Initial Borrowings. The obligation of any Lender to make its initial Loan on the occasion of the initial Borrowing is subject to the satisfaction of the conditions set forth in Section 3.1 and the following conditions (provided, however, that in the event the Lender makes its initial Loan, such conditions will be deemed to be satisfied or waived, as applicable):
(a) [Reserved].
(b) The Agents shall have received evidence satisfactory to the Administrative Agent and the Lenders that (w) the grant of security pursuant to the Granting Clause herein of all of the Borrower’s right, title and interest in and to the Collateral pledged to the Collateral Agent on the Closing Date shall be effective in all relevant jurisdictions, (x) delivery of such Collateral in accordance with Section 8.7 to the Custodian or the Document Custodian, as applicable, shall have been effected, (y) the Borrower (or the Services Provider on behalf of the Borrower) will deliver copies of all Related Contracts for such Collateral in its possession to the Document Custodian in accordance with Sections 5.26 and 14.1(b) and (z) all other actions, recordings and filings that the Administrative Agent may deem necessary or desirable in order to perfect the Liens created by the Granting Clause have been taken.
(c) The Agents shall have received a certificate of an Authorized Officer of the Services Provider (which certificate shall include a schedule listing the Collateral Loans owned by the Borrower on the Initial Borrowing Date), to the effect that, (1) in the case of each item of Collateral pledged to the Collateral Agent, on the Initial Borrowing Date and immediately prior to the delivery thereof on or prior to the Initial Borrowing Date, (A)(w) the Borrower is the owner of such Collateral free and clear of any liens, claims or encumbrances of any nature whatsoever except for Permitted Liens and those which have been released on or prior to the Initial Borrowing Date; (x) the Borrower has acquired its ownership in such Collateral in good faith without notice of any adverse claim, except as described in clause (w) above; (y) the Borrower has not assigned, pledged or otherwise encumbered any interest in such Collateral (or, if any such interest has been assigned, pledged or otherwise encumbered, it has been released) other than pursuant to this Agreement; and (z) the Borrower has full right to grant a security interest in and assign and pledge such Collateral to the Collateral Agent; and (B) upon the Grant by the...
Initial Borrowings. The initial Borrowings hereunder shall be ------------------ made on the Closing Date and shall be made on notice received by the Administrative Agent from the Borrower (pursuant to a Notice of Borrowing) not later than 9:00 a.m. (Los Angeles, California time) (or such later time as the Administrative Agent may agree) on the Business Day immediately preceding the Closing Date. Such Notice of Borrowing shall be irrevocable upon receipt by the Administrative Agent. Upon receipt of such notice, the Administrative Agent shall promptly give notice to each Lender (but in no event later than 10:30 a.m. Los Angeles, California time on the Closing Date). Each Lender shall, before 11:30 a.m. (Los Angeles, California time) on the Closing Date, make available for the account of its Applicable Lending Office to the Administrative Agent such Lender's ratable share of such Borrowings by depositing same day funds in the Administrative Agent's Account. Notwithstanding any contrary provision hereof, the initial Borrowings may consist only of Base Rate Advances.
Initial Borrowings. The initial Borrowings hereunder shall be made on the Closing Date and shall be made on notice received by the Agent from the Borrower (pursuant to a Notice of Borrowing) not later than 12:00 noon (Dallas, Texas time) (or such later time as the Agent may agree) on the Business Day immediately preceding the Closing
Initial Borrowings. Each Advance under a Credit Line shall be made upon the Borrower's irrevocable written notice delivered to Bank in the form of the Request for Advance, which notice must be received by the Bank in conformity with the prior notice requirements of Section 3.5. Such Request for Advance shall specify:
(i) the amount of the Advance, which, in the case of an Advance of LIBOR Rate Loans, shall be in aggregate minimum principal amount of Five Hundred Thousand Dollars ($500,000.00) or any amount in excess thereof;
(ii) the requested Borrowing Date, which shall be a Business Day;
(iii) whether the Advance is to be comprised of LIBOR Rate Loans or Prime Rate Loans;
(iv) if the Advance is to be LIBOR Rate Loans, the Interest Period applicable to such Loans; PROVIDED, HOWEVER, that with respect to the Borrowing to be made on the Effective Date of this Agreement, the Request For Advance shall be delivered to Bank not later than 9:00 o'clock, A.M., Chicago Time one Business Day before such Effective Date and such Advance will consist of Prime Rate Loans only.
Initial Borrowings. The Lender’s obligation to make the initial Revolving Loan hereunder is, in addition to the conditions precedent specified in Section 4.1 hereof, subject to the satisfaction of each of the following conditions precedent:
Initial Borrowings. The aggregate amount of the initial Loans and Letters of Credit hereunder on the Closing Date shall not exceed $450,000,000.
Initial Borrowings. The obligation of each Lender to make its initial Borrowing hereunder is subject to the following conditions precedent, each of which shall have been fulfilled or waived to the satisfaction of Agent:
Initial Borrowings. The initial Borrowings hereunder shall be made ------------------ on the Closing Date and shall be made on notice received by the Administrative Agent from the Borrower (pursuant to an irrevocable Notice of Borrowing) not later than 11:00 a.m. (New York City time) (or such later time as the Administrative Agent may agree) on the Business Day immediately preceding the Closing Date. Such Notice of Borrowing shall be irrevocable upon receipt by the Administrative Agent. Each Appropriate Lender shall, before 11:00 a.m. (New York City time) on the Closing Date, make available for the account of its Applicable Lending Office to the Administrative Agent such Lender's ratable share of such Borrowings by depositing same day funds in the Administrative Agent's Account. Notwithstanding any contrary provision hereof, the initial Borrowings may consist only of Base Rate Loans.
Initial Borrowings. The initial Borrowings hereunder shall ------------------ be made on the Closing Date and shall be made on notice received by the Administrative Agent from the Borrower (pursuant to an irrevocable Notice of Borrowing) not later than 11:00 a.m. (Toronto time) (or such later time as the Administrative Agent may agree) on (i) the Business Day immediately preceding the Closing Date in the case of the initial Borrowings of Prime Rate Loans, Base Rate Loans and/or BA Loans and (ii) on the second Business Day immediately preceding the Closing Date in the case of the initial Borrowings of Eurodollar Rate Loans. Such Notice of Borrowing shall be irrevocable upon receipt by the Administrative Agent. Each Appropriate Lender shall, before 11:00 a.m. (Toronto time) on the Closing Date, make available to the Administrative Agent such Lender's ratable share of such Borrowings by depositing same day funds in the Administrative Agent's Account.
Initial Borrowings. The obligations of the Lenders to fund the initial Borrowing shall be subject to the prior or concurrent satisfaction of each of the conditions set forth in this Section 5.1.