Conditions to Each Borrowing. The obligation of each Lender to make a Loan as part of any Borrowing (including the first Borrowing) is also subject to satisfaction of the following further conditions precedent on the applicable Borrowing Date:
Conditions to Each Borrowing. The election of each Conduit Investor to fund, and the obligation of each Committed Note Purchaser to fund, any Borrowing on any day (including the initial Borrowing) shall be subject to the conditions precedent that on the date of the Borrowing, before and after giving effect thereto and to the application of any proceeds therefrom, the following statements shall be true:
(a) (i) the representations and warranties of each of the Co-Issuers set out in this Agreement (with the exception of representations and warranties set forth in Section 6.01(b), which shall have been true and accurate in all respects on the Series 2007-2 Closing Date), (ii) the representations and warranties of the Servicer set out in this Agreement (with the exception of the representations and warranties set forth in Section 6.02(a), which shall have been true and accurate on the dates specified therein), and (iii) the representations and warranties of each of the Co-Issuers and the Servicer set out in the Base Indenture and the other Transaction Documents (other than Series Supplements and Transaction Documents relating solely to a Series of Notes other than the Series 2007-2 Notes) to which each is a party, in each such case, shall be true and accurate as of the date of the Borrowing with the same effect as though made on that date (unless stated to relate solely to an earlier date, in which case such representations and warranties shall be true and correct as of such earlier date);
(b) the Series 2007-2 Mandatory Redemption Period has not commenced;
(c) the related Funding Agent shall have received the most recent Monthly Noteholders’ Statement for the Series 2007-2 Notes as delivered in accordance to Section 12.1(c) of the Base Indenture and an executed advance request in the form of Exhibit A hereto (each such request, an “Series 2007-2 Advance Request”) certifying as to the current Aggregate Asset Amount, Series 2007-2 Enhancement Amount and Class B Enhancement Amount; and
(d) all conditions to such Borrowing specified in Section 2.02(a) of this Agreement shall have been satisfied. The giving of any notice pursuant to Section 2.03 shall constitute a representation and warranty by the Co-Issuers and the Servicer that all conditions precedent to such Borrowing have been satisfied.
Conditions to Each Borrowing. The obligation of the Lender to make a Loan is subject to the satisfaction, unless waived in writing by the Lender, of the further conditions precedent that:
(a) the Closing Date shall have occurred;
(b) the Lender shall have received a Borrowing Notice in accordance with Section 2.2;
(c) the representations and warranties of the Loan Parties set out in the Loan Documents shall be (A) if any such representation and warranty is qualified as to materiality or by reference to the existence of a Material Adverse Effect, true and correct (as so qualified) on and as of the Borrowing Date, or (B) if any such representation and warranty is not so qualified, true and correct in all material respects on and as of the Borrowing Date; provided, that for purposes of this Section 4.2(c), the representation and warranty of the Borrower contemplated in Section 3.1(a) shall be deemed to refer to the last day of the period covered by the most recent financial statements furnished to the Lender hereunder;
(d) the sum of the outstanding principal amount of the Loans plus the amount of the requested Loan shall be equal to or less than the Aggregate Commitment Amount; and
(e) immediately prior and after the borrowing of the Loan on the Borrowing Date, no Default or Event of Default shall have occurred and be continuing.
Conditions to Each Borrowing. The obligation of Lender to fund the first Borrowing (in the case of (f)) and each Borrowing, if applicable (in the case of (a) – (e)) shall be subject to following conditions precedent:
(a) With respect to each Borrowing, each of the representations and warranties made by Borrower in or pursuant to the Loan Documents shall be true and correct in all material respects (except where already qualified as to materiality) on and as of the date of the making of such Borrowing as if made on and as of the date of such Borrowing, except for representations and warranties expressly stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all material respects only as of such earlier date;
(b) no Default or Event of Default shall have occurred and be continuing on the date of on such Borrowing or immediately after giving effect to such Borrowing;
(c) Lender shall have received a fully executed Borrowing Request;
(d) Lender shall have received evidence that SLS Lender has disbursed (or will disburse contemporaneously with the Borrowing), all SLS Tranche 2 Approved Funds as of the date of the Borrowing and that all escrowed funds (other than any holdback amounts consisting of 10% of the capital contribution of any Investing Member whose I-526 Petition has not yet been approved) have been released to SLS Lender and constitute SLS Tranche 2 Non-Approved Funds (which evidence may consist of a certification by the Borrower included in the Borrowing Request); provided that in the event the amount of the Borrowing exceeds the amount of SLS Tranche 1 Approved Funds as of the date of the Borrowing, then Lender shall have received evidence that SLS Lender has disbursed (or will disburse contemporaneously with the Borrowing) all SLS Tranche 2 Non-Approved Funds as of the date of the Borrowing;
(e) With respect to any Borrowing, if the aggregate principal amount outstanding of all prior Borrowings plus the requested amount of such Borrowing exceeds $150,000,000, Lender shall have received an endorsement to the Title Policy delivered pursuant to Section 4.01(q) having the effect of increasing the amount of the Title Policy to an amount that is equal to our greater than the sum of the aggregate principal amount outstanding of all prior Borrowings plus the requested amount of such Borrowing; and
(f) Lender shall have received prior to the First Disbursement Date confirmation of the amounts on deposit in the First Li...
