Common use of Conditions precedent to Release and Discharge of Security Clause in Contracts

Conditions precedent to Release and Discharge of Security. The conditions referred to in Clause 2.1.1 are that the Agent shall have received the following documents: (a) Corporate documents Certified Copies of all documents which evidence or relate to the constitution of the Borrower and each Owner and its current corporate existence; (b) Corporate authorities (i) Certified Copies of resolutions of the directors of each of the Borrower and each Owner approving this third Supplemental Agreement and such of the Security Documents to which such Security Party is a party and authorising the execution and delivery thereof and performance of such Security Party’s obligations thereunder, additionally certified by an officer of such Security Party as having been duly passed at a duly convened meeting of the directors of such Security Party and not having been amended, modified or revoked and being in full force and effect; and (i) originals or Certified Copies of any powers of attorney issued by any Security Party pursuant to such resolutions;

Conditions precedent to Release and Discharge of Security. The conditions referred to in Clause 2.1.1 2.1 are that the Agent shall have received the following documents: (a) Corporate documents Certified Copies of all documents which evidence or relate to the constitution of the Borrower and each Asteriks Owner and its current corporate existence; (b) Corporate authorities (i) Certified Copies of resolutions of the directors of each of the Borrower and each Owner the Asteriks Owners approving this third Supplemental Agreement and such of the New Security Documents to which such Security Party is a party and authorising the execution and delivery thereof and performance of such Security Party’s obligations thereunder, additionally certified by an officer of such Security Party as having been duly passed at a duly convened meeting of the directors of such Security Party and not having been amended, modified or revoked and being in full force and effect; and (iii) originals or Certified Copies of any powers of attorney issued by any Security Party pursuant to such resolutions;