Conditions to Subsequent Borrowings. The obligation of each Lender to make a Loan as part of a Borrowing subsequent to the first Borrowing (other than any Borrowing of PIK Loans) is subject to the following conditions precedent:
Appears in 4 contracts
Samples: Loan Agreement (Valeritas Holdings Inc.), Loan Agreement (Valeritas Holdings Inc.), Loan Agreement (Valeritas Holdings Inc.)