Initial Obligations. The obligation of the Lender to make the initial Loans is conditioned on the Lender receiving, prior to or on the date of the Lender’s first extension of credit, each of the following items in form, detail and content reasonably satisfactory to the Lender and its counsel:
(a) the executed Revolving Credit Note and Term Note;
(b) the executed Negative Pledge Agreement;
(c) to the extent any Revolving Loans are being borrowed, an executed Loan/Rate Conversion Request;
(d) a certificate of the secretary or an assistant secretary of the Company certifying (i) an attached complete and correct copy of its bylaws; (ii) an attached complete and correct copy of resolutions duly adopted by the Company’s board of directors which have not been amended since their adoption and remain in full force and effect, authorizing the execution, delivery and performance of this Agreement and the Related Documents to which it is a party; (iii) an attached complete and correct copy of its articles of incorporation and certification that its articles of incorporation or charter have not been amended since the date of the last date of amendment thereto indicated on the certificate of the secretary of state; (iv) as to the incumbency and specimen signature of each officer executing this Agreement and all other Related Documents to which it is a party, and including a cer-tification by another officer as to the incumbency and signature of the secretary or assistant secretary executing the certificate; (v) that there are no material Liens of record on the Property of the Company or any Bank Subsidiary other than Permitted Liens;
(e) an opinion of counsel for the Company in form and substance reasonably satisfactory to the Lender and its counsel;
(f) certificates of status or good standing for the Company issued by the Office of the Secretary of State of incorporation or organization and certified copies of the Articles of Organization for the Company, all issued by the Office of the Secretary of State of incorporation within thirty (30) days of the date hereof;
(g) the Company shall have paid an upfront commitment fee for the Term Loan equal to $75,000, including any portion of such fee paid prior to closing; and
(h) there shall not exist any Default or Event of Default under Section 5.10 of this Agreement;
(i) Lender shall have received (i) audited financial statements of the Company and BHB for the prior three completed fiscal years ended at least 90 days prior to the date of this Ag...
Initial Obligations. Each Member shall enter into a Charterparty with any third party as suggested by the Manager in respect of its Initial Member Vessel(s) on the date of this Agreement pursuant to the provisions of this Agreement and in particular the provisions of clause 4.2(a).
Initial Obligations. Each Party (other than BPA) will, commencing if and at such time as the conditions precedent set forth in section 1.2 above are satisfied, perform the following obligations (the “Initial Obligations”):
(i) support, in BPA proceedings to evaluate whether the Administrator should execute this Settlement Agreement, a BPA decision that this Settlement Agreement should be so executed;
(ii) seek, in cooperation with the other Parties, a stay or other procedural order that preserves all claims and defenses in the Litigation, as described in section 10.1; and
(iii) support, in BPA proceedings to adopt applicable power rates for the initial Rate Period, BPA’s use of this Settlement Agreement to develop such rates. Any Party may cite any other Party’s execution of this Settlement Agreement, at any time after such other Party’s execution and delivery to BPA of this Settlement Agreement and the conditions precedent in section 1.2 have been satisfied, as evidencing such other Party's support for this Settlement Agreement.
Initial Obligations. Before We are obligated to perform any Services, You must complete the following:
Initial Obligations. (a) On the Acceptance Date with respect to the Initial System, RPR automatically shall be deemed to have ordered from IRORI an aggregate of *** NanoKans, at a price of *** each, and IRORI shall be entitled to submit to RPR an invoice therefor, in accordance with Section 7.8(a).
(b) Between the Acceptance Date with respect to the Initial System and the second Anniversary of such Acceptance Date, RPR shall order from IRORI an aggregate of *** additional NanoKans, at a price of *** each. This is a take-or-pay.
Initial Obligations. 12 7.2 Requirements................................................................13 7.3 Orders......................................................................13 7.4 Delivery....................................................................13 7.5
Initial Obligations. (a) On the Acceptance Date with respect to the Initial System, BMS automatically shall be deemed to have ordered from IRORI an aggregate of *** NanoKans, at a price of *** each, and IRORI shall be entitled to submit to BMS an invoice therefor, in accordance with Section 7.9(a).
