CONDITIONS PRECEDENT TO INITIAL REVOLVING LOAN AND LETTER OF CREDIT. The obligation of each Lender to fund its Proportionate Share of the initial Borrowing (or, if it shall occur earlier, the obligation of the Agent to cause the issuance by the Issuing Bank of the initial Letter of Credit and of each Lender to purchase a participation therein) is in each case subject to the satisfaction or waiver of the following conditions precedent:
Appears in 5 contracts
Samples: Credit Agreement (Metal Management Inc), Credit Agreement (Metal Management Inc), Credit Agreement (Metal Management Inc)
CONDITIONS PRECEDENT TO INITIAL REVOLVING LOAN AND LETTER OF CREDIT. The obligation of each Lender to fund its Proportionate Share of the initial Borrowing (orBorrowing, if it shall occur earlier, or the obligation of the Agent to cause the issuance by the Issuing Bank of the initial Letter of Credit and of each Lender to purchase a participation therein) Credit, is in each case subject to the satisfaction or waiver of the following conditions precedent:
Appears in 2 contracts
Samples: Credit Agreement (Venture Stores Inc), Credit Agreement (Imagyn Medical Technologies Inc)
