Conditions to Advances. The obligation of Lender to make each Advance hereunder, shall be subject to the prior or simultaneous occurrence or satisfaction of each of the following conditions:
(a) The Loan Documents shall be and remain outstanding and enforceable in accordance with their terms, all as required hereunder.
(b) Lender shall have received a title report dated within two (2) days of the requested Advance from the Title Company showing no state of facts (other than the Permitted Exceptions) objectionable to Lender, including, but not limited to, a showing that title to the Land is vested in Global and that no claim for mechanics’ or materialmen’s liens has been filed against the Mortgaged Property.
(c) The representations and warranties made by Borrower, as contained in this Agreement and in all other Loan Documents shall be true and correct as of the date of each Advance; and if requested by Lender, Borrower shall give to Lender a certificate to that effect.
(d) The covenants made by Borrower to Lender, as contained in this Agreement and in all other Loan Documents shall have been fully complied with, except to the extent such compliance may be limited by the passage of time or the completion of construction of the Improvements.
(e) The Improvements shall not have been materially injured, damaged or destroyed by fire or other uninsured casualty, nor shall any part of the Mortgaged Property be subject to condemnation proceedings or negotiations for sale in lieu thereof.
(f) Borrower shall have complied with all requirements of the Inspecting Person and all Governmental Authorities.
(g) There shall exist no formal claim or dispute between Contractor and any contractor, subcontractor or materialmen as to monies owed in connection with any labor or materials furnished in connection with the construction of the Improvements.
(h) There shall exist no default or breach by any obligated party (other than the Lender) under the Loan Documents, provided however, to the extent that any grace or cure period is applicable to such a default or breach, the Lender shall be under no obligation to make an Advance unless and until said default or breach is cured to the reasonable satisfaction of the Lender.
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. 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. 5.1. Each Advance ........................................................ 22 5.2. First Advance ....................................................... 23
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. 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. At AFC’s election, as a condition precedent to an Advance, Dealer 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) Dealer is in complete compliance with the terms and conditions of this Note, (c) all prior Advances made for the purpose of enabling Dealer 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 Dealer (financial, business, labor or otherwise) exists or is threatened, (e) no checks issued by Dealer 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 Dealer to purchase and hold an item of Purchase Money Inventory for resale, Dealer 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
