Common use of Conditions Precedent and Conditions Subsequent Clause in Contracts

Conditions Precedent and Conditions Subsequent. 3.1. The Loan may be disbursed by the Lender to the Borrower, in one or more tranches and subject to the terms of Clause 2 (the Loan), upon fulfilment of the conditions precedent set out in Schedule V (Conditions Precedent and Conditions Subsequent), which conditions must be complied with by the Borrower, prior to the first Date of Disbursement (“Conditions Precedent”). It is hereby clarified that the Lender shall not be required to disburse any part of the Loan, unless the Borrower has complied with each of the Conditions Precedent (to the extent not expressly waived in writing by the Lender) and the Lender has received all of the documents and other evidences in relation to the fulfilment of the Conditions Precedent listed in Schedule V.