Common use of Initial Conditions Clause in Contracts

Initial Conditions. Lender's obligation to extend credit hereunder is subject to the Conditions Precedent that Lender shall have received (or agreed in writing to waive or defer receipt of) all of the following, each duly executed, dated and delivered as of the Closing Date, in form and substance satisfactory to Lender and its counsel:

Initial Conditions. Lender's obligation to extend credit hereunder is ------------------ subject to the Conditions Precedent that Lender shall have received (or agreed in writing to waive or defer receipt of) all each of the following, each duly executed, dated and delivered as of the Closing Date, in form and substance satisfactory to Lender and its counselLender: