Common use of Further conditions precedent Clause in Contracts

Further conditions precedent. Subject to Clause 4.1 (Initial conditions precedent), the Lenders will only be obliged to comply with Clause 5.4 (Lenders' participation) if on the date of the Utilisation Request and on the proposed Utilisation Date: (a) no Default is continuing or would result from the proposed Loan; (b) the Repeating Representations to be made by the Borrower are true in all material respects; (c) no Material Adverse Effect or Material Adverse Change is likely to occur or has occurred and is continuing; (d) no Sinosure Policy Event is likely to occur or has occurred and is continuing; (e) (in relation to each Utilisation after the first Utilisation) Sinosure shall have received in full the Sinosure Premium payable under the Sinosure Policy; (f) the Sinosure Policy remains in full force and effect and there is no outstanding notice from Sinosure which requires any Lender to suspend the provision of any Utilisation under the Facility; and (g) evidence that the Project Owner has made sufficient payment (the “Self-raised Fund”) to the Contractor without utilizing the proceeds of the Facility such that the ratio of the aggregate Self-raised Fund to the proposed amount of the Utilisation shall not be lower than 15:85.

Further conditions precedent. Subject to Clause 4.1 (Initial conditions precedent), the Lenders will only be obliged to comply with Clause 5.4 (Lenders' participation) if on the date of the Utilisation Request and on the proposed Utilisation Date: (a) no Default is continuing or would result from the proposed Loan; (b) the Repeating Representations to be made by the Borrower are true in all material respects; (c) no Material Adverse Effect or Material Adverse Change is likely to occur or has occurred and is continuing; (d) no Sinosure Policy Event is likely to occur or has occurred and is continuing; (e) (in relation to each Utilisation after the first Utilisation) Sinosure shall have received in full the Sinosure Premium payable under the Sinosure Policy; ; and (f) the Sinosure Policy remains in full force and effect and there is no outstanding notice from Sinosure which requires any Lender to suspend the provision of any Utilisation under the Facility; and (g) evidence that the Project Owner has made sufficient payment (the “Self-raised Fund”) to the Contractor without utilizing the proceeds of the Facility such that the ratio of the aggregate Self-raised Fund to the proposed amount of the Utilisation shall not be lower than 15:85.