UNDERWRITING CONDITIONS Clause Samples
The UNDERWRITING CONDITIONS clause sets out the specific requirements and criteria that must be satisfied before an insurance policy or financial agreement becomes effective. Typically, this clause outlines the information, documentation, and risk assessments that the underwriter needs to review, such as medical records for life insurance or financial statements for loans. By clearly defining these prerequisites, the clause ensures that both parties understand what is needed for coverage or funding to commence, thereby reducing uncertainty and helping to manage risk for the underwriter.
UNDERWRITING CONDITIONS. 4.1 Each Underwriter’s underwriting of its Proportion of the Facility is subject to satisfaction of the following conditions:
(a) execution of a Facility Agreement (that is mutually acceptable to you, the Mandated Lead Arrangers and the Underwriters, reflecting the terms and conditions set out in the Term Sheet) by all parties thereto;
(b) satisfaction of all conditions to utilisation set out in the Underwriting Documents;
(c) compliance by the Borrower in all material respects with the terms of the Underwriting Documents to the extent that any failure to so comply with terms of the Underwriting Documents would result in any Certain Funds Condition not being satisfied (had the Facility Agreement been entered into as of the date of this Commitment Letter); and
(d) in respect of each Underwriter, it not being unlawful or unlawful for such Underwriter (or any Affiliate of such Underwriter) if such Underwriter were to fund, make available and maintain its participation in the Facility and perform its obligations under the Underwriting Documents and the Facility Agreement, and upon satisfaction or waiver (by the Underwriters) of such conditions, the initial funding under the Facility shall occur.
UNDERWRITING CONDITIONS. 4.1 Each Underwriter’s underwriting of, and its commitment to provide, 100% of the Facility is subject only to satisfaction of the following conditions:
(a) execution of a Facility Agreement by you (reflecting the terms and conditions set out in the Term Sheet and with any other changes that are mutually and reasonably acceptable to you, the Mandated Leader Arranger and the Underwriter) in accordance with this letter;
(b) satisfaction (or waiver) (by the Underwriter) of all express conditions to utilisation set out in this paragraph and Schedule 2 (Conditions Precedent) of the Term Sheet; and
(c) in respect of the Underwriter, it not being unlawful or unlawful for the Underwriter (or any Affiliate of the Underwriter) if the Underwriter were to fund, make available and maintain its participation in the Facility and perform its obligations under the Underwriting Documents and the Facility Agreement by reason of any event or circumstance occurring after the date hereof (excluding, for the avoidance of doubt, any event of illegality or unlawfulness that has been overcome pursuant to paragraph 5.4 below and that no longer affects the Underwriter), and upon satisfaction or waiver (by the Underwriter) of such conditions, the initial funding under the Facility shall occur.
UNDERWRITING CONDITIONS. If and when a condition is requested by an underwriter, we will notify you through email. We ask that you give these conditions the highest priority and work to complete them as quickly as possible. We will ask to
UNDERWRITING CONDITIONS. 4.1 The Underwriter’s underwriting of the Facility is subject only to the satisfaction of the following conditions:
(a) execution of a mutually acceptable Facility Agreement, reflecting the terms and conditions set out in the Term Sheet, by all parties thereto, provided that this paragraph (a) shall not apply in the case of a breach by the Mandated Lead Arranger or the Underwriter of paragraph 6 (Execution of Facility Agreement) of this letter;
(b) satisfaction (or waiver by the Underwriter) of all conditions precedent to the obligations of the Mandated Lead Arranger and the Underwriter set out in section “Conditions Precedent” in the Term Sheet; and
(c) compliance by the Borrower in all material respects with the material terms of the Underwriting Documents to the extent that any failure to so comply with terms of the Underwriting Documents would result in any Certain Funds Condition not being satisfied (had the Facility Agreement been entered into as of the date of this Commitment Letter), and upon satisfaction or waiver by the Underwriter, the initial funding under the Facility shall occur.
UNDERWRITING CONDITIONS. 4.1 The Underwriter’s agreement to underwrite and fund the Facility on or before the Closing Date is subject only to satisfaction of the following conditions:
(a) execution of a Facility Agreement (that is mutually acceptable to you, the Mandated Lead Arranger and the Underwriter, reflecting and shall be consistent with the terms and conditions set out in the Term Sheet) by all parties thereto in accordance with paragraph 6 (Execution of Facility Agreement) of this Commitment Letter;
(b) satisfaction (or waiver by the Underwriter) of all conditions precedent to the availability and initial funding of the Facility under this paragraph 4 (Underwriting Conditions), the Certain Funds Conditions and Schedule 1 (Conditions Precedent) to the Term Sheet;
(c) compliance by the Borrower in all material respects with the terms of the Underwriting Documents; and
(d) subject to paragraph 5.4, in respect of the Underwriter, it not becoming unlawful after the date of this Commitment Letter in an applicable jurisdiction for the Underwriter (or any Affiliate of such Underwriter) if the Underwriter were to fund, make available and maintain its participation in the Facility and perform its obligations under the Underwriting Documents and the Facility Agreement, and upon satisfaction or waiver (by the Underwriter) of such conditions, the initial funding under the Facility shall occur.