Common use of Conditions to Obligation of Each Party Clause in Contracts

Conditions to Obligation of Each Party. The Holders’ consent to the amendment of the Existing Preferred Stock as set forth in the Certificate of Designations and the obligations of the Company to amend the Existing Preferred Stock and of XxXxxxx Holdings to issue the Common Stock hereunder are subject to the satisfaction (or, to the extent permitted by law, waiver by such party), at or prior to the Closing Date, of the following conditions: (a) no provision of any applicable law or regulation and no judgment, injunction, order or decree shall prohibit the consummation of the Closing and there shall not be threatened, instituted or pending any action, suit, investigation or proceeding which could reasonably be expected to have a material adverse effect on the transactions contemplated by this Agreement; (b) the exchange of the Old Notes for the New Notes shall have been consummated or shall be consummated concurrently with the Closing; (c) the Credit Agreement Amendment shall be in full force and effect; and (d) the Second Lien Credit Agreement Amendment shall be in full force and effect.

Conditions to Obligation of Each Party. The Holders’ consent obligations of each party hereto to consummate the amendment issuance of the Existing Preferred Stock as set forth New Notes in exchange for the Certificate of Designations and the obligations of the Company to amend the Existing Preferred Stock and of XxXxxxx Holdings to issue the Common Stock hereunder are Old Notes is subject to the satisfaction (or, to the extent permitted by law, waiver by such party), at or prior to the Closing Date, of the following conditions: (a) no provision of any applicable law or regulation and no judgment, injunction, order or decree shall prohibit the consummation of the Closing and there shall not be threatened, instituted or pending any action, suit, investigation or proceeding which could reasonably be expected to have a material adverse effect on the transactions contemplated by this Agreement; (b) the exchange of Senior Preferred Stock Amendment and the Old Notes for the New Notes Junior Preferred Stock Amendment shall have been consummated or shall be consummated concurrently with the Closing; (c) the Credit Agreement Amendment shall be in full force and effect; and (d) the Second Lien Credit Agreement Amendment shall be in full force and effect.