Common use of Conditions Precedent to Initial Loan and Initial Letter of Credit Clause in Contracts

Conditions Precedent to Initial Loan and Initial Letter of Credit. The obligation of the Lenders to make the initial Loan or the Fronting Bank to issue the initial Letter of Credit, whichever may occur first, is subject to the following conditions precedent:

Conditions Precedent to Initial Loan and Initial Letter of Credit. The obligation of the Lenders to make the initial Loan or the Fronting Bank to issue the initial Letter of Credit, whichever may occur first, is subject to the following conditions precedent:

Conditions Precedent to Initial Loan and Initial Letter of Credit. The obligation of the Lenders each Lender to make its initial Loan and participate in the initial Loan or Letter of Credit (whichever may occur first), and the Fronting obligation of the Issuing Bank to issue the initial Letter of Credit, whichever may occur first, is subject to the satisfaction in full of the following conditions precedent: