loan hereunder is subject to
performance by the borrower of all its obligations under this agreement and to
the fulfillment of the following conditions precedent in a manner satisfactory
to the bank on or before the date hereof:
(a) the bank shall have received the duly executed note in the principal amount
of the loan."
(b) the bank shall have received the duly executed guaranty, and such guaranty
shall be in form and substance satisfactory to the bank.
? (1) the borrower shall have complied and shall then be in compliance with all
the terms, covenants and conditions of this agreement which are binding upon it,
(2) both immediately prior to and at the completion of the borrowing there shall
exist no event of default and no event which, with the giving of notice or the
lapse of time, or both, would constitute an event of default, and
(3) the representations and warranties contained in article v shall be true with
the same effect as though such representations and warranties had been made at
the time of such borrowing.
(d) the borrower and the guarantor shall have received all necessary
governmental approvals required to be obtained in connection with this
agreement, the note and the guaranty, including all necessary approvals, if any,
for the borrowing hereunder, for the use of the proceeds thereof and for the
schedule of repayment in dollars of principal of, and interest on, the note in
accordance with the terms hereof and of the guaranty and all other payments
contemplated hereunder or thereunder or otherwise payable in connection with the
transactions contemplated hereby, and such approvals shall be in full force and
effect.
(e) the bank shall have received a certified copy of a letter from the [central
bank] approving in principal the borrowing hereunder and the remittance of
dollars by the borrower pursuant to this agreement and the note.
(f) the bank shall have received certified copies of all corporate action taken
by the borrower and the guarantor to authorize this agreement, the note, the
guaranty and the borrowing hereunder, as the case may be, and copies of all
governmental approvals referred to in the preceding paragraph (d), and such
other documents as the bank shall reasonably require. such corporate action
shall be satisfactory in form and substance to the bank and its counsel.
(g) the bank shall
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