Common use of Receipt of Loan Documents and Other Items Clause in Contracts

Receipt of Loan Documents and Other Items. The Agent and the Lenders shall have no obligation under this Agreement unless and until all matters incident to the consummation of the transactions contemplated herein, including, without limitation, the review by the Agent or its counsel of the title of the Borrower to its Oil and Gas Properties, shall be satisfactory to the Agent, and the Agent shall have received, reviewed, and approved the following documents and other items, appropriately executed when necessary and, where applicable, acknowledged by one or more Responsible Officers of the Borrower, all in form and substance satisfactory to the Lender and dated, where applicable, of even date herewith or a date prior or subsequent thereto and acceptable to the Lender: (a) multiple counterparts of this Agreement, as requested by the Lender; (b) the Notes; (c) the Artic Subordination Agreement; (d) confirmation that the Borrower shall have received the proceeds of an additional $5,000,000 of Parent Subordinated Debt from Parent and applied such proceeds solely to the reduction of the Loan Balance, together with all accrued and unpaid interest thereon; (e) confirmation that the Borrower shall have received the proceeds of $20,000,000 of Artic Subordinated Debt from Artic and applied such proceeds solely to the reduction of the Loan Balance, together with all accrued and unpaid interest thereon; and (f) such other agreements, documents, instruments, opinions, certificates, waivers, consents, and evidence as the Lender may reasonably request.