Common use of STANDARD DISBURSEMENT CONDITIONS Clause in Contracts

STANDARD DISBURSEMENT CONDITIONS. The obligation of the Bank to permit any drawdowns hereunder at any time is subject to the following conditions precedent: a) The Bank shall have received the following documents which shall be in form and substance satisfactory to the Bank: i) A copy of a duly executed resolution of the Board of Directors of the Borrower empowering the Borrower to enter into this Agreement; ii) A copy of any necessary government approvals authorizing the Borrower to enter into this Agreement; iii) All of the Bank Security and supporting resolutions and solicitors' letter of opinion required hereunder; iv) The Borrower's compliance certificate certifying compliance with all terms and conditions hereunder; v) all operation of account documentation; and vi) For drawdowns under the Facility by way of L/C or L/G, the Bank’s standard form Letter of Credit Indemnity Agreement b) The representations and warranties contained in this Agreement are correct. c) No event has occurred and is continuing which constitutes an Event of Default or would constitute an Event of Default, but for the requirement that notice be given or time elapse or both. d) The Bank has received the arrangement fee payable hereunder (if any) and the Borrower has paid all legal and other expenses incurred by the Bank in connection with the Agreement or the Bank Security.

STANDARD DISBURSEMENT CONDITIONS. The obligation of the Bank to permit any drawdowns hereunder at any time is subject to the following conditions precedent: a) The Bank shall have received the following documents which shall be in form and substance satisfactory to the Bank: i) A copy of a duly executed resolution of the Board of Directors of the Borrower empowering the Borrower to enter into this Agreement; ii) A copy of any necessary government approvals authorizing the Borrower to enter into this Agreement; iii) All of the Bank Security and supporting resolutions and solicitors' ’ letter of opinion required hereunder; iv) The Borrower's ’s compliance certificate certifying compliance with all terms and conditions hereunder; v) all operation of account documentation; and vi) For drawdowns under the Facility by way of L/C or L/G, the Bank’s standard form Letter of Credit Indemnity Agreement b) The representations and warranties contained in this Agreement are correct. c) No event has occurred and is continuing which constitutes an Event of Default or would constitute an Event of Default, but for the requirement that notice be given or time elapse or both.. 14 d) The Bank has received the arrangement fee payable hereunder (if any) and the Borrower has paid all legal and other expenses incurred by the Bank in connection with the Agreement or the Bank Security.

STANDARD DISBURSEMENT CONDITIONS. The obligation of the Bank to permit any drawdowns hereunder at any time is subject to the following conditions precedent: a) The Bank shall have received the following documents which shall be in form and substance satisfactory to the Bank: i) A copy of a duly executed resolution of the Board of Directors of the Borrower empowering the Borrower to enter into this Agreement; ii) A copy of any necessary government approvals authorizing the Borrower to enter into this Agreement; iii) All of the Bank Security and supporting resolutions and solicitors' ’ letter of opinion required hereunder; iv) The Borrower's ’s compliance certificate certifying compliance with all terms and conditions hereunder; v) all All operation of account documentation; and vi) For drawdowns under the Facility by way of L/C or L/G, the Bank’s standard form Letter of Credit Indemnity Agreement b) The representations and warranties contained in this Agreement are correct. c) No event has occurred and is continuing which constitutes an Event of Default or would constitute an Event of Default, but for the requirement that notice be given or time elapse or both. d) The Bank has received the arrangement fee payable hereunder (if any) and the Borrower has paid all legal and other expenses incurred by the Bank in connection with the Agreement or the Bank Security.

STANDARD DISBURSEMENT CONDITIONS. The obligation of the Bank to permit make any drawdowns loan or advance hereunder at any time is subject to the following conditions precedent: a) The Bank shall have received the following documents which shall be in form and substance satisfactory to the Bank: i) A copy of a duly executed resolution of the Board of Directors of the Borrower empowering the Borrower to enter into this Agreement; ii) A copy of any necessary government approvals authorizing the Borrower to enter into this Agreement; iii) All of the Bank Security and supporting resolutions and solicitors' ’ letter of opinion required hereunder; iv) The Borrower's ’s compliance certificate certifying compliance with all terms and conditions hereunder;; and v) all operation of account documentation; and vi) For drawdowns under the Facility by way of L/C or L/G, the Bank’s standard form Letter of Credit Indemnity Agreement; b) The representations and warranties contained in this Agreement are correct. c) No event has occurred and is continuing which constitutes an Event of Default or would constitute an Event of Default, but for the requirement that notice be given or time elapse or both. d) The Bank has received the arrangement fee payable hereunder (if any) and the Borrower has paid all legal and other expenses incurred by the Bank in connection with the Agreement or the Bank Security.