Common use of Conditions Precedent to the Initial Borrowing Date Clause in Contracts

Conditions Precedent to the Initial Borrowing Date. The obligation of each Bank to make each Loan to the Borrower hereunder on the Initial Borrowing Date, and the obligation of the Letter of Credit Issuer to issue each Letter of Credit hereunder on the Initial Borrowing Date, are subject, on the Initial Borrowing Date, to the satisfaction of the following conditions:

Conditions Precedent to the Initial Borrowing Date. The obligation of each Bank the Banks to make each Loan Loans to the Borrower hereunder on the Initial Borrowing Date, and the obligation of the Letter of Credit Issuer to issue each Letter of Credit hereunder on the Initial Borrowing Date, are subject, on the Initial Borrowing Date, Date is subject to the satisfaction of each of the following conditionsconditions at such time: