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

Initial Borrowing by Each Borrowing Subsidiary. (a) The obligation of each Lender to make a Loan on the occasion of the first Borrowing by each Borrowing Subsidiary is subject to the satisfaction of the condition that CBNA (or its counsel) shall have received (i) a Borrowing Subsidiary Agreement properly executed by such Borrowing Subsidiary and the Company., (ii) a favorable written opinion (addressed to the Administrative Agents and the Lenders) of counsel to such Borrowing Subsidiary in form and substance reasonably acceptable to the Administrative Agents and (iii) to the extent such Borrowing Subsidiary qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, such Borrowing Subsidiary shall have delivered, to each Lender that so requests, a Beneficial Ownership Certification in relation to such Borrowing Subsidiary.

Initial Borrowing by Each Borrowing Subsidiary. (a) The obligation of each Lender to make a Loan on the occasion of the first Borrowing by each Borrowing Subsidiary is subject to the satisfaction of the condition that CBNA the Administrative Agent (or its counsel) shall have received (ia) a Borrowing Subsidiary Agreement properly executed by such Borrowing Subsidiary and the Company., (iib) a favorable written opinion (addressed to the Administrative Agents Agent and the Lenders) of counsel to such Borrowing Subsidiary in form and substance reasonably acceptable to the Administrative Agents Agent and (iiic) to the extent such Borrowing Subsidiary qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, such Borrowing Subsidiary shall have delivered, to each Lender that so requests, a Beneficial Ownership Certification in relation to such Borrowing Subsidiary.

Initial Borrowing by Each Borrowing Subsidiary. (a) The obligation of each Lender to make a Loan on the occasion of the first Borrowing by each Borrowing Subsidiary is subject to the satisfaction of the condition that CBNA the Paying Agent (or its counsel) shall have received (ia) a Borrowing Subsidiary Agreement properly executed by such Borrowing Subsidiary and the Company., (iib) a favorable written opinion (addressed to the Administrative Agents and the Lenders) of counsel to such Borrowing Subsidiary in form and substance reasonably acceptable to the Administrative Agents and (iiic) to the extent such Borrowing Subsidiary qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, such Borrowing Subsidiary shall have delivered, to each Lender that so requests, a Beneficial Ownership Certification in relation to such Borrowing Subsidiary.