Conditions to Advances Sample Clauses
Conditions to Advances. (a) As a condition to the disbursement of any Advance, the Borrower shall, at least three Business Days prior to the requested disbursement date (or such shorter period as the Noteholder may reasonably agree), deliver to the Noteholder a written notice (the “Borrowing Notice”) setting out (a) the amount of the Advance, (b) the date on which the Advance is to be disbursed and (c) the Interest Period for such Advance. Upon receipt of the Borrowing Notice, the Noteholder shall make available to the Borrower on the disbursement date the amount set out in the notice in immediately available funds.
(b) At the time of each Advance hereunder:
(i) each of the representations and warranties set forth herein shall be and remain true and correct (or, in the case of any representation or warranty not qualified as to materiality, true and correct in all material respects) as of such time, except to the extent the same expressly relate to an earlier date (and in such case shall be true and correct (or, in the case of any representation or warranty not qualified as to materiality, true and correct in all material respects) as of such earlier date);
(ii) no Default or Event of Default shall have occurred and be continuing or would occur as a result of such Advance;
(iii) after giving effect to any requested extension of credit, the aggregate principal amount of all Advances under this Agreement shall not exceed the aggregate Commitments;
(iv) the Noteholder shall have received the notice required by Section 2.2(a);
(v) in the case of a Tranche B Advance, the aggregate amount of the Tranche A Advances outstanding shall equal the amount of the Tranche A Commitments; and
(vi) in the case of a Tranche B Advance, the Subordination Provisions with respect to the Tranche B Advances are in full force and effect and the material terms of this Note applicable to the Tranche B Advances, including any interest rates, payment terms, maturities, amortization schedules, covenants, defaults, and remedies, have been acknowledged in writing by Fifth Third as being acceptable in form and substance to Fifth Third.
Conditions to Advances. No Advance shall be made unless each of the following conditions is satisfied as of the proposed date of such Advance:
(1) the Amended and Restated Effective Date shall have occurred;
(2) the Company shall have delivered a Request for Advance in accordance with Section 2.03(d);
(3) no Market Value Event has occurred;
(4) no Event of Default or Default has occurred and is continuing;
(5) the Reinvestment Period has not ended;
(6) all of the representations and warranties contained in Article VI and in any other Loan Document shall be true and correct in all material respects (or with respect to such representations and warranties which by their terms contain materiality qualifiers, shall be true and correct), in each case on and as of the date of such Advance, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (or with respect to such representations and warranties which by their terms contain materiality qualifiers, shall be true and correct) as of such earlier date; and
(7) after giving pro forma effect to such Advance (and any related Purchase) hereunder:
Conditions to Advances. No Advance shall be made unless each of the following conditions is satisfied (or waived by the Administrative Agent in writing (including via email) in its sole discretion) as of the proposed date of such Advance:
(1) the Effective Date shall have occurred;
(2) the Company shall have delivered a Request for Advance in accordance with Section 2.03(d) and, in connection with an Advance made in connection with a Purchase (other than an Initial Portfolio Investment), the related Approval Request has been approved by the Administrative Agent in accordance with Section 1.02;
(3) no Cash Sweep Event, Event of Default or Default has occurred and is continuing;
(4) the Reinvestment Period has not ended;
(5) all of the representations and warranties contained in Article VI and in any other Credit Document shall be true and correct in all material respects (or with respect to such representations and warranties which by their terms contain materiality qualifiers, shall be true and correct), in each case on and as of the date of such Advance, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (or with respect to such representations and warranties which by their terms contain materiality qualifiers, shall be true and correct) as of such earlier date; and
(6) immediately after giving pro forma effect to such Advance (and any related Purchase) hereunder:
(a) the Borrowing Base Test is satisfied;
(b) the aggregate principal balance of Multi-Currency Tranche Advances then outstanding will not exceed the aggregate limit for Multi-Currency Tranche Advances set forth in the Transaction Schedule;
(c) the aggregate principal balance of USD Advances and Swingline Loans then outstanding will not exceed the aggregate limit for USD Advances set forth in the Transaction Schedule; and
(d) in the case of an Advance made in connection with a Purchase, the amount of such Advance shall be not less than U.S.$1,000,000 unless waived by the Administrative Agent. If the above conditions to an Advance are satisfied or waived by the Administrative Agent, the Servicer shall determine, in consultation with the Administrative Agent and with notice to the Lenders and the Collateral Administrator, the date on which any Advance shall be provided.
Conditions to Advances. Notwithstanding any other provisions to the contrary contained in this Agreement, the making of Advances or the Issuance of Letters provided for in this Agreement shall be conditioned upon the following:
Conditions to Advances. The obligations of RUS to approve any Advance of the Grant is subject to the satisfaction of each of the following conditions precedent on or before the date of such Advance (all documents, certificates and other evidence of such conditions precedent are to be satisfactory to RUS in its discretion):
Conditions to Advances. 5.1. Each Advance ........................................................ 22 5.2. First Advance ....................................................... 23
Conditions to Advances. As a condition precedent to an Advance, RAC shall deliver to AFC, at AFC’s request, a certificate in a form acceptable to AFC certifying that (a) no Event of Default has occurred or is continuing, (b) RAC is in complete compliance with the terms and conditions of this Note, (c) all prior Advances made for the purpose of enabling RAC to purchase an item of Purchase Money Inventory have only been used to purchase Vehicles encumbered by this Note, (d) no material adverse effect to the operation or prospects of RAC (financial, business, labor or otherwise) exists or is threatened, (e) no checks issued by RAC to AFC have been dishonored, and (f) such other information as AFC may request. In addition, if the Advance request is for the purpose of enabling RAC to purchase and hold an item of Purchase Money Inventory for resale, RAC shall deliver to AFC, at AFC’s request, a certificate in a form acceptable to AFC, certifying that the Advance will only be used to purchase Vehicles encumbered by this Note.
Conditions to Advances. The Lenders shall not be obligated to make any Advances unless the following conditions have been satisfied:
Conditions to Advances. Notwithstanding any other provision of this Agreement or any of the other Transaction Documents, and without affecting in any manner the rights of Secured Party under any other provision of this Agreement, Secured Party shall not be obligated to make Advances unless and until the following conditions have been, and continue to be, satisfied:
Conditions to Advances. The obligation of the Bank to make any Advance is subject to the following conditions: (i) the satisfaction of each condition in Section 4.01 hereof on or prior to the Effective Date, (ii) receipt by the Bank of a properly presented and conforming Notice of Borrowing in accordance with Section 2.02(a) hereof and (iii) no Special Event of Default or Suspension Event shall have occurred and be continuing. In addition, the Bank shall have no obligation to make an Advance the proceeds of which shall be used to pay the principal of or interest on any maturing Commercial Paper Note that was adopted by the City or the Issuing and Paying Agent after receipt by the Issuing and Paying Agent and the City of a