Common use of Effectiveness Conditions Clause in Contracts

Effectiveness Conditions. This Amendment shall be effective upon the completion of the following conditions precedent (all agreements, documents and instruments to be in form and substance satisfactory to Lender and Lender's counsel): a. Execution and delivery by Company and each Guarantor of this Amendment to Lender; b. Execution and delivery by Company of an amended and restated Promissory Note in the original principal amount of $40,000,000 ("Note"); c. Delivery of an unanimous written consent from Company's member authorizing the execution and delivery of this Amendment, the Note and the transactions contemplated hereunder; and d. Execution and/or delivery of all other agreements, instruments and documents requested by Lender to effectuate and implement the terms hereof and the Existing Loan Documents.

Appears in 1 contract

Sources: Warehousing Credit and Security Agreement (First NLC Financial Services Inc)

Effectiveness Conditions. This Amendment shall be effective upon the completion of the following conditions precedent (all agreements, documents and instruments to be in form and substance satisfactory to Lender and Lender's counsel): a. (a) Execution and delivery by Company and each Guarantor of this Amendment to Lender; b. (b) Execution and delivery by Company of an amended and restated Promissory Note in the original principal amount of $40,000,000 60,000,000 ("Note"); c. (c) Delivery of an unanimous written consent from Company's member authorizing the execution and delivery of this Amendment, the Note and the transactions contemplated hereunder; and d. (d) Execution and/or delivery of all other agreements, instruments and documents requested by Lender to effectuate and implement the terms hereof and the Existing Loan Documents.

Appears in 1 contract

Sources: Warehousing Credit and Security Agreement (First NLC Financial Services Inc)

Effectiveness Conditions. This Amendment shall be effective upon the completion of the following conditions precedent (all agreements, documents and instruments to be in form and substance satisfactory to Lender and Lender's counsel): a. Execution and delivery by Company and each Guarantor of this Amendment to Lender; b. Execution and delivery by Company of an amended and restated Promissory Note in the original principal amount of $40,000,000 35,000,000 ("Note"); c. Delivery of an unanimous written consent from Company's member authorizing the execution and delivery of this Amendment, the Note and the transactions contemplated hereunder; and d. Execution and/or delivery of all other agreements, instruments and documents requested by Lender to effectuate and implement the terms hereof and the Existing Loan Documents.

Appears in 1 contract

Sources: Warehousing Credit and Security Agreement (First NLC Financial Services Inc)

Effectiveness Conditions. This Amendment shall be effective upon the completion of the following conditions precedent (all agreements, documents and instruments to be in form and substance satisfactory to Lender and Lender's ’s counsel): a. (a) Execution and delivery by Company and each Guarantor of this Amendment to Lender; b. Execution and delivery by Company of an amended and restated Promissory Note in the original principal amount of $40,000,000 ("Note"); c. Delivery of an unanimous written consent from Company's member authorizing the execution and delivery Borrowers of this Amendment; (b) Payment by Borrowers to Lender of any and all costs, the Note fees and expenses of Lender (including attorneys’ fee) in connection with this Amendment and the transactions transaction contemplated hereunderhereby; (c) Payment by Borrowers to Lender of the remaining unpaid portion of the Commitment Fee in an amount equal to $20,000; and d. (d) Execution and/or delivery by Borrowers of all other agreements, instruments and documents requested by Lender to effectuate and implement the terms hereof and the Existing Loan Documents.

Appears in 1 contract

Sources: Loan and Security Agreement (Healthessentials Solutions Inc)

Effectiveness Conditions. This Amendment shall be effective upon the completion of the following conditions precedent (all agreements, documents and instruments to be in form and substance satisfactory to Lender and Lender's ’s counsel): a. (a) Execution and delivery by Company and each Guarantor of this Amendment to Lender; b. Execution and delivery by Company of an amended and restated Promissory Note in the original principal amount of $40,000,000 ("Note"); c. Delivery of an unanimous written consent from Company's member authorizing the execution and delivery Borrowers of this Amendment; (b) Payment by Borrowers to Lender of any and all costs, the Note fees and expenses of Lender (including attorneys’ fee) in connection with this Amendment and the transactions transaction contemplated hereunderhereby; (c) Payment by Borrowers to Lender in immediately available funds of non-refundable amendment fee in an amount equal to $2,000; and d. (d) Execution and/or delivery by Borrowers of all other agreements, instruments and documents requested by Lender to effectuate and implement the terms hereof and the Existing Loan Documents.

Appears in 1 contract

Sources: Loan and Security Agreement (Healthessentials Solutions Inc)

Effectiveness Conditions. This Amendment shall be effective upon the completion of the following conditions precedent (all agreements, documents and instruments to be in form and substance satisfactory to Lender and Lender's ’s counsel): a. (a) Execution and delivery by Company and each Guarantor Borrowers of this Amendment to LenderAmendment; b. (b) Execution and delivery by Company Borrowers of an amended Amended and restated Promissory Restated Revolving Credit Note in the original principal amount of $40,000,000 11,500,000 ("the “Note"); c. (c) Delivery by Borrowers of an unanimous written consent from Company's member certified copies of resolutions of each Borrower’s board of directors, general partners, members or managers, as applicable, authorizing the execution and delivery of this Amendment, the Note and each document required to be delivered by any Section hereof; (d) Payment by Borrowers to Lender of a $10,000 non-refundable amendment fee in immediately available funds, which fee is fully earned as of the transactions contemplated hereundereffectiveness of this Amendment; and d. (e) Execution and/or delivery by Borrowers of all other agreements, instruments and documents requested by Lender to effectuate and implement the terms hereof and the Existing Loan Documents.

Appears in 1 contract

Sources: Loan and Security Agreement (Healthessentials Solutions Inc)