Common use of Unavailability of Funding Clause in Contracts

Unavailability of Funding. Tensar hereby agrees that the obligation of TCO to provide the Facility shall be subject to the ability of TCO to obtain funding to enable it to satisfy its obligations hereunder, and that if TCO at any time determines that it is unable to obtain such funding on terms acceptable to TCO, TCO shall not have any further obligation to enter into or consummate any Transactions hereunder (including any Transaction for which a Metals Transaction Confirmation, a Goods Transaction Confirmation, a Metals Purchase Offer or a Goods Purchase Offer has been delivered) until it subsequently determines that such funding is available to TCO on terms that are acceptable to TCO. Without limiting the generality of the foregoing, TCO shall expressly have no obligation whatsoever to seek to obtain any funding other than the funding arrangements that TCO has in place as of the date hereof, and a lack of availability under such funding arrangements for any reason shall excuse TCO from either any obligation to Tensar to consummate any Transaction hereunder following such unavailability, or any other liability relating to any such Transaction. The parties hereto acknowledge and agree that the provisions of this Section 3.5 constitute a condition precedent to TCO’s obligation to provide accommodations under the Facility.

Unavailability of Funding. Tensar hereby agrees that the obligation of TCO to provide the Facility shall be subject to the ability of TCO to obtain funding to enable it to satisfy its obligations hereunder, and that if TCO at any time determines that it is unable to obtain such funding on terms acceptable to TCO, TCO shall not have any further obligation to enter into or consummate any Transactions the initial Transaction hereunder (including any Transaction for which if a Metals Transaction Confirmation, a Goods Transaction Confirmation, Confirmation or a Metals Purchase Offer or a Goods Purchase Offer has been delivereddelivered for such Transaction) until it subsequently determines that such funding is available to TCO on terms that are acceptable to TCO. Without limiting the generality of the foregoing, TCO shall expressly have no obligation whatsoever to seek to obtain any funding other than the funding arrangements that TCO has in place as of the date hereof, and a lack of availability under such funding arrangements for any reason shall excuse TCO from either any obligation to Tensar to consummate any the initial Transaction hereunder following such unavailability, or any other liability relating to any such Transaction. The parties hereto acknowledge and agree that the provisions of this Section 3.5 3.6 constitute a condition precedent to TCO’s obligation to provide accommodations under the FacilityFacility for the initial Transaction.

Unavailability of Funding. Tensar Holdings hereby agrees that the obligation of TCO TCH to provide the Facility shall be subject to the ability of TCO TCH to obtain funding to enable it to satisfy its obligations hereunder, and that if TCO TCH at any time determines that it is unable to obtain such funding on terms acceptable to TCOTCH, TCO TCH shall not have any further obligation to enter into or consummate any Transactions the initial Transaction hereunder (including any Transaction for which if a Metals Transaction Confirmation, a Goods Transaction Confirmation, Confirmation or a Metals Purchase Offer or a Goods Purchase Offer has been delivereddelivered for such Transaction) until it subsequently determines that such funding is available to TCO TCH on terms that are acceptable to TCOTCH. Without limiting the generality of the foregoing, TCO TCH shall expressly have no obligation whatsoever to seek to obtain any funding other than the funding arrangements that TCO TCH has in place as of the date hereof, and a lack of availability under such funding arrangements for any reason shall excuse TCO TCH from either any obligation to Tensar Holdings to consummate any the initial Transaction hereunder following such unavailability, or any other liability relating to any such Transaction. The parties hereto acknowledge and agree that the provisions of this Section 3.5 3.6 constitute a condition precedent to TCOTCH’s obligation to provide accommodations under the FacilityFacility for the initial Transaction.