Obligee Conditions Sample Clauses

Obligee Conditions. Obligee shall have no obligation to acquire any Item of Equipment and subject it to the Equipment Agreement unless on the Funding Date therefor each of the following conditions are fulfilled to the satisfaction of Obligee: (a) no Equipment Agreement Default or Equipment Agreement Event of Default, or with respect to such Item of Equipment, an Event of Loss, has occurred and is continuing, nor has any information come to Obligee's attention from which Obligee could reasonably and in good faith infer that such event is likely to occur; (b) no material adverse change in the financial condition of Obligor has occurred since March 31, 1999, which, in Obligee's reasonable opinion, would impair the ability of Obligor to pay or perform its obligations under the Equipment Agreement; (c) such Item of Equipment is reasonably acceptable to Obligee, Lender Security Trustee and LC Issuer, and is free of all Liens other than Permitted Liens; (d) the Acquisition Cost of such Item of Equipment, when added to the total Acquisition Costs of all Items of Equipment to be financed hereunder will not cause the Maximum Acquisition Cost to be exceeded; (e) Obligee has received an invoice for such Item of Equipment in the form described in Section 4.2 hereof and a Certificate of Costs duly executed by Obligor, dated the Funding Date therefor substantially in the form of Exhibit B hereto; (f) Obligee shall have received executed copies of each Operative Document including the Related Exhibit A with Lender's consent thereto, the Related Equipment Agreement Supplement and an executed Cross Receipt; (g) all licenses, registrations, permits, consents and approvals required by Applicable Laws or by any Government Entity in connection with Obligee's rights and interests in, and the delivery, acquisition, installation, use and operation of, each Item of Equipment shall have been obtained to the satisfaction of Obligee; (h) Obligee shall have received a certificate in form and substance satisfactory to Obligee dated such Funding Date from Obligor, executed by a duly authorized officer of Obligor, the truth and accuracy of which shall be a condition to the Obligee to acquire any Item of Equipment, confirming that each of the representations and warranties set forth in Section 2.1 hereof are true and correct as if made on and as of such date; (i) Obligee shall have received from Obligor, in form and substance satisfactory to Obligee, resolutions of the board of directors of Obligor or other w...