Conditions to Initial Extensions of Credit Sample Clauses

Conditions to Initial Extensions of Credit. The election of each Conduit Investor to fund, and the obligation of each Committed Note Purchaser to fund, the initial Borrowing hereunder, and the obligations of the Swingline Lender and the L/C Provider to fund the initial Swingline Loan or provide the initial Letter of Credit hereunder, respectively, shall be subject to the satisfaction of the conditions precedent that (a) each Funding Agent shall have received a duly executed and authenticated Series 2017-1 Class A-1 Advance Note registered in its name or in such other name as shall have been directed by such Funding Agent and stating that the principal amount thereof shall not exceed the Maximum Investor Group Principal Amount of the related Investor Group, (b) each of the Swingline Lender and the L/C Provider shall have received a duly executed and authenticated Series 2017-1 Class A-1 Swingline Note or Series 2017-1 Class A-1 L/C Note, as applicable, registered in its name or in such other name as shall have been directed by it and stating that the principal amount thereof shall not exceed the Swingline Commitment or L/C Commitment, respectively, and (c) the Master Issuer shall have paid all fees 51 required to be paid by it under the Related Documents on the Series 2017-1 Closing Date, including all fees required hereunder.

Conditions to Initial Extensions of Credit. The obligation of each Bank to make its initial Loan and of each Issuing Bank to issue Letters of Credit hereunder is subject to the satisfaction of the following conditions precedent:

Conditions to Initial Extensions of Credit. The obligation of the Lenders to make the initial Extension of Credit hereunder is subject to the satisfaction of such of the following conditions in all material respects on or prior to the Closing Date as shall not have been expressly waived in writing by the Administrative Agent and Lenders.

Conditions to Initial Extensions of Credit. The obligations of Lenders to enter into this Agreement on the Closing Date are subject to the satisfaction of the following:

Conditions to Initial Extensions of Credit. The obligations of the Lenders to make the initial Loans hereunder and of the Issuing Banks to issue Letters of Credit hereunder, and the effectiveness of any amendment to a Letter of Credit that increases the principal amount thereof, are subject to the satisfaction of the conditions set forth below (the date of any such satisfaction, the "Effective Date"; which date shall not be later than the date that is 90 days after the Closing Date, or, if earlier, September 30, 1998): (a) An amended and restated $600 million liquidity facility (the "Liquidity Facility"), together with any necessary changes in the commercial paper program and certificates associated therewith, on behalf of the Metris Master Trust shall have become effective. (b) The Administrative Agent, the Lenders and the arranger of the credit facilities provided for herein shall have received all fees (due and payable pursuant to the Fee Letter) and other amounts due and payable on or prior to the Effective Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by any Loan Party hereunder or under any other Loan Document. (c) The Administrative Agent shall have received the results of a recent search of the Uniform Commercial Code, judgment and tax lien filings which may have been filed with respect to the Borrower or any other Loan Party, and the results of such search shall be satisfactory to the Lenders. (d) The Spin-off shall have been consummated, (including receipt of a favorable ruling from the Internal Revenue Service stating that the Spin-off may be consummated on a tax-free basis) and intercompany arrangements between the Borrower and Fingerhut shall have been completed. (e) The credit facilities provided for herein shall have received a rating of at least BB- and at least Ba3 from S&P and Moody's, respectively. (f) The Administrative Agent s▇▇▇▇ ▇▇ve received a completed Borrowing Base Certificate dated the Effective Date and signed by a Financial Officer of the Borrower.

Conditions to Initial Extensions of Credit. The effectiveness of this Agreement and the obligation of the L/C Issuer and each Lender to make any Loan or an L/C Credit Extension hereunder is subject to the satisfaction, or waiver in accordance with Section 10.5, of the following conditions on or before the Closing Date:

Conditions to Initial Extensions of Credit. The obligation of the Lenders to make the initial Advances or issue or participate in the initial Letters of Credit, including the deemed issuance of the Existing Letters of Credit, if any, is subject to the satisfaction of each of the following conditions:

Conditions to Initial Extensions of Credit. The election of each Conduit Investor to fund, and the obligation of each Committed Note Purchaser to fund, the initial Borrowing hereunder, and the obligations of the Swingline Lender and the L/C Provider to fund the initial Swingline Loan or provide the initial Letter of Credit hereunder, respectively, shall be subject to the satisfaction of the conditions precedent that (a) each Funding Agent shall have received a duly executed and authenticated Series 2019-1 Class A-1 Advance Note registered in its name or in such other name as shall have been directed by such Funding Agent and stating that the principal amount thereof shall not exceed the Maximum Investor Group Principal Amount of the related Investor Group, (b) each of the Swingline Lender and the L/C Provider shall have received a duly executed and authenticated Series 2019-1 Class A-1 Swingline Note or Series 2019-1 Class A-1 L/C Note, as applicable, registered in its name or in such other name as shall have been directed by it and stating that the principal amount thereof shall not exceed the Swingline Commitment or L/C Commitment, respectively, and (c) the Master Issuer shall have paid all fees required to be paid by it under the Related Documents on the Series 2019-1 Closing Date, including all fees required hereunder.

Conditions to Initial Extensions of Credit. The obligations of the Lenders to make the initial Revolving Credit Loans and the Term Loans are subject to the satisfaction of each of the following additional conditions: