CONDITION PRECEDENT TO INITIAL LOAN. The obligation of the Bank to make the initial Loan to the Borrower and to issue the initial Letter of Credit, whichever is earlier, is subject to the condition precedent that the Bank shall have received on or before the day such Loan is made or such Letter of Credit is issued, each of the following, and each is in form and substance satisfactory to the Bank and its counsel:
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CONDITION PRECEDENT TO INITIAL LOAN. The obligation of the Bank to make the initial Loan to the Borrower and to issue the initial Letter of Credit, whichever is earlier, is subject to the condition precedent that the Bank shall have received on or before the day of such Loan is made or such Letter of Credit is issued, (except as otherwise noted below) each of the following, and each is in form and substance satisfactory to the Bank and its counsel:
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CONDITION PRECEDENT TO INITIAL LOAN. The obligation of the Bank to make the initial Loan to the any Borrower and to issue the initial Letter of Credit, whichever is earlier, is subject to the condition precedent that the Bank shall have received on or before the day of such Loan is made or such Letter of Credit is issued, each of the following, and each is in form and substance satisfactory to the Bank and its counsel:
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CONDITION PRECEDENT TO INITIAL LOAN. The obligation of the Bank to make the initial Loan to the Borrower and to issue the (or issuance of any initial Letter of CreditCredit hereunder, whichever is earlier, as applicable) is subject to the condition precedent that the Bank shall have received on or before the day such Loan is made or such Letter of Credit is issued, each of the following, and each is in form and substance satisfactory to the Bank and its counselfollowing conditions precedent:
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