Conditions Precedent to Loans and Letters of Credit. 32 Section 3.1 Conditions To Effectiveness.................................................32 Section 3.2 Each Credit Event...........................................................33 Section 3.3 Delivery of Documents.......................................................34
Conditions Precedent to Loans and Letters of Credit. The agreement of each Bank to make the initial extension of credit requested to be made by it is subject to the satisfaction, prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent:
(a) The Administrative Agent (or its counsel) shall have received this Agreement duly executed by the Borrower and each other party hereto.
(b) The Administrative Agent (or its counsel) shall have received a certificate dated as of the Closing Date of the Secretary or an Assistant Secretary of the Borrower certifying (i) the names and true signatures of the Responsible Officers of the Borrower authorized to sign each Loan Document to which the Borrower is a party and the notices and other documents to be delivered by the Borrower pursuant to any such Loan Document; (ii) the operating agreement and certificate of formation of the Borrower as in effect on the date of such certification; (iii) the resolutions of the Board of Directors or equivalent thereof of the Borrower approving and authorizing the execution, delivery and performance by the Borrower of each Loan Document to which it is a party and any Notes from time to time issued hereunder and authorizing the borrowings and other transactions contemplated hereunder and (iv) that all material authorizations, approvals and consents by any Governmental Authority or other Person necessary in connection with the execution, delivery and performance of the Loan Documents and any other regulatory approvals in respect thereof required to be obtained prior to the Closing Date, have been obtained and are in full force and effect.
(c) The Administrative Agent shall have received an executed legal opinion, dated the Closing Date, of (i) Bxxxx Bxxxx LLP, special counsel to the Borrower and (ii) Rxxxx Xxxxx, Esq., deputy general counsel of the Borrower. Each such legal opinion shall cover such matters incident to the transactions contemplated by the Loan Documents as the Administrative Agent may reasonably require and shall otherwise be in form and substance reasonably satisfactory to the Administrative Agent.
(d) The Administrative Agent (or its counsel) shall have received a certificate dated on or about the Closing Date of the Secretary of State of the State of Texas as to the existence and good standing of the Borrower.
(e) The Administrative Agent shall have received, for the benefit of the lenders under the Existing Credit Agreement, all accrued interest and fees...
Conditions Precedent to Loans and Letters of Credit. In addition to the requirements of Section 5.01, the obligation of each Lender to make any Loan and the obligation of CIT or any Lender to assist the Borrower in obtaining the issuance of any Letter of Credit is subject to the fulfillment, in a manner satisfactory to the Agent, of each of the following conditions precedent:
Conditions Precedent to Loans and Letters of Credit. Section 3.1.
Conditions Precedent to Loans and Letters of Credit. Notwithstanding any other provision of this Agreement, the initial Loans will not be made, and no Letters of Credit will be issued, until the fulfillment of each of the following conditions prior to or contemporaneously with the making of the first to be made of such Loans or issuance of such Letters of Credit:
Conditions Precedent to Loans and Letters of Credit. Section 3.1. Conditions To Effectiveness. *
Conditions Precedent to Loans and Letters of Credit. 52
Section 3.1. Conditions To Effectiveness 52 Section 3.2. Each Credit Event 55 Section 3.3. Delivery of Documents 56
Conditions Precedent to Loans and Letters of Credit. The obligation of the Lender to make Loans or issue Letters of Credit hereunder shall be subject to the satisfaction of each of the following conditions:
Conditions Precedent to Loans and Letters of Credit. As a condition precedent to the Administrative Agent or any Lender making any Loan (including the initial Loans on the Effective Date), or the Agents assisting the Borrowers in establishing, or opening any Letter of Credit (including the initial Letters of Credit on the Effective Date), each of the following conditions precedent shall be fulfilled in a manner satisfactory to the Administrative Agent;
Conditions Precedent to Loans and Letters of Credit. 57
Section 3.1. Conditions To Effectiveness. 57 Section 3.2. Each Credit Event. 60 Section 3.3. Delivery of Documents. 61
