Conditions to Initial Borrowing Sample Clauses
Conditions to Initial Borrowing. The obligation of each Lender to extend credit to the Borrower and of each Issuing Bank to issue Letters of Credit hereunder on the Closing Date is subject only to the satisfaction, or waiver in accordance with Section 11.01, of each of the following conditions precedent, except as otherwise agreed between the Borrower and the Required Lenders:
(a) The Administrative Agent’s receipt of the following, each of which may be originals, facsimiles or copies in .pdf format, unless otherwise specified:
(i) this Agreement, duly executed by the Borrower;
(ii) a Revolving Loan Note in favor of each Lender requesting a Revolving Loan Note;
(iii) the Fee Letter, duly executed by the Borrower;
(iv) the Security Agreement, duly executed by the Borrower;
(v) original certificated securities (as defined in the UCC), if any, representing Pledged Equity issued by the Restricted Subsidiaries, accompanied by undated stock powers or other applicable transfer powers executed in blank;
(vi) a Perfection Certificate duly executed by the Borrower on behalf of the Loan Parties;
(vii) (A) certificates of good standing from the secretary of state or other applicable office of the state of organization or formation of the Borrower and each other Loan Party, (B) resolutions or other applicable action of the Borrower and each other Loan Party, (C) an incumbency certificate and/or other certificate of Responsible Officers of the Borrower and each other Loan Party, evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which it is a party or is to be a party on the Closing Date, (D) the bylaws or governing documents of such Loan Party as in effect on the Closing Date and (E) the articles or certificate of incorporation or formation (or equivalent), as applicable, of such Loan Party and all amendments thereto, certified as of a recent date by the appropriate Governmental Authority in its jurisdiction of incorporation, organization or formation (or equivalent), as applicable;
(viii) an opinion from the following special counsel to the Loan Parties, with respect to certain matters of New York and Delaware law: L▇▇▇▇▇ & W▇▇▇▇▇▇ LLP;
(ix) a certificate from the chief financial officer or other officer with equivalent duties of the Borrower as to the Solvency (after giving effect to the Transactions on the Closing Date) of the Borrower and its Subsidiaries (t...
Conditions to Initial Borrowing. The obligation of each Lender to advance the initial Borrowing hereunder is subject to the conditions precedent that the Administrative Agent shall have received, on or before the Closing Date, the following:
Conditions to Initial Borrowing. The obligation of each Lender to make a Loan as part of the first Borrowing hereunder shall not become effective until the following conditions precedent shall have been satisfied or waived in writing by the Majority Lenders:
Conditions to Initial Borrowing. The obligations of Lenders to make the initial Borrowing and of Issuing Bank to issue the initial LC is subject to satisfaction of the following conditions precedent on or before the Closing Date:
Conditions to Initial Borrowing. The obligation of the Conduit Investors, or if there is no Conduit Investor with respect to any Investor Group, the Committed Note Purchaser with respect to such Investor Group, to fund the initial Borrowing hereunder shall be subject to the satisfaction of the conditions precedent that each Funding Agent shall have received a duly executed and authenticated amended and restated Series 2009-1 Note registered in its name or in such other name as shall have been directed by the applicable Committed Note Purchaser and stating that the principal amount thereof shall not exceed the Maximum Investor Group Principal Amount of such Funding Agent’s Investor Group and HVF shall have paid all fees required to be paid by it on the Series 2009-1 Subsequent Closing Date, including all fees required hereunder.
Conditions to Initial Borrowing. (i) the Borrower shall have entered into the Preference Share Subscription Agreement;
(ii) the Borrower shall have issued and sold Preference Shares to the Preferred Investor and deposited the cash proceeds of such sale into the Trust Account in an amount not less than U.S.$7,500,000;
(iii) on or prior to the Closing Date, the Administrative Agent shall have received the executed legal opinions of (A) ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LLP, New York counsel to the Borrower, CLO Subsidiary I and the Collateral Manager, opining (1) on the enforceability, grant and perfection of the lien on the Borrower Collateral and the Transaction Documents, and (2) the enforceability of the Transaction Documents to which the Borrower, CLO Subsidiary I or the Collateral Manager is a party, (B) ▇▇▇▇▇▇▇ (Cayman) Ltd., Cayman Islands counsel to the Borrower and CLO Subsidiary I and (C) ▇▇▇▇▇▇ & Bird LLP, counsel to the Custodian, in each case, in form and substance acceptable to the Administrative Agent in its sole discretion; and
(iv) on or prior to the Closing Date, the Administrative Agent shall have received a legal memorandum of ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LLP, New York counsel to the Borrower, CLO Subsidiary I and the Collateral Manager, to the effect that no Approved CLO Takeout contemplated by this Agreement (without giving effect to any amendments hereto after the Closing Date) would be subject to the U.S. Risk Retention Rules.
Conditions to Initial Borrowing. The obligations of the Lenders to make Loans and of the Issuing Banks to issue Letters of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02):
(a) The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of this Agreement (a “Lender Addendum”) signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed Lender Addendum) that such party has signed a counterpart of this Agreement.
Conditions to Initial Borrowing. This Agreement shall become effective upon, and the obligation of each Lender to make its portion of the Loans to be advanced on the Closing Date is subject to, satisfaction of the following conditions precedent:
Conditions to Initial Borrowing. The obligation of each Lender to make its initial Borrowing hereunder is subject to satisfaction of the following conditions precedent:
Conditions to Initial Borrowing. The obligation of the Lender to make the Initial Loan is subject to the satisfaction, immediately prior to or currently with the making of such Loan of the following conditions precedent, unless the Lender has previously waived any such condition precedent in writing: