Common use of Initial Loans, Etc Clause in Contracts

Initial Loans, Etc. The obligation of each Lender to make the initial Loan to be made by it, or the obligation of the Issuing Lender to issue the initial Letter of Credit (as applicable), is subject to the following conditions precedent, each of which shall be satisfied prior to the making of the initial Loans (unless all of Lenders, in their sole and absolute discretion, shall agree otherwise):

Initial Loans, Etc. The obligation of each Lender Bank to make the initial Loan to be made by it, or the obligation of the Issuing Lender Bank to issue the initial Letter of Credit (as applicable), is subject to the following conditions precedent, each of which shall be satisfied prior to the making of the initial Loans (unless all of Lendersthe Banks, in their sole and absolute discretion, shall agree otherwise):