INITIAL CONDITIONS TO BORROWINGS Sample Clauses

INITIAL CONDITIONS TO BORROWINGS prior to the drawdown of such of the Borrowings as are not outstanding on the date of execution hereof, there shall have been delivered to each of the Lenders, in form and substance satisfactory to the Lenders: 11.1.1.1 a duly executed copy of this Agreement, 11.1.1.2 a certified copy of the constating documents and by-laws of each of the Credit Parties certified by a Responsible Officer of the related Credit Party, accompanied by good standing or equivalent certificates issued by the appropriate Governmental Body of each relevant jurisdiction; 11.1.1.3 a duly certified copy of a resolution or resolutions of the Board of Directors of each Credit Party relating to the authority of each Credit Party to execute and deliver and to perform its obligations under the Credit Documents to which it is a party and all other instruments, agreements, certificates and papers and other documents provided for or contemplated by the said Credit Documents and the manner in which and by whom the foregoing documents are to be executed and delivered, certified by a Responsible Officer of the relevant Credit Party as of the date of execution of the relevant Credit Document or other relevant document, 11.1.1.4 a certificate of each Credit Party setting forth specimen signatures of the individuals authorized to sign on its behalf the Credit Documents to which it is a party and the instruments, agreements, certificates, papers and other documents provided for or contemplated by said Credit Documents, 11.1.1.5 a certificate of compliance of a Responsible Officer of the Borrower relating to the Credit Parties in form and substance substantially as attached as SCHEDULE "S", 11.1.1.6 evidence (i) of the due registration, recording or filing of the Credit Documents in all jurisdictions necessary to protect or perfect the security and rights created thereby (including each jurisdiction, other than England and Italy, wherein account debtors of the Borrower are located if the aggregate amount of accounts receivable owing to the Borrower by such account debtors located in the said jurisdiction exceeds Cdn$500,000 or the Equivalent Amount in currencies other than Canadian Dollars) and (ii) of the delivery to the Lenders of the share certificates representing the Capital Stock of Phoenix (USA) and IBRD, duly endorsed in blank (or accompanied by duly executed blank transfer certificates) and accompanied by duly executed proxies in respect thereof, 11.1.1.7 evidence of appropriate insurance co...
Sample 1

Related to INITIAL CONDITIONS TO BORROWINGS

  • CONDITIONS TO BORROWINGS The obligations of each Lender to make Advances to Borrower hereunder is subject to the satisfaction of the following conditions:

  • Additional Conditions to Revolving Loans If a Revolving Loan is requested, all conditions set forth in Section 2.1 shall have been satisfied.

  • Conditions to Borrowing The Bank will not be obligated to make (or continue to make) advances hereunder unless (i) the Bank has received executed originals of the Note and all other documents or agreements applicable to the loans described herein, including but not limited to the documents specified in Article III (collectively with this Agreement the “Loan Documents”), in form and content satisfactory to the Bank; (ii) if the loan is secured, the Bank has received confirmation satisfactory to it that the Bank has a properly perfected security interest, mortgage or lien, with the proper priority; (iii) the Bank has received certified copies of the Borrower’s governance documents and certification of entity status satisfactory to the Bank and all other relevant documents; (iv) the Bank has received a certified copy of a resolution or authorization in form and content satisfactory to the Bank authorizing the loan and all acts contemplated by this Agreement and all related documents, and confirmation of proper authorization of all guaranties and other acts of third parties contemplated hereunder; (v) if required by the Bank, the Bank has been provided with Opinion of the Borrower’s counsel in form and content satisfactory to the Bank confirming the matters outlined in Section 2.2 and such other matters as the Bank requests; (vi) no default exists under this Agreement or under any other Loan Documents, or under any other agreements by and between the Borrower and the Bank; and (vii) all proceedings taken in connection with the transactions contemplated by this Agreement (including any required environmental assessments), and all instruments, authorizations and other documents applicable thereto, are satisfactory to the Bank and its counsel.

  • Conditions Precedent to Borrowings 5.1 Conditions Precedent to the Initial Borrowing of TBC 37 5.2 Conditions Precedent to Each Committed Borrowing of TBC 38 5.3 Conditions Precedent to Each Bid Borrowing of TBC 38 5.4 Conditions Precedent to the Initial Borrowing of a Subsidiary Borrower 39 5.5 Conditions Precedent to Each Committed Borrowing of a Subsidiary Borrower 39 5.6 Conditions Precedent to Each Bid Borrowing of a Subsidiary Borrower 40

  • CONDITIONS TO ALL BORROWINGS The obligations of the Lenders to make any Loan or issue any Letter of Credit, whether on or after the Closing Date, shall also be subject to the satisfaction of the following conditions precedent:

  • Additional Conditions to Letters of Credit If the issuance of a Letter of Credit is requested, all conditions set forth in Section 2.3 shall have been satisfied.

  • Conditions Precedent to Borrowing The obligation of the Liquidity Provider to make an Advance on the occasion of each Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and, prior to the date of such Borrowing, the Borrower shall have delivered a Notice of Borrowing which conforms to the terms and conditions of this Agreement and has been completed as may be required by the relevant form of the Notice of Borrowing for the type of Advances requested.

  • CONDITIONS TO LOANS The obligations of Lenders to make Loans are subject to satisfaction of all of the applicable conditions set forth below.

  • Conditions to Initial Extension of Credit The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent:

  • 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: