Common use of Conditions Precedent to the Obligation of TILC and the Lessee Clause in Contracts

Conditions Precedent to the Obligation of TILC and the Lessee. The obligation of TILC with respect to the sale of the Units to the Lessee on the Closing Date, the obligation of the Lessee with respect to the sale of such Units to the Owner Trustee and the obligation of the Lessee to accept such Units under the Lease as of the Closing Date is subject to the satisfaction or waiver of the following conditions precedent:

Conditions Precedent to the Obligation of TILC and the Lessee. The obligation of TILC with respect to the sale of the Units and the Pledged Units to the Lessee on the Closing Date, the obligation of the Lessee with respect to the sale of such Units to the Owner Trustee and the obligation of the Lessee to accept such Units under the Lease as of the Closing Date is subject to the satisfaction or waiver of the following conditions precedent: