Initial Advance on Loans Sample Clauses

Initial Advance on Loans. Before or concurrently with the initial Borrowing by the Borrower on the Loans:
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Initial Advance on Loans. Before or concurrently with the initial Borrowing by the Borrower on the Loans: (ab)The Agent shall have received duly executed copies of each Loan Document; (ac)The Agent shall have received copies (executed or certified as may be appropriate) of all resolutions, consent actions, legal documents or proceedings taken by the Borrower in connection with the execution and delivery of this Agreement, the Notes, and the other Loan Documents to the extent the Agent may reasonably request; (ad)The Agent shall have received copies of the Borrower's Articles of Organization and Operating Agreement, and any amendments thereto, certified in each instance by its Secretary or Assistant Secretary or equivalent and a Certificate of Good Standing from the North Dakota Secretary of State; (ae)The Agent shall have received copies of resolutions of the Borrower's Board of Directors or equivalent authorizing the execution and delivery of the Loan Documents to which it is a party and the consummation of the transactions contemplated thereby together with specimen signatures of the persons authorized to execute such documents on Borrower's behalf, all certified in each instance by its Secretary or Assistant Secretary or equivalent; (af)The Agent shall have received evidence satisfactory to the Agent that the Liens granted by the Mortgage, Security Agreement and the Control Agreements create perfected first priority security interests; (ag)The Agent shall have received a duly executed Borrowing Base Certificate dated as of the Business Day preceding the Closing Date; (ah)All legal matters incident to the execution and delivery of the Loan Documents shall be satisfactory to the Agent and its counsel; (h) The Agent shall have received the favorable written opinion of legal counsel to the Borrower with respect to the transactions described herein, in form and substance acceptable to the Agent; (i) The Agent has received all fees and other amounts due and payable on or prior to the Closing Date, including the Origination Fee and amounts for reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower pursuant to this Agreement, under any other Loan Document, or any other agreement with Lenders; (j) The Agent has received copies of favorable UCC, tax, judgment, bankruptcy and fixture lien search reports (or other evidence of the same satisfactory to the Agent) in all necessary or appropriate jurisdictions and under all legal and trade names...
Sample 1

Related to Initial Advance on Loans

  • Initial Advances The obligation of each Lender to make the initial Advance to be made by it or of the Administrative Agent to issue the initial Letters of Credit is subject to the following conditions precedent, each of which shall be satisfied prior to the making of the initial Advances (unless all of the Lenders, in their sole and absolute discretion, shall agree otherwise):

  • Initial Advance On or prior to the Closing Date, Borrower shall have delivered to Agent the following:

  • Additional Advances The Parties hereby agree that during the period from May 1, 2011 through July 31, 2011, the Payee has made additional advances to the Maker, in the aggregate amount of $15,940, in payment of the Maker’s operating expenses during that period, so that effective as of July 31, 2011, the total outstanding principal amount due and payable pursuant to the Note is $226,973.

  • Conditions Precedent to Initial Advances The obligation of each Bank to make its initial Advance on or after the Closing Date is subject to the conditions precedent that (i) all principal, accrued interest, fees, expenses, costs and other amounts outstanding under the terms of each of the Prior Agreements, accrued to the Closing Date, shall have been paid, and the commitments of the lenders thereunder to extend credit shall have terminated, (ii) the Agent shall have received, for the benefit of the Banks, the one time upfront fees due and payable on the Closing Date pursuant to the Joint Fee Letter and (iii) the Agent shall have received on or before the day of the initial Borrowing the following, each dated the Closing Date, in form and substance satisfactory to the Agent and in sufficient copies for each Bank:

  • Conditions to Initial Advances The agreement of Lenders to make the initial Advances requested to be made on the Closing Date is subject to the satisfaction, or waiver by Agent, immediately prior to or concurrently with the making of such Advances, of the following conditions precedent:

  • Subsequent Advances The obligation of TEXTRON to make any advance shall be subject to the further conditions precedent that, on and as of the date of such advance: (i) the representations and warranties of Borrower set forth in this Agreement shall be accurate, before and after giving effect to such advance or issuance and to the application of any proceeds thereof; (ii) no Event of Default and no event which, with notice or passage of time or both, would constitute an Event of Default has occurred and is continuing, or would result from such advance or issuance or from the application of any proceeds thereof; (iii) no material adverse change has occurred in the Borrower's business, operations, financial condition, or assets or in the prospect of repayment of the Obligations; and (iv) TEXTRON shall have received such other approvals, opinions or documents as TEXTRON shall reasonably request.

  • Conditions Precedent to Initial Advance The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following:

  • Conditions to Initial Advance Lender shall have no obligation to make the Initial Advance of funds to Borrower unless and until Contractor has furnished Borrower and Lender the Bond permitted by this Contract, and the following conditions have been satisfied:

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