Common use of Conditions Precedent to Initial Advance Clause in Contracts

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgage; (d) financing statements (Forms UCC-1); (e) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; and (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation --------------------------------------- of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgage; (d) financing statements an audit of Borrower's Accounts (Forms UCC-1condition only as to an Advance under Section 2.2); (e) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 2.6 hereof; and (hg) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagean intellectual property security agreement; (d) warrant to purchase stock and related agreements as shall be requested by Bank; (e) financing statements (Forms UCC-1); (ef) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 2.6 hereof; and (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to --------------------------------------- make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagefinancing statement (Form UCC-1); (d) financing statements (Forms UCC-1)an intercreditor agreement; (e) insurance certificate; (f) an accounts receivable auditaudit of Borrower's Accounts; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; and (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagenegative pledge agreement in substantially the same form as Exhibit E attached hereto; (d) financing statements statement (Forms Form UCC-1); (e) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; and (hg) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this AgreementAgreement duly executed and delivered by Borrower; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgage; (d) financing statements (Forms UCC-1); (d) a Year 2000 Survey; (e) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due as specified in Section 2.5 hereof; (g) an audit of the Accounts, the results of which shall be satisfactory to Bank; and (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagean intellectual property security agreement; (d) financing statements (Forms UCC-1); (e) insurance certificate; (f) an accounts receivable audita copy of Borrower's final Leasehold Improvements budget; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; and (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagean intellectual property security agreement; (d) accounts receivable audit with results satisfactory to Bank; (e) financing statements statement (Forms UCC-1); (ef) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; (h) timely receipt of the Payment/Advance Form as provided in Section 2.1; and (hi) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement, the Working Capital Promissory Note and the Equipment Line Promissory Note each duly executed by Borrower; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagefinancing statements (Forms UCC-l); (d) financing statements (Forms UCC-1insurance certificate(s); (e) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; and; (hf) and such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgageconfirmation that Borrower has received net proceeds from the sale or issuance of equity securities in an aggregate amount not less than Two Million Five Hundred Thousand Dollars ($2,500,000); (d) financing statements (Forms UCC-1); (e) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 2.4 hereof; and (he) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of --------------------------------------- Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagean intellectual property security agreement; (d) an audit of Borrower's Accounts; (e) financing statements statement (Forms Form UCC-1); (ef) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; and (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of either Bank to make the initial Advance is subject to the condition precedent that such Bank shall have received, in form and substance satisfactory to such Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagethe Optional Currency Rate Instruments (with respect to Optional Currency Rate Advances only); (d) financing statements (Forms UCC-1)an opinion of Borrower's counsel; (e) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof, provided reasonably detailed invoices are received; and (hf) such other documents, and completion of such other matters, as Bank Banks may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to articles, bylaws, incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagenegative pledge agreement covering intellectual property; (d) financing statements (Forms UCC-1); (e) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section SECTION 2.5 hereof; and (hg) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagean audit of Borrower's Accounts at Borrower's expense; (d) intellectual property security agreement; (e) financing statements statement (Forms Form UCC-1); (ef) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; and (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to articles, bylaws, incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgagenegative pledge agreement substantially in the same form as Exhibit E hereto; (d) financing statements statement (Forms Form UCC-1); (e) insurance certificate; (f) an accounts receivable Collateral audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; and (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: (a) this Agreement; (b) the Revolving Promissory Note; (c) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (cd) a collateral assignment and patent mortgagean opinion of Borrower's counsel; (de) financing statements (Forms UCC-1); (ef) insurance certificate; (f) an accounts receivable audit; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 2.6 hereof; and (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

Conditions Precedent to Initial Advance. The obligation of Bank --------------------------------------- to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and for substance satisfactory to Bank, the following: (a) this Agreement; (b) a certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) a collateral assignment and patent mortgage; (d) financing statements statement (Forms Form UCC-1); (e) insurance certificatesubordination agreements from certain Persons; (f) an accounts receivable auditinsurance certificate; (g) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; and (h) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.