Financing Assumption Condition Sample Clauses

Financing Assumption Condition. The BRI Partnership and the Transferor Partnership shall use reasonable efforts to obtain the consent of Lender to the contribution of the Transferor Partnership Interests to the BRI Partnership by the Transferor Partners, to the transfer of ownership of the Transferor Partnership to the BRI Partnership and to obtain the Lender Estoppel Letter. The Transferor Partnership, with the BRI Partnership's cooperation, shall immediately commence to obtain the consent of Lender necessary to permit the contribution of the Transferor Partnership Interests to the BRI Partnership and the transfer of ownership of the Transferor Partnership to the BRI Partnership. The BRI Partnership shall supply any and all documentation and additional information required by Lender in order to promptly complete the request for the consent of Lender to the transactions contemplated hereunder. The Transferor Partnership shall request that Lender state in writing any terms and requirements, including the amount of any Loan Assumption Fees, to be imposed by Lender in connection with its consent to the transactions contemplated hereby. It shall be a condition of Closing that prior to October 15, 1997, Lender shall have granted its consent to the transactions contemplated hereunder on terms and requirements reasonably satisfactory to the BRI Partnership, shall have issued the Lender Estoppel Letter and shall have agreed to release the Transferor Partners from all liability under the Loan Documents. In the event that any of the terms or requirements required by Lender for its consent are not approved by the BRI Partnership, the BRI Partnership may terminate this Agreement by written notice given to the Transferor Partners within fifteen (15) business days after the BRI Partnership have received in writing the terms and requirements of Lender for its consent. In the event either (a) the consent of Lender is not obtained prior to the Closing or (b) the BRI Partnership does not approve the terms and conditions of Lender, including the amount of any Loan Assumption Fees in excess of 1% of the unpaid principal balance, and the BRI Partnership gives timely notice of termination hereunder to the Transferor Agent, this Agreement shall terminate without further action by any party, and, thereafter this Agreement shall be void and without recourse to all parties, except for provisions which are expressly stated to survive termination of this Agreement. In the event the Lender shall not have agreed to r...
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Related to Financing Assumption Condition

  • Conditions Precedent to Initial Extension of Credit The obligation of each Lender to make an Advance or of any Issuing Bank to issue a Letter of Credit on the occasion of the Initial Extension of Credit hereunder is subject to the satisfaction of the following conditions precedent before or concurrently with the Initial Extension of Credit:

  • Additional Conditions to Swingline Loans If a Swingline Loan is requested, all conditions set forth in Section 2.4 shall have been satisfied.

  • Conditions Precedent to Initial Borrowing The initial Borrowing under this Agreement is subject to the satisfaction of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative Agent.

  • Conditions to Initial Borrowing The obligation of each Lender to extend credit to the Borrower and of each Issuing Bank to issue Letters of Credit hereunder on the Closing Date is subject only to the satisfaction, or waiver in accordance with Section 11.01, of each of the following conditions precedent, except as otherwise agreed between the Borrower and the Required Lenders:

  • Conditions Precedent to the Effectiveness of this Amendment This Amendment shall become effective as of the date first written above when, and only when, each of the following conditions precedent shall have been satisfied or waived (the “Amendment No. 1 Effective Date”) by the Administrative Agent:

  • Conditions Precedent to Each Extension of Credit Before any extension of credit governed by this agreement, whether by disbursement of a loan, issuance of a letter of credit or otherwise, the following conditions must be satisfied:

  • Conditions to Initial Extension of Credit The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent:

  • CONDITIONS OF INITIAL EXTENSION OF CREDIT The obligation of Bank to extend any credit contemplated by this Agreement is subject to the fulfillment to Bank's satisfaction of all of the following conditions:

  • Additional Conditions to Revolving Loans If a Revolving Loan is requested, all conditions set forth in Section 2.1 shall have been satisfied.

  • Conditions of Initial Borrowing The obligation of each Lender to make its initial Borrowing hereunder is subject to satisfaction of the following conditions precedent:

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