Conditions to Each Borrowing. As a condition precedent to each borrowing (including the initial borrowing) of any Loan:
(i) The Borrower must furnish the Lender with, as appropriate, a notice of borrowing;
(ii) each representation and warranty set forth in Paragraph 4 below shall be true and correct in all material respects as if made on the date of such borrowing; and
(iii) no Default shall have occurred and be continuing on the date of such borrowing. Each notice of borrowing shall be deemed a representation and warranty by the Borrower that the conditions referred to in clauses (ii) and (iii) above have been met.
Conditions to Each Borrowing. The obligations of the Lenders to make Loans on the occasion of any Borrowing are subject to the satisfaction of the following conditions:
(a) the representations and warranties of the Borrower and each Subsidiary set forth in the Loan Documents shall be true and correct (i) in the case of the representations and warranties qualified as to materiality, in all respects and (ii) otherwise, in all material respects, in each case on and as of the date of such Borrowing except with respect to representations and warranties expressly made only as of an earlier date, in which case such representations and warranties were so true and correct on and as of such earlier date;
(b) no event has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds therefrom that constitutes a Default or an Event of Default, as applicable; and
(c) receipt of a Borrowing Request in accordance with Section 2.03.
Conditions to Each Borrowing. Following the initial Funding Date, the obligation of each Lender to make one or more Loans hereunder, shall be subject to the satisfaction (or waiver in accordance with Section 14.2(a)) of each of the following conditions: (a)
Conditions to Each Borrowing. The obligation of each Lender to make a Loan as part of any Borrowing (including the first Borrowing) is also subject to satisfaction of the following further conditions precedent on the applicable Borrowing Date (provided that PIK Loans shall be deemed not to constitute a Loan for purposes of this Section 6.03), which shall have been satisfied or waived in writing by the Lenders:
Conditions to Each Borrowing. The making of any Loan is subject to satisfaction of each of the following conditions:
(i) subject to Section 2(b), the Administrative Agent must have received and approved an Approval Request for the Asset the Borrower intends to purchase with the proceeds of the Loan and such approval has not expired or been rescinded;
(ii) the Collateral Manager, on behalf of the Borrower, must furnish the Administrative Agent with a Borrowing Request with respect to the Loan and a Portfolio Asset Buy Confirmation with respect to the Asset the Borrower intends to purchase with the proceeds of the Loan;
(iii) [reserved];
(iv) the sum of (A) the amount of the proposed Loan, all other requested and unfunded Loans and (B) the Outstanding Principal Amount of all other Loans would not exceed the Maximum Facility Amount;
(v) the Collateral Quality Test is satisfied as of the related Acquisition Date (or if not in compliance, the relevant tests are maintained or improved after giving effect to any purchase or sale effected on any such Business Day);
(vi) no OC Ratio Breach or IC Ratio Breach has occurred and is continuing; (vii) each representation and warranty set forth in Section 8 shall be true and correct in all material respects (except for representations and warranties already qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) as if made on the date of such borrowing (or, if expressly stated to be made as of a specific date, on and as of such specific date);
Conditions to Each Borrowing. Without limitation to Section 2.2 with respect to any Stage 2 Loans, no Lender shall be obligated to make any Loan hereunder on or after the Closing Date (including, for the avoidance of doubt, the initial extension of credit hereunder) unless each of the following conditions precedent is satisfied or provided for in a manner reasonably satisfactory to the Administrative Agent, or duly waived in writing in accordance with Section 13.2.
(a) All representations and warranties in this Agreement and each other Loan Document shall be true and correct in all material respects (except to the extent any representation or warranty is qualified by materiality, Material Adverse Effect or word of like import, in which case such representation or warranty shall be true and correct in all respects) as of the date such Loan is advanced to the Borrowers.
(b) No Default or Event of Default shall have occurred and be continuing.
(c) The average cost of U.S. Gulf Coast jet aviation fuel, as reported by Platts, over the thirty (30) days prior to the proposed date of such Loan, is not greater than $5.00 per gallon.