Conditions to Term Loan Sample Clauses
Conditions to Term Loan. The obligation of the Lenders to make the Term Loan on the Conversion Date is subject to the prior or concurrent satisfaction or waiver of the following conditions precedent:
A. The Agent shall have received in accordance with the provisions of Section 2.2B an originally executed Notice of Conversion.
B. The Company or any of its Material Subsidiaries shall not be subject to a Bankruptcy Order or a bankruptcy or other insolvency proceeding and an Event of Default shall not have occurred under Section 7.6, 7.7 or 7.9 provided that if any Bankruptcy Order exists or any bankruptcy or other insolvency proceeding is pending that does not constitute an Event of Default under Section 7.6 or 7.9 on the Conversion Date, then the Conversion Date shall 52 be deferred until the earlier to occur of (x) the date when such Bankruptcy Order has been stayed, discharged or dismissed or such proceeding ceases to be pending or (y) such Bankruptcy Order or proceeding constitutes an Event of Default under Section 7.6 or 7.9.
C. No Event of Default or Potential Event of Default (whether matured or not) shall have occurred under Section 7.1 provided that if, as of the Conversion Date, any Potential Event of Default under Section 7.1 shall have occurred that has not matured into an Event of Default, then the Conversion Date shall be deferred until the earlier to occur of (x) the cure of such Potential Event of Default or (y) such Potential Event of Default becoming an Event of Default.
D. No Event of Default or Potential Event of Default shall have occurred under Section 7.2; provided that if an event described in this Section 3.2D is continuing at the Conversion Date but 30 days has not passed since the date of written notice of the commencement of such 30-day period from the holder or holders of not less than 50% in aggregate principal amount of the Loans then outstanding (the "Grace Period"), the Conversion Date shall be deferred until the earlier to occur of (x) the cure of such event or (y) the expiration of such Grace Period.
E. On the Conversion Date, the Agent shall have received an Officers' Certificate from the Company, dated the Conversion Date and satisfactory in form and substance to the Agent, to the effect that the conditions in this Section 3.2 are satisfied on and as of the Conversion Date.
F. The Company shall have executed and delivered to the Agent on the Conversion Date for delivery to the Lenders Term Notes dated the Conversion Date substantially in the form ...
Conditions to Term Loan. On the date of the Term Loan, the following statements will be true:
(a) All of the representations and warranties contained herein and in the Loan Documents will be correct in all material respects as though made on such date except for those changes permitted under this Agreement;
(b) No event will have occurred and be continuing, or would result from such Term Loan, which constitutes an Event of Default, or would constitute an Event of Default but for the requirement that notice be given or lapse of time or both; The acceptance by Borrower of the proceeds of the Term Loan will be deemed to constitute a representation and warranty by Borrower that the conditions in Section 7.2 of this Agreement, other than those that have been waived in writing by Bank, have been satisfied.
Conditions to Term Loan. The obligations of the Lender to fund the Term Loan are subject to the following conditions precedent, each of which shall have been met or performed on or before the Closing Date:
Conditions to Term Loan. The obligation of the Term Lenders to advance the Term Loan on or within fourteen (14) days following the Closing Date shall, in addition to the other conditions specified in §§11 and 12, be subject to the satisfaction of the following conditions.
Conditions to Term Loan. The obligation of the Lenders to make the Term Loan on the Conversion Date is subject to the prior or concurrent satisfaction or waiver of the following conditions precedent:
Conditions to Term Loan. The Lender’s obligation to make the Term Loan hereunder is subject to the satisfaction of each of the following conditions precedent:
Conditions to Term Loan. The obligation of the Bank to make the Term Loan hereunder is subject to the following conditions precedent:
Conditions to Term Loan. The obligation of each Term Loan Lender to make Term Loans hereunder is subject to satisfaction (or waiver in accordance with Section 10.02) of the following additional conditions precedent:
(a) The Administrative Agent shall have received a Borrowing Request in accordance with Section 2.03.
(b) The Administrative Agent shall have received a certificate, dated the Term Loan Draw Date and signed by a Responsible Officer of the Borrower, substantially in the form of Exhibit H, certifying that, both before and immediately after giving effect to the Term Loan, (i) no Default exists and (ii) the representations and warranties of the Loan Parties set forth in this Agreement and the other Loan Documents shall be true and correct in all material respects on and as of the Term Loan Draw Date, except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, on and as of the Term Loan Draw Date, such representations and warranties shall continue to be true and correct in all material respects as of such specified earlier date (provided that in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof).
(c) On or before the Term Loan Draw Date, the Borrower shall have paid to the Administrative Agent for the account of the Term Loan Lenders and for its own account and to the Arrangers all fees and expenses required to be paid on or before such date, and the Borrower shall have complied in all material respects with its other obligations set forth in the commitment letter dated October 20, 2014, among the Arrangers and the Borrower and the Fee Letters entered into in connection herewith.
(d) The Term Loan Draw Date shall occur no later than the Outside Term Loan Draw Date. Notwithstanding the foregoing, the obligations of the Term Loan Lenders to make Term Loans hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived in accordance with Section 10.02) on or prior to the Outside Term Loan Draw Date, and, in the event such conditions are not so satisfied or waived, the Term Loan Commitments shall terminate at such time.
Conditions to Term Loan. The obligation of Lender to make the Term Loan on the Closing Date is subject to satisfaction of all of the conditions set forth below. (A)
Conditions to Term Loan. 36 4.01 Borrower's Authority.......................................... 36 4.02