Common use of First Borrowing by Each Borrowing Subsidiary Clause in Contracts

First Borrowing by Each Borrowing Subsidiary. On the first date on which Loans are made to each Borrowing Subsidiary: (a) The Administrative Agent shall have received the favorable written opinion of Murray Gross, Esq., dated the date of such Loanx, xxxxxxxxx to the Lenders and satisfactory to Cravath, Swaine & Moore, counsel for the Administrative Agent, to xxx effect set forth in Exhibit D-2 hereto. (b) Each Lender shall have received a copy of the Borrowing Subsidiary Agreement executed by such Borrowing Subsidiary. (c) Such Loans shall not violate any law, rule or regulation binding on any of the Lenders. (d) Each Lender shall have received from the Company an unaudited consolidated balance sheet and related consolidated statements of earnings and changes in financial position for the fiscal year most recently ended of such Borrowing Subsidiary.

First Borrowing by Each Borrowing Subsidiary. On the first date on which Loans are made to each Borrowing Subsidiary: (a) The Administrative Agent shall have received the favorable written opinion of Murray GrossTerrxxxx X. Xxxxxxx, EsqXxq., dated the date of such LoanxLoans, xxxxxxxxx addressed to the Lenders and satisfactory to Cravath, Swaine & MooreMoorx, counsel xxunsel for the Administrative Agent, to xxx the effect set forth in Exhibit D-2 hereto. (b) Each Lender shall have received a copy of the Borrowing Subsidiary Agreement executed by such Borrowing Subsidiary. (c) Such Loans shall not violate any law, rule or regulation binding on any of the Lenders. (d) Each Lender shall have received from the Company an unaudited consolidated balance sheet and related consolidated statements of earnings and changes in financial position for the fiscal year most recently ended of such Borrowing Subsidiary.

First Borrowing by Each Borrowing Subsidiary. On the first date on which Loans are made to each Borrowing Subsidiary: (a) The Administrative Agent shall have received the favorable written opinion of Murray GrossMurrxx Xxxxx, EsqXxq., dated the date of such LoanxLoans, xxxxxxxxx addressed to the Lenders and satisfactory to Cravath, Swaine & MooreMoorx, counsel for the Administrative Agent, to xxx the effect set forth in Exhibit D-2 hereto. (b) Each Lender shall have received a copy of the Borrowing Subsidiary Agreement executed by such Borrowing Subsidiary. (c) Such Loans shall not violate any law, rule or regulation binding on any of the Lenders. (d) Each Lender shall have received from the Company an unaudited consolidated balance sheet and related consolidated statements of earnings and changes in financial position for the fiscal year most recently ended of such Borrowing Subsidiary.

First Borrowing by Each Borrowing Subsidiary. On the first date on which Loans are made to each Borrowing Subsidiary: (a) The Administrative Agent shall have received the favorable written opinion of Murray GrossMurrxx Xxxxx, EsqXxq., dated the date of such LoanxLoans, xxxxxxxxx addressed to the Lenders and satisfactory to Cravath, Swaine & MooreMoorx, counsel xxunsel for the Administrative Agent, to xxx the effect set forth in Exhibit D-2 hereto. (b) Each Lender shall have received a copy of the Borrowing Subsidiary Agreement executed by such Borrowing Subsidiary. (c) Such Loans shall not violate any law, rule or regulation binding on any of the Lenders. (d) Each Lender shall have received from the Company an unaudited consolidated balance sheet and related consolidated statements of earnings and changes in financial position for the fiscal year most recently ended of such Borrowing Subsidiary.