Conditions to Initial Credit Extensions Sample Clauses

Conditions to Initial Credit Extensions. The obligation of each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent:

Conditions to Initial Credit Extensions. The obligation of the L/C Issuer and each Lender to make its initial Credit Extension hereunder is subject to the satisfaction of the following conditions precedent: (a) Receipt by the Administrative Agent of the following, each in form and substance satisfactory to the Administrative Agent and each Lender:

Conditions to Initial Credit Extensions. The obligation of each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent: (a) The Administrative Agent’s receipt of the following, each of which shall be originals or facsimiles (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each dated as of the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance reasonably satisfactory to the Administrative Agent and its legal counsel: (i) executed counterparts of this Agreement and a Guaranty from each Guarantor, as applicable; (ii) a Note executed by the Borrower in favor of each Lender requesting a Note; (iii) the Security Agreement, duly executed by each Loan Party, together with (subject to the last paragraph of this Section 4.01): (A) certificates representing the Pledged Interests referred to therein accompanied by undated stock powers executed in blank and instruments evidencing the Pledged Debt indorsed in blank, (B) copies of proper financing statements, filed or duly prepared for filing under the Uniform Commercial Code in all jurisdictions that the Administrative Agent may deem reasonably necessary in order to perfect and protect the Liens created under the Security Agreement, covering the Collateral described in the Security Agreement, (C) evidence that all other actions, recordings and filings of or with respect to the Security Agreement that the Administrative Agent may deem reasonably necessary or desirable in order to perfect and protect the Liens created thereby shall have been taken, completed or otherwise provided for in a manner reasonably satisfactory to the Administrative Agent (including, without limitation, receipt of duly executed payoff letters and UCC-3 termination statements); (iv) the Intellectual Property Security Agreement, duly executed by each Loan Party, together with (subject to the last paragraph of this Section 4.01) evidence that all action that the Administrative Agent in its reasonable judgment may deem reasonably necessary or desirable in order to perfect and protect the Liens created under the Intellectual Property Security Agreement has been taken; (v) such customary certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Loan Party as the Administrative Agent may ...

Conditions to Initial Credit Extensions. The obligation of each Lender and the Letter of Credit Issuer to make its initial Credit Extension hereunder is subject to the conditions precedent that Administrative Agent shall have received, on or before the Closing Date, the following:

Conditions to Initial Credit Extensions. The obligation of the each Lender to make its initial Credit Extension under, and the effectiveness of, this Agreement shall be subject to the condition that the Administrative Agent shall have received all of the following, in form and substance satisfactory to the Administrative Agent, each Lead Arranger and each Lender, and (except for the Notes) in sufficient copies for each Lender, on or before May 30, 2014:

Conditions to Initial Credit Extensions. The effectiveness of this Credit Agreement is subject to satisfaction of the following conditions precedent:

Conditions to Initial Credit Extensions. The obligation of the L/C Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent: (a) The Agent’s receipt of the following, each of which shall be originals or facsimiles (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the Borrower or the applicable Guarantor, each dated the Initial Funding Date (or, in the case of certificates of governmental officials, a recent date before the Initial Funding Date) and each in form and substance satisfactory to the Agent and each of the Lenders: (i) the Borrower Assignment and Assumption executed by M▇▇▇▇▇ Navigation and Matson; (ii) a Guaranty executed by M▇▇▇▇▇ Navigation, M▇▇▇▇▇ Terminals, Inc., a Hawaii corporation, M▇▇▇▇▇ Ventures, Inc., a Hawaii corporation and Matson Logistics, Inc., a Hawaii corporation; (iii) a Note executed by Matson in favor of each Lender requesting a Note; (iv) such certificates of resolutions or other action, incumbency certificates with specimen signatures and/or other certificates of the secretary or assistant secretary of each Loan Party as the Agent may require evidencing the identity, authority and capacity of each Authorized Officer thereof authorized to act as an Authorized Officer in connection with this Agreement and the other Loan Documents; (v) such documents and certifications as the Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing and in good standing in its jurisdiction of organization; (vi) favorable opinions of G▇▇▇▇▇, D▇▇▇ & C▇▇▇▇▇▇▇ LLP and Cades S▇▇▇▇▇▇ LLP, addressed to the Agent and each Lender, as to such matters concerning the Loan Parties and the Loan Documents as the Lenders may reasonably request; (vii) a certificate of a Responsible Officer of Matson either (A) attaching copies of all documents evidencing other necessary approval or consents with respect to the Loan Documents and the Restructuring Transactions or (B) stating that no such approvals or consents are so required; and (viii) a certificate signed by a Responsible Officer of Matson certifying (A) that the conditions specified in Sections 4.02(a) and 4.02(b) have been satisfied, and (B) that there has been no event or circumstance since December 31, 2011 that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect. (b) ...

Conditions to Initial Credit Extensions. (A) On the Closing Date: (a) The Administrative Agent shall have received, on behalf of itself, the Lenders, a customary written opinion of (i) ▇▇▇▇▇ & Lardner LLP, counsel for the Loan Parties, (ii) ▇▇▇▇▇▇▇ ▇▇▇▇ & ▇▇▇▇▇▇▇, special Cayman Islands counsel for the Loan Parties and (iii) ▇▇▇▇▇ & ▇▇▇▇▇▇, as special Nevada counsel for the Loan Parties, in each case, (A) dated the Closing Date and (B) addressed to the Administrative Agent and the Lenders. (b) There shall have been delivered to the Administrative Agent an executed counterpart of each of the Loan Documents. (c) The Administrative Agent shall have received a solvency certificate in the form of Exhibit H from the chief financial officer of the U.S. Borrower certifying that the U.S. Borrower and each of its Subsidiaries, on a consolidated basis after giving effect to the Closing Date Transactions and the other transactions contemplated thereby, are Solvent. (d) The Administrative Agent shall have received (i) a copy of the certificate or articles of incorporation or certificate of formation, as applicable, including all amendments thereto, of each Loan Party, certified as of a recent date by the Secretary of State or equivalent of the state of its organization, and a certificate as to the good standing of each Loan Party as of a recent date, from such Secretary of State (or a comparable government official, as applicable); (ii) a certificate of the Secretary or Assistant Secretary of each Loan Party dated the Closing Date and certifying (A) that attached thereto is a true and complete copy of the by-laws, memorandum and articles of association or other operating agreement, as applicable, of such Loan Party as in effect on the Closing Date and at all times since a date prior to the date of the resolutions described in clause (B) below, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the board of directors or members, as applicable, of such Loan Party authorizing the execution, delivery and performance of the Loan Documents to which such person is a party and, in the case of the Borrowers, the borrowings hereunder, and that such resolutions have not been modified, rescinded or amended and are in full force and effect, (C) that the certificate or articles of incorporation, certificate of formation or other constitutional documentation, as applicable, of such Loan Party, and all such amendments thereto as in effect on the Closing Date, have not been amended since the ...

Conditions to Initial Credit Extensions. The obligation of the Bank to make the initial Advance under the Revolving Credit Facility is subject to each of the following conditions precedent, or if any such condition is waived by the Bank as a condition to the making of such initial Advance, such condition shall, at the option of the Bank, be a condition to the making of subsequent Advances under the Revolving Credit Facility or the issuance of Letters of Credit: