit Provider and reasonably satisfac...
Conditions Precedent to Issuance. Of Letter Of Credit
Conditions Precedent to Issuance. The Lender will issue Letters of Credit and Letters of Guarantee under the Swing Line Credit on behalf of the Borrower upon being reasonably satisfied as to the purpose, terms, conditions and beneficiary(ies) thereof and upon execution by the Borrower of the Lender's usual forms.
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. 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.
