Conditions to Effectiveness; Cessation of Waiver Effectiveness if Condition Not Satisfied Sample Clauses

Conditions to Effectiveness; Cessation of Waiver Effectiveness if Condition Not Satisfied. This Amendment shall become effective on the date (the "Amendment Effective Date") on which (i) the Borrower, the Subsidiary Guarantors, the Agents and the Lenders shall have executed and delivered this Amendment, (ii) the Borrower shall have received at least $4,000,000 in gross proceeds from the issuance to Xxxxx, Xxxx & Xxxxx, L.L.C. and Centre Partners Management LLC and/or their Control Investment Affiliates of shares of its common stock, (iii) the Borrower shall have paid to Administrative Agent for distribution to each Lender the fees set forth on Annex B hereto and (iv) the Borrower shall have paid the fees and reimbursed the disbursements of counsel to the Agents.
AutoNDA by SimpleDocs

Related to Conditions to Effectiveness; Cessation of Waiver Effectiveness if Condition Not Satisfied

  • EFFECTIVENESS; CONDITIONS OF LENDING, ETC The obligation of each Lender to make its Loans and of the Issuing Lender to issue Letters of Credit is subject to the following conditions precedent:

  • Effectiveness Conditions This Amendment shall be effective upon the completion of the following conditions precedent (all agreements, documents and instruments to be in form and substance satisfactory to Agent and Agent’s counsel):

  • Conditions to Effectiveness of Extension Notwithstanding the foregoing, (x) no more than two (2) extensions of the Maturity Date shall be permitted hereunder and (y) any extension of any Maturity Date pursuant to this Section 2.21 shall not be effective with respect to any Extending Lender unless:

  • Conditions to Effectiveness of Agreement This Agreement shall become effective on the date (the "Effective Date") each of the following conditions precedent is satisfied:

  • CONDITIONS TO EFFECTIVENESS OF THIS FIRST AMENDMENT Section 3.1. This First Amendment shall not become effective until, and shall become effective when, each and every one of the following conditions shall have been satisfied:

  • Conditions to Effectiveness of Extensions Notwithstanding the foregoing, the extension of the Maturity Date pursuant to this Section shall not be effective with respect to any Lender unless:

  • Conditions to Effectiveness of this Agreement The effectiveness of this Agreement is subject to the satisfaction of the following conditions precedent:

  • Conditions to Effectiveness of Increase As a condition precedent to such increase, the Borrower shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Increase Effective Date signed by a Responsible Officer of such Loan Party (i) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and (ii) in the case of the Borrower, certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in Section 5 and the other Loan Documents are true and correct in all material respects on and as of the Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date, and except that for purposes of this Section 2.11, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01, and (B) no Default exists. To the extent that the increase of the Commitments shall take the form of a new term loan tranche, this Agreement shall be amended, in form and substance satisfactory to the Administrative Agent, to include such terms as are customary for a term loan commitment. The Borrower shall prepay any Loans outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Total Credit Exposure of any Lender under this Section, and each Loan Party shall execute and deliver such documents or instruments as the Administrative Agent may require to evidence such increase in the Total Credit Exposure of any Lender and to ratify each such Loan Party’s continuing obligations hereunder and under the other Loan Documents.

  • Conditions to Effectiveness of this Amendment This Amendment shall become effective as of the date hereof, upon the satisfaction of the conditions precedent that:

  • Conditions Precedent/Effectiveness Conditions This Amendment shall be effective upon (the “Effective Date”) the satisfaction of each of the following conditions (all documents to be in form and substance reasonably satisfactory to Administrative Agent and Administrative Agent’s counsel):

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!