Documents, fees and no default. The Issuer’s obligation to issue any Guarantee is subject to the following conditions precedent: (a) that, on or before the service of the first Guarantee Issue Request, the Issuer receives the documents described in Part A of Schedule 2 in form and substance satisfactory to it; (b) that, on or before a Guarantee Issue Date but prior to the issue of a Guarantee, the Issuer receives the documents described in Part B of Schedule 2 in a form satisfactory to it; (c) that, on or before each Guarantee Issue Date, the Issuer has received all arrangement and commitment fees payable pursuant to Clause 18.1; (d) that both at the date of each Guarantee Issue Request and at each Guarantee Issue Date: (i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the issue of the Guarantee; and (ii) the representations and warranties in Clause 8.1 and those of the Obligors 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; (e) that the Issuer has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Issuer may reasonably request by notice to the Obligors prior to the Guarantee Issue Date.
Appears in 3 contracts
Samples: Guarantee Facility Agreement (TBS International PLC), Guarantee Facility Agreement (TBS International LTD), Guarantee Facility Agreement (TBS International LTD)
Documents, fees and no default. The IssuerLender’s obligation to issue any Guarantee make a Utilisation is subject to the following conditions precedent:
(a) that, on or before the service of the first Guarantee Issue RequestUtilisation Notice, the Issuer Lender receives the documents described in Part A of Schedule 2 in form and substance satisfactory to itit and its lawyers;
(b) that, on or before a Guarantee Issue Date but prior to the issue service of a Guaranteethe first Utilisation Notice, the Issuer Lender receives the documents described arrangement fee referred to in Part B Clause 16.1(a), all accrued commitment fees payable pursuant to Clause 16.1(b) and has received payment of Schedule 2 the expenses referred to in a form satisfactory to itClause 16.2 if they have, prior thereto, been demanded;
(c) that, on or before the Facility Reset Date immediately preceding each Guarantee Issue DateUtilisation Notice, the Issuer has Lender received a Schedule of Receivables together with all arrangement and commitment fees payable pursuant other documentation required to be provided under Clause 18.13.1 complying in all respects with Clause 3.1;
(d) that both at the date of each Guarantee Issue Request Utilisation Notice and at each Guarantee Issue Utilisation Date:
(i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the Advance or the issue of the Guarantee; andL/C;
(ii) the representations and warranties in Clause 8.1 12.1 and those of the Obligors or any Security Party which are set out (if any) in the other Finance Security Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing;
(e) that the Issuer Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with this Agreement or the Finance Security Documents which the Issuer Lender may reasonably request by notice to the Obligors Borrower prior to the Guarantee Issue relevant Utilisation Date.
Appears in 1 contract
Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.)
Documents, fees and no default. The IssuerLender’s obligation to issue any Guarantee make a Utilisation is subject to the following conditions precedent:
(a) that, on or before the service of the first Guarantee Issue RequestUtilisation Notice, the Issuer Lender receives the documents described in Part A of Schedule 2 in form and substance satisfactory to itit and its lawyers;
(b) that, on or before a Guarantee Issue Date but prior to the issue service of a Guaranteethe first Utilisation Notice, the Issuer Lender receives the documents described arrangement fee referred to in Part B Clause 18.1(a), all accrued commitment fees payable pursuant to Clause 18.1(d) and has received payment of Schedule 2 the expenses referred to in a form satisfactory to itClause 18.2 if they have, prior thereto, been demanded;
(c) that, on or before the Facility Reset Date immediately preceding each Guarantee Issue DateUtilisation Notice, the Issuer has Lender received a Schedule of Receivables together with all arrangement and commitment fees payable pursuant other documentation required to be provided under Clause 18.13.1 complying in all respects with Clause 3.1;
(d) that both at the date of each Guarantee Issue Request Utilisation Notice and at each Guarantee Issue Utilisation Date:
(i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the borrowing of the Advance or the issue of the Guarantee; andL/C;
(ii) the representations and warranties in Clause 8.1 14.1 and those of the Obligors or any Security Party which are set out (if any) in the other Finance Security Documents would be true and not misleading if repeated on each of those dates with reference to the circumstances then existing;
(e) that the Issuer Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with this Agreement or the Finance Security Documents which the Issuer Lender may reasonably request by notice to the Obligors Borrower prior to the Guarantee Issue relevant Utilisation Date.
Appears in 1 contract
Samples: Amendment Agreement (Aegean Marine Petroleum Network Inc.)
Documents, fees and no default. The IssuerLender’s obligation to issue any Guarantee make the Loan is subject to the following conditions precedent:
(a) that, on or before the service of the first Guarantee Issue RequestDrawdown Notice, the Issuer Lender receives the documents described in Part A of Schedule 2 in form and substance satisfactory to itit and its lawyers;
(b) that, on or before a Guarantee Issue the Drawdown Date but prior to the issue making of a Guaranteethe Loan, the Issuer Lender receives the documents described in Part B of Schedule 2 in a form and substance satisfactory to itit and its lawyers;
(c) that, on or before each Guarantee Issue prior to the Drawdown Date, the Issuer Lender has received all payment in full of the arrangement and commitment fees payable pursuant fee referred to in Clause 18.119.1;
(d) that both at the date of each Guarantee Issue Request the Drawdown Notice and at each Guarantee Issue the Drawdown Date:
(i) no Event of Default or Potential Event of Default has occurred and is continuing or would result from the issue borrowing of the Guarantee; andLoan;
(ii) the representations and warranties in Clause 8.1 9 and those of the Obligors 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 4.4 has occurred and is continuing;
(e) that, if the ratio set out in Clause 14.1 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; and
(f) that the Issuer Lender has received, and found to be acceptable to it, any further opinions, consents, agreements and documents in connection with the Finance Documents which the Issuer Lender may reasonably request by notice to the Obligors Borrower prior to the Guarantee Issue Drawdown Date.
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