Conditions Precedent to Initial Borrowings and the Initial Letter of Credit. The obligations of each Lender to make the initial Revolving Advance and for the Issuing Lender to issue an initial Letter of Credit, if any, and the obligation of the Swing Line Lender to make the initial Swing Line Advance shall be subject to the conditions precedent that:
Appears in 2 contracts
Sources: Credit Agreement (Pioneer Energy Services Corp), Credit Agreement (Pioneer Drilling Co)
Conditions Precedent to Initial Borrowings and the Initial Letter of Credit. The obligations of each Lender to make the initial Revolving Advance and for the Issuing Lender to issue an initial Letter of Credit, if any, and the Existing Letters of Credit deemed issued on the Effective Date and the obligation of the Swing Line Lender to make the initial Swing Line Advance shall be subject to the conditions precedent that:
Appears in 1 contract