Common use of Initial Conditions Precedent Clause in Contracts

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent to Initial Utilisation) in form and substance satisfactory to the Agent. The Agent shall notify the Company Parent and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 1 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders Lender promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Initial Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrowers and the Lenders promptly upon being so satisfied.. #4666581/6 22 (104)

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 1 (Conditions precedent) in form and substance satisfactory to the AgentAgent (acting reasonably). The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Facilities Agent has received all of the documents and other evidence listed in Part I A of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Facilities Agent. The Facilities Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Obligors’ Agent and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No 4.1.1 The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents documentation and other evidence listed in Part I 1 of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request to an Issuing Bank unless the Agent has received all of the documents and other evidence listed in Part I 1 (Conditions Precedent to Initial Utilisation) of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent and Conditions Subsequent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. To the extent that any such conditions precedent are delivered after the date of this Agreement, such conditions precedent shall be dated or certified as at the date of their delivery to the Agent, as the case may be. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the AgentAgent acting reasonably. The Agent shall notify the Company Borrowers and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation its initial Request for Borrowing unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders Lenders, promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Guarantor and the Lenders Banks promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request to the Agent or an Issuing Bank unless the Agent has received all of the documents and other evidence listed in Part I (Conditions Precedent to Initial Utilisation) of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent, it being understood that the delivery of such documents and other evidence already constitutes a pre-condition for the signing by the Finance Parties of this Agreement. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I A of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received (or waived receipt of) all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the AgentAgent (acting reasonably) (unless stated in Part I of Schedule 2 (Conditions precedent) that the satisfaction of a particular requirement is subject to approval by all the Lenders). The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in and appearing to comply with the requirements of Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent). The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfiedreceiving such documents and other evidence.

Initial Conditions Precedent. No The Borrower may not deliver a the first Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. (a) No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I 1 of Schedule 2 (Conditions precedentPrecedent to Initial Utilisation) other than the evidence referred to in paragraph 3(i) of Part 1 of that schedule in form and substance satisfactory to the Agent. The Agent shall notify the Company Parent and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I 1 of Schedule 2 (Conditions precedent) in form and substance satisfactory to the AgentAgent acting reasonably. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentprecedent to Initial Utilisation) in form and substance satisfactory to the AgentAgent (acting reasonably). The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) which shall be in form and substance reasonably satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Utilization Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall so notify the Company Borrower and the Lenders promptly upon being so satisfiedsatisfied by delivery of a duly completed Satisfaction Letter.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company each Borrower and the Lenders Banks promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I 1 of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Obligors’ Agent and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent to Initial Utilisation) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders Banks promptly upon being so satisfied.. Back to Contents

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the AgentAgent (acting reasonably), other than, in the case of a proposed Utilisation under Facility C only, the documents and other evidence listed in paragraphs 4(a), (b) and (c) in Part I of Schedule 2 (Conditions precedent). The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I (CPs to first Utilisation Request) of Schedule 2 3 (Conditions precedentprecedent and subsequent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Parent and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I A of Schedule 2 (Conditions precedentPrecedent to Initial Utilisation) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I 1 of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Obligors’ Agent and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 5 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower The Borrowers may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in and appearing to comply with the requirements of Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent). The Agent shall notify the Company and the Lenders promptly upon being so satisfiedreceiving such documents and other evidence.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the AgentAgent (acting reasonably). The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent) which shall be in form and substance reasonably satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower (or the Company) may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part part I of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I II of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received (or waived receipt of) all of the documents and other evidence listed in Part I part 1 of Schedule schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Obligors’ Agent and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I and Part II of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the AgentAgent (acting reasonably). The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent to Initial Utilisation) in form and substance satisfactory to the Agent. The Agent shall notify the Company Sappi Limited and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I 1 of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent) in form and substance reasonably satisfactory to the Agent. The Agent shall notify the Company Original Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I and appearing to comply with the requirements of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I IA of Schedule 2 3 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Parent and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance reasonably satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrowers’ Agent and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory Precedent to the Agentinitial Utilisation). The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfiedreceiving such documents.

Initial Conditions Precedent. No The Borrower may not deliver a any Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance reasonably satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfiedsatisfied including, without limitation, upon satisfaction of the condition precedent listed in paragraph 5(i) of Part I of Schedule 2 (Conditions Precedent).

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent, acting reasonably. The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company Obligors and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request to the Agent or an Issuing Bank unless the Agent has received all of the documents and other evidence listed in Part I 1 (Conditions Precedent to Initial Utilisation) of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I A of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders Borrower promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 3 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.. Back to Contents

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in and appearing to comply with the requirements of Part I of Schedule 2 ‎Schedule 1 (Conditions precedent) in form and substance satisfactory to the AgentPrecedent). The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfiedreceiving such documents and other evidence.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I II of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The For the avoidance of doubt, the Agent shall notify has notified the Company Borrower and Lenders that the Lenders promptly upon being so conditions precedent in Part II of Schedule 2 (Conditions precedent) have been satisfied.

Initial Conditions Precedent. No The Borrower may not deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the AgentAgent (acting on the instructions of the Majority Lenders). The Agent shall notify the Company Borrower and the Lenders promptly upon being so satisfied.

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders Banks promptly upon being so satisfied.. Back to Contents

Initial Conditions Precedent. No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I 1 and Part 2 of Schedule 2 (Conditions precedentPrecedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied.