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 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)) 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 7.12:
Appears in 2 contracts
Samples: Abl Credit Agreement (Hd Supply, Inc.), Abl Credit Agreement (HSI IP, Inc.)
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 and each Issuing Lender to issue Letters of Creditit, 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)) set forth in 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 7.127.10:
Appears in 2 contracts
Samples: Revolving Credit Agreement (Great North Imports, LLC), Abl 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 it 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)) set forth in 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 7.126.10:
Appears in 2 contracts
Samples: Credit Agreement (Great North Imports, LLC), Term Loan 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 it and each 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)) 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 7.126.11:
Appears in 1 contract
Samples: Credit Agreement (HSI IP, Inc.)