Conditions Precedent to Issuance of Each Bond Letter of Credit Sample Clauses

Conditions Precedent to Issuance of Each Bond Letter of Credit. The obligation of each LC Issuing Bank to issue any Bond Letter of Credit in connection with any series of Bonds shall be subject to the satisfaction of the conditions precedent set forth in Sections 3.01, 3.02 and (if applicable) 3.03 and the further conditions precedent that: (a) On or prior to the date of such issuance, the Administrative Agent shall have received the following, in form and substance reasonably satisfactory to the Administrative Agent and the applicable LC Issuing Bank and in sufficient copies for each Lender: (i) Counterparts of any Pledge Agreement relating to such Bonds, duly executed by the applicable Borrower, the Administrative Agent and the applicable Custodian. (ii) Certified copies of the applicable Related Documents (which, in the case of the applicable Bonds, may be a specimen of such Bonds). (iii) Certified copies of the resolutions of the board of directors of the applicable Borrower approving the Related Documents to which such Borrower is a party in connection with such Bond Letter of Credit, and of all documents evidencing other necessary corporate action and Governmental Approvals, if any, with respect to such Related Documents. (iv) A certificate of the Secretary or Assistant Secretary of the applicable Borrower certifying the names and true signatures of such Borrower authorized to sign the Related Documents to which such Borrower is a party in connection with such Bond Letter of Credit and the other documents to be delivered by such Borrower hereunder in connection with the issuance of such Bond Letter of Credit. (v) A copy of the Official Statement relating to the Bonds to be supported by such Bond Letter of Credit. (vi) A certificate of an authorized officer of the applicable Custodian certifying the names, true signatures and incumbency of the officers of such Custodian authorized to sign the applicable Pledge Agreement. (vii) A certificate of an authorized officer of the applicable Trustee certifying the names, true signatures and incumbency of the officers of such Trustee authorized to make drawings under such Bond Letter of Credit. (viii) Favorable opinions of counsel to the applicable Borrower and the applicable Issuer, in each case, with respect to the Related Documents to which each such Person is a party and such other matters as the Administrative Agent and the applicable LC Issuing Bank may reasonably request. (ix) A reliance letter from bond counsel relating to the Bonds to be supported by such Bond Lett...
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Conditions Precedent to Issuance of Each Bond Letter of Credit. The obligation of each LC Issuing Bank to issue any Bond Letter of Credit in connection with any series of Bonds shall be subject to the satisfaction of the conditions precedent set forth in Sections 3.01 and 3.02 and the further conditions precedent that: (a) The Administrative Agent shall have received on or before the date of such issuance the following, in form and substance reasonably satisfactory to the Administrative Agent and the applicable LC Issuing Bank and, to the extent requested by the Administrative Agent, in sufficient copies for each Lender:
Sample 1

Related to Conditions Precedent to Issuance of Each Bond Letter of Credit

  • Conditions Precedent to Each Extension of Credit The obligation of each Lender, the Swingline Bank and each LC Issuing Bank, as applicable, to make each Extension of Credit to be made by it hereunder (other than in connection with any Borrowing that would not increase the aggregate principal amount of Advances outstanding immediately prior to the making of such Borrowing) shall be subject to the satisfaction of the conditions precedent set forth in Section 3.01 and on the date of such Borrowing: (a) The following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the applicable Borrower of the proceeds of any such Extension of Credit shall constitute a representation and warranty by such Borrower that on the date of such Extension of Credit such statements are true): (i) The representations and warranties of such Borrower contained in Section 4.01 (other than the representation and warranty in Section 4.01(e) and the representation and warranty set forth in the last sentence of Section 4.01(f)) are true and correct in all material respects on and as of the date of such Extension of Credit, before and after giving effect to such Extension of Credit and to the application of the proceeds therefrom, as though made on and as of such date, and (ii) No event has occurred and is continuing with respect to such Borrower, or would result from such Extension of Credit or from the application of the proceeds therefrom, that constitutes a Default. (b) The Administrative Agent shall have received such other approvals, opinions or documents as any Lender or LC Issuing Bank through the Administrative Agent may reasonably request.

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