CONDITIONS OF EFFECTIVENESS AND LENDING Clause Samples
The "Conditions of Effectiveness and Lending" clause defines the specific requirements that must be satisfied before a loan agreement becomes legally binding and before any funds are disbursed to the borrower. Typically, these conditions may include the submission of certain documents, regulatory approvals, or the fulfillment of pre-agreed covenants by the borrower. By setting out these prerequisites, the clause ensures that both parties are protected and that the lender only commits funds once all necessary safeguards and obligations have been met, thereby reducing the risk of default or non-compliance.
CONDITIONS OF EFFECTIVENESS AND LENDING. The obligations of the Lenders to make extensions of credit (including the initial extension of credit) hereunder are subject to the satisfaction of the following conditions:
CONDITIONS OF EFFECTIVENESS AND LENDING. 30 SECTION 4.1. Effectiveness..........................................30 SECTION 4.2. Initial Loans to Subsidiary Borrowers..................31 SECTION 4.3. All Credit Events......................................31 ARTICLE V COVENANTS.........................................................32 SECTION 5.1. Financial Statements...................................32 SECTION 5.2. Corporate Existence, Etc...............................34 SECTION 5.3. Insurance..............................................35 SECTION 5.4. Prohibition of Fundamental Changes.....................35 SECTION 5.5. Limitation on Liens....................................36 SECTION 5.6. Limitation on Subsidiary Indebtedness..................36 SECTION 5.7. Consolidated Coverage Ratio............................37 SECTION 5.8. Use of Proceeds........................................37 SECTION 5.9. Transactions with Affiliates...........................37
CONDITIONS OF EFFECTIVENESS AND LENDING. SECTION 3.01. Condition Precedent to Effectiveness of Section 2.01. ............................. 27 SECTION 3.02. Conditions Precedent to Each Borrowing .......... 29
CONDITIONS OF EFFECTIVENESS AND LENDING. 38 SECTION 3.1 Conditions Precedent to Effectiveness of this Agreement....................................38 SECTION 3.2 Conditions Precedent to Initial Advances...................................................38 SECTION 3.3 Conditions Precedent to Initial Advances to Any Borrowing Subsidiary.......................39 SECTION 3.4 Conditions Precedent to Each Borrowing.....................................................40
CONDITIONS OF EFFECTIVENESS AND LENDING. Conditions Precedent to Effectiveness of the Amendment and Restatement of this Agreement...................................................... 50 SECTION 3.02. Conditions Precedent to Each A Borrowing..................................... 51 SECTION 3.03. Conditions Precedent to Each B Borrowing..................................... 52
CONDITIONS OF EFFECTIVENESS AND LENDING. The obligations of the Lenders to make Loans (including the initial Borrowing) hereunder are subject to the satisfaction of the following conditions:
CONDITIONS OF EFFECTIVENESS AND LENDING. The effectiveness of this Agreement and the obligations of the Lenders to make Loans hereunder and of the Issuing Bank to issue Letters of Credit hereunder shall be subject to the following conditions precedent:
CONDITIONS OF EFFECTIVENESS AND LENDING. 78 4.01 All Events ........................ 78 4.02 Effectiveness ..................... 78
CONDITIONS OF EFFECTIVENESS AND LENDING. 43 SECTION 4.1. Effectiveness ...................................... 43 SECTION 4.2. Initial Loans to Subsidiary Borrowers ............
CONDITIONS OF EFFECTIVENESS AND LENDING. SECTION 3.01. Conditions Precedent to the Initial Extension of Credit SECTION 3.02. Conditions Precedent to Each Borrowing and Issuance SECTION 3.03. Determinations Under Section 3.01