CONDITIONS PRECEDENT TO FUNDING definition

CONDITIONS PRECEDENT TO FUNDING. The DIP Facility shall be subject to the following conditions precedent, all of which shall be for the benefit of the Lender and shall be satisfied on or prior to the advance of the Principal Amount of the DIP Facility: (a) a Court of competent jurisdiction shall have issued an order or orders, in form and substance acceptable to the Lender pursuant to the BIA on or before March 6, 2015 in relation to the Borrower (the “DIP Order”), extending the time for filing a Proposal until at least May 5, 2015 (except as hereinafter expressly provided in favour of the Lender) against the Borrower and its assets and shall include: (i) provisions approving this DIP Term Sheet and the DIP Facility created herein and the execution and delivery by the Borrower of such other documents as the Lender deems necessary or appropriate, acting reasonably; (ii) provisions granting to the Lender, as security for this DIP Facility, fixed and floating charges, mortgages, general security interests and hypothecs or the equivalent thereof, on all present and future assets of the Borrower, real or personal, wherever situate, in the manner and having the priority as set out herein, including as further described below (the “DIP Charge”); (iii) provisions authorizing and directing the Borrower to execute and deliver such loan, guarantee and security documents relating to the DIP Facility and such security documents evidencing the DIP Charge in such form and substance as the Lender may reasonably require; (iv) provisions authorizing the Lender to effect registrations, filings and recordings wherever in their discretion they deem appropriate regarding the DIP Charge;
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CONDITIONS PRECEDENT TO FUNDING. CIBC's obligation to provide increased Availments shall be subject to the following conditions precedent being met, unless waived in writing by CIBC: * execution of the Financing Commitment; * the Security in form and substance satisfactory to CIBC; * the receipt by CIBC of a duly executed environmental certificate in CIBC's standard form; * no Event of Default shall have occurred nor any event which, after notice or lapse of time or both, would become an Event of Default; and * the appropriate notice of borrowing shall have been delivered in accordance with the notice provisions provided herein.
Sample 1

Examples of CONDITIONS PRECEDENT TO FUNDING in a sentence

  • ARTICLE IV: REPRESENTATIONS AND WARRANTIES OF THE PURCHASER AND CONDITIONS PRECEDENT TO FUNDING * Section 4.01 Representations and Warranties of Purchaser.

  • CONDITIONS PRECEDENT TO FUNDING OF ADVANCES WITH RESPECT TO ADDITIONAL ELIGIBLE RESORTS.

  • CONDITIONS PRECEDENT TO FUNDING OF DEMAND LOANS...................

  • CONDITIONS PRECEDENT TO FUNDING OF LOAN.......................26 4.01 Conditions to Funding of Loan.

  • CONDITIONS PRECEDENT TO FUNDING: Limited to those conditions set forth in Section 1(c) of the Commitment Letter, plus the conditions set forth below (the date upon which all such conditions precedent to funding shall be satisfied and the funding of the Bridge Loan occurs, the "Closing Date"): 1.

  • GENERAL TERMS AND CONDITIONS: THE FOLLOWING IS A SUMMARY OF THE KEY TERMS AND CONDITIONS PRECEDENT TO FUNDING THE SUBJECT LOAN (SEE PP.

  • CONDITIONS PRECEDENT TO FUNDING UNDER FACILITY B: - Either a) equity offering or subordinated debt issuance (strong letter of intent may be acceptable) of a minimum of $10,000,000 or b) tangible net worth exceeds $20,000.000.

  • CONDITIONS PRECEDENT TO FUNDING: Usual and customary for transactions of this nature, including but not limited to the following: Lenders shall have received audited financial statements of pre-Merger Syratech for the fiscal years ending in 1991 through 1996, in form and substance satisfactory to them and, as to fiscal year 1996, reflecting at least achievement of all material aspects of pre-Merger Syratech's business plan for such fiscal year.

  • As an abelian Lie group the subgroup P+ of P formed by all unipotent matrices is seen to be isomorphic to g1 = (Rn)∗, and since P+ is a normal subgroup of P one gets the semidirect decomposition P = SL(n) n (Rn)∗.The P -associated bundle to the 1-dimensional representation which in-n+1finitesimally maps In to multiplication with w n is denoted by E[w]-itsspace of sections S [w] is the space of projective w-densities.5.1.1. The adjoint tractor bundle and curvature.