(b) From time to time after the Acceptance Date with respect to the Initial System, BMS shall deliver to IRORI resins to be loaded into the NanoKans ordered by BMS pursuant to Section 7.1(a) (arty resins delivered by BMS pursuant to this Section 7 collectively, the "BMS Resins"), accompanied by instructions as to how many of such NanoKans should be loaded with such BMS Resins and as to shipping and delivery of such NanoKans. Within 30 *** Portions of this page have been omitted pursuant to a request for Confidential Treatment and filed separately with the Commission
Initial Obligations. (a) PPI hereby assigns to HNZ a one-half interest (50%) in the Permits. PPI agrees to execute any and all documents required by the ASLD to cause the ASLD records to reflect the assignment to HNZ of a one-half interest in the Permits. The Participants shall share equally the application fees to assign the Permits to PPI and HNZ as joint permittees. If the ASLD denies such application for assignment of the Permits for any reason, the Participants will take any reasonable actions necessary to effect the intent of this Agreement, including if appropriate submission of new permit applications for the Permit Property to replace the Permits and any legal action to challenge any such denial. If replacement permits are secured by a Participant or the Participants within the five-year terms of the current Permits pursuant to this Subsection 5.1(a) , then such new permits shall be deemed to be Permits under this Agreement. The cost of securing any replacement permits pursuant to this Subsection 5.1(a) shall be shared equally by the Participants.
(b) Subject to Subsection 5.1(d) , HNZ shall pay fifty percent (50%) of the costs previously incurred by PPI with respect to holding, renting, exploring and renewing the Permits, which costs are identified on Exhibit E. The total amount of this payment shall not exceed fifty percent (50%) of an amount equal to the sum of the minimum statutory rent and payment-in-lieu of exploration work requirements for each of the Permits from the effective date of the applicable Permit until the Effective Date.
(c) HNZ’s failure to pay the amount due in accordance with the provisions of this Article, if not cured within thirty (30) days after written notice of such default, shall be deemed a termination of this Agreement, and HNZ shall then have no further right, title or interest in the Permits and shall take such actions as are necessary to ensure that any interest acquired in the Permits is assigned to PPI free and clear of any Encumbrances arising by, through or under HNZ, except for such Encumbrances to which the Participants may have agreed.
(d) If the ASLD denies the application for assignment of a one-half (50%) interest in the Permits as contemplated in Subsection 5.1(a) , then HNZ is relieved of any obligation to pay to PPI the amounts in this Article and any amounts paid by HNZ to PPI hereunder shall be immediately refunded to HNZ by PPI.
(e) PPI acknowledges and agrees that the breach of this Agreement would cause irreparable d...
Initial Obligations. Before We are obligated to perform any Services, You must complete the following:
a. Signed Agreement. You will sign, date and return this Agreement, either electronically through Our e- signature program, or by hand-signing a hard copy of the document and mailing, emailing or faxing it to Us.
Initial Obligations. In addition to the terms and conditions otherwise contained herein, the obligation of the Bank to extend any Loans or make or incur any Obligation is conditioned on the Bank (i) receiving, prior to or on the date of the Bank's first extension of credit, each of the following items in form, detail and content satisfactory to the Bank or (ii) the Company having taken the actions specified herein:
(a) the executed Pledge Agreement pledging the stock or equity of each Subsidiary and the Company's interest in each joint venture;
(b) the opinion of counsel for the Company in form and substance to the Bank and its counsel;
(c) an executed Borrowing Base Certificate;
(d) the Collateral subject to the Pledge Agreement, together with stock powers executed in blank;
(e) certificates of title for all goods subject to the security interest created by the Security Agreement which are represented by certificates of title, together with a notation of the Bank's security interest on each such certificate; and
(f) such additional supporting documents and materials as the Bank may request.
