Documents Required for Subsequent Disbursements. As of the time of funding any additional advances to Borrower that have been approved by the Bank pursuant to Section 2.01 and are made in conjunction with the addition of Oil and Gas Properties owned by the Borrower to the Borrowing Base Oil and Gas Properties, the Borrower shall have duly delivered to the Bank: (i) the Security Instruments that are necessary or appropriate, in the reasonable opinion of the Bank, relating to such additional Oil and Properties, and (ii) Transfer Order Letters applicable to the production of oil and gas from the such additional Borrowing Base Oil and Gas Properties.
Documents Required for Subsequent Disbursements. At the time of, and as a condition to, any disbursement of any part of the Loans to be made by the Bank subsequent to the Closing, the Bank may require the Borrower to deliver to the Bank a certificate, dated the date on which any such disbursement is to be made, signed by the president, a vice president, treasurer, chief executive officer, chief financial officer, or other duly authorized officer of the Borrower, or by a vice president, treasurer or other duly authorized officer of the Borrower, and to the effect that:
(A) As of the date thereof, no Event of Default has occurred and is continuing, and no event has occurred and is continuing that, but for the giving of notice or passage of time or both, would be an Event of Default; and
(B) Each of the representations and warranties contained in Section 4.01 is true and correct in all material respects as if made on and as of the date of such disbursement (except for such representations and warranties made as of a particular date).
Documents Required for Subsequent Disbursements. At the time of, and as a condition to, any disbursement of any part of the Loan to be made by the Lender subsequent to the Closing, the Lender may require the Borrowers to deliver to the Lender a certificate, dated the date on which any such disbursement is to be made, signed by the chief financial officer of SpecTran and to the effect that:
(a) As of the date thereof, no Event of Default has occurred and is continuing, and no event has occurred and is continuing that, but for the giving of notice or passage of time or both, would be an Event of Default;
(b) No material adverse change has occurred in the business prospects,financial condition, or results of operations of any Borrower since the date of the most recent Financial Statements delivered to the Lender in accordance with this Agreement; and
Documents Required for Subsequent Disbursements. At the time of, and as a condition to, any disbursement of any part of the Loans to be made by the Lender subsequent to the Closing, the Lender may require the Borrower to deliver to the Lender a certificate, dated the date on which any such disbursement is to be made, signed by the president of the Borrower, and to the effect that:
(a) As of the date thereof, no Event of Default has occurred and is continuing, and no event has occurred and is continuing that, but for the giving of notice or passage of time or both, would be an Event of Default;
(b) No material adverse change has occurred in the business prospects, financial condition, or results of operations of the Borrower since the date of the Financial Statements; and
(c) Each of the representations and warranties contained in Article 5 is true and correct in all respects as if made on and as of the date of such disbursement unless it relates to specific date.
Documents Required for Subsequent Disbursements. As of the time of funding any additional advances to Borrower that are made in conjunction with the addition to the Borrowing Base Properties of Oil and Gas Properties, Cash, Cash Equivalent, and/or Eligible Marketable Securities owned by Borrower or any Guarantor, Borrower or such Guarantor shall have duly delivered to Bank: (i) the Security Instruments that are necessary or appropriate, in the opinion of Bank, relating to such additional Borrowing Base Properties, (ii) Transfer Order Letters applicable to the production of oil and gas from any additional Oil and Gas Properties added to the Borrowing Base Properties, and (iii) possession of any such additional Borrowing Base Cash and Borrowing Base Securities.
Documents Required for Subsequent Disbursements. Prior to any disbursements of Loan proceeds subsequent to the Closing, the Borrower shall have duly delivered to the Bank the following:
(A) Stock share certificates related to the Pledge Agreement and/or documentation as to the subsequent delivery of such certificates acceptable in form and substance to the Bank and its counsel.
(B) A certificate, dated the date on which such disbursement is to be made, signed by any of the authorized officers of the Borrower and to the effect that:
(1) As of the date thereof, no Event of Default has occurred and is continuing, and no event has occurred and is continuing that, with the giving of notice or passage of time or both, would be an Event of Default.
(2) No material adverse change has occurred in the business prospects, financial condition, or results of operations of the Borrower since the date of the then most recent financial information provided to the Bank pursuant to Section 6.01(C), below; and
(3) Each of the representations and warranties contained in Section 5.01 is true and correct in all material respects as if made on the date of such disbursement.
(4) The Borrower shall be in compliance with all terms, conditions and covenants under this Loan Agreement and the Loan Documents.
Documents Required for Subsequent Disbursements. Borrowers and Bank agree that Borrowers will not pledge their Oil and Gas Properties as Borrowing Base Oil and Gas Properties as of Closing. At such time as Borrowers request the implementation of a Borrowing Base attributable to the Borrowing Base Oil and Gas Properties, each condition set forth in Section 3.01 with regard to Borrowing Base Oil and Gas Properties shall be satisfied by Borrowers. As of the time of funding any additional advances to Borrowers that have been approved by the Bank pursuant to Section 2.01 and are made in conjunction with the addition of Oil and Gas Properties owned by a Borrower to the Borrowing Base Oil and Gas Properties, such Borrower shall have duly delivered to the Bank: (i) the Security Instruments that are necessary or appropriate, in the reasonable opinion of the Bank, (ii) Transfer Order Letters applicable to the production of oil and gas from the such additional Borrowing Base Oil and Gas Properties (iii)
Documents Required for Subsequent Disbursements. As of the time of funding any additional advances to Borrower that are made in conjunction with the addition of any new Borrowing Base Properties owned by Borrower, Borrower shall have duly delivered to Bank: (i) the Security Instruments that are necessary or appropriate, in the opinion of Bank, relating to such additional Borrowing Base Properties, and (ii) Transfer Order Letters applicable to the production of oil and gas from any additional Oil and Gas Properties added to the Borrowing Base Properties.
Documents Required for Subsequent Disbursements. At the time of, and as a condition to, any disbursement of any part of the Loan to be made by the Lender subsequent to the Closing, the Lender may require the Borrower to deliver to the Lender a certificate, dated the date on which any such disbursement is to be made, signed by the chief executive officer, the president or a vice president of the Borrower, and to the effect that:
(A) As of the date thereof, no Event of Default has occurred and is continuing, and no event has occurred and is continuing that, but for the giving of notice or passage of time or both, would be an Event of Default;
(B) No material adverse change has occurred in the financial condition or results of operations of the Borrower or any Subsidiary, considered as a whole, since the date of the Financial Statements; and
(C) Each of the representations and warranties contained in Section 5.01 is true and correct in all material respects as if made on and as of the date of such disbursement (except for such representations and warranties made as of a particular date).
Documents Required for Subsequent Disbursements. 18 3.03 General Conditions to all Disbursements....................................................18 3.04
