Common use of Conditions to Effectiveness and Initial Extension of Credit Clause in Contracts

Conditions to Effectiveness and Initial Extension of Credit. This Agreement, including the agreement of each Lender to make the initial Extension of Credit requested to be made by it, shall become effective on the date on which the following conditions precedent shall have been satisfied or waived; provided, however, that upon the satisfaction or waiver of the conditions (other than those set forth in clause (c)) of this subsection 6.1, to the extent provided thereby, all of the other conditions set forth in this subsection 6.1, if not satisfied or waived on such date, shall be deemed to have been satisfied for all purposes hereunder and all such other conditions, if not satisfied or waived on such date, shall automatically be converted into covenants to accomplish the satisfaction of the applicable matters described in such conditions within the time period required by subsection 7.10:

Appears in 2 contracts

Samples: Revolving Credit Agreement (Great North Imports, LLC), Pooling Agreement (Great North Imports, LLC)

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Conditions to Effectiveness and Initial Extension of Credit. This Agreement, including the agreement of each Lender to make the initial Extension of Credit requested to be made by it, it shall become effective on the date on which the following conditions precedent shall have been satisfied or waived; provided, however, that upon the satisfaction or waiver of the conditions (other than those set forth in clause (c)) of this subsection 6.15.1, to the extent provided thereby, all of the other conditions set forth in this subsection 6.15.1, if not satisfied or waived on such date, shall be deemed to have been satisfied for all purposes hereunder and all such other conditions, if not satisfied or waived on such date, shall automatically be converted into covenants to accomplish the satisfaction of the applicable matters described in such conditions within the time period required by subsection 7.106.10:

Appears in 2 contracts

Samples: Credit Agreement (Great North Imports, LLC), Credit Agreement (Great North Imports, LLC)

Conditions to Effectiveness and Initial Extension of Credit. This Agreement, including the agreement of each Lender to make the initial Extension of Credit requested to be made by itit and each Issuing Lender to issue Letters of Credit, shall become effective on the date on which the following conditions precedent shall have been satisfied or waived; provided, however, that upon the satisfaction or waiver of the conditions (other than those set forth in clause (c)) of set forth in this subsection 6.1, to the extent provided thereby, all of the other conditions set forth in this subsection 6.1, if not satisfied or waived on such date, shall be deemed to have been satisfied for all purposes hereunder and all such other conditions, if not satisfied or waived on such date, shall automatically be converted into covenants to accomplish the satisfaction of the applicable matters described in such conditions within the time period required by subsection 7.107.12:

Appears in 2 contracts

Samples: Credit Agreement (Hd Supply, Inc.), Credit Agreement (HSI IP, Inc.)

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Conditions to Effectiveness and Initial Extension of Credit. This Agreement, including the agreement of each Lender to make the initial Extension of Credit requested to be made by itit and the Issuing Lender to issue Letters of Credit, shall become effective on the date on which the following conditions precedent shall have been satisfied or waived; provided, however, that upon the satisfaction or waiver of the conditions (other than those set forth in clause (cd)) of set forth in this subsection 6.15.1, to the extent provided thereby, all of the other conditions set forth in this subsection 6.15.1, if not satisfied or waived on such date, shall be deemed to have been satisfied for all purposes hereunder and all such other conditions, if not satisfied or waived on such date, shall automatically be converted into covenants to accomplish the satisfaction of the applicable matters described in such conditions within the time period required by subsection 7.106.11:

Appears in 1 contract

Samples: Credit Agreement (HSI IP, Inc.)

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