Conditions of Initial Borrowings. This Agreement shall become effective upon, and the obligation of each Lender to make Loans to the Borrower hereunder is subject to, satisfaction of the following conditions precedent:
Conditions of Initial Borrowings. The obligation of each Bank to make its initial Loan or Uncommitted Advance hereunder is subject to the receipt by the Documentation Agent at its offices in New York, New York, with copies to the Banks of each of the following documents, in form and substance satisfactory to the Agent, on or prior to the date which is at least four Business Days before the first Borrowing Date: