Conditions to Initial Funding. The obligations of the Lenders to make the Term Loans and of the Issuing Bank to issue any Letter 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 9.2):
Conditions to Initial Funding. Lender’s obligation to make the initial Loan pursuant to this Loan Agreement and the Other Agreements is subject to the full and timely performance of the following covenants prior to or contemporaneously with the making of the initial Loan.
Conditions to Initial Funding. The effectiveness of this Agreement and the other Loan Documents and the obligations of the Lenders to make the initial Loan is subject to the satisfaction, in the sole judgment of Administrative Agent, or waiver in accordance with Section 9.11, of the following conditions on or before the Closing Date:
Conditions to Initial Funding. The obligation of each Lender and each L/C Issuer to make its initial Credit Extension hereunder is subject to the satisfaction of the following conditions precedent:
Conditions to Initial Funding. The obligation of Lender to issue and/or maintain Letters of Credit or make and/or maintain Advances hereunder is subject to the fulfillment, to the satisfaction of Lender and its counsel, of each of the following conditions:
Conditions to Initial Funding. The obligation of the Bank to enter into and perform under this Agreement and to make Advances is subject to the Borrowers" satisfaction of the following conditions precedent at or as of the date of the initial Advance under the Revolving Credit Facility:
Conditions to Initial Funding. 20 3.1.1 Execution of this Agreement ................................................... 21 3.1.2 The Notes ..................................................................... 21
Conditions to Initial Funding. The obligation of the Lenders to make the initial Loans or the Issuing Bank to issue (or be deemed to have issued) any Letters of Credit on the Closing Date pursuant to this Credit Agreement shall be subject to the fulfillment, to the satisfaction of the Administrative Agent, the Lead Arrangers, the Lenders and Issuing Bank (unless otherwise specified), of the conditions set forth below.
Conditions to Initial Funding. Neither the Company nor the Bank Investors shall, and shall have no obligation to, advance any funds to the Issuer in connection with the Initial Funding if on the date of the Initial Funding, (i) either (x) if the Initial Funding is to be made by the Company, the sum of the Net In vestment after giving effect to the Initial Funding plus the Interest Component of Commercial Paper issued in connection with such Funding would exceed the Facility Limit, or (y) if the Initial Funding is to be made by the Bank Investors, the Net Investment, after giving effect to the Initial Funding, would exceed the Facility Limit, (ii) after giving effect to such Funding, the Net Asset Test is not satisfied, (iii) if the Net Investment is funded by the Company, the Company is unable to obtain funds therefor in the commercial paper market or under the Liquidity Provider Agreement, (iv) the Issuer shall have failed to deposit any Required Yield Deposit Amount into the Yield Supplement Account required pursuant to Section 2.13 of the Security Agreement, (v) the Issuer is not in compliance with Section 5.3 of the Security Agreement, (vi) the Policy shall not be in full force and effect or the Insurer shall have failed to make any required payment thereunder; (vii) the Issuer shall not have deposited in the Reserve Account, or shall not have given irrevocable instructions to the Agent to withhold from the proceeds of the Initial Funding, an amount equal to the amount necessary to cause the amount on deposit in the Reserve Account to equal the Required Reserve Account Amount (calculated as if the Initial Funding shall have occurred); (viii) a Potential Termination Event or the Termination Date shall have oc curred and be continuing, or (ix) the conditions precedent set forth in Section 4.1 of the Security Agreement shall not be satisfied.
Conditions to Initial Funding. The obligation of each Lender to fund its Loans comprising the initial Borrowings requested hereunder shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Section 4.01.
