Common use of Conditions Precedent to Each Letter of Credit Clause in Contracts

Conditions Precedent to Each Letter of Credit. (a) The obligation of each Issuing Bank to issue each Letter of Credit, extend the expiry date thereof, or increase the amount thereof, shall be subject to the satisfaction of the conditions precedent set forth in Section 3.01 above and the additional conditions precedent that on the date of issuance of such Letter of Credit, the following statements shall be true (and each of the giving of the applicable Notice of Letter of Credit and the acceptance by the applicable Borrower of the issuance of such Letter of Credit shall constitute a representation and warranty by the Borrowers that on the date of issuance of such Letter of Credit, such statements are true):

Conditions Precedent to Each Letter of Credit. (a) The obligation of each an Issuing Bank to issue each Letter of Credit, extend the expiry date thereof, or increase the amount thereof, Credit shall be subject to the satisfaction of the conditions precedent set forth in Section 3.01 above and the additional conditions precedent that on the date of issuance of such Letter of Credit, Credit (a) the following statements shall be true (and each of the giving of the applicable Notice of Letter of Credit and the acceptance by the applicable Borrower of the issuance of such Letter of Credit shall constitute a representation and warranty by the Borrowers Borrower that on the date of issuance of such Letter of Credit, Credit such statements are true):

Conditions Precedent to Each Letter of Credit. (a) The obligation of each the Issuing Bank to (i) issue each Letter of Credit, (ii) extend the expiry date thereof, or (iii) increase the amount thereof, shall be subject to the satisfaction of the conditions precedent set forth in Section 3.01 above and the additional conditions precedent that on the date of issuance of such Letter of Credit, Credit the following statements shall be true (and each of the giving of the applicable Notice of Letter of Credit and the acceptance by the applicable Borrower of the issuance of such Letter of Credit shall constitute a representation and warranty by the Borrowers that on the date of issuance of such Letter of Credit, Credit such statements are true):