Second Term Loan Closing Clause Samples

Second Term Loan Closing. As to the Second Term Loan, each of the following shall have occurred on or prior to the Second Closing Date: (a) The First Closing Date shall have occurred; (b) Unless the Second Closing Date occurs on April 30, 2008, the Agents shall have received from the Borrower a Borrowing Base Report dated as of the most recent practicable date, evidencing Availability of $5,000,000 or less; (c) Each of the Second Term Loan Notes shall have been duly executed and delivered by the respective parties thereto, shall be in full force and effect and shall be in form and substance satisfactory to each of the Lenders. (d) Each Lender shall have received a fully executed copy of each such document and such other documents and certificates as the Agents may request; (e) The Borrower shall have paid the Second Closing Fee in accordance with Section 5.6 and all other amounts due and payable on the Second Closing Date under this Credit Agreement; and