Common use of Initial Advances, Etc Clause in Contracts

Initial Advances, Etc. The obligation of each Bank to make the initial Advance to be made by it, the obligation of the Swing Line Bank to make Swing Line Advances and the obligation of the Issuing Bank to issue the initial Letters of Credit, are each subject to the following conditions precedent, each of which shall be satisfied prior to the making of the initial Advances (unless all of the Banks, in their sole and absolute discretion, shall agree otherwise):