Conditions to Initial Disbursement of Loans Sample Clauses

The "Conditions to Initial Disbursement of Loans" clause sets out the specific requirements that must be satisfied before a lender will release the first portion of loan funds to a borrower. Typically, these conditions include the delivery of certain documents, evidence of compliance with legal or financial covenants, and confirmation that no default has occurred. By clearly outlining these prerequisites, the clause ensures that the lender's risk is minimized and that the borrower meets all necessary obligations before receiving any funds, thereby protecting both parties and facilitating a smooth loan transaction.
Conditions to Initial Disbursement of Loans. The obligation of Lenders to make the initial disbursement of the Loans shall be subject to satisfaction of each of the following conditions precedent on or before the Closing Date:
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Conditions to Initial Disbursement of Loans. The obligation of any Lender to make its initial Loan shall be subject to the following conditions precedent that the Administrative Agent shall have received, or shall have waived receipt of, each of which shall be in form and substance satisfactory to the Administrative Agent (acting on the instructions of all Lenders), and the other conditions set forth below shall have been satisfied or waived by the Administrative Agent (acting on the instructions of all Lenders):
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Conditions to Initial Disbursement of Loans. The obligation of Lenders to make the initial disbursement of the Loans (which Loans shall be made as Committed Loans) shall be subject to satisfaction of each of the following conditions precedent on or before the Closing Date (including, in the case of Borrower, each Guarantor Subpartnership and the REIT, a certificate of each such entity's Secretary or an officer comparable thereto (a "Secretary's Certificate") with respect to authorization, incumbency and all organizational documents):
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Conditions to Initial Disbursement of Loans. 45 4.2 CONDITIONS PRECEDENT TO ALL LOANS...................................................48
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Conditions to Initial Disbursement of Loans. 38 4.2 CONDITIONS PRECEDENT TO ALL LOANS AND LETTERS OF CREDIT.....39 ARTICLE V
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Related to Conditions to Initial Disbursement of Loans

  • Conditions to Initial Loans The agreement of each Lender to make Loans hereunder and the effectiveness of this Agreement is subject to the satisfaction, prior to or on the Closing Date, of the following conditions precedent, which conditions precedent apply to and shall be satisfied by the Borrower:

  • Conditions to Initial Advances The agreement of Lenders to make the initial Advances requested to be made on the Closing Date is subject to the satisfaction, or waiver by Agent, immediately prior to or concurrently with the making of such Advances, of the following conditions precedent:

  • CONDITIONS TO BORROWINGS The obligations of each Lender to make Advances to Borrower hereunder is subject to the satisfaction of the following conditions:

  • Conditions to Borrowing The Bank will not be obligated to make (or continue to make) advances hereunder unless (i) the Bank has received executed originals of the Note and all other documents or agreements applicable to the loans described herein, including but not limited to the documents specified in Article III (collectively with this Agreement the “Loan Documents”), in form and content satisfactory to the Bank; (ii) if the loan is secured, the Bank has received confirmation satisfactory to it that the Bank has a properly perfected security interest, mortgage or lien, with the proper priority; (iii) the Bank has received certified copies of the Borrower’s governance documents and certification of entity status satisfactory to the Bank and all other relevant documents; (iv) the Bank has received a certified copy of a resolution or authorization in form and content satisfactory to the Bank authorizing the loan and all acts contemplated by this Agreement and all related documents, and confirmation of proper authorization of all guaranties and other acts of third parties contemplated hereunder; (v) if required by the Bank, the Bank has been provided with Opinion of the Borrower’s counsel in form and content satisfactory to the Bank confirming the matters outlined in Section 2.2 and such other matters as the Bank requests; (vi) no default exists under this Agreement or under any other Loan Documents, or under any other agreements by and between the Borrower and the Bank; and (vii) all proceedings taken in connection with the transactions contemplated by this Agreement (including any required environmental assessments), and all instruments, authorizations and other documents applicable thereto, are satisfactory to the Bank and its counsel.

  • Conditions to Initial Extensions of Credit The agreement of each Lender to make the initial extension of credit requested to be made by it is subject to the satisfaction, immediately prior to or concurrently with the making of such extension of credit on the Closing Date, of the following conditions precedent: