Conditions Precedent to Credit Events on the Effective Date Clause Samples
The 'Conditions Precedent to Credit Events on the Effective Date' clause sets out specific requirements that must be satisfied before any credit-related actions or obligations become effective as of the contract's start date. Typically, these conditions might include the delivery of certain documents, confirmation of regulatory approvals, or the fulfillment of financial covenants by the parties involved. By establishing these prerequisites, the clause ensures that all necessary legal and operational steps are completed before credit events can occur, thereby reducing risk and providing clarity for both parties at the outset of the agreement.
Conditions Precedent to Credit Events on the Effective Date. The occurrence of the Effective Date and the obligation of each Lender to make Loans, and the obligation of each Issuing Lender to issue Letters of Credit, on the Effective Date, are subject to the satisfaction of the following conditions:
Conditions Precedent to Credit Events on the Effective Date. The obligation of each Lender to make Loans on the Effective Date, is subject at the time of the making of such Loans to the satisfaction (or waiver by the Administrative Agent) of the following conditions:
Conditions Precedent to Credit Events on the Effective Date. The obligation of each Lender to make the Initial Term Loans on the Effective Date are subject at the time of the making of such Loans to the satisfaction (or waiver in writing by the Required Lenders) of the following conditions: