Nautilus 2005 Annual Report Download - page 112
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(b) Borrower shall have submitted a Notice of Loan (or with respect to a Letter of Credit, complied with the provisions of Section 2.2(b)
(ii) hereof) and otherwise complied with Section 2.5 hereof;
(c) no Default or Event of Default shall then exist or immediately after such Credit Event would exist; and
(d) each of the representations and warranties contained in Article VI hereof shall be true in all material respects as if made on and as of
the date of such Credit Event, except to the extent that any thereof expressly relate to an earlier date
Each request by Borrower for a Credit Event shall be deemed to be a representation and warranty by Borrower as of the date of such request as
to the satisfaction of the conditions precedent specified in subsections (c) and (d) above.
Section 4.2. Conditions to the First Credit Event . Borrower shall cause the following conditions to be satisfied on or prior to the Closing
Date. The obligation of the Lenders, the Fronting Lender and the Swing Line Lender to participate in the first Credit Event is subject to
Borrower satisfying each of the following conditions prior to or concurrently with such Credit Event:
(a) Notes . Borrower shall have executed and delivered to Agent for (i) each Lender requesting a Revolving Credit Note, such Lender’s
Revolving Credit Note, and (ii) the Swing Line Lender the Swing Line Note, if requested by the Swing Line Lender.
(b) Guaranties of Payment . Each Guarantor of Payment shall have executed and delivered to Agent a Guaranty of Payment.
(c) Springing Security Documents . Borrower and each Guarantor of Payment shall have executed and delivered to Agent, for the benefit
of the Lenders, a Security Agreement, a Pledge Agreement (with respect to the Pledged Securities) and Control Agreements (with respect to the
deposit and securities accounts set forth in Schedule 6.19 hereto).
(d) Officer’s Certificate, Resolutions, Organizational Documents . Each Credit Party shall have delivered to Agent an officer’s certificate
(or comparable domestic or foreign documents) certifying the names of the officers of such Credit Party authorized to sign the Loan
Documents, together with the true signatures of such officers and certified copies of (i) the resolutions of the board of directors (or comparable
domestic or foreign documents) of such Credit Party evidencing approval of the execution and delivery of the Loan Documents and the
execution of other Related Writings to which such Credit Party is a party, and (ii) the Organizational Documents of such Credit Party.
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