Common use of Conditions Precedent to Consummation of the Pre-Distribution Transactions Clause in Contracts

Conditions Precedent to Consummation of the Pre-Distribution Transactions. The obligations of the Parties to consummate each of the Pre-Distribution Transactions is subject to the prior or simultaneous satisfaction, or waiver by StealthGas in its sole and absolute discretion, of each of the following conditions: (a) final approval of each of the Pre-Distribution Transactions shall have been given by the Board of Directors of StealthGas in its sole and absolute discretion; and Each of the foregoing conditions is for the benefit of StealthGas and StealthGas may, in its sole and absolute discretion, determine whether to waive any such condition. Any determination made by StealthGas prior to any of the Pre-Distribution Transactions concerning the satisfaction or waiver of any or all of the conditions set forth in this Section 2.3 shall be conclusive and binding on the Parties.