Common use of Conditions to Initial Credit Extension to an Eligible Subsidiary Clause in Contracts

Conditions to Initial Credit Extension to an Eligible Subsidiary. The obligation of each Lender and each Issuing Bank to make the initial Credit Extension to an Eligible Subsidiary shall be subject to, and to the satisfaction of, each of the conditions precedent set forth below.

Conditions to Initial Credit Extension to an Eligible Subsidiary. The obligation of each Lender and each Issuing Bank to make the initial Credit Extension to an Eligible Subsidiary shall be subject to, and to the satisfaction (or waiver) of, each of the conditions precedent set forth below.

Conditions to Initial Credit Extension to an Eligible Subsidiary. The obligation of each Lender and each Issuing Bank to make the initial Credit Extension to an Eligible Subsidiary shall be subject to, and to the satisfaction of, each of the conditions precedent set forth belowbelow and thereupon, such Eligible Subsidiary shall become a “Borrower” for purposes of this Agreement and the Loan Documents.