Obligation to Lend. Subject to the terms and upon the conditions set forth in the Loan Documents, Lender shall lend to Borrower up to the Loan Amount. The indebtedness of Borrower to Lender for the Loan is evidenced by the Note.
Obligation to Lend. Lender’s obligation to lend any undisbursed portion of the Loan will terminate if (i) the Merger Agreement is terminated (whether by Lender, by Borrower or otherwise) for any reason or (ii) an Event of Default shall exist.
Obligation to Lend. The Bank shall not be obligated to make any Loan to Borrower, or modify, extend or terminate any Loan or any rights or remedies related thereto, or make any loan to any other Person at the request, upon the guarantee, or upon any Collateral, of Borrower unless the Bank agrees to do so in writing signed by a duly authorized officer of the Bank. No oral commitment to lend money or modify, extend or terminate any Obligation shall be binding upon the Bank until the same is reduced to writing and signed by a duly authorized Bank officer.
Obligation to Lend. Section 3.1(c) of the Credit Agreement shall be amended to read in full as follows:
(c) No Bank will be obligated to lend to Borrower or incur Letter of Credit Exposure under this Section 3.1, and Borrower shall not be entitled to borrow hereunder or obtain Letters of Credit hereunder (i) during the existence of any Borrowing Base Deficiency, (ii) in an amount which would cause a Borrowing Base Deficiency, (iii) unless otherwise approved in writing by Required Banks, if the Outstanding Credit prior to giving effect to such Borrowing or issuance of such Letter of Credit exceeds $325,000,000, or (iv) unless otherwise approved in writing by Required Banks, if the funding of such Borrowing or the issuance of such Letter(s) of Credit would cause the Outstanding Credit to exceed $325,000,000. Nothing in this Section 3.1(c) shall be deemed to limit any Bank's obligation to (A) reimburse any Letter of Credit Issuer with respect to such Bank's participation in Letters of Credit issued by such Letter of Credit Issuer as provided in Section 3.1(b), or (B) fund any Refunding Borrowing provided that Borrower is in compliance with Section 5.4."
Obligation to Lend. Lender shall be under no obligation to make loans under this Agreement upon the existence or occurrence of any event or condition whereby Debtor is in default on any indebtedness to Lender or to others, or whereby the provisions of any acceleration clause have become operative with respect to any promissory note, obligation or undertaking to Lender or to others. If any condition or event occurs that permits the Lender to decline to make loans under this Agreement. Lender may also terminate this Agreement by sending notice to Debtor and exercise all right and remedies provided in any promissory note, mortgage/deed of trust, security agreement or related document and under law, including the right to demand the Debtor immediately pay all amounts owed to the Lender...
Obligation to Lend. Subject to the conditions set forth herein, each Furmxx Xxxx Xxxity hereby agrees to the making of Advances up to and until the
Obligation to Lend. 5 2.1.2 [Intentionally Deleted]..............................................................5 2.2
Obligation to Lend. Subject to the conditions set forth herein, each Furmxx Xxxx Xxxity hereby agrees to the making of Fourth Amendment Advances up to and until the Termination Date upon receipt of Notices from the Company. All obligations of the Furmxx Xxxx Xxxities hereunder shall be several, and not joint and several.
Obligation to Lend. On the terms, and subject to the conditions ------------------ set forth herein, Guards or one of its affiliated companies ("Guards Affiliate") shall upon request by Associated, loan to Associated up to Two Hundred Thousand Dollars ($200,000), plus any unused amount from prior months, on a monthly basis (the "Credit Program") commencing on the Effective Date and ending on: (i) eighteen (18) months thereafter; or (ii) when the aggregate outstanding amount loaned to Associated under the Credit Program is equal to One Million Dollars ($1,000,000); or (iii) upon Associated's exercise of its option to purchase certain assets pursuant to that certain Option Agreement dated August 1, 1997 by and between Guards and Associated, whichever comes first.
Obligation to Lend. The obligation of BMS and Pfizer to lend to Portola the Loan shall be subject to the satisfaction (or waiver by BMS and Pfizer) of the following conditions (and the date on which the Loan is made (the “Borrowing Date”) shall be a date following the date on which such conditions shall have been satisfied or waived, which shall be the later of (i) thirty (30) days following the Effective Date and (ii) five (5) Business Days following receipt by BMS and Pfizer of the notice required to be delivered pursuant to Section 2.4(c), or such earlier date agreed to in writing by BMS and Pfizer):
(a) As of the Borrowing Date, (i) Portola shall have complied and shall then be in compliance with all the terms, covenants and conditions of this Agreement which are binding upon it and the Promissory Notes, (ii) no Event of Default shall have occurred and be continuing and (iii) the representations and warranties contained in Section 7 shall be true in all material respects with the same effect as though made on and as of the Effective Date;
(b) BMS and Pfizer shall have received an opinion of counsel for Portola, dated on or prior to the Borrowing Date and addressed to each of BMS and Pfizer, in form and substance reasonably acceptable to BMS and Pfizer; and
(c) Portola shall have provided to BMS and Pfizer written notice (i) of the account into which the Loan is to be deposited, and (ii) that the conditions of Section 2.4(a) shall have been and remain satisfied.
