Conditions Precedent to Initial Utilisation Clause Samples
The 'Conditions Precedent to Initial Utilisation' clause sets out specific requirements that must be satisfied before a borrower can access funds or benefits under an agreement. Typically, these conditions may include providing certain documents, obtaining regulatory approvals, or fulfilling other contractual obligations. By establishing clear prerequisites, this clause ensures that all necessary legal and practical steps are completed before the agreement is activated, thereby protecting the interests of the parties and reducing the risk of premature or improper utilisation.
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Conditions Precedent to Initial Utilisation. Other documents and evidence
Conditions Precedent to Initial Utilisation. The Borrower
Conditions Precedent to Initial Utilisation. The Company
Conditions Precedent to Initial Utilisation. (a) The Lender shall make available a Loan under the requested Facility in compliance with Section 5.4 (Lender’s Participation) if, on the date of the proposed Utilisation:
(i) there is no Event of Default or any continuing Event of Default;
(ii) all of the Representations, Warranties and covenants are valid and effective, or have otherwise been waived by the Lender (as the case may be);
(iii) the Lender has received all of the documents and other evidence listed in and appearing to comply with the requirements of Part A of Schedule 2.
Conditions Precedent to Initial Utilisation. (A) Corporate documentation
1. A copy of the constitutional documents of each Original Obligor.
2. A copy of a resolution of the board of directors or members (as applicable) of each Original Obligor:
(a) approving the terms of, and the transactions contemplated by, the Finance Documents to which it is a party and resolving that it execute, deliver and perform the Finance Documents to which it is a party;
(b) authorising a specified person or persons to execute the Finance Documents to which it is a party on its behalf;
(c) authorising a specified person or persons, on its behalf, to sign and/or despatch all documents and notices (including, if relevant, any Utilisation Request) to be signed and/or despatched by it under or in connection with the Finance Documents to which it is a party; and
(d) in the case of an Obligor other than the Borrower, authorising the Borrower to act as its agent in connection with the Finance Documents.
3. A specimen of the signature of each person authorised on behalf of an Original Obligor to enter into any Finance Document or to sign or send any document or notice in connection with any Finance Document.
4. A certificate of an authorised officer of each Original Obligor certifying that:
(a) each copy document specified in paragraph (A)(1) of this Schedule delivered by such Obligor is true and complete as in effect on the date of such certificate;
(b) each copy document specified in paragraph (A)(2) of this Schedule delivered by such Obligor is true and complete and has not been amended, annulled, rescinded or revoked and there exist no other resolutions of the Company relating to the matters set forth therein; and
(c) borrowing or guaranteeing or securing, as appropriate, the Total Commitments would not cause any borrowing, guarantee, security or similar limit binding on it to be exceeded.
5. A certificate of an authorised officer of the Borrower certifying that each copy document specified in paragraphs (C)(10), (D)(11), E(12) and (13), (G)(17) and (18) (to the extent applicable), (H)(19) and (J)(22) and (23) (to the extent applicable) of this Schedule provided to the BPIAE Agent is true and complete in all material respects and in full force and effect and (x) (with respect to the Satellite Supply Contract, the SpaceX Launch Contract, the Motorola Settlement Agreements and the Motorola IP 0080105-0000405 PA:20488617.7 172 Rights Agreement) has not been amended or superseded and (y) (with respect to any other document specif...
Conditions Precedent to Initial Utilisation. A copy of the constitutional documents of each Obligor.
Conditions Precedent to Initial Utilisation. 1. Blue Finance BV having acceded as the Original Borrower.
2. Each of Blue, Blue Finance BV and Blue Finance PLC having acceded as an Additional Guarantor.
3. A certificate of the Company (signed by an authorised signatory and dated the first Utilisation Date) confirming:
Conditions Precedent to Initial Utilisation. Original Obligors
Conditions Precedent to Initial Utilisation. Corporate documentation
Conditions Precedent to Initial Utilisation. The Borrower may not deliver a Utilisation Request for the initial utilisation hereunder unless the Facility Agent has received all of the documents and other evidence listed in and appearing to comply with the requirements of Schedule 2 (Conditions Precedent). The Facility Agent shall notify the Borrower and the Lenders promptly upon receiving such documents and other evidence.