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

Conditions Precedent to the Initial Borrowing. The obligation of each Lender to make its initial Loan hereunder is subject to satisfaction of the following conditions precedent, each in form and substance satisfactory to the Administrative Agent and the Arranger (other than any Fee Letter, which shall be in form and substance satisfactory to the Arranger in the case of the Arranger Fee Letter or the Administrative Agent in the case of the Agent Fee Letter): (a) The Administrative Agent or its designees shall have received the following documents, each properly executed by a Responsible Officer of the signing Loan Party, each dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date):