Conditions to Utilisation. The obligation of the Subordinated Loan Provider to make available any Subordinated Loan Advance under this Agreement shall be subject to the fulfilment on or prior to each Utilisation Date of the following conditions: (a) a request for a Subordinated Loan Advance as set out in Clause 5 below has been served; (b) the aggregate amount outstanding under the Subordinated Loan Facility including the relevant requested Subordinated Loan Advance on such date does not exceed the amount specified in Clause 2.2 above; (c) other than in case a Subordinated Loan Advance is requested for the purpose of paying the purchase price for New Mortgage Receivables and Substitution Assets, no Issuer Acceleration Notice has been served nor a CBC Event of Default has occurred; and (d) the request is made for the purpose set out in Clause 3.1 only.
Appears in 5 contracts
Samples: Subordinated Loan Agreement, Subordinated Loan Agreement, Subordinated Loan Agreement
