CONDITIONS PRECEDENT TO UTILISATION. (a) The Borrower may not deliver a Request unless the Closing Agent has received all the documents and other evidence listed in Schedule 2 (Conditions precedent) in form and substance satisfactory to the Closing Agent. The Closing Agent shall notify the Borrower and the Lenders promptly upon being so satisfied.
(b) Other than to the extent that the Majority Lenders notify the Closing Agent in writing to the contrary before the Closing Agent gives the notification described in paragraph (a) above, the Lenders hereby authorise (but do not require) the Closing Agent to give that notification. The Closing Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such notification.
CONDITIONS PRECEDENT TO UTILISATION. 1. Formalities Certificate(s): A certificate from the Company and from TRU (UK) H5 Limited, together in each case with the documents referred to in that certificate, including the constitutional documents of the Company or TRU (UK) H5 Limited (as applicable) and the appropriate board approving the relevant Finance Documents, to the effect that such documents are genuine, and are true copies of the originals which are in full force and effect.
CONDITIONS PRECEDENT TO UTILISATION of an authorised signatory of the Borrower certifying that each copy document which it is required to provide under this Part B of Schedule 2 (Conditions Precedent) is correct, complete and in full force and effect as at the Utilisation Date.
CONDITIONS PRECEDENT TO UTILISATION. 5 The Guarantor
5.1 Evidence confirming the authority of the Guarantor to enter the Guarantee.
CONDITIONS PRECEDENT TO UTILISATION. 3.5.1 The Bank is not obliged to permit any utilisation or release such relevant Facility or any part thereof until the Bank is satisfied that:-
(i) no event has occurred so as to render any of the Indebtedness to be immediately payable and no Event of Default has happened and continuing;
(ii) no extraordinary circumstances or change of law or other government action have occurred which may render the Customer and/or the Security Party to be unable to observe and perform their respective covenants and obligations in this Agreement and/or the Security Documents; and
(iii) no event has occurred and no circumstances exist which could or might, in the opinion of the Bank (which shall be final and conclusive) affect the financial condition of the Customer and/or the Security Party so as to render any of them unable to perform their obligations under this Agreement and/or the Security Documents.
3.5.2 Notwithstanding Clause 3.5.1, the Customer agrees that during the course of disbursement or utilisation of the Facility, the Bank may by notice to the Customer impose such other conditions precedent as the Bank, considers necessary for further disbursement or utilisation of the remaining Facility and the Customer shall upon receipt of such notice, comply with such additional conditions precedent. Until such additional conditions precedent are complied with to the satisfaction of the Bank, the Bank is entitled to withhold any further disbursement or utilisation of the remaining Facility without being liable to the Customer and any other parties for any loss and/or damages that may arise from such withholding.
3.5.3 The Customer agrees that all conditions precedent are for the Bank’s sole benefit and the Bank is entitled to waive or defer the fulfilment of any one or more of such conditions precedent. Any waiver shall not prevent the Bank from insisting on compliance with any waived condition precedent at a later time.
3.5.4 Until the conditions precedent contained in Clause 3.5.1 have been satisfied or fulfilled to the satisfaction of the Bank, the Bank may terminate, suspend or cancel the whole or any part of the Facility.
CONDITIONS PRECEDENT TO UTILISATION. TRANCHE A AND TRANCHE BUTILISATION In this Part B of Schedule 2 (Conditions Precedent):
CONDITIONS PRECEDENT TO UTILISATION. Relating to each of the Borrower and the Guarantor
CONDITIONS PRECEDENT TO UTILISATION. References to the relevant Ship and to the relevant Borrower are references to the Ship being financed by the relevant Tranche and to the Borrower that will own such Ship respectively.
CONDITIONS PRECEDENT TO UTILISATION. Documentary evidence that the relevant Newbuild Ship: (a) has been unconditionally delivered by the Builder to, and accepted by, the Borrower or the Guarantor as relevant under the relevant Shipbuilding Contract and that the full purchase price payable and all other sums due to the Builder under that Shipbuilding Contract, other than the sums to be financed pursuant to the Utilisation of this Advance, have been paid to the Builder; (b) is definitively and permanently registered in the name of the Borrower or the Guarantor as relevant under the Approved Flag.
CONDITIONS PRECEDENT TO UTILISATION. Borrower
