Common use of Conditions Precedent to Initial Credit Events Clause in Contracts

Conditions Precedent to Initial Credit Events. 3/. The obligation of each Lender to make each Loan hereunder, the obligation of each PF Lender to fund its Credit-Linked Deposit and the obligation of the Letter of Credit Issuer to issue each Letter of Credit hereunder, in each case on the Initial Borrowing Date, is subject at the time of the making of such Loan, the funding of such Credit-Linked Deposit or the issuance of such Letter of Credit, as the case may be, to the satisfaction of the following conditions:

Conditions Precedent to Initial Credit Events. 3/. The obligation of each Lender to make each Loan hereunder, the obligation of each PF Lender to fund its Credit-Linked Deposit and the obligation of the Letter of Credit Issuer to issue each Letter of Credit hereunder, in each case on the Initial Borrowing Date, is subject at the time of the making of such Loan, the funding of such Credit-Linked Deposit or the issuance of such Letter of Credit, as the case may be, to the satisfaction of the following conditions: