Conditions of Advances. The Banks and the Agent shall not be obligated to make any Advance hereunder at any time unless:
(a) On the Effective Date there shall have been delivered to each Bank the following documents, in form and substance satisfactory to the Agent and the following additional conditions shall have been satisfied:
(i) The favorable opinion of such counsel for the Borrowers as shall be approved by the Required Banks, with respect to the matters as requested by the Banks, all in form and substance satisfactory to the Required Banks;
(ii) certified copies of such corporate documents of each Borrower, including each Borrower's articles of incorporation, by-laws and a good standing certificate, and such documents evidencing necessary corporate action with respect to this Agreement, the Loans, the Notes and the Security Documents, and certifying to the incumbency of, and attesting to the genuineness of the signatures of, those officers authorized to act on behalf of each Borrower, as the Banks shall request;
(iii) the Security Documents required as of the Effective Date under Section 5.1 duly executed on behalf of the Borrowers, together with evidence of the recordation, filing and other action in such jurisdictions as the Banks may deem necessary or appropriate with respect to the Security Documents and evidence of the first-priority of the Banks' liens and security interests under the Security Documents, subject only to Permitted Liens, including without limitation such additional mortgages, security agreements, pledge agreements, other documents and opinions of counsel required by the Banks and original stock certificates and assignments separate from certificate of each Person whose stock is required to be pledged;
(iv) the Notes duly executed on behalf of the Borrowers, and it is acknowledged and agreed that the Notes: (A) are issued in exchange and replacement for the promissory notes issued pursuant to the Existing Credit Agreement, (B) shall not be deemed a novation or to have satisfied such promissory notes and (C) evidence the same indebtedness evidenced by such promissory notes plus additional indebtedness;
(v) the Consent and Amendment of Security Documents duly executed by the Borrowers;
(vi) Payment of such fees agreed to among the Borrowers and the Agent;
(vii) the execution by the Borrowers of the Agent's standard environmental certificate;
(viii) the Banks shall have determined that the Loans to be made are equal to or less than the Borrowing Base;
(ix)...
Conditions of Advances. Upon reasonable advance request from Borrower, Lender shall make advances to or as directed by Borrower, provided that each and all of the following conditions is satisfied:
2.1 Borrower shall have executed and delivered the Note to Lender, as applicable;
2.2 The aggregate amount of outstanding advances following such advance shall not exceed $500,000;
2.3 The representations and warranties of Borrower in the Loan Documents shall be true and correct in all material respects;
2.4 Borrower shall have complied in all material respects with each of its agreements in the Loan Documents;
2.5 The advances shall be used only for such purposes as are set forth in Section 4.1 of this Agreement; and
2.6 Borrower shall have completed the Public Offering.
Conditions of Advances. Notwithstanding any other provisions contained in this Agreement, the making of any advance in connection with any Revolving Loan shall be conditioned upon the following:
Conditions of Advances. 31 SECTION 3.01. Conditions Precedent to Initial Advances..................31 SECTION 3.02. Conditions Precedent to All Advances......................33 ARTICLE IV
Conditions of Advances. Procedure for requesting Advances; the following new Sections 3.2 and 3.3 shall be added:
Conditions of Advances. Upon reasonable advance request from Borrower, Lender shall make advances to or as directed by Borrower, provided that each and all of the following conditions is satisfied:
2.1 Borrower shall have executed and delivered the Note to Lender;
2.2 The aggregate amount of outstanding advances following such advance shall not exceed $1,750,000;
2.3 The representations and warranties of Borrower in the Loan Documents shall be true and correct in all material respects;
2.4 Borrower shall have complied in all material respects with each of its agreements in the Loan Documents;
2.5 Borrower shall not have terminated Lender’s employment as the Chief Executive Officer of Borrower other than for cause;
2.6 The advances shall be used only for such purposes as are set forth in Section 4.1 of this Agreement; and
2.7 Prior to the effectiveness of the Registration Statement, Lender consents to the advance.
Conditions of Advances. Lender shall not be obligated to consider making any Advance(s) on or after the Closing Date unless all of the conditions set forth in this Section 4.2 have been satisfied in a manner, form and substance satisfactory to Lender, including the following:
Conditions of Advances. Lender’s obligation to make each Advance (including the Initial Advance) shall be subject to the satisfaction or waiver by Lender of the following additional conditions precedent, in addition to all other conditions of each Advance provided elsewhere in this Agreement and in the other Loan Documents:
4.5.1 All conditions to this Agreement under Section 4.4 above (other than those set forth in Section 4.4.1), shall be satisfied in full;
4.5.2 Borrower shall have delivered to Lender a fully executed Request for Advance;
4.5.3 Concurrent with each Request for an Advance, Borrower shall execute and deliver to Lender (i) a fully completed and executed Borrowing Base Certificate and (ii) an updated summary, in form and detail satisfactory to Lender, of the Collateral Loans and other Borrower Loans in Borrower’s Loan Portfolio detailing the status of such Collateral Loans and other Borrower Loans, including without limitation, outstanding amounts due, status of performance, status of real property collateral and other information that may be required by Lender for each Borrower Loan;
4.5.4 Borrower shall have paid to Lender the Collateral Loan Fee for each Collateral Loan (including, without limitation, each of the Collateral Loans included in the Initial Loan Collateral) that is approved by Lender as an Eligible Receivable and pledged to Lender as Collateral;
4.5.5 No event or circumstance shall have occurred or be continuing which constitutes an Event of Default continuing beyond any applicable grace and/or notice period;
4.5.6 Lender shall have received payment of the reasonable fees and costs actually incurred by Lender in connection with each Advance and the preparation of the Loan Documents, including, but not limited to, reasonable third-party attorneys’ fees;
4.5.7 Lender shall have approved the Collateral Loans that have qualified as Eligible Receivables (as provided in Section 4.6) in connection with the Request for Advance; and
Conditions of Advances. Notwithstanding any other provisions contained in this Agreement to the contrary, the making of each Loan provided for in this Agreement is conditioned upon the following:
Conditions of Advances. Notwithstanding any other provisions contained in this Agreement, the making of any Loan or advance and the issuance of any Letter of Credit (each, a “Credit Extension”), including the continuation of any LIBOR Rate Advance from one Interest Period to another or conversion of one Loan Type into another Loan Type, shall be conditioned upon the following:
