CONDITIONS PRECEDENT TO LENDING definition

CONDITIONS PRECEDENT TO LENDING o The completion of a successful public offering of the Borrower's common stock, yielding at least $17,000,000 in proceeds, of which 40% will be distributed to Odetics, Inc., as repayment on intercompany debt; o Evidence, satisfactory to Bank, of the perfection of all security interests granted to Bank. o Completion of documentation.
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CONDITIONS PRECEDENT TO LENDING. Each Loan will be subject to the following: 1. No material adverse change in the financial condition, operations or prospects of the Borrower prior to funding. The Lender reserves the right to rescind any unused portion of its commitment in the event of a material adverse change in the financial condition, operation or prospects of the Borrower.
Sample 1
CONDITIONS PRECEDENT TO LENDING. Receipt by the Lender of the following, in form and substance satisfactory to Lender.
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Examples of CONDITIONS PRECEDENT TO LENDING in a sentence

  • Section 5.1 Liens 52 Section 5.2 The Collateral Accounts; Drawdowns 52 Section 5.3 Agreement to Deliver Additional Collateral Documents 53 Section 5.4 Subordination 53 ARTICLE VI CONDITIONS PRECEDENT TO LENDING.

  • CONDITIONS PRECEDENT TO LENDING 6.1 Obligations of the Lenders 66 6.2 Conditions to all Loans 69 6.3 Conditions to Qualified Borrower Loans 69 SECTION 7.

  • CONDITIONS PRECEDENT TO LENDING 6.1 Obligations of the Lenders 64 6.2 Conditions to all Loans 66 6.3 Conditions to Qualified Borrower Loans 67 SECTION 7.

  • CONDITIONS PRECEDENT TO LENDING 6.1 Obligations of the Lenders 8180 6.2 Conditions to all Loans 8483 6.3 Conditions to Qualified Borrower Loans 84 SECTION 7.

  • CONDITIONS PRECEDENT TO LENDING: Including but not limited to: 1.) Satisfactory completion of our credit and financial investigation, which at the sole discretion of Bank, shall evidence that all information provided by the Company is accurate.

  • CONDITIONS PRECEDENT TO LENDING 85 7.01 Obligation of Lenders 85 7.02 [Intentionally Omitted] 88 7.03 All Loans and Letters of Credit 88 7.04 Qualified Borrower Loans and Letters of Credit 90 7.05 Addition of Feeder Funds 92 SECTION 8.

  • Section 5.1 Liens 53 Section 5.2 The Collateral Accounts; Drawdowns 54 Section 5.3 Agreement to Deliver Additional Collateral Documents 55 Section 5.4 Subordination 55 ARTICLE VI CONDITIONS PRECEDENT TO LENDING.

  • No overall endangerment of the geological safety from the repository itself except maybe for the gas related FEPs.

  • CONDITIONS PRECEDENT TO LENDING 6.1 Obligations of the Lenders 77 6.2 Conditions to all Loans and Letters of Credit 79 6.3 Conditions to Qualified Borrower Loans and Letters of Credit 79 SECTION 7.

  • Section 5.2 The Collateral Accounts; Drawdowns 5256 Section 5.3 Agreement to Deliver Additional Collateral Documents 5356 Section 5.4 Subordination 5357 ARTICLE VI CONDITIONS PRECEDENT TO LENDING.


More Definitions of CONDITIONS PRECEDENT TO LENDING

CONDITIONS PRECEDENT TO LENDING. Each Loan will be subject to the following: 1. No material adverse change in the financial condition, operations or prospects of the Borrower prior to funding. The Lender reserves the right to rescind any unused portion of its commitment in the event of a material adverse change in the financial condition, operation or prospects of the Borrower. 2. Completion of the documentation and final terms of the proposed financing satisfactory to Lender and Lender's counsel. 3. Results of all due diligence, including lien, judgment and tax search and other matters Lender may request shall be satisfactory to Lender and Lender's counsel. 4. Receipt by Lender of duly executed loan documentation in form and substance satisfactory to Lender and its counsel.
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Related to CONDITIONS PRECEDENT TO LENDING

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

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

  • 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.

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

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

  • 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;

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

  • 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).

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

  • 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;

  • Extension Conditions Defined in Section 3.06(a).

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

  • 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.

  • Insurance Requirements means, collectively, all provisions of the Insurance Policies, all requirements of the issuer of any of the Insurance Policies and all orders, rules, regulations and any other requirements of the National Board of Fire Underwriters (or any other body exercising similar functions) binding upon each Loan Party which is an owner of Mortgaged Property and applicable to the Mortgaged Property or any use or condition thereof.

  • Conditions of Use means Conditions 1 to 10 and the Schedules and Appendices of this document.

  • 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.

  • 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.

  • 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.

  • 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.

  • Conditions means these terms and conditions;

  • Special Condition means a condition of a Transporter's Licence or Shipper's Licence other than a Standard Condition;

  • Credit Requirements means a long-term credit rating (corporate or long-term senior unsecured debt) of (1) “Baa3” or greater by Xxxxx’x, or (2) “BBB-” or greater by S&P, or such other indicia of creditworthiness acceptable to PacifiCorp in its reasonable judgment.