Conditions to Pledges of Loans Sample Clauses

The "Conditions to Pledges of Loans" clause sets out the specific requirements that must be met before loans can be pledged as collateral in a transaction. Typically, this clause details documentation standards, eligibility criteria for the loans, and any necessary approvals or consents that must be obtained prior to the pledge. For example, it may require that the loans are performing, properly documented, and free of prior encumbrances. The core function of this clause is to ensure that only qualified and acceptable loans are used as collateral, thereby protecting the interests of the secured party and reducing the risk of disputes or losses related to inadequate collateral.
Conditions to Pledges of Loans. Each pledge of an additional Eligible Loan, a Substitute Loan or any other pledge of a Loan hereunder shall be subject to the further conditions precedent that (as certified to the Trustee by the Borrower): (a) the Collateral Manager (on behalf of the Borrower) shall have delivered to the Administrative Agent and each Lender (with a copy to the Trustee) no later than 2:00 p.m. on the date of such pledge: (A) a Borrowing Base Certificate, (B) an updated Loan Tape, and (C) such additional information as may be reasonably requested by the Administrative Agent; (b) the Borrower shall cause any assignment or Transfer Document for any Loan pledged to be in the possession of the Custodian within two Business Days after the related date of pledge and all other Required Loan Documents (including any UCCs included in the Required Loan Documents) to be in the possession of the Custodian within seven Business Days after the related date of pledge; (c) [reserved]; (d) on and as of such day, immediately after giving effect to such pledge, each Collateral Quality Test shall be satisfied, or, if any Collateral Quality Test shall not be satisfied, the Borrower’s level of compliance with such Collateral Quality Test shall be improved or maintained; and (e) the representations and warranties contained in Sections 4.1, 4.2 and 4.3 are true and correct in all respects, before and after giving effect to the pledge to take place on such Cut-Off Date, on and as of such day as though made on and as of such date (other than any representation and warranty that is made as of a specific date).
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Related to Conditions to Pledges of Loans

  • CONDITIONS TO ALL BORROWINGS The obligations of the Lenders to make any Loan or issue any Letter of Credit, whether on or after the Closing Date, shall also be subject to the satisfaction of the following conditions precedent:

  • Conditions of Loans 6 3.1 Conditions Precedent to Initial Credit Extension.................... 6 3.2 Conditions Precedent to all Credit Extensions....................... 6

  • Investments, Loans, Advances, Guarantees and Acquisitions The Company will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger or consolidation with any Person that was not a wholly owned Subsidiary prior to such merger or consolidation) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any Person or any assets of any other Person constituting a business unit or the rights of any licensee under a trademark license to such licensee from the Company or any of its Affiliates, except: (a) Permitted Investments; (b) investments by the Company or a Subsidiary in the capital stock of its Subsidiaries; (c) loans or advances made by the Company to, and Guarantees by the Company of obligations of, any Subsidiary, and loans or advances made by any Subsidiary to, and Guarantees by any Subsidiary of obligations of, the Company or any other Subsidiary; (d) Guarantees constituting Indebtedness permitted by Section 6.01; (e) advances or loans made in the ordinary course of business to employees of the Company and its Subsidiaries; (f) Investments existing on the Effective Date not otherwise permitted under this Agreement; (g) Investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Company or any Subsidiary; (h) Permitted Acquisitions; (i) Swap Agreements not entered into for speculative purposes; (j) Investments in connection with the ownership, development, leasing, acquisition, construction or improvement of the Corporate Headquarters; (k) Investments in joint ventures in an aggregate amount not to exceed the greater of (i) $100,000,000 and (ii) 2.75% of Total Assets (determined at the time of each such investment by reference to the Company’s financial statements most recently delivered pursuant to Section 5.01(a) or (b) or, if prior to the date of the delivery of the first financial statements to be delivered pursuant to Section 5.01(a) or (b), the most recent financial statements referred to in Section 3.04(a)); (l) Investments, in addition to Investments permitted under clauses (a) through (j) of this Section 6.04 made after the Effective Date in an aggregate amount not to exceed $500,000,000 at any time outstanding in any Person or Persons; (m) Investments so long as prior to making such Investment and after giving effect (including giving effect on a pro forma basis) thereto (i) no Default or Event of Default has occurred and is continuing or would occur and (ii) the Company is in compliance with Section 6.07.

  • Conditions to All Loans and Letters of Credit The obligation of each Lender to make any Loan (other than any Revolving Credit Loan the proceeds of which are to be used to repay Refunded Swing Line Loans) and the obligation of each Issuing Lender to issue any Letter of Credit is subject to the satisfaction of the following conditions precedent on the relevant Borrowing Date:

  • CONDITIONS TO LOANS AND LETTERS OF CREDIT The obligations of Lenders to make Loans and the issuance of Letters of Credit hereunder are subject to the satisfaction of the following conditions.