Common use of Initial Transaction Clause in Contracts

Initial Transaction. The obligation of Administrative Agent and Buyers to enter into Transactions with Seller hereunder is subject to the satisfaction, immediately prior to or concurrently with the entering into such Transaction, of the condition precedent that Administrative Agent and Buyers shall have received all of the following items, each of which shall be satisfactory to Administrative Agent and its counsel in form and substance:

Initial Transaction. The obligation of Administrative Agent and Buyers to enter into Transactions with Seller the Sellers hereunder is subject to the satisfaction, immediately prior to or concurrently with the entering into such Transaction, of the condition precedent that Administrative Agent and Buyers Xxxxxx shall have received all of the following items, each of which shall be satisfactory to Administrative Agent and its counsel in form and substance: