Conditions Term of Agreement. 46 3.1 Conditions Precedent to the Initial Extension of Credit .............................. 46 3.2 Conditions Subsequent to the Initial Extension of Credit ............................. 48 3.3 Conditions Precedent to all Extensions of Credit ..................................... 48 3.4 Term ................................................................................. 49 3.5
Conditions Term of Agreement. 3.1 Conditions Precedent to the Initial Advance, and Letter of Credit, and the Term Loan. The obligation of Foothill to make the initial Advance, to issue the initial Letter of Credit, or to make the Term Loan is subject to the fulfillment, to the satisfaction of Foothill and its counsel, of each of the following conditions on or before the Closing Date:
(a) the Closing Date shall occur on or before January 17, 1997;
(b) Foothill shall have received confirmation of the filing of its financing statements and fixture filings;
(c) Foothill shall have received each of the following documents, duly executed, and each such document shall be in full force and effect:
(1) if and to the extent available on or before the Closing Date, the Lockbox Agreements;
(2) the Disbursement Letter;
(3) the Pay-Off Letter, together with UCC termination statements and other documentation evidencing the termination by Existing Lender of its Liens in and to the properties and assets of Borrower and its Subsidiaries and the termination of any lockbox or other dominion account arrangements in favor of Existing Lender;
(4) either (y) the IG Australia Existing Lender Pay-Off Letter, together with termination statements and other documentation evidencing the termination by IG Australia Existing Lender of its Liens in and to the properties and assets of Borrower and its Subsidiaries, or (z) satisfactory evidence of the consent of IG Australia Existing Lender to the refinancing by Borrower of its Indebtedness owed to Existing Lender pursuant hereto and the transactions contemplated hereby;
(5) the Mortgage on the Huntsville Property, and such Mortgage shall have been recorded in the office of the county recorder for Madison County, Alabama; and, if and to the extent available on or before the Closing Date, a Mortgage Policy in respect of the Huntsville Property assuring Foothill that the Mortgage on the Huntsville Property is a valid and enforceable first priority mortgage Lien on the Huntsville Property free and clear of all defects and encumbrances except Permitted Liens, and such Mortgage Policy shall otherwise be in form and substance reasonably satisfactory to Foothill;
(6) the Aircraft Security Agreement;
(7) the Copyright Security Agreement;
(8) the Patent Security Agreement;
(9) the Trademark Security Agreement;
(10) the Pledge Agreement; and
(11) the VCOC Letter;
(d) if and to the extent available on or before the Closing Date, Foothill shall have received the original certificat...
Conditions Term of Agreement. 15 3.1 Conditions Precedent to the Initial Extension of Credit........ 15 3.2
Conditions Term of Agreement. 37 3.1 Conditions Precedent to the Initial Extension of Credit 37 3.2 Conditions Precedent to all Extensions of Credit 37 3.3 Maturity 38 3.4 Effect of Maturity 38 3.5 Early Termination by Borrowers 38
Conditions Term of Agreement. 23 3.1 Conditions Precedent to the Initial Extension of Credit.........23 3.2 Conditions Precedent to all Extensions of Credit................23 3.3 Term............................................................24
Conditions Term of Agreement. 47 3.1. Conditions Precedent to the Initial Advance and Issuance of the Initial Letter of Credit..........................................47 3.2. Conditions Precedent to all Advances and all Letters of Credit....49 3.3.
Conditions Term of Agreement. 3.1 Conditions Precedent to the Initial Extension of Credit
3.2 Conditions Precedent to all Extensions of Credit
3.3 Term
3.4 Effect of Termination
3.5 Early Termination by Borrower
Conditions Term of Agreement. 31 3.1 Conditions Precedent to the Initial Extension of Credit 31 3.2 Conditions Precedent to all Extensions of Credit 31 3.3 Maturity 32 3.4 Effect of Maturity 32 3.5 Early Termination by Borrowers 32 4. REPRESENTATIONS AND WARRANTIES. 32 4.1 Due Organization and Qualification; Subsidiaries 32 4.2 Due Authorization; No Conflict. 33 4.3 Governmental Consents 33 4.4 Binding Obligations; Perfected Liens 34 4.5 Title to Assets; No Encumbrances 34 4.6 Jurisdiction of Organization; Location of Chief Executive Office and Tangible Assets; Organizational Identification Number; Commercial Tort Claims 34 4.7 Litigation 35 4.8 Compliance with Laws 35 4.9 No Material Adverse Change 35 4.10 Solvency 35 4.11 Employee Benefits 35 4.12 Environmental Condition 35 4.13 Intellectual Property 36 4.14 Leases 36 4.15 Deposit Accounts and Securities Accounts 36 4.16 Complete Disclosure 36 4.17 Material Contracts 36 4.18 Patriot Act; etc 37 4.19 [Reserved] 37 4.20 Payment of Taxes 37 4.21 Margin Stock 37 4.22 Governmental Regulation 37 4.23 OFAC 37 4.24 Employee and Labor Matters 38 4.25 Eligible Accounts 38 4.26 Eligible Inventory 38 4.27 Locations of Inventory and Equipment 38 4.28 Inventory Records 38 4.29 Common Enterprise 38 4.30 Eligible Equipment 39 4.31 Eligible Real Property 39 4.32 Specified Equipment Lease Documents 39 5. AFFIRMATIVE COVENANTS. 39 5.1 Financial Statements, Reports, Certificates 39 5.2 Collateral Reporting 39 5.3 Existence 39 5.4 Maintenance of Properties 39 5.5 Taxes 39 5.6 Insurance 40 5.7 Inspection 40 5.8 Compliance with Laws 40 5.9 Environmental 40 5.10 Reserved 41 5.11 Formation of Subsidiaries 41 5.12 Further Assurances 42 5.13 Lender Meetings 42 5.14 Material Contracts 42 5.15 Location of Inventory and Equipment 42 6. NEGATIVE COVENANTS. 43 6.1 Indebtedness 43 6.2 Liens 43 6.3 Restrictions on Fundamental Changes. 43 6.4 Disposal of Assets 43 6.5 Change Name 44 6.6 Nature of Business 44 6.7 Certain Payments of Debt and Amendments 44 6.8 Change of Control 45 6.9 Restricted Payments 45 6.10 Accounting Methods 46 6.11 Investments; Controlled Investments 46
Conditions Term of Agreement. 28 3.1 Conditions Precedent to the Initial Advance.......................................................... 28 3.2 Conditions Precedent to all Advances................................................................. 32 3.3
Conditions Term of Agreement. 3.1 Conditions Precedent to the Initial Advance. 3.2 Conditions Precedent to all Advances. 3.3
