Conditions Precedent to the Initial Borrowing Date Clause Samples
Conditions Precedent to the Initial Borrowing Date. The obligation of each Lender to make Loans on the Initial Borrowing Date is subject at the time of the making of such Loans to the satisfaction or (other than in the case of Sections 5.02, 5.04, 5.05, 5.06 (other than delivery of the Share Charge Collateral), 5.07, 5.08, 5.10, 5.11, 5.12 and 5.15) waiver of the following conditions:
Conditions Precedent to the Initial Borrowing Date. The obligation of each Lender to make Loans on the Initial Borrowing Date is subject at the time of the making of such Loans to the satisfaction or waiver of the following conditions:
Conditions Precedent to the Initial Borrowing Date. The obligation of the Banks to make Loans to the Borrower hereunder on the Initial Borrowing Date is subject to the satisfaction of each of the following conditions at such time:
Conditions Precedent to the Initial Borrowing Date. All amounts deposited into the Escrow Account shall be released as provided in the Escrow Agreement and at the time of such release shall become Advances hereunder (of the applicable type and tranche). Immediately upon release of the amounts as described in the foregoing sentence, the Deposited Documents shall be released to the Agent. The parties hereto hereby agree that if the conditions set forth in this Section are not satisfied by 2 p.m. (New York City time) on June 2, 2006, all amounts on deposit in the Escrow Account will be returned to the Lenders based on each Lenders pro rata share of the amount so deposited. Any interest received by the Agent with respect to interest accruing on amounts on deposit in the Escrow Account paid to the Agent will be paid to the Lenders, pro rata, based on the amount deposited by such Lender.
Conditions Precedent to the Initial Borrowing Date. The obligation of each Lender to make Loans, and the obligation of each Letter of Credit Issuer to issue Letters of Credit, on the Initial Borrowing Date, is subject to the satisfaction of each of the following conditions:
Conditions Precedent to the Initial Borrowing Date. The obligation of each Lender to make the Loan in respect of the Capesize Vessel Deposit on the Initial Borrowing Date and the obligation of any Issuing Lender to issue any Letter of Credit is subject at the time of the making of such Loans and/or the issuance of such Letter of Credit to the satisfaction or waiver of the following conditions: