Example ContractsClausesConditions of Initial Credit Extension
Conditions of Initial Credit Extension
Conditions of Initial Credit Extension contract clause examples

Conditions of Initial Credit Extension. The obligation of each L/C Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent (provided that the delivery of any document or the performance of any obligation required to be delivered or performed under Section 6.18 shall not be a condition precedent to the initial Credit Extensions on the Closing Date):

Conditions to all Credit Extensions. 79

Conditions Precedent to Initial Credit Extension. Bank’s obligation to make the initial Credit Extension is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including, without limitation:

SECTION # AFFIRMATIVE COVENANTS 4041

Conditions to Credit Extension to Specified Designated Borrower. The obligation of each Lender to make its initial Credit Extension to the Specified Designated Borrower is subject to the satisfaction of the following conditions precedent in the reasonable determination of the Administrative Agent, and to the Administrative Agent’s notification to the Company (which shall not be unreasonably withheld or delayed) that such conditions precedent have been satisfied:

Request for Credit Extension. The Administrative Agent and, if applicable, the L/C Issuer or the Swingline Lender shall have received a Request for Credit Extension in accordance with the requirements hereof.

Additional Credit Extension Amendment. The Incremental Facilities shall be documented by an Additional Credit Extension Amendment executed by the Persons providing the Incremental Facilities (and the other Persons specified in the definition of Additional Credit Extension Amendment but no other existing Lender), and the Additional Credit Extension Amendment may provide for such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Company, to effect the provisions of this [Section 2.17].

5.2Conditions to Each Extension of Credit. The agreement of each Lender to make any Loan requested to be made by it on any date (including its initial extension of credit) is subject to the satisfaction (or waiver in accordance with Section 10.1) of the following conditions precedent as of the date of such Loan:

Tranche” means # with respect to Term Loans or commitments, refers to whether such Term Loans or commitments are # Tranche B-23 Term Loans or Tranche B-23 Term Loan Commitments, # New Term Loans with the same terms and conditions made on the same day and increased from time to time or # Extended Term Loans (of the same Extension Series) and # with respect to Revolving Credit Loans or commitments, refers to whether such Revolving Credit Loans or commitments are # Initial Revolving Credit Commitments or Initial Revolving Credit Loans or # Extended Revolving Credit Loans or Extended Revolving Credit Commitments (of the same Extension Series).

. The obligation of each Lender to make its initial Credit Extension hereunder on or after the Fifth Restatement Effective Date is subject to satisfaction of the following conditions precedent except as otherwise agreed between the Borrowers and the Administrative Agent:

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