Obligation to Make Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances in U.S. dollars to the Borrowers from time to time on any Business Day during the period from the date hereof until the Termination Date in an aggregate principal amount at any time outstanding not to exceed such Lender’s Commitment.
Obligation to Make Advances. The obligation of Lender to make any advance of funds to Borrower hereunder shall be subject to the following conditions precedent:
(a) Borrower shall provide Lender on the date of any such advance of funds a certificate, signed by an officer of Borrower with knowledge of the matters set forth therein, certifying that, as of such date, (i) all of the representations and warranties of Borrower contained in Section 6 hereof are true and correct, except to the extent that such representations and warranties expressly relate to an earlier date, in which event, such representations and warranties remain true and correct as of such earlier date, and (ii) Borrower has performed and complied with all agreements, covenants and conditions contained herein and contemplated hereby which are required to be performed or complied with by Borrower.
(b) Prior to the initial advance of funds hereunder, Borrower shall have delivered to Lender: (i) a resolution of Borrower authorizing the execution and delivery of this Agreement, the Note, the Subordination Agreement and any other instrument or document executed and delivered by Borrower to Lender in connection with the Loan and all acts required to be performed by Borrower hereunder and thereunder; and (ii) a certificate of existence for Borrower issued by the Secretary of State of the state of its formation dated not more than thirty (30) days prior to the date of such initial advance.
Obligation to Make Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to any Borrower in Dollars from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate principal amount that will not result in (i) the aggregate principal amount of the Advances of any Lender then outstanding exceeding such Lender’s Commitment or (ii) the aggregate principal amount of all the Advances then outstanding exceeding the aggregate amount of all the Commitments of the Lenders. Within the limits of each Lender’s Commitment and subject to this Section 2.01, any Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.11 or repay pursuant to Section 2.03 and reborrow under this Section 2.01.
Obligation to Make Advances. Notwithstanding any provision of this Agreement, the Bank shall not be required to make any Advance hereunder if the conditions precedent in paragraph 4 hereof have not been satisfied or if any Event of Default has occurred and is continuing.
Obligation to Make Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances in U.S. dollars to the Borrowers from time to time on any Five-Year Credit Agreement 16 Business Day during the period from the date hereof until the Termination Date of such Lender in a principal amount not to exceed such Xxxxxx’s Unused Commitment.
Obligation to Make Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances in U.S. dollars to the Company from time to time on up to seven different Business Days during the period from the date hereof until the Commitment Termination Date in an aggregate principal amount not to exceed such Lender’s Commitment.
Obligation to Make Advances. (a) Each Lender with a Tranche I Commitment severally agrees, on the terms and conditions hereinafter set forth, to make Advances in Dollars to Altria on the Effective Date, in an aggregate amount not to exceed at any time outstanding such Lender’s Tranche I Commitment. Each Borrowing made pursuant to this Section 2.01(a) shall consist of Tranche I Advances made simultaneously by the Lenders ratably according to their respective Tranche I Commitments. Tranche I Advances made pursuant to this Section 2.01(a) that are repaid or prepaid may not be reborrowed. Upon the making of any Tranche I Advance by a Lender, such Lender’s Tranche I Commitment shall be permanently reduced by an amount equal to such Tranche I Advance and any Tranche I Commitment not drawn on the Effective Date shall terminate.
(b) Each Lender with a Tranche II Commitment severally agrees, on the terms and conditions hereinafter set forth, to make Advances in Dollars to Altria on the Tranche II Closing Date, provided such date is a Business Day during the Tranche II Commitment Availability Period, in an aggregate amount not to exceed at any time outstanding such Lender’s Tranche II Commitment. Each Borrowing made pursuant to this Section 2.01(b) shall consist of Tranche II Advances made simultaneously by the Lenders ratably according to their respective Tranche II Commitments. Tranche II Advances made pursuant to this Section 2.01(b) that are repaid or prepaid may not be reborrowed. Upon the making of any Tranche II Advance by a Lender, such Lender’s Tranche II Commitment shall be permanently reduced by an amount equal to such Tranche II Advance and any Tranche II Commitment not drawn on the Tranche II Closing Date shall terminate.
(c) Each Advance shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $50,000,000.
Obligation to Make Advances. Each Bank severally agrees, on the terms and conditions of this Agreement, to make Advances, in Dollars and/or, subject to Section 2.8 hereof, in an Optional Currency, to the Borrowers from time to time from the date hereof to and including the Commitment Expiry Date in such sums as are requested by the Borrowers up to an aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment minus such Bank's Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations, provided that the sum of the outstanding amount of the Advances (after giving effect to all amounts requested) plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the Total Commitment. From and after the Closing Date, the respective amount of each Bank's initial Commitment and its Commitment Percentage shall be as follows:
Obligation to Make Advances. Notwithstanding any provision of this --------------------------- Agreement, the Bank shall not be required to make any Advance under the Liquidation Proceeds Note if the conditions of lending in paragraph 5 hereof have not been satisfied or if any Event of Default has occurred.
Obligation to Make Advances. The Trust shall not be entitled to --------------------------- any further Advances under the Trust Note and acknowledges that all available Advances have been made. All payments and principal reductions of the Trust Note shall be permanent and no further Advances shall be available to the Trust as a result thereof. The Trust Note is not a revolving credit facility.
