Common use of Conditions to establishment Clause in Contracts

Conditions to establishment. The establishment of an Accordion Increase will only be effected in accordance with Clause 3.3 (Establishment of Accordion Increase) if: (A) The Accordion Increase Effective Date is a date which is no later than 15 Business Days after the date on which the Accordion Increase Notice is delivered to the Senior Agent; (B) On the date of the Accordion Increase Notice and on the Accordion Increase Effective Date: (1) No Senior Facility Event of Default is continuing or would result from the establishment of the proposed Accordion Increase; (2) the Repeating Representations to be made by each Obligor are true in all respects; (3) the Senior Agent has received in form and substance satisfactory to the Senior Lenders such documents (if any) as are reasonably necessary as a result of the establishment of that Accordion Increase to maintain the effectiveness of the Security, guarantees, indemnities and other assurance against loss provided to the Finance Parties pursuant to the Finance Documents; (4) the Borrower has paid any upfront fee relating to the Accordion Increase set out in a Fee Letter between the Borrower and the Original Senior Lender; (5) hedging arrangements in respect of the Accordion Increase Amount have been entered into in accordance with the provisions of Clause 22.31 (Hedging), in commercial and legal terms satisfactory to the Original Senior Lender (acting reasonably) and any applicable premium due and payable under the relevant Cap Agreements has been duly paid. (C) The Senior Lenders shall promptly notify the Senior Agent upon being satisfied under paragraph 3.2(B)(3) above whereupon the Senior Agent shall promptly notify the Borrower of the same. (D) Other than to the extent that the Senior Lenders notify the Senior Agent in writing to the contrary before the Senior Agent gives the notification described in paragraph 3.2(C) above, the Senior Lenders authorise (but do not require) the Senior Agent to give that notification. The Senior Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving that notification.

Conditions to establishment. The establishment of an Accordion Increase will only be effected in accordance with Clause 3.3 ‎3.3 (Establishment of Accordion Increase) if: (A) The Accordion Increase Effective Date is a date which is no later than 15 Business Days after the date on which the Accordion Increase Notice is delivered to the Senior Agent; (B) On the date of the Accordion Increase Notice and on the Accordion Increase Effective Date: (1) No Senior Facility Event of Default is continuing or would result from the establishment of the proposed Accordion Increase; (2) the Repeating Representations to be made by each Obligor are true in all respects; (3) the Senior Agent has received in form and substance satisfactory to the Senior Lenders such documents (if any) as are reasonably necessary as a result of the establishment of that Accordion Increase to maintain the effectiveness of the Security, guarantees, indemnities and other assurance against loss provided to the Finance Parties pursuant to the Finance Documents; (4) the Borrower has paid any upfront fee relating to the Accordion Increase set out in a Fee Letter between the Borrower and the Original Senior Lender; (5) hedging arrangements in respect of the Accordion Increase Amount have been entered into in accordance with the provisions of Clause 22.31 ‎22.31 (Hedging), in commercial and legal terms satisfactory to the Original Senior Lender (acting reasonably) and any applicable premium due and payable under the relevant Cap Agreements has been duly paid. (C) The Senior Lenders shall promptly notify the Senior Agent upon being satisfied under paragraph 3.2(B)(3‎3.2(B)(3) above whereupon the Senior Agent shall promptly notify the Borrower of the same. (D) Other than to the extent that the Senior Lenders notify the Senior Agent in writing to the contrary before the Senior Agent gives the notification described in paragraph 3.2(C‎3.2(C) above, the Senior Lenders authorise (but do not require) the Senior Agent to give that notification. The Senior Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving that notification.