Documents, fees and no default. Each Lender’s obligation to contribute to the Loan is subject to the following conditions precedent: (a) that, on or before the service of the Drawdown Notice, the Agent receives the documents described in Part A of Schedule 3 in form and substance satisfactory to the Agent and its lawyers; (b) that, on the Drawdown Date but prior to the advance of the Loan, the Agent receives or is satisfied that it will receive on the advance of the Loan the documents described in Part B of Schedule 3 in form and substance satisfactory to it and its lawyers; (c) that both at the date of the Drawdown Notice and at the Drawdown Date: (i) no Event of Default or Potential Event of Default has occurred or would result from the borrowing of the Loan; (ii) the representations and warranties in Clause 10 and those of the Borrower or any Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; and (iii) none of the circumstances contemplated by Clause 5.6 has occurred and is continuing; (d) that, if the ratio set out in Clause 15.1 were applied immediately following the making of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause.
Appears in 2 contracts
Samples: Loan Agreement (Britannia Bulk Holdings Inc), Loan Agreement (Britannia Bulk PLC)
Documents, fees and no default. Each The Lender’s obligation to contribute to the Loan make an Advance is subject to the following conditions precedent:
(a) that, on or before the service of the first Drawdown Notice, the Agent Lender receives the documents described in Part A of Schedule 3 2 in form and substance satisfactory to the Agent it and its lawyers;
(b) that, on the each Drawdown Date but prior to the advance making of the Loanrelevant Advance, the Agent Lender receives or is satisfied that it will receive on the advance of the Loan the documents described in Part B of Schedule 3 2 in form and substance satisfactory to it and its lawyers;
(c) that both at the date of the each Drawdown Notice and at the each Drawdown Date:
(i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the LoanAdvance;
(ii) the representations and warranties in Clause 10 9.1 and those of the Borrower or any Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; and
(iii) none of the circumstances contemplated by Clause 5.6 4.4 has occurred and is continuing;
(d) thatthat the Lender has received, if and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the ratio set out in Clause 15.1 were applied immediately following Finance Documents which the making of the Loan, Lender may request by notice to the Borrower would not be obliged prior to provide additional security or prepay part of the Loan under that Clauserelevant Drawdown Date.
Appears in 1 contract
Samples: Loan Agreement (DryShips Inc.)
Documents, fees and no default. Each Lender’s obligation to contribute to the Loan a Tranche is subject to the following conditions precedent:
(a) that, on or before the service of the first Drawdown Notice, the Agent receives the documents described in Part A of Schedule 3 in form and substance satisfactory to the Agent and its lawyers;
(b) that, on the Drawdown Date but prior to the advance making of any Tranche to be advanced on the LoanDrawdown Date, the Agent receives or is satisfied that it will receive on the advance making of the Loan such Tranche the documents described in Part B of Schedule 3 in form and substance satisfactory to it and its lawyers;
(c) that both at the date of the each Drawdown Notice and at the Drawdown Date:
(i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the Loanrelevant Tranche (excluding, for the Refinancing Period up until the Refinancing Date, any Events of Default having occurred and being continuing in connection with and under the Existing Facility Agreement);
(ii) the representations and warranties in Clause 10 and those of the any Borrower or any Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; and
(iii) none of the circumstances contemplated by Clause 5.6 Xxxxxx 5.7 has occurred and is continuing;; and
(div) that, if the ratio set out in Clause 15.1 were applied immediately following the making of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause.there has been no Material Adverse Change; and
Appears in 1 contract
Samples: Amending and Restating Deed (Global Ship Lease, Inc.)
Documents, fees and no default. Each Lender’s 's obligation to contribute to the Loan is subject to the following conditions precedent:
(a) that, on or before the date of signing of this Agreement and service of the Drawdown Notice, the Agent receives the documents described in Part A of Schedule 3 4 in form and substance satisfactory to the Agent and its lawyers;
(b) that, on or before the service of the Drawdown Date but prior to the advance of the LoanNotice, the Agent receives or is satisfied that it will receive on the advance fees payable pursuant to Clause 20.1 and has received payment of the Loan the documents described expenses referred to in Part B of Schedule 3 in form and substance satisfactory to it and its lawyersClause 20.2;
(c) that both at the date of the Drawdown Notice and at the Drawdown Date:
(i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the Loan;
(ii) the representations and warranties in Clause 10 and those of the Borrower or any Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; and;
(iii) none of the circumstances contemplated by Clause 5.6 Xxxxxx 5.7 has occurred and is continuing;
(d) that, if the ratio set out in Clause 15.1 were applied immediately following the making advance of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause; and
(e) that the Agent has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Agent may, with the authorisation of the Majority Lenders, request by notice to the Borrower prior to the Drawdown Date.
