CONDITIONS TO INITIAL REVOLVING LOAN. The obligation of the Lender to make the initial Revolving Loan hereunder is subject to the receipt by the Lender of the following documents in form and substance reasonably satisfactory to the Lender:
(a) this Agreement duly executed and delivered by the Borrower;
(b) a duly executed Revolving Credit Note;
(c) a duly executed Pledge Agreement granting a security interest in American Banking Company (to be renamed Ameris Bank following the combination of seven Financial Institution Subsidiaries into a single charter), together with stock powers signed in blank, representing 100% of the shares of stock of American Banking Company;
(d) a certificate of the Secretary or Assistant Secretary of the Borrower, attaching and certifying copies of its bylaws and of the resolutions of its boards of directors, authorizing the execution, delivery and performance of the Loan Documents and certifying the name, title and true signature of each officer of the Borrower authorized to execute the Loan Documents;
(e) certified copies of the articles of incorporation of the Borrower, together with good standing certificates (or the equivalent) as may be available from the Secretary of State of the jurisdiction of incorporation of the Borrower and American Banking Company and each other jurisdiction where the Borrower or such Subsidiary is required to be qualified to do business as a foreign corporation;
(f) a favorable written opinion of Xxxxxx & Xxxxxx LLP, counsel to the Borrower, addressed to the Lender, and covering such matters relating to the Borrower, the Loan Documents and the transactions contemplated therein as the Lender shall reasonably request; and
(g) a duly executed funds disbursement agreement.
CONDITIONS TO INITIAL REVOLVING LOAN. In addition to the conditions set forth in Section 5.2, the obligation of each Lender to make the initial Revolving Loan on or after the date of this Agreement, and the obligation of Agent on or after the date of this Agreement to disburse the proceeds of such Revolving Loan, are subject to fulfillment of the following conditions precedent prior to the initial Revolving Loan:
CONDITIONS TO INITIAL REVOLVING LOAN. The obligation of the ------------------------------------ Lender to make the initial Revolving Loan is subject to the fulfillment to the satisfaction of the Lender on the date hereof of the following conditions precedent:
4.1.1 Receipt by the Lender of all of the agreements, documents, instruments, certificates and opinions listed or described on the Closing Checklist attached hereto as Exhibit E, in form and substance satisfactory to the Lender, and duly executed and delivered by the parties thereto, along with such additional
4.1.2 The representations and warranties contained herein shall be true and accurate on and as of the date hereof, the Borrower shall have performed and complied with all covenants and conditions required herein to be performed or complied with by it prior to the making of such Revolving Loan, and no Default or Event of Default shall be continuing or result from the Revolving Loans to be made on the date hereof or the transactions contemplated hereby.
CONDITIONS TO INITIAL REVOLVING LOAN. (s). The obligation of Xxxxxx to make the initial Revolving Loan(s) or to issue any Lender Guaranty on the first Funding Date (as defined below) are, in addition to the conditions precedent specified in Section 7.2, subject to the delivery of all documents listed on Schedule 7.1, all in form and substance acceptable to Xxxxxx.
CONDITIONS TO INITIAL REVOLVING LOAN. The obligation of the Lender to make the initial Revolving Loan hereunder is subject to the receipt by the Lender of the following documents in form and substance reasonably satisfactory to the Lender:
(a) this Agreement duly executed and delivered by the Borrower;
(b) a duly executed Revolving Credit Note;
(c) a duly executed Pledge Agreement and all shares owned by the Borrower in Xxxxxx County Bank, together with blank signed stock powers;
(d) a certificate of the Secretary or Assistant Secretary of the Borrower, attaching and certifying copies of its bylaws and of the resolutions of its boards of directors, authorizing the execution, delivery and performance of the Loan Documents and certifying the name, title and true signature of each officer of the Borrower authorized to execute the Loan Documents;
(e) certified copies of the charter of the Borrower, together with good standing certificates (or the equivalent) as may be available from the Secretary of State of the jurisdiction of incorporation of the Borrower and Xxxxxx County Bank and each other jurisdiction where the Borrower or Xxxxxx County Bank is required to be qualified to do business as a foreign corporation;
(f) a favorable written opinion of Bass, Xxxxx & Xxxx PLC, counsel to the Borrower, addressed to the Lender, and covering such matters relating to the Borrower, the Loan Documents and the transactions contemplated therein as the Lender shall reasonably request; and
(g) a duly executed funds disbursement agreement.
CONDITIONS TO INITIAL REVOLVING LOAN. In addition to the conditions set forth in Section 5.2, the obligation of each Lender to make the initial Revolving Loan on or after the date of this Agreement, and the obligation of Agent on or after the date of this Agreement to
CONDITIONS TO INITIAL REVOLVING LOAN. Lender shall have no obligation to make the initial Revolving Loan, unless:
CONDITIONS TO INITIAL REVOLVING LOAN. The obligation of the Lender to make the initial Revolving Loan is subject to the fulfillment to the satisfaction of the Lender on the date hereof of the following conditions precedent:
CONDITIONS TO INITIAL REVOLVING LOAN. The agreement of Lenders to make the initial Revolving Loan requested to be made on the Closing Date is subject to the satisfaction, or waiver by Agent, immediately prior to or concurrently with the making of such initial Revolving Loan, of the following conditions precedent:
CONDITIONS TO INITIAL REVOLVING LOAN. The obligation of Bank to make the initial Revolving Loan and to deem Existing Letters of Credit to be Letters of Credit issued hereunder pursuant to subsection 3.7 hereof are, in addition to the conditions precedent specified in subsection 4.2, subject to prior or concurrent satisfaction of the following conditions:
