Common use of Conditions Precedent to the Initial Closing Clause in Contracts

Conditions Precedent to the Initial Closing. (a) An Original Subscriber will only be obliged to subscribe for the Promissory Certificates to be issued on the Initial Closing Date if: (i) prior to or at the Initial Closing, the Original Subscriber has received all of the documents and other evidence listed in Schedule 2 (Conditions Precedent) in form and substance satisfactory to it (or has waived the requirement to receive any such documents or other evidence); (ii) on the Initial Closing Date, no Default is continuing or would result from the issue of the Promissory Certificates; and (iii) on the Initial Closing Date, the representations to be made by each Obligor pursuant to Clause 17 (Representations) are true in all material respects. (b) Each Original Subscriber shall notify the Company promptly upon receipt of all of the documents and other evidence listed in Schedule 2 (Conditions Precedent) in form and substance satisfactory to it.

Conditions Precedent to the Initial Closing. (a) An The Original Subscriber will only be obliged to subscribe for the Promissory Certificates to be issued on the Initial Closing Date if: (i) prior to or at the Initial Closing, the Original Subscriber has received all of the documents and other evidence listed in Schedule 2 (Conditions Precedent) in form and substance satisfactory to it (or has waived the requirement to receive any such documents or other evidence); (ii) on the Initial Closing Date, no Default is continuing or would result from the issue of the Promissory Certificates; and (iii) on the Initial Closing Date, the representations to be made by each Obligor pursuant to Clause 17 (Representations) are true in all material respects. (b) Each The Original Subscriber shall notify the Company promptly upon receipt of all of the documents and other evidence listed in Schedule 2 (Conditions Precedent) in form and substance satisfactory to it.