Common use of Waiver or Deferral of Conditions Precedent Clause in Contracts

Waiver or Deferral of Conditions Precedent. Each condition precedent referred to in this Clause 3 is for the benefit solely of the Lender. The Lender may by notice to the Borrower waive or defer delivery of any condition precedent, in whole or in part, and subject to such other conditions (if any) as it may determine.