Common use of Initial Loans and Letters of Credit Clause in Contracts

Initial Loans and Letters of Credit. The obligations of the Lenders to make the initial Loans and to cause the issuance of the initial Letters of Credit on the Closing Date shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Section 4.1, except as the Required Lenders shall otherwise consent.

Appears in 1 contract

Samples: Credit Agreement (Dana Holding Corp)

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Initial Loans and Letters of Credit. The obligations of the Lenders to make the initial Borrowings of Loans and to cause the issuance of the initial Letters of Credit on the Closing Date shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Section 4.1, except as the Required Lenders shall otherwise consent.

Appears in 1 contract

Samples: Credit Agreement (Creative Host Services Inc)

Initial Loans and Letters of Credit. The obligations of the Lenders to make fund the initial Term Loans and to cause the issuance of the initial Revolving Loans and issue or jointly apply for Letters of Credit on or after the Closing Date shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Section 4.1, except as the Required Lenders shall otherwise consent.

Appears in 1 contract

Samples: Credit Agreement (Headway Corporate Resources Inc)

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Initial Loans and Letters of Credit. The obligations of the Lenders to make the initial Loans and to cause the issuance of the initial Letters of Credit on the Closing Date shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Section 4.14.1 each in form and substance satisfactory to the Agent in its sole discretion, except as the Required Lenders shall otherwise consent.

Appears in 1 contract

Samples: Credit Agreement (National Rv Holdings Inc)

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