Conditions Precedent to Commitment Clause Samples

Conditions Precedent to Commitment. The obligation of the Bank to establish the Commitment and execute and deliver this Agreement is subject to the satisfaction of each of the following conditions precedent on or before the Effective Date, all in form and substance satisfactory to the Bank:

Conditions Precedent to Commitment. The liability of each Participant to pay its Initial Commitment and all further commitments under this agreement is subject to the condition that: (a) that Participant has received in a form and substance satisfactory to it: (i) a certified copy of the signature of each Authorised Officer of each other Participant authorised to execute on behalf of that other Participant this agreement, or any other agreement relating to the Project; and (ii) a duly executed counterpart copy of this agreement; and (b) no other Participant has committed a Default Event (or circumstances exist which would, with the passage of time, constitute a Default Event by that Participant) as at the date any commitment is due, and the Default Event referred to in clause 7.3(b) has or is reasonably likely to have a material adverse effect on the Project.

Conditions Precedent to Commitment. The obligation of the Lenders to make available the Facility pursuant to this Agreement shall become effective only upon the Borrower fulfilling to the satisfaction of the Lenders (unless any waiver is granted by the Lenders) all of the following conditions:

Conditions Precedent to Commitment. Lugard’s commitment to consummate the Transactions is subject only to the conditions set forth in Exhibit B hereto (the “Conditions Annex” and, together with the Summary of Terms, collectively, the “Term Sheet”).