Conditions Precedent to Any Advance. The obligation of Lender to make an initial Advance hereunder is subject to the satisfaction of each of the following conditions precedent before or concurrently with the Advance: (a) A Promissory Note in the form of Exhibit A shall have been duly executed by Borrower and delivered to Lender, with the original Note to be held by Lender; (b) Copies of resolutions of the Board of Directors and written consents of the Managers of each of the Borrowers approving this Agreement, the Promissory Note, and each and every other document necessary to effectuate this Agreement and the Promissory Note shall have been delivered to Lender; and (c) Such financial, business and other information regarding Borrower as Lender shall have reasonably requested shall have been delivered to Lender.
Appears in 2 contracts
Sources: Credit Agreement (Bespoke Capital Acquisition Corp), Credit Agreement (Bespoke Capital Acquisition Corp)