Related to CONDITIONS PRECEDENT TO FUNDING

  • Conditions Precedent shall have the meaning set forth in Clause 4.2.

  • Closing Conditions shall include, but are not limited to, SI Securities determining in its sole discretion that at the time of a closing, the Minimum Offering has been met, the investment remains suitable for investors, investors have successfully passed ID, KYC, AML, OFAC, and suitability screening, and that Issuer has completed all actions required by it as communicated by SI Securities at the time of a closing.

  • Funding Conditions With respect to any proposed Funding Date, the following conditions:

  • Special Conditions of Contract means the pages completed by the Procuring Entity entitled Special Conditions of Contract which constitute Part A of the Special Conditions.

  • Special Conditions means Special Conditions of Contract, which override the General Conditions, also referred to as SCC.

  • GENERAL AND SPECIAL CONDITIONS OF CONTRACT means the instructions to Tenderer and General and special conditions of contract pertaining to the work for which above tenders have been called for.

  • General Conditions of Contract means the ‘Instructions to Tenderers’ and ‘General Conditions of Contract’ pertaining to the work for which above tenders have been called for.

  • Supplemental Conditions means those terms and conditions, if included in the Agreement by mutual written agreement of the Parties, which add to or modify the Agreement and are incorporated by reference as if fully set forth in the Agreement. In the case of a conflict between the Supplemental Conditions and the Agreement, the Supplemental Conditions shall prevail.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Litigation Conditions has the meaning set forth in Section 11.3.

  • Conditions of Sale means the Conditions of Sale set out in Part 3 of this TenderDocument;

  • Specific Conditions means the conditions in addition or in variation to the general conditions which the Commission may lay down specifically for a distribution licensee;

  • Conditions of Approval means condition(s) imposed by the Municipality in the approval of a land development application, including any conditions contained in the annexure(s) and/or plans and/or attachment(s) that form part of the approval and/or are referred to in the approval of the land development application;

  • Mortgage Conditions means the mortgage conditions booklet reference MORT 0154 MAY 13 HF;

  • General Conditions means the “International Development Association General Conditions for Credits and Grants”, dated July 1, 2005 (as amended through October 15, 2006).

  • Redemption Conditions means, with respect to any payment of cash in respect of the principal amount of any Permitted Convertible Debt, satisfaction of each of the following events: (a) no Default or Event of Default shall exist or result therefrom, and (b) both immediately before and at all times after such redemption, Borrower’s Qualified Cash shall be no less than the sum of 150% of the outstanding Secured Obligations plus the Qualified Cash A/P Amount.

  • Conditions of Contract means those statements contained in or delivered with your Ticket/s or Itinerary/Receipt, identified as such and which incorporate by reference, these Conditions of Carriage and notices.

  • Additional Conditions means the terms and conditions set out in the Offer Document.

  • Refinancing Conditions the following conditions for Refinancing Debt: (a) it is in an aggregate principal amount that does not exceed the principal amount of the Debt being extended, renewed or refinanced; (b) it has a final maturity no sooner than, a weighted average life no less than, and an interest rate no greater than, the Debt being extended, renewed or refinanced; (c) it is subordinated to the Obligations at least to the same extent as the Debt being extended, renewed or refinanced; (d) the representations, covenants and defaults applicable to it are no less favorable to Borrowers than those applicable to the Debt being extended, renewed or refinanced; (e) no additional Lien is granted to secure it; (f) no additional Person is obligated on such Debt; and (g) upon giving effect to it, no Default or Event of Default exists.

  • Extension Conditions Defined in Section 3.06(a).

  • Terms & Conditions means the Special Conditions of Contract and General Conditions of Contract herein mentioned and other stipulations incorporated in any part of Tender Document and /or Agreement.

  • Release Conditions mean the following conditions: (i) Company has received the Executive’s executed Release and (ii) any rescission period applicable to the Executive’s executed Release has expired.

  • Closing Checklist means the schedule, including all appendices, exhibits or schedules thereto, listing certain documents and information to be delivered in connection with the Agreement, the other Loan Documents and the transactions contemplated thereunder, substantially in the form attached hereto as Annex D.

  • Conditions of Tender means the Conditions of Tender for the said land as set out in Annexure A;

  • Conditions of Use means these terms and conditions as may be varied by us from time to time.