Common use of Closing Subject to Conditions Precedent Clause in Contracts

Closing Subject to Conditions Precedent. The obligation of Buyers to purchase the Note is subject to the satisfaction on or prior to the Closing Date of the following conditions (any or all of which may be waived by Administrative Agent and Buyers): (a) Performance by the Issuer, Co-Issuer, PMC, PMH and Approved Subservicer. All the terms, covenants, agreements and conditions of the Transaction Documents and the Acknowledgment Agreement to be complied with, satisfied, observed and performed by the Issuer, Co-Issuer, PMH, PMC and Approved Subservicer on or before the Closing Date shall have been complied with, satisfied, observed and performed in all material respects.