Common use of Conditions to Obligations of PRC Clause in Contracts

Conditions to Obligations of PRC. The obligations of PRC contemplated by this Agreement shall be subject to satisfaction by Xxxx of the following conditions precedent on and as of the Commencement Date: (i) Xxxx shall have duly executed the Step-in Xxxx of Sale; (ii) Xxxx shall have duly executed the Related Agreement and all other conditions to DCRC’s (with PBFH) obligations therein shall have been satisfied; (iii) Xxxx shall have duly executed the Bridging Agreement; (iv) Xxxx shall have delivered its Guaranty to PRC; (v) MSCG shall have duly executed the Payment Direction Letter; (vi) All representations and warranties of Xxxx contained herein shall be true and correct in all material respects on and as of the Commencement Date; (vii) Xxxx shall have delivered satisfactory evidence of its Internal Revenue Service Form 637; (viii) No action or proceeding shall have been instituted nor shall any action by a Governmental Authority be threatened in writing, nor shall any order, judgment or decree have been issued by any Governmental Authority as of the Commencement Date to set aside, restrain, enjoin or prevent the transactions and performance of the obligations contemplated by this Agreement; (ix) The Refinery and the Tanks shall not have been affected adversely by any casualty loss or damage, whether or not covered by insurance, unless such loss or damage would not be a Material Adverse Change with respect to the provision of Services; and (x) Xxxx shall have delivered to PRC proper notification, exemption or resale certificates or direct pay permits as may be required pursuant to Section 14.1.