Conditions of Initial Credit Extensions Clause Samples

Conditions of Initial Credit Extensions. The obligation of each Bank to make its initial Credit Extension hereunder is subject to the condition that the Agent have received on or before the Closing Date all of the following, in form and substance satisfactory to the Agent and each Bank, and in sufficient copies for each Bank:

Conditions of Initial Credit Extensions. The obligation of each Bank to make its initial Credit Extension under the Existing Credit Agreement was subject to the condition that the Agent shall have received on or before the date of the initial Credit Extension all of the following, in form and substance reasonably satisfactory to the Agent and each Bank, and in sufficient copies for each Bank:

Conditions of Initial Credit Extensions. The effectiveness of this Agreement and the obligation of each Lender to make its initial Loan hereunder and the obligation of the Issuing Lender to issue Letters of Credit hereunder, are subject to the condition that the Administrative Agent shall have received all of the following, in form and substance satisfactory to the Administrative Agent, and in sufficient copies for each Lender:

Conditions of Initial Credit Extensions. The obligation of the Bank to make its initial Credit Extension hereunder is subject to the condition that the Bank shall have received on or before the Closing Date all of the following, in form and substance satisfactory to the Bank: (a) This Agreement executed by each party thereto; (b) A photocopy of the bylaws (including all amendments thereto) of the (c) A certificate, dated the Effective Date, executed by the Secretary of the Company, certifying (with appropriate organizational resolutions attached thereto): (A) that all action required to be taken by the Company in connection with the authorization, execution, delivery and performance of this Agreement and the transactions contemplated hereby and thereby has been taken and (B) the names and true signatures of its respective officers authorized to execute, deliver and perform, as applicable, this Agreement, and all other documents and notices to be delivered by it hereunder; (d) A good standing certificate and tax good standing for the Company from the Department of Treasury of New Jersey and the Secretary of State (or similar applicable Governmental Authority) of each state where the Company is qualified to do business as a foreign corporation as of a recent date; (e) A photocopy of the bylaws (including all amendments thereto) of each Subsidiary Guarantor, certified by the Secretary of such Subsidiary Guarantor; and such Subsidiary Guarantor's certificate of incorporation (and all amendments thereto), certified by the applicable Governmental Authority of the state where such Subsidiary Guarantor was organized; (f) A certificate, dated the Effective Date, executed by the Secretary of each Subsidiary Guarantor, certifying (with appropriate organizational resolutions attached thereto): (A) that all action required to be taken by such Subsidiary Guarantor in connection with the authorization, execution, delivery and performance of the Subsidiary Guaranty and the transactions contemplated thereby has been taken and (B) the names and true signatures of its respective officers authorized to execute, deliver and perform, as applicable, the Subsidiary Guaranty, and all other documents and notices to be delivered by it thereunder; (g) A good standing certificate and tax good standing for each Subsidiary Guarantor from the Secretary of State (or similar applicable Governmental Authority) of each state where such Subsidiary Guarantor is organized and is qualified to do business as a foreign corporation as of ...

Conditions of Initial Credit Extensions. The obligation of each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent:

Conditions of Initial Credit Extensions. The obligations of the Lenders to make the initial Loans and of the Issuing Lender to issue or continue its initial Letters of Credit hereunder shall not become effective until the date on which the Administrative Agent and the Collateral Agent shall have received each of the following documents, each of which shall be satisfactory to the Administrative Agent in form and substance (or such condition shall have been waived in accordance with Section 10.05):

Conditions of Initial Credit Extensions. Subject to Section 5.2, the --------------------------------------- obligation of each Bank to make its initial Loan hereunder are subject to the condition that the Agent shall have received on or before the Closing Date all of the following, in form and substance satisfactory to the Agent and each Bank (except where the form and content of a document is specified herein), and in sufficient copies for each Bank:

Conditions of Initial Credit Extensions. The obligation of each Lender and the Letter of Credit Issuer to make any initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent: (a) The Administrative Agent’s receipt of the following items (except those items that are expressly permitted to be delivered after the Closing Date pursuant to the Post-Closing Agreement), each properly executed by a Responsible Officer of the applicable Loan Party, each dated as of the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance satisfactory to the Administrative Agent in its discretion: (i) executed counterparts of this Agreement, each of the Security Instruments and the Master Intercompany Note; (ii) executed counterparts of the Term Loan Intercreditor Agreement, the Term Loan Agreement, and the other Term Loan Documents; (iii) Notes executed by the Borrowers in favor of each Lender requesting a Note; (iv) such certificates of resolutions or other action, incumbency certificates (including specimen signatures), and/or other certificates of Responsible Officers of each Loan Party as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which such Loan Party is a party; (v) such documents and certifications as the Administrative Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing, in good standing and qualified to engage in business in its jurisdiction of organization and in any other jurisdiction in which the failure to be so qualified could reasonably be expected to have a Material Adverse Effect, including certified copies of such Loan Party’s Organization Documents, agreements among holders of Equity Interests, certificates of good standing and qualification to engage in business in each applicable jurisdiction; (vi) a favorable opinion of ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇ LLP, New York, California and Delaware counsel to the Loan Parties, ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇ LLP, Ohio counsel to the Loan Parties, and ▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP, Minnesota counsel to the Loan Parties, in each case, addressed to the Administrative Agent and each Lender and their successors and assigns, as to the matters concerning the Loan Parties and the Loan Documents as the...

Conditions of Initial Credit Extensions. The obligation of each Lender to make its initial Credit Extension hereunder, and to receive through the Administrative Agent the initial Bid Request, is subject to the condition that the Administrative Agent shall have received on or before the date of the initial Credit Extension or Bid Request all of the following, in form and substance satisfactory to the Administrative Agent and each Lender, and in sufficient copies for each Lender: