Common use of Continuing Conditions Precedent Clause in Contracts

Continuing Conditions Precedent. The obligation of the Bank to advance the Commitment, is subject to the further condition that at the time of giving a Drawdown Notice and on advancing the Commitment no Event of Default has occurred or is about to occur and be continuing. Also that the Arrangement Fee have been received by the Bank in accordance with the provisions of Clause 5 hereof.

Continuing Conditions Precedent. The obligation of the Bank to advance the Commitment, is subject to the further condition that at the time of giving a Drawdown Notice and on advancing the Commitment no Event of Default has occurred or is about to occur and be continuing. Also that the Arrangement Fee have referred to in Clause 5 hereto has been received by the Bank in accordance with the provisions of Clause 5 hereofBank.