All Loans and Letters of Credit. The obligation of each Bank to make any Loan (including its initial Loan) to be made by it hereunder and the obligation of the Issuer to issue any Letter of Credit (including the first Letter of Credit) are each subject to the additional conditions precedent that, as of the date of such Loan or such issuance, and after giving effect thereto:
Appears in 4 contracts
Samples: Credit Agreement (Monterey Resources Inc), Credit Agreement (Monterey Acquisition Corp), Credit Agreement (Santa Fe Energy Resources Inc)