Appears in 1 contract
Documents, fees and no default. Each The Lender’s 's obligation to contribute to make the Loan Commitment or any part thereof available is subject to the following conditions precedent:
(a) that, on or before the service of the Drawdown Notice, the Agent Lender receives the documents described in Part A of Schedule 3 2 in form and substance satisfactory to the Agent Lender and its lawyers;
(b) that, on the Drawdown Date but prior to the advance making of the LoanAdvance, the Agent receives or is satisfied that it will receive on the advance of the Loan Lender receives;
(i) the documents described in Part B of Schedule 3 2 (Condition Precedent Documents) in form and substance satisfactory to it the Lender and its lawyers; (ii) payment of any expenses payable pursuant to Clause 20.2 (Costs of negotiation, preparation etc.) which are due and payable on the Drawdown Date to which that Drawdown Notice relates;
(c) that both at the date of the Drawdown Notice and at the Drawdown Date:
(i) no Event of Default or Potential Event of Default has occurred or would result from the borrowing of the Loan;
(ii) the representations and warranties in Clause 10 (General) and those of the either Borrower or any Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; and
(iii) none of the circumstances contemplated by Clause 5.6 has occurred and is continuing;
(d) that, if the ratio set out in Clause 15.1 were applied immediately following the making of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause.
Appears in 1 contract
Documents, fees and no default. Each Lender’s 's obligation to contribute to the Loan an Advance is subject to the following conditions precedent:
(a) that, on or before the date of signing of this Agreement and service of the first Drawdown Notice, the Agent receives the documents described in Part A of Schedule 3 4 in form and substance satisfactory to the Agent and its lawyers;
(b) that, on or before the Drawdown Date but prior to the advance service of the Loanfirst Drawdown Notice, the Agent receives or is satisfied that it will receive on the advance fees payable pursuant to Clause 20.1 and has received payment of the Loan the documents described expenses referred to in Part B of Schedule 3 in form and substance satisfactory to it and its lawyersClause 20.2;
(c) that both at the date of the each Drawdown Notice and at the each Drawdown Date:
(i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the Loan;
(ii) the representations and warranties in Clause 10 and those of the Borrower or any Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; and;
(iii) none of the circumstances contemplated by Clause 5.6 Cxxxxx 5.7 has occurred and is continuing;
(d) that, if the ratio set out in Clause 15.1 were applied immediately following the making of the LoanAdvance, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause; and
(e) that the Agent has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Agent may, with the authorisation of the Majority Lenders, request by notice to the Borrower prior to the Drawdown Date.
Appears in 1 contract
Documents, fees and no default. Each The Lender’s obligation to contribute to make the Loan Commitment or any part thereof available is subject to the following conditions precedent:
(a) that, on or before the service of the Drawdown Notice, the Agent Lender receives the documents described in Part A of Schedule 3 2 in form and substance satisfactory to the Agent Lender and its lawyers;
(b) that, on the Drawdown Date but prior to the advance making of the LoanAdvance, the Agent receives or is satisfied that it will receive on the advance of the Loan Lender receives;
(i) the documents described in Part B of Schedule 3 2 (Condition Precedent Documents) in form and substance satisfactory to it the Lender and its lawyers; (ii) payment of any expenses payable pursuant to Clause 20.2 (Costs of negotiation, preparation etc.) which are due and payable on the Drawdown Date to which that Drawdown Notice relates;
(c) that both at the date of the Drawdown Notice and at the Drawdown Date:
(i) no Event of Default or Potential Event of Default has occurred or would result from the borrowing of the Loan;
(ii) the representations and warranties in Clause 10 (General) and those of the either Borrower or any Security Party which are set out in the other Finance Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing; and
(iii) none of the circumstances contemplated by Clause 5.6 has occurred and is continuing;
(d) that, if the ratio set out in Clause 15.1 were applied immediately following the making of the Loan, the Borrower would not be obliged to provide additional security or prepay part of the Loan under that Clause.
Appears in 1 contract
Samples: Loan Agreement (Toro Corp.)