General conditions precedent Clause Samples
The 'General conditions precedent' clause sets out specific requirements or events that must be satisfied before a party is obligated to perform its contractual duties. Typically, these conditions might include obtaining regulatory approvals, securing financing, or delivering certain documents. By clearly outlining these prerequisites, the clause ensures that both parties are protected from having to proceed unless all agreed-upon conditions are met, thereby reducing risk and uncertainty in the contractual relationship.
POPULAR SAMPLE Copied 2 times
General conditions precedent. The agreement of the Finance Parties referred to in clause 2 (Agreement of the Finance Parties) shall be further subject to:
(a) the representations and warranties in clause 4 (Representations and warranties) being true and correct on the Effective Date as if each was made with respect to the facts and circumstances existing at such time; and
(b) no Event of Default or Default having occurred and continuing at the time of the Effective Date.
General conditions precedent. The obligations of each party hereto to consummate the Exchange and the other transactions contemplated by this Agreement shall be subject to fulfillment on or prior to the Closing of each of the following conditions:
General conditions precedent. The agreement of the Creditors referred to in clause 2 shall be further subject to:
6.2.1 the representations and warranties in clause 5 being true and correct on the Effective Date as if each was made with respect to the facts and circumstances existing at such time; and
6.2.2 no Default having occurred and continuing at the time of the Effective Date.
General conditions precedent. The obligation of the Banks to make any Advance available shall be subject to the further conditions that, at the time of the giving of the Drawdown Notice for such Advance, and at the time of the making of such Advance:
9.2.1 the representations and warranties contained in (a) clauses 7.1, 7.2 and 7.3(b) of this Agreement and (b) clause 4 of each Corporate Guarantee, are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and
9.2.2 no Default shall have occurred and be continuing or would result from the making of the relevant Advance.
General conditions precedent. The consent of the Creditors referred to in clause 2 shall be further subject to:
5.2.1 the representations and warranties in clause 4 being true and correct on the Effective Date as if each was made with respect to the facts and circumstances existing at such time; and
5.2.2 no Event of Default having occurred and continuing at the time of the Effective Date.
General conditions precedent. The agreement of the Bank referred to in clause 2 shall be further subject to:
5.2.1 the representations and warranties in clause 4 being true and correct on the Effective Date as if each was made with respect to the facts and circumstances existing at such time; and
5.2.2 no Default having occurred and continuing at the time of the Effective Date.
General conditions precedent. The following must be satisfied as conditions precedent to ▇▇▇▇▇▇’s obligation to make any Advance at any time:
(a) All representations and warranties set forth in this Agreement, in each Advance Request and in all other Loan Documents shall be true and complete in all material respects on and as of the date of any such Advance (unless made as to a specific date, in which case such representation and warranty will be true and complete in all material respects as of such specific date), with the same effect as if made and repeated on that date.
(b) As of the date of any such Advance,
(1) Borrower is in compliance with all of the covenants, agreements, obligations and undertakings required to be performed by Borrower under this Agreement and under any of the other Loan Documents unless compliance thereof shall have been waived in writing by ▇▇▇▇▇▇;
(2) No Event of Default as defined herein or in any other Loan Instrument, and no event or condition which with the notice or the passage of time or both as prescribed herein or in any such other Loan Document, would constitute any such Event of Default remains uncured to Lender’s satisfaction;
(3) There shall have been no material adverse change in the condition of the Property or the Improvements located thereon or in the business or financial condition or management of Borrower or Guarantor, and neither the Property nor the Improvements shall have suffered any significant damage by fire or other casualty, that is damage by fire or other casualty of in excess of One Hundred Thousand and No/100 Dollars ($100,000.00) which is not adequately covered by insurance and no condemnation or adverse zoning or usage change proceedings shall have been commenced or threatened, and no law, regulation, ordinance, moratorium, injunctive proceeding, restriction or similar matter shall have been enacted, adopted or threatened by any Governmental Authority if the result of such law, regulation, ordinance, moratorium, injunctive proceeding, restriction or like matter would have the effect in Lender’s reasonable judgment, of materially and adversely affecting the expected benefits to be gained by Borrower in connection with the Property or by Lender in connection with its assisting Borrower in financing the subject transaction for any reason, whether because of ▇▇▇▇▇▇▇▇’s being prohibited or delayed in completing any of the Improvements or otherwise;
(4) All statements contained in Borrower’s Advance Request are true and complete in...
General conditions precedent. The obligation of the Bank to make the Loan shall be subject to the further condition that, at the time of the giving of the Drawdown Notice , and at the time of the making of the Loan:
10.2.1 the representations and warranties contained in clauses 8.1 and 8.2 are true and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time; and
10.2.2 no Default shall have occurred and be continuing or would result from the making of the Loan.
General conditions precedent. The respective obligations of the parties hereto to consummate the transactions contemplated hereby, and in particular the Amalgamation, are subject to the satisfaction, on or before the Closing Date, of the following conditions, any of which may be waived by the consent of each of the parties without prejudice to their rights to rely on any other or others of such conditions:
(i) this Agreement and the transactions contemplated hereby, including, in particular, the Amalgamation, shall be approved by the sole shareholder of SubCo and by the sole shareholder of NewCo in accordance with the BCBCA;
(ii) all the conditions required to close the Amalgamation set out herein and in the Acquistion Agreement being met or waived; and
(iii) there shall not be in force any order or decree restraining or enjoining the consummation of the transactions contemplated by this Agreement, including, without limitation, the Amalgamation.
General conditions precedent. The agreement of the Lenders and the Agent referred to in clause 2 shall be further subject to:
(a) the representations and warranties in clause 4 being true and correct on the Effective Date as if each was made with respect to the facts and circumstances existing at such time; and
(b) no Default having occurred and continuing at the time of the Effective Date.