Common use of Determinations of Initial Borrowing Conditions Clause in Contracts

Determinations of Initial Borrowing Conditions. For purposes of determining compliance with the conditions specified in Sections 3.1 and 3.3, each Lender shall be deemed to be satisfied with each document and each other matter required to be satisfactory to such Lender unless, prior to the Closing Date (or, as the case may be, the corresponding Facility Increase Date), the Administrative Agent receives notice from such Lender specifying such Lender’s objections and such Lender has not made available its Pro Rata Share of any Borrowing scheduled to be made on the Closing Date (or, as the case may be, the corresponding Facility Increase Date).

Appears in 2 contracts

Samples: Credit Agreement (Assisted Living Concepts Inc), Credit Agreement (Assisted Living Concepts Inc)

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Determinations of Initial Borrowing Conditions. For purposes of determining compliance with the conditions specified in Sections 3.1 and 3.3, each Lender shall be deemed to be satisfied with each document and each other matter required to be satisfactory to such Lender unless, prior to the Closing Date (or, as the case may be, the corresponding Facility Facilities Increase Date), the Administrative Agent receives notice from such Lender specifying such Lender’s 's objections and such Lender has not made available its Pro Rata Share of any Borrowing scheduled to be made on the Closing Date (or, as the case may be, the corresponding Facility Facilities Increase Date).

Appears in 1 contract

Samples: Intercreditor Agreement (Inverness Medical Innovations Inc)

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Determinations of Initial Borrowing Conditions. For purposes of determining compliance with the conditions specified in Sections 3.1 and 3.3, each Lender shall be deemed to be satisfied with each document and each other matter required to be satisfactory to such Lender unless, prior to the Closing Date (or, as the case may be, the corresponding Facility Facilities Increase Date), the Administrative Agent receives notice from such Lender specifying such Lender’s objections and such Lender has not made available its Pro Rata Share of any Borrowing scheduled to be made on the Closing Date (or, as the case may be, the corresponding Facility Facilities Increase Date).

Appears in 1 contract

Samples: Credit Agreement (Beacon Roofing Supply Inc)

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