Conditions Precedent to Additional Credit Extensions. The obligation of each Lender to make a Credit Extension (other than Protection Advances) after the Closing Date is subject to the satisfaction (or waiver) of the following express conditions:
Conditions Precedent to Additional Credit Extensions. Borrower may not request Credit Extensions beyond those contemplated by Sections 3.1 and 3.2 hereof, until such time as the Borrower has (and continues to maintain) an effective registration statement registering the Commitment Fee Shares and Additional Commitment Fee Shares (as defined in the ELOC Agreement), and, immediately prior to any request for a Credit Extension, there are an adequate number of purchase shares registered for resale under the ELOC Agreement to cover $2,000,000 in outstanding amounts payable hereunder.
