Conditions to the Initial Advance Clause Samples
The "Conditions to the Initial Advance" clause sets out the specific requirements that must be satisfied before a lender is obligated to provide the first disbursement of funds under a loan agreement. Typically, these conditions may include the delivery of certain documents, evidence of compliance with legal or financial covenants, or confirmation that no default has occurred. By clearly outlining these prerequisites, the clause ensures that the lender is protected and that all necessary steps are completed before any funds are released, thereby reducing risk and ensuring both parties are prepared for the commencement of the loan.
Conditions to the Initial Advance. The making of the initial advance under the Loans is subject to the fulfillment on or before the Closing Date of the following conditions precedent in a manner satisfactory in form and substance to the Lender and its counsel:
Conditions to the Initial Advance. The agreement of Lender to make the Initial Advance requested to be made on the Closing Date is subject to the satisfaction, or waiver by Lender, immediately prior to or concurrently with the making of such Advance, of the following conditions precedent (in addition to, and cumulative with, any such conditions precedent set forth and described in the Commitment Letter relative hereto):
Conditions to the Initial Advance. The obligation to fund the initial Advance and perform the respective obligations of the Agents and the Lenders hereunder is subject to satisfaction of all of the conditions precedent set forth below in this Section, to the sole satisfaction of all of the Agents and Lenders.
Conditions to the Initial Advance. The obligations of each Applicable Lenders to make any initial Advance shall be subject to the satisfaction of the following conditions precedent on or prior to the date of such initial Advance (the "Closing Date"): ------------
Conditions to the Initial Advance. As conditions precedent to the Initial Advance hereunder, if and to the extent required by Administrative Agent, to Administrative Agent’s satisfaction, Borrower must have satisfied the conditions required under this Agreement, including all of those conditions set forth in Exhibit “C” and Section 4 below.
Conditions to the Initial Advance. Notwithstanding any other provision --------------------------------- of this Agreement and without affecting in any manner the rights of Agent, Revolving Credit Agent and Lenders hereunder, Borrower shall have no rights under this Agreement (but shall have all applicable obligations hereunder), and Lenders shall not be obligated to make any Loan or incur any Letter of Credit Obligations or to take, fulfill, or perform any other action hereunder, until the following conditions have been fulfilled to the satisfaction of Agent and Revolving Credit Agent.
(a) This Agreement or counterparts hereof shall have been duly executed by, and delivered to, Borrower, Agent, Revolving Credit Agent and Lenders;
(b) Revolving Credit Agent and Agent shall have received all the Loan Documents and such other documents, instruments, certificates, opinions and agreements as Agent shall request in connection with the transactions contemplated by this Agreement, including without limitation all documents, instruments, agreements and other materials listed in the Schedule of Documents each in form and substance satisfactory to Agent and Revolving Credit Agent.
(c) Revolving Credit Agent and Agent shall have received evidence satisfactory to Agent and Revolving Credit Agent that Borrower has obtained consents and acknowledgments of all Persons whose consents and acknowledgments may be required, including, but not limited to, all requisite Governmental Authorities, to the terms and to the execution and delivery, of this Agreement and the other Loan Documents and the consummation of the transactions contemplated hereby and thereby;
(d) Agent shall have received evidence satisfactory to it that the insurance policies provided for in Section 5.5 and Annex D are in full force and ----------- ------- effect, together with appropriate evidence showing loss payable and/or additional insured clauses or endorsements, as appropriate, in favor of Agent, for itself and Lenders, and in form and substance satisfactory to Agent;
(e) Borrower shall have paid all Fees, costs, and expenses of closing (including fees and expenses of consultants and counsel to Agent, Revolving Credit Agent and Lenders presented as of the Closing Date);
(f) No action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or proposed before any court, governmental agency or legislative body to enjoin, restrain or prohibit, or to obtain damages in respect of, or which is related to o...
Conditions to the Initial Advance. Terms and Conditions of Transaction..................... 123 8.02. Due Diligence........................................... 123 8.03. Validity of Liens....................................... 123 8.04. Search Reports and Related Documents.................... 123 8.05. Certificates of Insurance............................... 124 8.06. Solvency Certificate.................................... 124 8.07. Opinions of Counsel to the Borrower..................... 124 8.08. Opinion of Counsel to the Parent........................ 125 8.09.
Conditions to the Initial Advance. Notwithstanding any other provision of this Agreement and without affecting in any manner the rights of Lender hereunder, Borrowers shall have no rights under this Agreement (but shall have all applicable obligations hereunder), and Lender shall not be obligated to make any Advance or to incur any Letter of Credit Obligation, or to take, fulfill, or perform any other action hereunder, until the following conditions have been satisfied, in Lender's sole discretion, or waived in writing by Lender:
Conditions to the Initial Advance. The agreement of Agent to make the Initial Advance requested to be made on the Original Closing Date is subject to the satisfaction, or waiver by Agent, immediately prior to or concurrently with the making of such Advance, of the following conditions precedent (in addition to, and cumulative with, any such conditions precedent set forth and described in the Commitment Letter relative hereto):
Conditions to the Initial Advance. The making of the initial Advance under the Loan and other Revolver Usage are subject to the fulfillment of the following conditions precedent in a manner satisfactory in form and substance to the Agent and its counsel: