Common use of Lender Conditions for each Funding Date Clause in Contracts

Lender Conditions for each Funding Date. No Lender shall have any obligation to make a Loan for the reimbursement of the cost of any Component or the acquisition of any Item of Equipment hereunder unless on the Funding Date therefor each of the following conditions are fulfilled: (i) The conditions precedent to Lessor's obligation to lease such Item of Equipment in accordance with the terms hereof (except for the condition precedent set forth in Section 3.1(b)(viii)) shall have been satisfied, without waiver or modification (except as consented to by Majority Lenders), and such Lender shall have received copies of all documents and opinions with respect thereto. (ii) The Administrative Agent shall have received, in each case duly authorized, executed and delivered by Lessor in form and substance satisfactory to the Administrative Agent and in full force and effect, copies of the Lessor Financing Statements for such Item of Equipment with evidence reasonably acceptable to the Administrative Agent that such have been recorded in the state in which such Item of Equipment is located and, if the law of such state requires financing statements to be filed in local jurisdictions within such state, in such local jurisdiction. (iii) There shall exist no Loan Default or Loan Event of Default and all representations and warranties of Lessor contained herein and in the other Operative Documents shall be true and correct with the same effect as though such representations and warranties had been made on and as of such Funding Date except to the extent made as of an earlier date. (iv) On and as of the Funding Date, after giving effect to the Loan to be made on such date, the aggregate of the original principal amounts of all Loans made by such Lender do not exceed such Lender's Lender Commitment. (v) At any time prior to such Funding Date, the Administrative Agent shall have received opinions of counsel addressed to the Administrative Agent, the Collateral Agent, and the Lenders in form and substance reasonably satisfactory to the Administrative Agent with respect to the perfection of its interest in Equipment in the state in which such Item of Equipment is located. (vi) The Administrative Agent shall have received such other confirmatory assignments, conveyances, financing and continuation statements, transfer endorsements and other assurances or instruments other than estoppel certificates or other agreements, certificates or other documents to be delivered by any Sublessee or other Person (other than an Affiliate of Lessee) which Majority Lenders may reasonably request to perfect, preserve or protect the Collateral Agent's security interest granted hereunder, in form and substance satisfactory to Majority Lenders as Majority Lenders may reasonably request in writing at least five (5) Business Days before such Funding Date. Each borrowing by Lessor under the Loan Agreement shall constitute a representation and warranty by Lessor to such Lender as of the date of the Funding Date for such borrowing such that the conditions contained in this Section 3.2 have been satisfied.

Lender Conditions for each Funding Date. No Lender shall have any obligation to make a Loan for the reimbursement of the cost of any Component or the acquisition of any Item of Equipment hereunder unless on the Funding Date therefor each of the following conditions are fulfilled: (i) The conditions precedent to Lessor's obligation to lease such Item of Equipment in accordance with the terms hereof (except for the condition precedent set forth in Section 3.1(b)(viii)) shall have been satisfied, without waiver or modification (except as consented to by Majority Lenders), and such Lender shall have received copies of all documents and opinions with respect thereto. (ii) The Administrative Agent Such Lender shall have received, in each case duly authorized, executed and delivered by Lessor each other party thereto in form and substance satisfactory to the Administrative Agent such Lender and in full force and effect, copies of the Lessor Financing Statements for such Item of Equipment with evidence reasonably acceptable to the Administrative Agent Lessor that such have been recorded in the state in which such Item of Equipment is located and, if the law of such state requires financing statements to be filed in local jurisdictions within such state, in such local jurisdictionjurisdiction and, in a timely manner, the Funding Notice for such Funding Date. (iii) There shall exist no Loan Default or Loan Event of Default and all representations and warranties of Lessor contained herein and in the other Operative Documents shall be true and correct with the same effect as though such representations and warranties had been made on and as of such Funding Date except to the extent made as of an earlier date. (iv) On and as of the Funding Date, after giving effect to the Loan to be made on such date, the aggregate of the original principal amounts of all Loans made by such Lender do not exceed such Lender's Lender Commitment. (v) At any time prior to such Funding Date, the Administrative Agent Lender shall have received opinions of counsel addressed to the Administrative Agent, the Collateral Agent, and the Lenders in form and substance reasonably satisfactory to the Administrative Agent with respect to the perfection of its interest in Equipment in the state in which such Item of Equipment is located. (vi) The Administrative Agent Each Lender shall have received such other confirmatory assignments, conveyances, financing and continuation statements, transfer endorsements endorsements, powers of attorney, notes, reports and other assurances or instruments other than estoppel certificates or other agreements, certificates or other documents to be delivered by any Sublessee or other Person (other than an Affiliate of Lessee) in possession of any Item of Equipment and take such further actions which Majority Lenders may reasonably request to perfect, preserve or protect the Collateral Agent's security interest granted hereunder or which Majority Lenders reasonably deem necessary or advisable in order to obtain the full benefits of the Liens created or intended to be created hereunder, in form and substance satisfactory to Majority Lenders as Majority Lenders may reasonably request in writing at least five (5) Business Days before such Funding Date. Each borrowing by Lessor under the Loan Agreement shall constitute a representation and warranty by Lessor to such Lender as of the date of the Funding Date for such borrowing such that the conditions contained in this Section 3.2 have been satisfied.