Conditions of Credit Extensions. The obligations of the Lenders to make Loans hereunder are subject to the satisfaction of the following conditions:
Conditions of Credit Extensions. The obligation of Bank to make each Credit Extension, including the initial Credit Extension, is subject to all of the conditions and requirements set forth in this Section 3 being satisfied and completed, or the satisfaction and completion thereof waived by Bank.
Conditions of Credit Extensions. 2.1 Conditions Precedent to the Effectiveness of this Agreement and the Initial Credit Extension. Bank’s obligation to make the initial Credit Extension is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including, without limitation:
(a) duly executed Loan Documents;
(a) Addendum No. 1 to Share Pledge Agreement, duly executed by Savara Denmark;
(b) the Operating Documents of each Borrower and long-form good standing certificates of each Borrower certified by the Secretary of State of the State of Delaware and the Secretary of State (or equivalent agency) of each other jurisdiction in which such Borrower is qualified to conduct business, in each case as of a date no earlier than 30 days prior to the Effective Date;
(c) certificate duly executed by a Responsible Officer or secretary of each Borrower with respect to Borrower’s (i) Operating Documents and (ii) Borrowing Resolutions;
(d) certified copies, dated as of a recent date, of searches for financing statement filed in the central filing office of the State of Delaware, accompanied by written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released;
(e) a duly executed Perfection Certificate for each Borrower;
(f) repayment of the Term Loan(s) (as defined in the Original Agreement) owing from Borrower under the Original Agreement, including (i) the portion of the Final Payment (as defined in the Original Agreement) not waived by Bank in an amount equal to $1,350,000, and (ii) the portion of the Prepayment Fee (as defined in the Original Agreement) not waived by Bank in an amount equal to $125,000 (in each case, such amounts will be refinanced by Bank using the proceeds received by Borrower from the Term Loan Advance made under this Agreement);
(g) evidence satisfactory to Bank that the insurance policies and endorsements required by Section 5.8 hereof are in full force and effect, together with appropriate evidence showing lender loss payable and additional insured clauses or endorsements in favor of Bank;
(h) with respect to the Term Loan Advance, a duly executed Payment/Advance Form; and
(i) payment of the fees and Bank Expenses then due as specified in ...
Conditions of Credit Extensions. 33 6.01. Conditions Precedent to Initial Credit Extension . 33 6.02. Conditions Precedent to Each Credit Extension . . . 34
Conditions of Credit Extensions. 10 3.1 Conditions Precedent to Initial Credit Extension................... 10 3.2 Conditions Precedent to all Credit Extensions...................... 11
Conditions of Credit Extensions. The obligation of each Bank to make its initial Credit Extension hereunder is subject to the condition that the Agent shall have received on or before the initial Credit Extension all of the following, in form and substance satisfactory to the Agent and each Bank, and in sufficient copies for each Bank:
Conditions of Credit Extensions. Conditions Precedent to First Credit Extensions. The obligations of the Lenders in respect of the first Credit Extension hereunder are subject to the following conditions precedent:
(a) The Agent shall have received the favorable written opinions of counsel for the Parent and each of the other Loan Parties, dated the Amendment Closing Date, addressed to the Agent and the Lenders and satisfactory to the Agent.
(b) The Agent shall have received: (i) a copy of the Charter Documents, in each case as amended to date, of each of the Loan Parties, certified as of a recent date by the Secretary of State or other appropriate official of the state of its organization, and a certificate as to the good standing of each from such Secretary of State or other official, in each case dated as of a recent date; (ii) a certificate of the Secretary of each of the Loan Parties, dated the Amendment Closing Date and certifying (A) that attached thereto is a true and complete copy of such Person's Charter Documents as in effect on the date of such certificate and at all times since a date prior to the date of the resolution described in item (B) below, (B) that attached thereto is a true and complete copy of a resolution adopted by such Person's Board of Directors or similar body authorizing the execution, delivery and performance of this Agreement, the Security Documents, the Notes, the other Loan Documents and the Credit Extension hereunder, as applicable, and that such resolution has not been modified, rescinded or amended and is in full force and effect, (C) that such Person's Charter Documents have not been amended since the date of the last amendment thereto shown on the certificate of good standing furnished pursuant to (i) above, and (D) as to the incumbency and specimen signature of each of such Person's officers executing this Agreement or any other Loan Document delivered in connection herewith or therewith, as applicable; (ii) a certificate of another of such Person's officers as to incumbency and signature of its Secretary; and (iii) such other documents as the Agent or any Lender may reasonably request.
(c) The Agent shall have received a certificate, satisfactory in form and substance to the Agent, with respect to the Solvency of the Loan Parties as of the Amendment Closing Date.
(d) The Agent shall be satisfied that any financial statements delivered to it fairly present the business and financial condition of the Loan Parties and that there has been no change sin...
Conditions of Credit Extensions. Conditions Precedent to Initial Credit Extension
Conditions of Credit Extensions. The obligation of each Lender to make its Credit Extension hereunder is subject to the condition that the Agent shall have received on or before the Closing Date the documents described in paragraphs (a) through (n) and (s) below, in form and substance satisfactory to the Agent and, to the extent specified below, each Lender (and in sufficient copies for each Lender), and in addition, the conditions set forth in paragraphs (o) through (r) shall have been fulfilled:
Conditions of Credit Extensions
