Conditions to the Advance. The advance under the SSCD Credit Facility shall be made when, and only when, the following conditions have been satisfied, and continue to be satisfied as of the date of such advance, which conditions are for the sole and exclusive benefit of the Lender, and notwithstanding anything to the contrary, which may be waived in writing only by the Lender:
(a) the Lender shall be satisfied in all respects with each of the following:
(i) the completion and results of its due diligence review of the Borrower and its Affiliates, including discussions with management, a review of the historical financial results, a review of all Material Contracts, asset and other appraisals, title review and reports, environmental review and reports, mining reserves, engineering reports, the terms of all Indebtedness, the particulars of all Litigation, an inspection of all equipment and premises (including the Mineral Property), a review of working capital balances, including Inventory and Receivables, and discussions with selected personnel having dealings with the Borrower and its Affiliates,
(ii) the terms and conditions of all Material Contracts, and
(iii) the capitalization and capital structure of the Borrower and its Affiliates;
(b) the Lender shall have received from the Borrower (in form and substance satisfactory to the Lender) irrevocable directions from the Borrower to the Lender to pay a portion of the advance hereunder to (i) the Lender to repay all outstanding Indebtedness owing under or in connection with the Existing Senior Credit Facilities; (ii) the Lender in an amount equal to all reasonable fees and expenses of the Lender outstanding as of the Closing Date, including the fees and expenses described in Section 2.8 and 2.18; and (iii) Lender's Counsel in an amount equal to the reasonable fees and expenses of such counsel outstanding as of the Closing Date as provided for in Section 2.18;
(c) the Lender shall have received all share certificates evidencing all Capital Stock of HPL that is legally and beneficially owned by any Obligor or any Obligor Subsidiary as of such date, together with all corresponding transfers and powers of attorney;
(d) the Lender shall have received evidence satisfactory to it that:
(i) the Obligors have obtained all material permits, leases, licenses, quotas, approvals and authorizations, required for the use, lease, construction, development, occupation and operation of, and access to, all Mortgaged Properties,
(ii) the actual use, leas...
Conditions to the Advance. The obligation of Lenders to fund the Advance is subject to the satisfaction of the following conditions and requirements:
(a) timely receipt by Administrative Agent of the Advance Request related to the Advance;
(b) immediately before and after giving effect to the Advance, no Default or Event of Default shall have occurred and be continuing and the making of the Advance shall not cause a Default;
(c) the representations and warranties contained in the Revolving Credit Agreement and incorporated herein by reference and in the other Loan Documents shall be true and correct in all material respects on and as of the date of the Advance, except that all representations and warranties that speak as of a particular date shall only be required on the date of the Advance to be true and correct in all material respects as of the date to which such representation or warranty speaks and not as of any subsequent date; and
(d) such other information and documentation as Administrative Agent shall reasonably deem necessary or desirable in connection with the Advance.
Conditions to the Advance. The obligations of each Lender to make the Loans (and to maintain the existing outstanding Loans) shall be subject to the satisfaction of the following conditions precedent on or prior to the Closing Date:
Conditions to the Advance. The obligation of the Agent to make available the Advance is subject to the conditions that on the date on which the relevant Drawdown Notice is given and on the relevant Drawdown Date:
5.2.1 the representations and warranties in Clause 11 to be repeated on those dates are correct and will be correct immediately after the Advance is made;
5.2.2 no Default or Potential Default has occurred and is continuing or would occur on the making of the Advance; and
5.2.3 the Advance shall not, at any time, exceed the Term Loan Facility Limit.
Conditions to the Advance. The obligation of each Lender to make available its Participation in the Advance is subject to the conditions that on the date on which the relevant Drawdown Notice is given and on the relevant Drawdown Date:
5.2.1 the representations and warranties in Clause 11 (REPRESENTATIONS AND WARRANTIES) to be repeated on those dates are correct and will be correct immediately after the Advance is made; and
5.2.2 no Default or Potential Default has occurred and is continuing or would occur on the making of the Advance.
Conditions to the Advance. The obligation of each Participant to perform its obligations on the Advance Date shall be subject to the satisfaction of (including, with respect to writings, such writings being in form and substance reasonably satisfactory to the addressee or beneficiary thereof), or the waiver in writing by, such Participant of the conditions precedent set forth in this SECTION 3.1 on or prior to the Advance Date (except that the obligation of any party hereto shall not be subject to such party's own performance or compliance):
Conditions to the Advance. The Advance is subject to the further conditions precedent that both on the date of the Drawing Notice and on the Drawing Date no Event of Default or Potential Event of Default has occurred or would occur as a result of making the Advance.
Conditions to the Advance. Lender’s obligation to fund the Advance is conditioned upon the following: (a) Borrower shall have delivered to Lender a written request for the advance in form reasonably acceptable to Lender and such other documents as required by Lender, (b) no Event of Default shall have occurred and be continuing or would exist after the funding of such Advance, (c) no event or condition shall exist that has had or could be reasonably expected to have a Material Adverse Effect, and (d) the representations and warranties contained in this Agreement and the other Transaction Documents of Borrower shall be true and correct as if made on the date of funding of such Advance.
Conditions to the Advance. SECTION 3
Conditions to the Advance. As a condition precedent to the Advance of the Loan hereunder, Borrower must expressly satisfy all of the conditions that are noted by (x) described in Exhibit "B," and provide and execute such other documents, instruments and certificates as Lender may require.
