EFFECTIVENESS; CONDITIONS OF LENDING, ETC Clause Samples
The 'Effectiveness; Conditions of Lending, Etc.' clause defines when a lending agreement becomes legally binding and under what specific conditions the lender is obligated to provide funds. Typically, this clause outlines prerequisites such as the borrower delivering required documents, obtaining necessary approvals, or meeting financial covenants before any loan disbursement occurs. Its core function is to protect the lender by ensuring all agreed-upon conditions are satisfied before any money is advanced, thereby reducing risk and ensuring contractual clarity for both parties.
EFFECTIVENESS; CONDITIONS OF LENDING, ETC. The obligation of each Lender to make its Loans and of the Issuing Lender to issue Letters of Credit is subject to the following conditions precedent:
EFFECTIVENESS; CONDITIONS OF LENDING, ETC. The effectiveness of this Agreement and the obligation of each Lender to make its Loans are subject to the following conditions precedent:
EFFECTIVENESS; CONDITIONS OF LENDING, ETC. The obligation of the Bank to make its Loans is subject to the following conditions precedent:
EFFECTIVENESS; CONDITIONS OF LENDING, ETC. The obligation of each Lender to make its Term Loan on the Closing Date is subject to the satisfaction of the following conditions precedent:
EFFECTIVENESS; CONDITIONS OF LENDING, ETC. The effectiveness of this Agreement and the obligation of each Lender to make its Loans is subject to the satisfaction of the following conditions precedent by no later than 5:00 p.m. (Mexico City Time) on November 29, 2021:
EFFECTIVENESS; CONDITIONS OF LENDING, ETC. The effectiveness of this Agreement is subject to the following conditions precedent:
EFFECTIVENESS; CONDITIONS OF LENDING, ETC. The obligation of each Bank to make its Loans and of BofA to issue Letters of Credit is subject to the following conditions precedent:
EFFECTIVENESS; CONDITIONS OF LENDING, ETC. The obligation of each Lender to make its Loans (and the obligation of the Fronting Lender to enter into Drafting Agreements or any other Drafting arrangements (whether in writing or oral)) is subject to the following conditions precedent:
EFFECTIVENESS; CONDITIONS OF LENDING, ETC. The obligation of each Lender to make its Loans and of the Issuing Lenders to issue Letters of Credit, in each case on the Closing Date, is subject to the following conditions precedent:
EFFECTIVENESS; CONDITIONS OF LENDING, ETC. This Agreement shall become effective on the date (the "Effective Date") when, and only when, the Agent shall have received: