Initial Loan Sample Clauses

Initial Loan. The obligation of the Lender to make its initial Loan hereunder is subject to the satisfaction, immediately prior to or concurrently with the making of such Loan, of the condition precedent that the Lender shall have received all of the following items, each of which shall be satisfactory to the Lender and its counsel in form and substance:

Initial Loan. Notwithstanding any provision contained in this Agreement to the contrary, Lender shall have no obligation to make the initial Loan or issue the initial Letter of Credit under this Agreement unless Lender shall have first received: (a) this Agreement and the Note, each duly executed by Borrower; (b) the Guaranty, duly executed by Laclede Energy; (c) a copy of resolutions (including an incumbency certificate) of the Board of Directors of Borrower, duly adopted, which authorize the execution, delivery and performance of this Agreement, the Note and the other Transaction Documents, certified by the Secretary of Borrower; (d) a copy of resolutions of the Board of Directors (including an incumbency certificate) of Laclede Energy, duly adopted, which authorize the execution, delivery and performance of its Guaranty, certified by the Secretary of Laclede Energy; (e) copies of the Articles of Incorporation of Borrower and Laclede Energy including any amendments thereto, certified by the Secretary of State of the states of their respective incorporations; (f) copies of the Bylaws of Borrower and Laclede Energy including any amendments thereto, certified by the Secretaries of Borrower and Laclede Energy; (g) certificates of corporate good standing of Borrower and Laclede Energy issued by the Secretary of State of the states of their respective incorporations; (h) an opinion of the counsel of Borrower and Laclede Energy, in form and substance satisfactory to Lender and Lender’s counsel; (i) UCC search results from the Missouri Secretary of State for Borrower and Laclede Energy; (j) copies of all financial statements and other exhibits and schedules required by this Agreement and the other Transaction Documents; (k) a letter of direction from Borrower with respect to the disbursement of the proceeds of the initial Loan under this Agreement; (l) payment of all fees and other amounts due and owing to Lender, including without limitation payment of all accrued and unpaid expenses incurred by Lender as required under Section 7.03; (m) the other documents, deliveries, payments described on the Closing Checklist attached hereto and incorporated herein as Exhibit B; and (n) such other agreements, documents, instruments and certificates as Lender may reasonably request.

Initial Loan. The obligations of (a) the Lenders to make Loans (including making BA Loans and accepting Bankers’ Acceptances) or (b) any Issuing Bank to issue Letters of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 10.2):

Initial Loan. The obligation of any Bank to make its initial Loan hereunder is subject to the conditions precedent (which conditions precedent apply to and shall be satisfied by the Borrowers severally) that the Administrative Agent shall have received the following documents (with, in the case of clauses (a), (b), (c), (d), and (e) below, sufficient counterparts or copies, as the case may be, for each Bank), each of which shall be satisfactory to the Administrative Agent (and to the extent specified below, to each Bank) in form and substance:

Initial Loan. Notwithstanding any other provision of this Agreement, the obligations of the relevant Lenders to fund the initial Borrowing (the “Initial Loan”) shall be subject to the prior or concurrent satisfaction, or written waiver by such Lenders, of each of the conditions precedent set forth in this Section 4.01.

Initial Loan. The obligation of Lender to make the initial Loan hereunder is subject to the conditions precedent that Administrator shall have received all of the following, each duly executed and dated the date of such Loan (or such earlier date as shall be satisfactory to Administrator), in form and substance satisfactory to Administrator:

Initial Loan. The obligation of Lender to make the initial Loan hereunder shall be subject to satisfaction or waiver of the following conditions precedent: (a) Lender shall have received the Note, duly executed by Borrower; (b) Lender shall have received a certificate, signed by an authorized representative of Borrower, stating (i) that the representations and warranties contained in the Stock Purchase Agreement are true and accurate in all material respects as though made on and as of the Borrowing Date, and (ii) that there has then occurred no Event of Default or Incipient Default which is continuing; (c) Lender shall have received the Financing Statements, duly executed by Borrower; (d) Lender shall have received such other instruments or documents as Lender may reasonably request relating to the existence and good standing of Borrower and the authority for execution, delivery and performance of this Agreement and the granting and/or perfection of security interest in the Collateral as contemplated herein; (e) no Event of Default or event which, upon the lapse of time or the giving of notice or both, would constitute an Event of Default (an "Incipient Default") shall exist on the Borrowing Date; (f) the representations and warranties of Borrower set forth in the Stock Purchase Agreement shall be true and correct in all material respects as of the Borrowing Date; (g) the net worth (assets less liabilities, calculated in accordance with GAAP consistently applied) of SCHI shall not have declined by more than twenty percent (20%) since the date of this Agreement; (h) Lender shall have received the notice of borrowing referred to in Section 2.2 with such certifications as may reasonably be requested by Lender; (i) Lender shall have received an opinion of Borrower's counsel in form and substance satisfactory to Lender.

Initial Loan. The obligation of Lender to make the initial Loan under the Credit Facility, is subject to the condition precedent that Lender shall have received on or before the day of such Loan all of the following, each dated (unless otherwise indicated) as of the Closing Date, in form and substance satisfactory to Lender:

Initial Loan. Subject to the satisfaction (or waiver) of the terms and conditions of this Agreement, the Lender shall make the Initial Loan to Borrower at the First Closing.

Initial Loan. No Lender will be obligated to fund the initial Loan unless the Administrative Agent has received all of the following in form and substance satisfactory to the Administrative Agent and its special counsel: