Common use of Conditions Precedent to Initial Credit Extensions Clause in Contracts

Conditions Precedent to Initial Credit Extensions. The obligation of Lender to honor the initial Credit Extension request is subject to the condition precedent that Lender shall have received, in form and substance satisfactory to Lender, the following: (a) this Agreement duly executed by each Borrower; (b) a certificate of the Secretary of each Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; (c) an intellectual property security agreement duly executed by each Borrower in the form attached hereto as Exhibit D (the "Intellectual Property Security Agreement"); (d) evidence of insurance as required by the terms hereof (including evidence that Lender is a loss payee and additional insured under such insurance as required by Section 6.7) acceptable to Lender in its reasonable discretion; and (e) such other documents, and completion of such other matters, as Lender may reasonably deem necessary or appropriate.