INITIAL ADVANCE UNDER THE CREDIT Sample Clauses

INITIAL ADVANCE UNDER THE CREDIT. The obligation of the Lenders to make an initial Advance under the Credit is conditional upon the fulfillment of each of the conditions set out in this Section 10.1 and in Section 10.2: 10.1.1 certified copies of all the constating documents, by-laws and resolutions of the Borrower and the Restricted Subsidiaries shall have been provided to the Agent; 10.1.2 the Borrower shall have provided an irrevocable direction of payment to the Agent pursuant to which the Borrower instructs the Agent, contemporaneously with the first Advance hereunder and using the proceeds thereof, to repay all amounts due under the Existing Credit Agreement and the Existing Credit Agreement shall have been canceled; 10.1.3 all Charges on the property of the Borrower and the Restricted Subsidiaries, other than Permitted Charges, shall have been discharged; 10.1.4 each of this Agreement and the Guarantees shall have been executed and delivered to the Agent; 10.1.5 the Lenders shall have received the Quarterly Financials for the quarter ended June 30, 2002; 10.1.6 the Agent shall have received search reports prepared or obtained by the counsel of the Borrower for all jurisdictions where the Borrower and the Restricted Subsidiaries have material assets (but excluding accounts receivable) or places of business; 10.1.7 the Borrower shall have delivered to the Agent a certificate in the form of Schedule "E" signed by an officer stipulating and certifying that: (a) such officer has taken cognizance of all the terms and conditions of this Agreement, the Guarantees and of all contracts, agreements and deeds pertaining hereto; (b) to the best of its knowledge, after due enquiry, no Default or Event of Default has occurred or exists hereunder; (c) the Borrower and the Restricted Subsidiaries have all necessary governmental, regulatory and other approvals in order to enter into and perform their obligations hereunder and under the Guarantees; (d) the corporate structure of the Borrower is as set out in the diagram attached to the certificate; and (e) each of the Borrower and the Restricted Subsidiaries holds the material permits, licenses and authorizations required in order to permit it to possess its property and its real estate and to carry on its business in the manner in which it is being carried on at present, and is in material compliance with all Laws, including Environmental Laws; 10.1.8 there shall have been delivered to the Agent certificates of the chief financial officer of the Borr...
Sample 1
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Related to INITIAL ADVANCE UNDER THE CREDIT

  • Payments to the Liquidity Provider Under the Intercreditor Agreement In order to provide for payment or repayment to the Liquidity Provider of any amounts hereunder, the Intercreditor Agreement provides that amounts available and referred to in Articles II and III of the Intercreditor Agreement, to the extent payable to the Liquidity Provider pursuant to the terms of the Intercreditor Agreement (including, without limitation, Section 3.6(f) of the Intercreditor Agreement), shall be paid to the Liquidity Provider in accordance with the terms thereof. Amounts so paid to the Liquidity Provider shall be applied by the Liquidity Provider to Liquidity Obligations then due and payable in accordance with the Intercreditor Agreement or, if not provided for in the Intercreditor Agreement, then in such manner as the Liquidity Provider shall deem appropriate.

  • Continuing Security Interest; Assignments under the Credit Agreement This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Secured Obligations, (ii) the Termination Date and (iii) the termination or expiration of all Letters of Credit and all Secured Hedge Agreements, (b) be binding upon each Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the Administrative Agent hereunder, to the benefit of the Secured Parties and their respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), any Lender Party may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its Commitments, the Advances owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender Party herein or otherwise, in each case as provided in Section 8.07 of the Credit Agreement.

  • Amendments to the Loan Agreement The Loan Agreement is hereby amended as follows:

  • Continuing Guaranty; Assignments under the Credit Agreement This Guaranty is a continuing guaranty and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Guaranteed Obligations and all other amounts payable under this Guaranty, (ii) the Maturity Date and (iii) the latest date of expiration, termination or Cash Collateralization or provision of Credit Support therefor of all Letters of Credit and the expiration or termination of all Secured Hedge Agreements, (b) be binding upon each Guarantor, its successors and assigns and (c) inure to the benefit of and be enforceable by the Secured Parties and their successors, transferees and assigns. Without limiting the generality of clause (c) of the immediately preceding sentence, any Secured Party may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its Commitments, the Loans owing to it and the Note or Notes held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Secured Party herein or otherwise, in each case as and to the extent provided in Section 10.07 of the Credit Agreement. Subject to Section 7.04 of the Credit Agreement, no Guarantor shall have the right to assign its rights hereunder or any interest herein without the prior written consent of the Secured Parties.

  • Amendments to the Credit Agreement (a) Section 1.01 of the Credit Agreement, Definitions, is hereby amended by adding the following definitions in the appropriate alphabetical order:

  • Amendments to Original Credit Agreement On the Effective Date, the Original Credit Agreement shall be amended as follows: (a) Section 1.02 of the Original Credit Agreement shall be amended by adding the following definitions in appropriate alphabetical order:

  • Authorization of Receipt of Funds by the Trustee Under the Security Documents Subject to the provisions of the Intercreditor Agreement, the Trustee is authorized to receive any funds for the benefit of the Holders distributed under the Security Documents, and to make further distributions of such funds to the Holders according to the provisions of this Indenture.

  • Modifications to Loan Agreement 1. The Loan Agreement shall be amended by deleting the following definition appearing in Section 13.1 thereof:

  • FUNDS AVAILABLE UNDER THE CONTRACTS ALL SERIES I SHARES AND SERIES II SHARES OF AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

  • Amendments to Loan Agreement The Loan Agreement is hereby amended as follows:

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